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Publications

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  • October 2008
  • Article

The Effect of Macro Information Environment Change on the Quality of Management Earnings Forecasts

The 1990s were characterized by substantial increases in the performance of and investor reliance on financial analysts. Because managers possess superior private information and issue forecasts to align investors' expectations with their own, we predict that... View Details

Keywords: Information; Performance Expectations; Earnings Management; Financial Reporting; Forecasting and Prediction
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  • 2020
  • Working Paper

Is Accounting Useful for Forecasting GDP Growth? A Machine Learning Perspective

By: Srikant Datar, Apurv Jain, Charles C.Y. Wang and Siyu Zhang
We provide a comprehensive examination of whether, to what extent, and which accounting variables are useful for improving the predictive accuracy of GDP growth forecasts. We leverage statistical models that accommodate a broad set of (341) variables—outnumbering the... View Details
Keywords: Big Data; Elastic Net; GDP Growth; Machine Learning; Macro Forecasting; Short Fat Data; Accounting; Economic Growth; Forecasting and Prediction; Analytics and Data Science
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  • July 2014
  • Article

Accounting for Crises

By: Venky Nagar and Gwen Yu
We provide among the first empirical evidence consistent with recent macro global-game crisis models, which show that the precision of public signals can coordinate crises (e.g., Angeletos and Werning, 2006; Morris and Shin, 2002, 2003). In these models,... View Details
Keywords: Corporate Disclosure; Mathematical Methods; Game Theory; Financial Markets; Forecasting and Prediction; Accounting; Financial Crisis
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  • 12 Aug 2014
  • First Look

First Look: August 12

is about experimentation: the probabilities of success are low, extremely skewed, and unknowable until an investment is made. At a macro level, experimentation by new firms underlies the Schumpeterian notion of creative destruction.... View Details
Keywords: Sean Silverthorne
  • Web

Behavioral Finance & Financial Stability

of small firms. See Robin’s other research here , Benjamin’s other research here , and David’s other research here . More Info Overreaction in Macroeconomic Expectations By: Pedro Bordalo , Nicola Gennaioli , Yueran Ma & Andrei Shleifer SEP 2020 What does... View Details
  • 25 Jan 2010
  • Research & Ideas

A Macroeconomic View of the Current Economy

economy as a whole. Micro is about firms and individual actors and how they behave; macro is about aggregate performance of the economy: overall GDP, trade surplus or deficit, inflation. In principle, we should be able to get rid of the... View Details
Keywords: by Sean Silverthorne
  • Web

Research - Behavioral Finance & Financial Stability

Macroeconomic Expectations By: Pedro Bordalo , Nicola Gennaioli , Yueran Ma & Andrei Shleifer SEP 2020 What does predictability of forecast errors teach us about how market participants form expectations? The authors study the rationality... View Details
  • 24 Jan 2012
  • First Look

First Look: Jan. 24

Abstract We examine the effect of mandatory International Financial Reporting Standards (IFRS) adoption on firms' information environment. We find that after mandatory IFRS adoption, consensus forecast errors decrease for firms that... View Details
Keywords: Sean Silverthorne
  • 09 Mar 2023
  • Blog Post

Port Esbjerg: Deploying Offshore Wind

wind farm operator at the port. Running 24/7, the center monitors ships going to and from the turbines and crews working on them, as well as weather forecasts and energy demand forecasts to determine when to... View Details
  • 19 Oct 2010
  • First Look

First Look: October 19, 2010

One explanation for these patterns is that U.S. firms are organized in a way that allows them to use new technologies more efficiently. A model of endogenously chosen organizational form and IT is developed to explain these new micro and View Details
Keywords: Sean Silverthorne
  • 12 Feb 2008
  • First Look

First Look: February 12, 2007

but all share a belief in the importance of understanding change over time. Publisher's site: http://www.oup.com/us/catalog/general/subject/Business/History/ The Effect of Macro Information Environment Change on the Quality of Management... View Details
Keywords: Martha Lagace
  • 01 Mar 2015
  • News

A Boomtown's Echo

on the macro and micro effects of this boom—on the markets, the environment, and the future of small-town North Dakota. Read on for thoughts from Senior Lecturer John Macomber, Wade Myers (MBA 1994), Barbara George (MBA 1980), Professor... View Details
Keywords: Oil and Gas Extraction; Mining
  • 15 Dec 2009
  • First Look

First Look: Dec. 15, 2009

  Working PapersThe Global Networks of Multinational Firms Authors:Laura Alfaro and Maggie Chen Abstract In this paper we characterize the topology of global multinational networks and examine the macro and micro patterns of multinational... View Details
Keywords: Martha Lagace
  • 24 Jan 2017
  • First Look

First Look at New Research: January 24, 2017

earnings patterns. Firms with historically larger earnings in one quarter of the year (“positive seasonality quarters”) have higher returns when those earnings are usually announced. Analysts have more positive forecast errors in positive... View Details
Keywords: Sean Silverthorne
  • 26 Sep 2006
  • First Look

First Look: September 26, 2006

Analysts' Forecasts and Stock Returns Authors:Mark T. Bradshaw, Scott A. Richardson, and Richard G. Sloan Periodical:Journal of Accounting & Economics 42, no. 1&2 (October 2006): 53-85 Abstract We develop a comprehensive and... View Details
Keywords: Sean Silverthorne
  • 08 May 2007
  • First Look

First Look: May 8, 2007

organizational level of analysis, although frequently invoked, has been largely supplanted by either a more micro or a more macro focus. In this paper, we argue for restoring the School's original mission and perspective. Our proposal for... View Details
Keywords: Martha Lagace
  • 15 Jul 2008
  • First Look

First Look: July 15, 2008

Theory of Corporate Debt Maturity Choice Authors:Robin Greenwood, Jeremy C. Stein, and Samuel Hanson Abstract We argue that time-series variation in the maturity of aggregate corporate debt issues arises because firms behave as macro... View Details
Keywords: Martha Lagace
  • 21 Dec 2010
  • First Look

First Look: December 21

study highlights the small-world system's evolutionary dynamics at both the macro level of the network and the micro level of an individual actor. This dual analytical lens helps establish that, in competitive and information-intensive... View Details
  • 19 Feb 2019
  • First Look

New Research and Ideas, February 19, 2019

examines contemporary economic theories that focus on the design and management of business organizations. In the first part of the paper, a taxonomy is presented that describes the different types of economists interested in this subject—market economists, regulatory... View Details
Keywords: Sean Silverthorne
  • Web

Print View - Course Catalog

and compare and contrast direct, indirect and other sales models. The operations and analytics module will focus on how AI and a sales operations tool stack give visibility into sales activities and drive sales forecasting accuracy.... View Details