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Academics
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Latest Headlines
A seasonal component to bank earnings?
A lot of industries' earnings have a seasonal element. But few thought that bank earnings were in that bucket. A New York Times columnist, however, has eyeballed some FDIC data and suggested there may be something to the idea. "There is a remarkable seasonal pattern to the number of banks repo
The real cost of improved audit and compensation committees
Boards historically have two main functions: to monitor corporate activity and to provide strategic advice. If you ask directors, the far majority will tell you the fun part of the job is to provide strategic advice. There may be some real "board" nerds, who like to stay abreast of the minutia
Survivorship bias distorts hedge funds performance data
An old chestnut among critics of mutual funds ( mutual fund news) is survivorship bias, an old but true criticism. The fact is that poorly performing funds are merged in with other funds or liquidated, which means the fund's performance numbers stop being reported.
Bloomberg notes that
Uptick rule: Who's for it? Who's against it?
Reuters said this about the SEC's meeting on Tuesday about short selling: "Financial professionals, academic experts and the U.S. broker-dealer watchdog agree the Securities and Exchange Commission should not reinstate its old uptick rule to regulate short selling..."
But here's what the
Academics weigh in on Sarbox and IPOs
The media was chock full of stories recently about the dearth of venture-capital-backed initial public offers. The easy culprit is Sarbanes-Oxley. But as a counter to that view, consider some research by a trio of academics who looked at offerings from 1993 to 2007. They found a "statistically sig
Wall Street should fear academics
Wall Street firms would be wise to beware of academics out to make a name for themselves. There have been quite a few cases where professors have caught the eye of regulators: the order handling rules, way back when; the still on-going options backdating scandal. These are two examples of academi
