You Can Fool Some People Sometimes
Esta me foi enviada pelo sempre perspicaz Alessandro Marques (falando em perspicazes, por onde andará o nosso recém-formado economista Davi?).
Authors: Rasa Karapandza, Milos Bozovic
Comments: 10 pages, 1 figure, 4 tables
Subj-class: Statistics
MSC-class: 62-07
We develop an empirical procedure to quantify future company performance based on top management promises. We find that the number of future tense sentence occurrences in 10-K reports is significantly negatively correlated with the return as well as with the excess return on the company stock price. We extrapolate the same methodology to US presidential campaigns since 1960 and come to some startling conclusions.
Mais detalhes aqui.
Esta me foi enviada pelo sempre perspicaz Alessandro Marques (falando em perspicazes, por onde andará o nosso recém-formado economista Davi?).
Authors: Rasa Karapandza, Milos Bozovic
Comments: 10 pages, 1 figure, 4 tables
Subj-class: Statistics
MSC-class: 62-07
We develop an empirical procedure to quantify future company performance based on top management promises. We find that the number of future tense sentence occurrences in 10-K reports is significantly negatively correlated with the return as well as with the excess return on the company stock price. We extrapolate the same methodology to US presidential campaigns since 1960 and come to some startling conclusions.
Mais detalhes aqui.
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