Review of Accounting and Finance: Volume 1 Issue 4

Are Analysts' Stock Recommendations Really Relative to the Market?

Leonard C. Softer

The skewness in security analysts' recommendations is well documented, and is generally attributed to analysts' need to maintain good relations with the companies they follow. I…

Presidential administration and day‐of‐the‐week effects in the Standard & Poor's 500 stock index

Stephen P. Keef, Melvin L. Roush

In a recent study, Liano, Liano and Manakyan (1999) conclude that the pattern of day‐of‐the‐week effects in stock indices differs between Democratic administrations and Republican…

Is Uncertainty about Future Earnings Higher for Emerging Economy Enterprises?

Tony Kang

Anecdotal evidence suggests that emerging economy enterprises face higher uncertainty in business operations compared to their counterparts in more developed economies. However…

What factors drive and which act as a brake on the convergence of financial statements in EMU member countries?

José L. Gallizo, Manuel Salvador

The results of recent macroeconomic studies have consistently reflected economic convergence among the Economic and Monetary Union (EMU) countries. In this paper, we propose to…

Tradable Environmental Pollution Credits: A New Financial Asset

Richard F. Kosobud, Houston H. Stokes, Carol D. Tallarico

A new financial asset (Allotment Trading Unit or ATU) that allows a firm to pollute was issued to a number of Chicago firms in 2000 as part of a cap‐and‐trade model to reduce…