This paper presents a theoretical model that explains the effects of the use of structured development methods on the job satisfaction of programmer/analysts. In the model, the independent variable the use of structured methods is hypothesized to have an overall positive effect on the principle dependent variable the job satisfaction of programmer/analysts. This can be best explained through se...

Relying on the well-established theoretical result that uncertainty has a common and an idiosyncratic component, we propose a new measure of earnings forecast uncertainty as the sum of dispersion among analysts and the variance of mean forecast errors estimated by a GARCH model. The new measure is based on both common and private information available to analysts at the time they make their for...

We report complex phenomena arising among financial analysts, who gather information and generate investment advice, and elucidate them with the help of a theoretical model. Understanding how analysts form their forecasts is important in better understanding the financial market. Carrying out big-data analysis of the analyst forecast data from I/B/E/S for nearly thirty years, we find skew distr...

I replicate Barron, Harris, and Stanford's (2005) " Evidence That Investors Trade on Private-Event-Period Information around Earnings Announcements " which provides empirical support for theoretical models developed in Holthausen and Verrecchia (1990) and Kim and Verrecchia (1997). These model predict that private information generated at the time of an earnings announcement (private event-peri...

Dramatic world change has stimulated interest in research questions about the dynamics of politics. We have seen increases in the number of time series data sets and the length of typical time series. But three shortcomings are prevalent in published time series analysis. First, analysts often estimate models without testing restrictions implied by their specification. Second, researchers link ...

Assumptions about sell-side analysts’ objective function are critical to empirical researchers’ understanding of their incentives and the resulting behavior. This paper provides empirical evidence about the objective function underlying analysts’ choice of forecasts. In contrast to approaches used in previous papers which rely exclusively on statistical properties of forecasts, I compare theore...