Topic
Stock (geology)
About: Stock (geology) is a research topic. Over the lifetime, 31009 publications have been published within this topic receiving 783542 citations.
Papers published on a yearly basis
Papers
More filters
TL;DR: In this paper, the authors examined the gains and losses to senior managers and shareholders of twenty-nine large conglomerates from 1970 through 1975, and found that the average manager's annual gains from changes in stock returns far exceeded his remuneration, and that top managers of companies where stock returns decreased left their positions more frequently than did the officers of the other companies.
204 citations
Posted Content•
TL;DR: In this article, the authors explore the usefulness of patent citations as a measure of the "importance" of a firm's patents, as indicated by the stock market valuation of the firm's intangible stock of knowledge.
Abstract: We explore the usefulness of patent citations as a measure of the "importance" of a firm's patents, as indicated by the stock market valuation of the firm's intangible stock of knowledge. Using patents and citations for 1963-1995, we estimate Tobin's q equations on the ratios of R&D to assets stocks, patents to R&D, and citations to patents. We find that each ratio significantly affects market value, with an extra citation per patent boosting market value by 3%. Further findings indicate that "unpredictable" citations have a stronger effect than the predictable portion, and that self-citations are more valuable than external citations.
204 citations
TL;DR: The authors found that investors are reluctant to repurchase stocks previously sold for a loss and stocks that have risen in price subsequent to a prior sale, which reflected investors' emotional reactions to trading and their attempts to distance themselves from negative emotions (e.g., disappointment, regret).
Abstract: Investors' previous experiences with a stock affect their willingness to repurchase that stock. Using detailed trade data from two brokers, the authors document that investors are reluctant to repurchase stocks previously sold for a loss and stocks that have risen in price subsequent to a prior sale. The authors propose that this behavior reflects investors' emotional reactions to trading and their attempts to distance themselves from negative emotions (e.g., disappointment, regret). Investors are disappointed when they sell a stock for a loss and regret having ever purchased the stock; these negative emotions deter investors from later repurchasing stocks they sold for a loss. Having sold a stock, investors are disappointed if the stock continues to rise and regret having sold the stock in the first place; these negative emotions deter investors from repurchasing stocks that go up since being sold. Thus, investors engage in reinforcement learning by repurchasing stocks whose previous purchase re...
204 citations
Posted Content•
TL;DR: In this article, the authors examined the relationship between stock returns and volatility over the period of June 1990 to April 2002 and found that contemporaneous returns and volatilities are significantly and positively correlated while there is a negative relationship between changes in volatility and stock returns.
Abstract: This paper examines the relationship between stock returns and volatility over the period of June 1990 to April 2002. We study firm-level relationship between stock returns and volatility for a sample of 25 time series for Brazilian stocks. Using Seemingly Unrelated Regressions (SUR) empirical evidence suggests that contemporaneous returns and volatilities are significantly and positively correlated while there is a negative relationship between changes in volatility and stock returns. Finally, the "leverage effect" seems to hold for Brazilian stocks as shown by the results from an AR (1)-EGARCH (1,1) estimation.
202 citations
Posted Content•
TL;DR: The authors found that gender diversity on boards is associated with higher stock values and greater profitability, and that women held 14.8% of the Fortune 500 board seats in 2007, the highest percentage in history.
Abstract: Women have been gaining ground on corporate boards. They held 14.8% of Fortune 500 seats in 2007. Yet the effect of women on corporate performance is a matter of some debate. Studies using data at one or two points in time find that gender diversity on boards is associated with higher stock values and greater profitability.
202 citations