Scientists Replicated 100 Psychology Studies, and Fewer Than Half Got the Same Results | Science | Smithsonian
This is troubling in many ways. I would expect the numbers to be better in finance (especially the mathematical studies and modeling studies), but I have no doubt that the timing of studies matters and that the replication is often impossible (possibly in part since the original study influences the subjects/markets).
Scientists Replicated 100 Psychology Studies, and Fewer Than Half Got the
Bankrupt Family Firms by Massimo Massa, Alminas Zaldokas :: SSRN
For good or bad, family forms are often different. In this article Massa and Zaldokas investigate these differences during a bankruptcy.
Bankrupt Family Firms by Massimo Massa, Alminas Zaldokas :: SSRN:
"Abstract: We study the role of family ownership during the bankruptcy process. We argue that at times of distress family blockholders are better positioned to manage the firm and
More than Money: Venture Capitalists on Boards by Natee Amornsiripanitch, Paul A. Gompers, Yuhai Xuan :: SSRN
More than Money: Venture Capitalists on Boards by Natee Amornsiripanitch, Paul A. Gompers, Yuhai Xuan :: SSRN:
In the department of "this fits what I teach perfectly"/ (Confirmation bias?), a new paper shows again that venture capitalists bring more tot the table than just capital. Their expertise and relationships also matter.
"... a prior relationship with the founder, lead investor status,
In the department of "this fits what I teach perfectly"/ (Confirmation bias?), a new paper shows again that venture capitalists bring more tot the table than just capital. Their expertise and relationships also matter.
"... a prior relationship with the founder, lead investor status,
Rankings of Published Price-Earnings Ratios and Investor Attention by Jordan Moore :: SSRN
Rankings of Published Price-Earnings Ratios and Investor Attention by Jordan Moore :: SSRN:
Jordan Moore shows that PE Rankings (independent of the PE ratio itself) are associated with returns. This is a cool finding. It is at least consistent a view that investors' screening practices impact their investment results.
A "look-in":
"Results of empirical tests provide preliminary support for
Politically Connections, Institutional Monitoring and Earnings Quality: Some Evidence from Malaysia by Tee Chwee Ming :: SSRN
Politically Connections, Institutional Monitoring and Earnings Quality: Some Evidence from Malaysia by Tee Chwee Ming :: SSRN:
Ming and Gal have an interesting study on the behavior and monitoring of politically connected firms in Malaysia. There three main findings are that politically connected firms
have lower earnings quality
"are not subject to market discipline despite reporting poor
Ming and Gal have an interesting study on the behavior and monitoring of politically connected firms in Malaysia. There three main findings are that politically connected firms
have lower earnings quality
"are not subject to market discipline despite reporting poor
Corporate governance: the great debate – Director Magazine
Corporate governance: the great debate – Director Magazine:
"“Corporate governance is fast-changing and organic, and this is about stimulating a debate,” explains Oliver Parry, the IoD’s senior corporate governance adviser. “This report began with us working towards a good governance index of listed companies and evolved into a focus point for debate on the issue.” Companies of all sizes, says
"“Corporate governance is fast-changing and organic, and this is about stimulating a debate,” explains Oliver Parry, the IoD’s senior corporate governance adviser. “This report began with us working towards a good governance index of listed companies and evolved into a focus point for debate on the issue.” Companies of all sizes, says
When CEOs Are Accidentally Overpaid - Bloomberg View
When CEOs Are Accidentally Overpaid - Bloomberg View:
great article focusing on this article by Kelly Shue
"The difference in pay between different sections was larger than the difference within different sections. Remember that these sections were randomly created. So Shue's finding means that human networks were a very important determinant of pay levels. She also found that when one
great article focusing on this article by Kelly Shue
"The difference in pay between different sections was larger than the difference within different sections. Remember that these sections were randomly created. So Shue's finding means that human networks were a very important determinant of pay levels. She also found that when one
Top-CEO Pay Isn’t Driven By Talent, New Study Says - Real Time Economics - WSJ
Top-CEO Pay Isn’t Driven By Talent, New Study Says - Real Time Economics - WSJ: "“Compensation of CEOs has far outpaced that of very highly paid workers, the top 0.1% of earners,” write Mr. Mishel and Ms. Davis. “There are substantial rents embedded in executive pay, meaning that CEO pay gains are not simply the result of a competitive market for talent,” they say, citing earlier research
Women On Wall Street: Just A Tiny Portion Of Mutual Fund Managers Are Women
Women On Wall Street: Just A Tiny Portion Of Mutual Fund Managers Are Women:
From International Business Times:
"It’s no secret that the world of finance skews heavily male. But when it comes to mutual funds, the disparity is particularly stark: Women make up just 9 percent of mutual fund managers.
The data, compiled in a recent paper by Morningstar Research Director Laura Pavlenko Lutton, are
From International Business Times:
"It’s no secret that the world of finance skews heavily male. But when it comes to mutual funds, the disparity is particularly stark: Women make up just 9 percent of mutual fund managers.
The data, compiled in a recent paper by Morningstar Research Director Laura Pavlenko Lutton, are
Malkiel: Smart Beta = Smart Marketing Doesn't Equal Smart Investing
Malkiel: Smart Beta = Smart Marketing Doesn't Equal Smart Investing: "In traditional index funds, stocks are selected and weighted according to each company's market capitalization. Smart-beta strategies weigh a portfolio's stocks on book value, cash flows and dividends, and then tweak portfolios by adding what Malkiel calls “a trick or tilt toward another factor, by weight, by value or by
What's Really Driving Income Inequality - Bloomberg View
Phenomenal article!:
What's Really Driving Income Inequality - Bloomberg View: "From 1978 to 2012, effectively all of the increase in wage inequality nationally has been due to increasing disparities from company to company. As the researchers note, “the wage gap between the most highly paid employees within these firms (CEOs and high level executives) and the average employee has increased only
What's Really Driving Income Inequality - Bloomberg View: "From 1978 to 2012, effectively all of the increase in wage inequality nationally has been due to increasing disparities from company to company. As the researchers note, “the wage gap between the most highly paid employees within these firms (CEOs and high level executives) and the average employee has increased only
An iconic chief executive vs. his company’s internal watchdogs
An iconic chief executive vs. his company’s internal watchdogs: "new details and allegations call into question how Liveris, close to presidents past and present, has been running the $58 billion company. The materials offer an inside look at how one of America’s largest multinational corporations conducts itself, and how its internal watchdogs battled their renowned chief executive over what
At long last, corporate boards step up - Fortune
At long last, corporate boards step up - Fortune: "The latest reminder is a Wall Street Journal report that federal bank regulators are grilling individual directors of major Wall Street firms, sometimes monthly, as well as sitting in on board meetings and even instructing boards to add members with specific qualifications. It’s happening at the biggest firms—JPMorgan Chase, Bank of America,
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