This study uses the segmented dual-class shares of Chinese firms---A shares traded inside mainland China by local investors and H shares traded in Hong Kong by foreign investors---to analyze how local and foreign investors react to public news about the same firms. We find significant heterogeneity in their reactions. First, foreign investors react more strongly to earnings announcements. Secon...

A variety of alternative definitions and sources of actual earnings realizations are available to investors. In addition to “traditional” earnings numbers produced in conformity with generally accepted accounting principles (GAAP) and filed with the Securities and Exchange Commission (SEC), these alternative measures include the so-called Street earnings numbers that are based on proprietary de...

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energy price forecast is the key information for generating companies to prepare their bids in the electricity markets. however, this forecasting problem is complex due to nonlinear, non-stationary, and time variant behavior of electricity price time series. accordingly, in this paper a new strategy is proposed for electricity price forecast. the forecast strategy includes wavelet transform (wt...

The Ohlson model is evaluated using quarterly data from stocks in the Dow Jones Index. A hierarchical Bayesian approach is developed to simultaneously estimate the unknown coefficients in the time series regression model for each company by pooling information across firms. Both estimation and prediction are carried out by the Markov chain Monte Carlo (MCMC) method. Our empirical results show t...

The main goal of this paper is to study statistical indices and evaluate AGC indices in power system which has large penetration of the WTGs. Increasing penetration of wind turbine generations, needs to study more about impacts of it on power system frequency control. Frequency control is changed with unbalancing real-time system generation and load . Also wind turbine generations have more flu...

Energy price forecast is the key information for generating companies to prepare their bids in the electricity markets. However, this forecasting problem is complex due to nonlinear, non-stationary, and time variant behavior of electricity price time series. Accordingly, in this paper a new strategy is proposed for electricity price forecast. The forecast strategy includes Wavelet Transform (WT...

DuPont analysis, a common form of financial statement analysis, decomposes return on net operating assets into two multiplicative components: profit margin and asset turnover. These two accounting ratios measure different constructs and, accordingly, have different properties. Prior research has found that a change in asset turnover is positively related to future changes in earnings. This pape...