Although earnings quality has been an important part of literature in accounting and
financial economics for some time, there are relatively few examples of empirical work …

Implementing sector rotation strategies with a set of low-frequency economic measures, the
authors construct long-only sector exchange traded fund (ETF) portfolios that respond …

With smart beta becoming increasingly popular, a swath of strategies have been designed to
provide access to a wide array of return-enhancing risk in the marketplace. Many strategies …

Banks report huge profits yearly yet some of these banks were reported to lack capital
adequacy and some were reported to be close to being insolvent. Therefore, it is important …

This report takes a fresh look at the role of the cost of capital in the regulation of UK utilities.
An earlier report (Mason, Miles and Wright, 2003, hereafter MMW) addressed a number of …

The purpose of this paper is to examine the relationship between product market structure
and earnings quality in listed companies of Tehran Stock Exchange. To achieve this goal …

I develop and test theory about the impact of heuristics on the composition of actively
managed equity portfolios. Active equity portfolio managers are charged with the task of …

We start this research by assessing if investors pay a premium for quality. That is, we reach
for evidence indicating if high-quality stocks are relatively expensive compared to low …

Paul Samuelson famously conjectured that while markets are efficient on a stock-relativeto-
other-stocks basis (high “micro efficiency”), the overall market valuations are fairly inefficient …

All too often, when it comes to long-term stock investing, an investor's perception of the
intrinsic value compared to the current stock price drives decision making. Many efforts have …