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Recursos bibliográficos en papel y digitales -
- libros, artículos de revistas,
ponencias de eventos, etc. -
» Resultado: 2 registros
| Registro 1 de 2 | |
| Autor: | Teoh, Siew-Hong - Welch, Ivo - Wong, T-J |
| Título: | Earnings Management and the Underperformance of Seasoned Equity Offerings |
| Fuente: | Journal of Financial Economics. v.50, n.1. Elsevier Science |
| Páginas: | pp. 63-99 |
| Año: | Oct. 1998 |
| Resumen: | Seasoned equity issuers can raise reported earnings by altering discretionary accounting accruals. The authors find that issuers who adjust discretionary current accruals to report higher net income prior to the offering have lower postissue long-run abnormal stock returns and net income. Interestingly, the relation between discretionary current accruals and future returns (adjusted for firm size and book-to-market ratio) is stronger and more persistent for seasoned equity issuers than for nonissuers. The evidence is consistent with investors naively extrapolating preissue earnings without fully adjusting for the potential manipulation of reported earnings. |
| Solicitar por: | HEMEROTECA J + datos de Fuente |
| Registro 2 de 2 | |
| Autor: | Bikhchandani, Sushil - Hirshleifer, David - Welch, Ivo - |
| Título: | Learning from the Behavior of Others: Conformity, Fads, and Informational Cascades |
| Fuente: | Journal of Economic Perspectives. v.12, n.3. American Economic Association |
| Páginas: | pp. 151-70 |
| Año: | summer 1998 |
| Resumen: | Learning by observing the past decisions of others can help explain some otherwise puzzling phenomena about human behavior. For example, why do people tend to converge on similar behavior? Why is mass behavior prone to error and fads? The authors argue that the theory of observational learning, and particularly of informational cascades, has much to offer economics, business strategy, political science, and the study of criminal behavior. |
| Solicitar por: | HEMEROTECA J + datos de Fuente |
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