Harvard Law School Forum on Corporate Governance and Financial Regulation – Namho Kang is Assistant Professor of Finance at the University of Connecticut. This post is based on a recent paper authored by Professor Kang; Kenneth A. Froot, Research Associate at the National Bureau of Economic Research; Gideon Ozik, Affiliate Professor of Finance at EDHEC Business School; and Ronnie Sadka, Professor of Finance at Boston College Carroll School of Management.
Connecticut Post – Jon Litt takes an elevator down from his seventh-floor offices at the downtown Landmark Square complex and walks a few steps to visit the city’s shopping mall.
At the Stamford Town Center, the founder and chief investment officer of hedge fund Land and Buildings enjoys visiting establishments such as the Apple store and Saks Fifth Avenue Off 5TH.
But Litt sees much more than a place to go shopping.
UConn Researcher Discovers that Retail Execs Downplay, Mislead Outlook in Reports to Stockholders
Many CEOs from major U.S. retailers tend to soften, possibly even distort, their company’s financial standings and offer stakeholders pessimistic predictions about the future, even when their companies are thriving.Continue Reading
Bloomberg – It won’t surprise any market-watcher to learn that in the run-up to earnings season, companies tend to lower the bar for top and bottom line performance, thereby giving themselves better odds of exceeding analysts’ expectations.
However, a new working paper suggests that the sins of omission that occur during the corporate “cheating” season, as it was dubbed by Societe Generale Global Head of Quantitative Strategy Andrew Lapthorne, are far more insidious.