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Optimism Bias in Financial Analysts' Earnings Forecasts: Do Commission-Sharing Agreements Reduce Conflicts of Interest?
Implemented in May 2007, the French rules governing commission-sharing agreements (CSAs) consist of unbundling brokerage and investment research fees. The goal of this paper is to analyze the effectExpand
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Investment and financial constraints: Does analyst coverage matter?
The goal of the paper is to check whether analyst coverage of a firm relaxes its financial constraint. Using a data set that includes Small and Middle Enterprises (SME) from six European countriesExpand
Financial development, trade agreements and international trade∗
Using a structural gravity model on a data set of 69 developed and developing countries over the period 1986-2006, we show that the trade-promoting role of financial development in the exportingExpand
Unemployment and finance: how do financial and labour market factors interact?
Using annual data for 18 OECD countries over the period 1980-2004, we investigate how labour and financial factors interact to determine unemployment. We estimate a dynamic panel model using theExpand
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