This dissertation consists of three essays on empirical finance. In the first essay (job market paper) entitled "Why do analysts differ in forecast provision? A signaling explanation", I study financial analysts' forecast reporting behaviors. In the second essay entitled "Capacity overhang, investment, and accruals" (co-authored with Professor Peter Pope at Bocconi University), we study the dynamics of firms' investment and accruals. In the third essay entitled "How do asset pricing models capture leverage effects?" (also co-authored with Professor Peter Pope at Bocconi University), we study how empirical asset pricing models capture leverage effects in the cross section of expected stock returns.
Essays on Empirical Finance
WANG, TONG
2022
Abstract
This dissertation consists of three essays on empirical finance. In the first essay (job market paper) entitled "Why do analysts differ in forecast provision? A signaling explanation", I study financial analysts' forecast reporting behaviors. In the second essay entitled "Capacity overhang, investment, and accruals" (co-authored with Professor Peter Pope at Bocconi University), we study the dynamics of firms' investment and accruals. In the third essay entitled "How do asset pricing models capture leverage effects?" (also co-authored with Professor Peter Pope at Bocconi University), we study how empirical asset pricing models capture leverage effects in the cross section of expected stock returns.| File | Dimensione | Formato | |
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https://hdl.handle.net/20.500.14242/168413
URN:NBN:IT:UNIBOCCONI-168413