This study examines how individual investor trade in response to quarterly earnings surprises and the relation of trades to subsequent returns. Individuals are highly significant net buyers after negative earnings surprises; net buying is weaker after positive surprises. There is no indication that trading by any of our investor subcategories explains the concentration of drift at subsequent ea...

The earnings replacement rates of retired couples, which take into account the earnings and benefits of wives, are important for assessing the adequacy of social security benefits. Using data from the Social Security Administration’s longitudinal Retirement History Study, this article presents the first view of replacement rates for couples. The findings show that, though about half the wives c...

Temporary workers make up a sizeable part of the labor force in many countries, including Korea. This paper uses an extension of a standard efficiency wage model to explain the wage gap between temporary and permanent workers. Temporary workers have a chance to become permanent; this possibility – combined with the existence of an employment rent for permanent workers – gives short-term workers...

Prior research, especially in the UK, has established a positive relationship, in crosssectional regression analyses, between market value and dividends. This result holds after controlling for the effects of earnings, book value, major media advertising expenditures, research and development expenditures, capital expenditures, capital contributions and ‘other information’. Papers with this res...

The Gender Earnings Gap in Britain The earnings gap between male and female employees is substantial and persistent. Using new data for Britain, this paper shows that an important contribution to this gap is made by the workplace in which the employee works. Evidence for workplace and occupational segregation as partial explanations of the earnings gap is presented. Having allowed also for indi...

This study aims to determine the effect of profitability, capital structure and liquidity on earnings response coefficient (ERC). The data used as research objects are 100 manufacturing companies listed Indonesia Stock Exchange in 2021. results revealed that profitability have a positive influence ERC, while does not affect ERC. value has market reactions making decisions invest. high company’s...

Using a data set of Taiwanese female graduates in 2006, this study finds that height and earnings are positively correlated for full-time workers. However, it is not because tall individuals went to better colleges or received better grades (cognitive ability), not because they are gifted with superior physical strength or because they have participated in more extracurricular activities (non-c...

Significant changes in mean and median analysts’ forecasts errors documented in recent studies are not synchronized across commercial forecast databases over time and are, in large part, a function of the definitions and procedures that determine the reported earnings component of earnings surprises. In this study we describe a number of complications researchers face in drawing inferences from...