W e present a method for forecasting sales using financial market information and test this method on annual data for US public retailers. Our method is motivated by the permanent income hypothesis in economics, which states that the amount of consumer spending and the mix of spending between discretionary and necessity items depend on the returns achieved on equity portfolios held by consumers...

Predicting the “Value at Risk” of a portfolio of stocks is of great significance in quantitative finance. We introduce a new class models, “dynamical products of experts” that treats the latent process over volatilities as an inverse Gamma process. We show that our multivariate volatility models significantly outperform all related Garch and stochastic volatility models which are in popular use...

Issues of financial and intellectual conflict of interest in clinical practice guidelines have raised increasing concern. Professional organizations have responded by more rigorous regulation of conflict of interest. Nevertheless, tension remains between the competing goals of optimizing guideline quality by using the experience and insight of experts and ensuring that financial and intellectua...

entities must restate their comparative financial statements when they correct prior periods accounting errors or change accounting methods. although financial restatements have adverse effects on the relevance and reliability of financial statements’ information, financial restatement has increased considerably among listed companies in tehran stock exchange, tse, in the recent years. the main...

Since 1999 regulators have attempted to improve the monitoring of financial reporting by exerting significant pressure on firms to appoint accounting financial experts (AFEs) to their audit committees. Yet, many firms have been reluctant to do so, which has made these firms more prone to financial reporting problems. We examine appointments of AFEs to the audit committees of S&P 1500 firms duri...

Quantification techniques are popular methods in empirical research for aggregating the qualitative predictions at the microlevel into a single figure. In this paper, we analyze the forecasting performance of various methods that are based on the qualitative predictions of financial experts for major financial variables and macroeconomic aggregates. Based on the Centre of European Economic Rese...

Game-like three-dimensional (3D) virtual worlds have become popular venues for youth to explore and interact with friends. To bring vital financial literacy education to them in places they frequent, a multidisciplinary team of computer scientists, educators, and financial experts developed a youth-oriented financial literacy education game in the Second Life 3D online virtual world. This paper...

Valuation devices and institutional change are key aspects of financialisation, but have been largely separated in the literature. This article explores causal link between both concepts. We draw on linked ecologies framework to argue that financialised valuation, such as market valuation assets liabilities, creates opportunities for financial experts influence policy processes. Making use thei...