Boston College

About: Boston College is a education organization based out in Boston, Massachusetts, United States. It is known for research contribution in the topics: Population & Poison control. The organization has 9749 authors who have published 25406 publications receiving 1105145 citations. The organization is also known as: BC.

The Relation Between Corporate Financing Activities, Analysts' Forecasts and Stock Returns

Abstract: We develop a comprehensive and parsimonious measure of corporate financing activities and document a negative relation between this measure and both future stock returns and future profitability. The economic and statistical significance of the results using our comprehensive measure of external financing is stronger than in previous research focusing on individual categories of corporate financing activities. To discriminate between risk versus misvaluation as explanations for this relation, we analyze the association between our measure of external financing and sell-side analysts' forecasts. Consistent with the misvaluation explanation, we find that our measure of external financing is positively related to overoptimism in sell-side analysts' forecasts.

Does Financial Reform Raise or Reduce Saving

Abstract: The effect of financial liberalization on private saving is theoretically ambiguous, not only because the link between interest rate levels and saving is itself ambiguous, but also because financial liberalization is a multidimensional and phased process, sometimes involving reversals. Using principal components, we construct 25-year time-series indices of financial liberalization for each of eight developing countries: Chile, Ghana, Indonesia, Korea, Malaysia, Mexico, Turkey, and Zimbabwe. These are employed in an econometric analysis of private saving in these countries. Our results cannot offer support for the hypothesis that financial liberalization will increase saving. On the contrary, the indications are that liberalization overall—and in particular those elements that relax liquidity constraints—may be associated with a fall in saving.

Power factor enhancement by modulation doping in bulk nanocomposites.

Abstract: We introduce the concept of modulation doping in three-dimensional nanostructured bulk materials to increase the thermoelectric figure of merit. Modulation-doped samples are made of two types of nanograins (a two-phase composite), where dopants are incorporated only into one type. By band engineering, charge carriers could be separated from their parent grains and moved into undoped grains, which would result in enhanced mobility of the carriers in comparison to uniform doping due to a reduction of ionized impurity scattering. The electrical conductivity of the two-phase composite can exceed that of the individual components, leading to a higher power factor. We here demonstrate the concept via experiment using composites made of doped silicon nanograins and intrinsic silicon germanium grains.