OBJECTIVE The individual placement and support model of supported employment has been shown to be more effective than other vocational approaches in improving competitive work over 1-2 years in persons with severe mental illness. The authors evaluated the longer-term effects of the model compared with traditional vocational rehabilitation over 5 years. METHOD A randomized controlled trial com...

This paper examines institutional trading in momentum portfolios. The key result is that institutions engage in momentum trading over the subsequent 3 quarters, buying winners and selling losers, in response to past returns but not past earnings news. Momentum trading is strengthened, however, when returns are accompanied by earnings news of the same sign. While past high returns predict future...

This study examines whether foreign regionand country-specific performance disclosures relate differentially to shareholder wealth compared to domestic performance disclosures. Bearing in mind the fact that, in previous literature, empirical findings regarding the value-relevance of geographic performance disparities have been surprisingly conflicting and puzzling, we question in this paper pri...

This paper studies the holistic issue of the combination of analyst projection accuracy, diversity, and distribution. It first tracks the earnings per share and sales projections of a number of equity analysts for 17 representative U.S. companies using data from 1978 to 2012. It also compares the analysts’ consensus of earnings per share, sales, rating, and price target zone to identify the deg...

This paper examines the sectoral and intertemporal impacts of international emigrant remittances by using a vector auto-regression (VAR) estimation focusing on Cambodia, Lao PDR, Myanmar and Vietnam (CLMV countries). The reason for targeting the CLMV countries is that they have still depended largely on remittance-earnings from their emigrant workers in their economies, and that the macroeconom...

Based on the big data of Chinese listed manufacturing firms, we examine relationship between research and development (R&D) investment earnings quality. We construct a regression model find that corporate R&D has positive effect is useful to repress management motives thus improve quality in firms China. And this correlation more significant state-owned than non-state-owned firms.

This study empirically investigates two effects of the availability of alternative data: stock price efficiency and its disciplining effect on managers’ actions. Recent advancements in cloud computing, data collection, and machine learning have enabled technology companies to collect real-time, granular indicators of fundamentals to be sold to investment professionals. These data include consum...

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...