How Good Is Good News? Technology Depth, Book-to-Market Ratio, and Innovative Events

How good is good news? technology depth, book-to-market ratio, and innovative events

This paper examines the stock market reactions to US biotech firms’ innovation news announcements during 1983-1993. Besides the positive abnormal returns observed during the announcement period, the paper identifies a medium-horizon negative drift in the stock price subsequent to firms’ innovative events. The observed negative drift is robust to the benchmarks and procedures used in calculating...

Why and How Is Compassion Necessary to Provide Good Healthcare? Comments From an Academic Physician; Comment on “Why and How Is Compassion Necessary to Provide Good Quality Healthcare?”

This is a short commentary to the editorial issued by Marianna Fotaki, entitled: “Why and how is compassion necessary to provide good quality healthcare.” It introduces the necessity of a more cognitive approach to explore further the determinants of behavior towards compassionate care. It raises questions about the importance of training towards a more patient-care and values driven healthcare...

No News is Good News

It seems plausible that an increase in stock market volatility raises required stock returns, and thus lowers stock prices. We develop a formal model of this volatility feedback effect using a simple model of changing variance (a quadratic generalized autoregressive conditionally heteroskedastic, or QGARCH, model). Our model is asymmetric and helps to explain the negative skewness and excess ku...

NO news is good news.

Why and How Is Compassion Necessary to Provide Good Quality Healthcare?

Recent disclosures of failures of care in the National Health Service (NHS) in England have led to debates about compassion deficits disallowing health professionals to provide high quality responsive care. While the link between high quality care and compassion is often taken for granted, it is less obvious how compassion – often originating in the individual’s emotional response – can become ...