MoneyScience News |
- Vendor News: NAG announces support for IBM BlueGene/Q supercomputers
- RT @creditplumber: This should be lively - Hester, Horta-Osorio & Sands @ Commission on Banking Standards, 4.30pm today http://t.co/sgAsScu9
- RT @freakonometrics: on climate change "False consensus and "pluralistic ignorance" help mistaken beliefs thrive" http://t.co/oP5XatRn
- Blog Post: TheFinancialServicesClub: Hurricane Sandy: a good time to create some good PR
- Blog Post: TheAlephBlog: The Rules, Part XXXV
- Blog Post: Falkenblog: Government Response to Scarcity: Make it Free
- Published / Preprint: Can We Explain Unexpected Fluctuation of Long-Term Real Interest Rate?. (arXiv:1211.2709v1 [q-fin.GN])
- Published / Preprint: Coal Enterprise Management and Asynchronism of Return. (arXiv:1211.2754v1 [q-fin.PM])
- Blog Post: rob_daly: Direct Edge Announces Retail Pilot
- Published / Preprint: No such pipe, or this pipe has been deleted
- Published / Preprint: Cover
- Published / Preprint: Editorial Board
- Published / Preprint: Forthcoming Articles
- Published / Preprint: Volume 25 Number 12 December 2012 * The Review of Financial Studies - Table of Contents
- Published / Preprint: A Flow-Based Explanation for Return Predictability
- Published / Preprint: Forecasting Stock Returns Through an Efficient Aggregation of Mutual Fund Holdings
- Published / Preprint: Institutional Investors and Mutual Fund Governance: Evidence from Retail-Institutional Fund Twins
- Published / Preprint: Cash Holdings and Credit Risk
- Published / Preprint: The Sensitivity of Corporate Cash Holdings to Corporate Governance
- Published / Preprint: Overvalued Equity and Financing Decisions
- Published / Preprint: Ability or Finances as Constraints on Entrepreneurship? Evidence from Survival Rates in a Natural Experiment
- Published / Preprint: Is the Potential for International Diversification Disappearing? A Dynamic Copula Approach
- Published / Preprint: Erratum
| Vendor News: NAG announces support for IBM BlueGene/Q supercomputers Posted: 13 Nov 2012 03:01 AM PST read more... Visit MoneyScience for the Complete Article.      |
| Posted: 13 Nov 2012 01:18 AM PST moneyscience: RT @creditplumber: This should be lively - Hester, Horta-Osorio & Sands @ Commission on Banking Standards, 4.30pm today http://t.co/sgAsScu9 Visit MoneyScience for the Complete Article.    |
| Posted: 13 Nov 2012 12:06 AM PST moneyscience: RT @freakonometrics: on climate change "False consensus and "pluralistic ignorance" help mistaken beliefs thrive" http://t.co/oP5XatRn Visit MoneyScience for the Complete Article.    |
| Blog Post: TheFinancialServicesClub: Hurricane Sandy: a good time to create some good PR Posted: 12 Nov 2012 11:24 PM PST It surprises me that banks rarely get lauded and applauded, as it is far easier to critique and blast. read more... Visit MoneyScience for the Complete Article.    |
| Blog Post: TheAlephBlog: The Rules, Part XXXV Posted: 12 Nov 2012 09:59 PM PST Stability only comes to markets in a self-reinforcing mode, from buy and hold (and sell and sit on cash) investors who act at the turning points.read more... Visit MoneyScience for the Complete Article.    |
| Blog Post: Falkenblog: Government Response to Scarcity: Make it Free Posted: 12 Nov 2012 06:43 PM PST So, someone decided to make gas free in areas affected by the big northeastern storm, but needless to say, they ran out. Connecticut, New Jersey, and New Yorkers can report price gouging at telephone numbers and websites. Chris Cristie, recently honored by Cato, is pursuing these cases as well. Arbitrageurs are the criminals in this drama. This is bad because people should be... Visit MoneyScience for the Complete Article.    |
| Posted: 12 Nov 2012 05:36 PM PST In this paper, we create a model of unexpected fluctuation of the long-term real interest rate. This model is based on our new version of IS-LM model. The new IS-LM model eliminates two main deficiencies of the original model: assumptions of constant price level and of strictly exogenous money supply. The unexpected fluctuations of the long-term real interest rate can be explained by existence of... Visit MoneyScience for the Complete Article.    |
| Posted: 12 Nov 2012 05:36 PM PST For researching the association between coal enterprise management and return in financial market, this paper applies the method of time difference relevance and PageRank method to seek the leader-index of a stock set containing 21 coal enterprises in A-share market and score those stocks. Based on the return in 2011, the asynchronism of the return series is revealed and presents a hierarchical... Visit MoneyScience for the Complete Article.    |
| Blog Post: rob_daly: Direct Edge Announces Retail Pilot Posted: 12 Nov 2012 11:14 AM PST Direct Edge Announces Retail Pilotread more... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: No such pipe, or this pipe has been deleted Posted: 12 Nov 2012 09:09 AM PST This data comes from pipes.yahoo.com but the Pipe does not exist or has been deleted. Visit MoneyScience for the Complete Article.    |
| Posted: 12 Nov 2012 06:32 AM PST    |
| Published / Preprint: Editorial Board Posted: 12 Nov 2012 06:32 AM PST    |
| Published / Preprint: Forthcoming Articles Posted: 12 Nov 2012 06:32 AM PST    |
| Posted: 12 Nov 2012 06:32 AM PST    |
| Published / Preprint: A Flow-Based Explanation for Return Predictability Posted: 12 Nov 2012 06:32 AM PST I propose and test a capital-flow-based explanation for some well-known empirical regularities concerning return predictability—the persistence of mutual fund performance, the "smart money" effect, and stock price momentum. First, I construct a measure of demand shocks to individual stocks by aggregating flow-induced trading across all mutual funds, and document a significant, temporary... Visit MoneyScience for the Complete Article.    |
| Posted: 12 Nov 2012 06:31 AM PST We develop a stock return–predictive measure based on an efficient aggregation of the portfolio holdings of all actively managed U.S. domestic equity mutual funds, and use this model to study the source of fund managers' stock selection abilities. This "generalized inverse alpha" (GIA) approach reveals differences in the ability of managers to predict firms' future earnings from fundamental... Visit MoneyScience for the Complete Article.    |
| Posted: 12 Nov 2012 06:31 AM PST Advisors often manage multiple versions of a fund. These "twins" have the same manager and similar performance but are sold to different investors with differing abilities to select and monitor managers. Comparing investor flows in retail and institutional twins, we find that institutional investors are more sensitive to high fees and poor risk-adjusted performance. Consistent with the reduction... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Cash Holdings and Credit Risk Posted: 12 Nov 2012 06:31 AM PST Intuition suggests that firms with higher cash holdings should be "safer" and have lower credit spreads. Yet empirically, the correlation between cash and spreads is robustly positive. This puzzling finding can be explained by the precautionary motive for saving cash, which in our model causes riskier firms to accumulate higher cash reserves. In contrast, spreads are negatively related to the... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: The Sensitivity of Corporate Cash Holdings to Corporate Governance Posted: 12 Nov 2012 06:31 AM PST The average cash holdings of Chinese-listed firms decreased significantly after the split share structure reform in China, which specified a process that allowed previously nontradable shares held by controlling shareholders to be freely tradable on the exchanges. The reduction in cash holdings is greater for firms with weaker governance and firms facing more financial constraints prior to the... Visit MoneyScience for the Complete Article.    |
| Published / Preprint: Overvalued Equity and Financing Decisions Posted: 12 Nov 2012 06:31 AM PST We test whether and how equity overvaluation affects corporate financing decisions using an ex ante misvaluation measure that filters firm scale and growth prospects from market price. We find that equity issuance and total financing increase with equity overvaluation, but only among overvalued stocks, and that equity issuance is more sensitive than debt issuance to misvaluation. Consistent with... Visit MoneyScience for the Complete Article.    |
| Posted: 12 Nov 2012 06:31 AM PST We use a natural experiment in Denmark to test the hypothesis that aspiring entrepreneurs face financial constraints because of low entrepreneurial quality. We identify 304 constrained entrepreneurs who start a business after receiving windfall wealth and examine the performance of these marginal entrepreneurs. We find that constrained entrepreneurs have significantly lower survival rates and... Visit MoneyScience for the Complete Article.    |
| Posted: 12 Nov 2012 06:31 AM PST International equity markets are characterized by nonlinear dependence and asymmetries. We propose a new dynamic asymmetric copula model to capture long-run and short-run dependence, multivariate nonnormality, and asymmetries in large cross-sections. We find that correlations have increased markedly in both developed markets (DMs) and emerging markets (EMs), but they are much lower in EMs than in... Visit MoneyScience for the Complete Article.    |
| Posted: 12 Nov 2012 06:31 AM PST    |
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