Posts Tagged ‘Journal of Financial Economics’

Research Notes: Robert Hansen

Tuesday, May 26th, 2015

HansenRobertRobert Hansen’s paper “Can analysts pick stocks for the long-run?” has been accepted for publication in the Journal of Financial Economics. The paper, co-authored with Oya Altınkılıç and Liyu Ye, examines stock return drift following analysts’ revisions of their stock recommendations. The paper finds that during the high-frequency algorithmic trading period of 2003-2010, the stock return drift is not significantly different from zero, overturning previous research findings. The authors’ new findings agree with improved market efficiency after declines in real trading cost inefficiencies associated with transacting on analysts’ reports. Hansen is the Francis Martin Chair in Business and professor of finance.


Research Notes: Lingling Wang

Wednesday, April 30th, 2014

WangLinglingLingling Wang’s paper “Culture and R2,” co-authored with Cheol Eun and Steven Xiao, has been accepted for publication in the Journal of Financial Economics. In the paper, the authors find that stock prices co-move more in culturally tight and collectivistic countries and less in culturally loose and individualistic countries. Their study suggests that culture is an important omitted variable in the literature that investigates cross-country differences in stock price co-movements. Wang is an assistant professor of finance at the A. B. Freeman School of Business.



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