...Bias in European Anaiysts' Earnings Forecasts Stan Beckers, Michael Steliarcs, and Alexander Thcmson Forecasting company cnrniu^s /s ( difficult and hazardous task. In nn 7 efficient market where annly^^ts learn from ptist mistakes, there should be no persistent and systematic biases in consensus earnings accuracy. J^rcvious research has already established how some (single) individualcompany characteristics si/stematically influence forecast accuracy. So far, however, the effect on consensus eariiings biases of a comptmy's sector and country affiliatioti combined with a range of other fundameutal chanieteristics has remained largely unexplored, ilsiiig data for 19932002, this article diseiitangles and quantifies for a broad universe of European stocks how the number of analysts following a stock, the dispersion of their forecasts, the volatility of earnings, the sector and country classification of the covered conipamj, ami its nuirket capitalization influence the accuracy of the consensus earnings forecast. 5 ecurity analysts are considered to be the premier experts in the assessment of a company's prospects. Their research efforts are largely directed at producing accurate earnings forecasts, which are a key input into equity valuation models. Although the importance of financial analysis is beyond dispute, its quality has become the subject of much scrutiny and debate. Academic research has a long history of documenting systematic earnings forecast errors, but analysts'...
Words: 7728 - Pages: 31
...The Eleventh IAU General Conference 22-25 August 2000 International Convention Centre Durban, South Africa Conference Bibliography Bibliographie de la Conférence I. Selected Bibliographie Bibliographie sélective II. Higher Education Publishing Organisations Organismes publiant sur l’enseignement supérieur IAU/UNESCO Information Centre on Higher Education Bibliographic Database on Higher Education HEDBIB HEDBIB 1 IAU Ge Bibliographic Database on Higher Education HEDBIB The International Bibliographic Database on Higher Education (HEDBIB) is an integrated database including over 25.000 references, from 1988 onward, on higher education systems, administration, planning and policy,costs and finances, evaluation of higher education, issues related to staff and students, cooperation, mobility and equivalences of degrees, curricula, teaching methods and learning processes. It is available in the UNESCO CD-ROM “UNESCO DATABASES” (current ed: 1999). List of Participants in the HEDBIB database International Association of Universities (IAU) IAU/UNESCO Information Centre on Higher Education Coordinating Agency and Bibliographical Reference Service Elzbieta Karwat - Head Librarian Unesco House, 1, rue Miollis, 75732 Paris cedex 15, France karwat.iau@unesco.org http://www.unesco.org/iau ERIC Clearinghouse on Higher Education (ERIC) 1100 West Street, Second Floor, Laurel, Maryland 20707-3598, USA http://www.gwu.edu/~eriche UNESCO Headquarters...
Words: 15217 - Pages: 61
...BATMAN AND PHILOSOPHY THE DARK KNIGHT OF THE SOUL Edited by Mark D. White and Robert Arp @ WILEY John Wiley & Sons, Inc. To the memory of Heath Ledger (1979-2008) Copyright © 2008 by john Wiley & Sons, Inc. All rights reserved Published by john Wiley & Sons, Inc., Hoboken, New jerney Published simultaneously in Canada No part of this publication may be reproduced, stored in a reaieval system, or transmit ted in any fonn or by any means. electronic, mechanical, photocopying, recording, scan ning, or otherwise, except as pennitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written pennission of the Publisher, Clearance Center, 222 Rosewood Drive, Danvern, MA 01923, (978) 750-8400, fax (978) sion should be addressed to the Pennissions Department,john Wiley & Sons,Inc., III or authorization through payment of the appropriate per-copy fee to the Copyright 646-8600, or on the web at www.copyright.com. Requests to the Publisher for pennis River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.comlgo/pennissions. Limit ofLiabilirylDisclaimer ofWarranry:While the publisher and the author have used their best efforts in preparing this book., they make no representations or warranties with respect to the accuracy or completeness of the contents of this hook and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty...
Words: 8400 - Pages: 34
...What about Violence in Movies? Manabu Ozawa from Japan |[pic] | | |PHOTO BY THOMAS PETERS | | |"Action movies with violence take heat from adults who blame | | |them for real life violence because they are closer to reality | | |than other movies." | | "The question whether movie violence should be regulated or not is a difficult and complicated matter." Although many people criticize violent movies, if there is a movie which does not contain sex and violence, who will go to see that movie? Most major movies, such as "Lethal Weapon", "Die Hard", and "Independence Day", were really popular in spite of the fact that the "good guy" killed more people than the "bad guy" did. In my opinion, Hollywood tends to produce few kinds of movies--action, panic, love story, and comedy. Whenever I watch a movie or a video, there is at least one murder in each movie. The biggest number of deaths are in the panic movies, in my opinion. Action movies with violence take heat from adults who blame them for real life violence because they are closer to reality than other movies. For example, in "Natural Born Killers" we can see around 50 deaths, whereas in "Independence Day" thousands of people die. In both movies, tons of people are killed, though the ways to kill are different. The big difference between them is about reality. |[pic] ...
Words: 20424 - Pages: 82
...FREAKONOMICS A Rogue Economist Explores the Hidden Side of Everything Revised and Expanded Edition Steven D. Levitt and Stephen J. Dubner CONTENTS AN EXPLANATORY NOTE In which the origins of this book are clarified. vii PREFACE TO THE REVISED AND EXPANDED EDITION xi 1 INTRODUCTION: The Hidden Side of Everything In which the book’s central idea is set forth: namely, if morality represents how people would like the world to work, then economics shows how it actually does work. Why the conventional wisdom is so often wrong . . . How “experts”— from criminologists to real-estate agents to political scientists—bend the facts . . . Why knowing what to measure, and how to measure it, is the key to understanding modern life . . . What is “freakonomics,” anyway? 1. What Do Schoolteachers and Sumo Wrestlers Have in Common? 15 In which we explore the beauty of incentives, as well as their dark side—cheating. Contents Who cheats? Just about everyone . . . How cheaters cheat, and how to catch them . . . Stories from an Israeli day-care center . . . The sudden disappearance of seven million American children . . . Cheating schoolteachers in Chicago . . . Why cheating to lose is worse than cheating to win . . . Could sumo wrestling, the national sport of Japan, be corrupt? . . . What the Bagel Man saw: mankind may be more honest than we think. 2. How Is the Ku Klux Klan Like a Group of Real-Estate Agents? 49 In which it is argued that nothing is more powerful than information,...
Words: 105214 - Pages: 421
...Cultural Moves AMERICAN CROSSROADS Edited by Earl Lewis, George Lipsitz, Peggy Pascoe, George Sánchez, and Dana Takagi 1. Border Matters: Remapping American Cultural Studies, by José David Saldívar 2. The White Scourge: Mexicans, Blacks, and Poor Whites in Texas Cotton Culture, by Neil Foley 3. Indians in the Making: Ethnic Relations and Indian Identities around Puget Sound, by Alexandra Harmon 4. Aztlán and Viet Nam: Chicano and Chicana Experiences of the War, edited by George Mariscal 5. Immigration and the Political Economy of Home: West Indian Brooklyn and American Indian Minneapolis, by Rachel Buff 6. Epic Encounters: Culture, Media, and U.S. Interests in the Middle East,1945–2000, by Melani McAlister 7. Contagious Divides: Epidemics and Race in San Francisco’s Chinatown, by Nayan Shah 8. Japanese American Celebration and Conflict: A History of Ethnic Identity and Festival, 1934–1990, by Lon Kurashige 9. American Sensations: Class, Empire, and the Production of Popular Culture, by Shelley Streeby 10. Colored White: Transcending the Racial Past, by David R. Roediger 11. Reproducing Empire: Race, Sex, Science, and U.S. Imperialism in Puerto Rico, by Laura Briggs 12. meXicana Encounters: The Making of Social Identities on the Borderlands, by Rosa Linda Fregoso 13. Popular Culture in the Age of White Flight, by Eric Avila 14. Ties That Bind: The Story of an Afro-Cherokee Family in Slavery and Freedom, by Tiya Miles 15. Cultural Moves: African Americans and the Politics of...
Words: 98852 - Pages: 396
...Instructor’s Manual and Test Bank to accompany A First Look at Communication Theory Sixth Edition Em Griffin Wheaton College prepared by Glen McClish San Diego State University and Emily J. Langan Wheaton College Published by McGrawHill, an imprint of The McGrawHill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright Ó 2006, 2003, 2000, 1997, 1994, 1991 by The McGrawHill Companies, Inc. All rights reserved. The contents, or parts thereof, may be reproduced in print form solely for classroom use with A First Look At Communication Theory provided such reproductions bear copyright notice, but may not be reproduced in any other form or for any other purpose without the prior written consent of The McGrawHill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. PREFACE Rationale We agreed to produce the instructor’s manual for the sixth edition of A First Look at Communication Theory because it’s a first-rate book and because we enjoy talking and writing about pedagogy. Yet when we recall the discussions we’ve had with colleagues about instructor’s manuals over the years, two unnerving comments stick with us: “I don’t find them much help”; and (even worse) “I never look at them.” And, if the truth be told, we were often the people making such points! With these statements in mind, we have done some serious soul-searching about the texts that so many teachers—ourselves...
Words: 159106 - Pages: 637
...▼How to Get Rich ◄ 2 ► ▼How to Get Rich Contents Title Page Dedication Introduction Five Billion Reasons Why You Should Read This Book PART I The Donald J. Trump School of Business and Management PART II Your Personal Apprenticeship (Career Advice from The Donald) PART III Money, Money, Money, Money PART IV The Secrets of Negotiation PART V The Trump Lifestyle ◄ 3 ► ▼How to Get Rich PART VI Inside The Apprentice Acknowledgments Appendix Behind the Scenes at the Trump Organization About the Author Also by Donald J. Trump Copyright ◄ 4 ► ▼How to Get Rich To my parents, Mary and Fred Trump ◄ 5 ► ▼How to Get Rich The Mother of All Advice Trust in God and be true to yourself. —Mary Trump, my mother When I look back, that was great advice, concise and wise at once. I didn’t really get it at first, but because it sounded good, I stuck to it. Later I realized how comprehensive this is—how to keep your bases covered while thinking about the big picture. It’s good advice no matter what your business or lifestyle. —DJT ◄ 6 ► ▼How to Get Rich TRUMP How to Get Rich ◄ 7 ► ▼How to Get Rich Introduction Five Billion Reasons Why You Should Read This Book A lot has happened to us all since 1987. That’s the year The Art of the Deal was published and became the bestselling business book of the decade, with over three million copies in print. (Business Rule #1: If you don’t tell people about your success, they probably won’t know...
Words: 53431 - Pages: 214
...▼How to Get Rich ◄ 2 ► ▼How to Get Rich Contents Title Page Dedication Introduction Five Billion Reasons Why You Should Read This Book PART I The Donald J. Trump School of Business and Management PART II Your Personal Apprenticeship (Career Advice from The Donald) PART III Money, Money, Money, Money PART IV The Secrets of Negotiation PART V The Trump Lifestyle ◄ 3 ► ▼How to Get Rich PART VI Inside The Apprentice Acknowledgments Appendix Behind the Scenes at the Trump Organization About the Author Also by Donald J. Trump Copyright ◄ 4 ► ▼How to Get Rich To my parents, Mary and Fred Trump ◄ 5 ► ▼How to Get Rich The Mother of All Advice Trust in God and be true to yourself. —Mary Trump, my mother When I look back, that was great advice, concise and wise at once. I didn’t really get it at first, but because it sounded good, I stuck to it. Later I realized how comprehensive this is—how to keep your bases covered while thinking about the big picture. It’s good advice no matter what your business or lifestyle. —DJT ◄ 6 ► ▼How to Get Rich TRUMP How to Get Rich ◄ 7 ► ▼How to Get Rich Introduction Five Billion Reasons Why You Should Read This Book A lot has happened to us all since 1987. That’s the year The Art of the Deal was published and became the bestselling business book of the decade, with over three million copies in print. (Business Rule #1: If you don’t tell people about your success...
Words: 53431 - Pages: 214
...STARS WITHOUT NUMBER For Eden, who gave me a reason. TABLE OF CONTENTS Introduction ..............................................................................................................5 Character Creation ....................................................................................................7 Psionics ...................................................................................................................25 Equipment ..............................................................................................................33 Systems ...................................................................................................................59 The History of Space ...............................................................................................71 Game Master’s Guide ..............................................................................................78 World Generation ...................................................................................................87 Factions .................................................................................................................113 Adventure Creation ...............................................................................................128 Alien Creation .......................................................................................................138 Xenobestiary ........................................................................
Words: 143564 - Pages: 575
