منابع مشابه
Can Noise Create the Size and Value Effects?
Can Noise Create the Size and Value Effects? Small-capitalization and value stocks are likely to predominantly have negative noise, while large-capitalization and growth stocks are likely to have positive noise, if prices contain random noise. Negative price noise implies that small-capitalization and value stocks are more likely undervalued and thus have higher expected return than justified b...
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Virtual communities include everything from discussion boards to massive multiplayer online role-playing games and virtual realities such as Second Life. The business world has assumed that virtual communities can be leveraged to provide access to consumers and consumer data. The benefits of this assumption have not always been realized. The purpose of this article is to understand why some bus...
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The present book presents a novel perspective of the innovation process, focusing on the strategic role that may be played by tradition as a source upon which building novelty and shaping competition. Following the recombinant view of innovation, which sees knowledge creation as a recombination associated with the development of a new product, process, or market by combining existing bits of kn...
متن کاملExecutive pay, earnings manipulation and shareholder litigation
The paper examines the role of executive compensation in inducing management behavior that triggers private securities litigation. Incentive pay in the form of options is found to increase the probability of securities class action lawsuits, holding constant a wide range of other firm characteristics. In contrast, base pay levels and share ownership do not have a significant impact on lawsuit i...
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We study the effect of earnings manipulation on incentives within the corporate hierarchy. Division managers have to be compensated for not blowing the whistle when top managers manipulate earnings. We show that it is easier for division managers to prove top management’s manipulations when the performance of their own division is low. Earnings manipulation therefore undermines middle managers’...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2007
ISSN: 1556-5068
DOI: 10.2139/ssrn.1107286