Norman Strong

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In an effort to assess agroforestry adoption potential among a diverse Pennsylvania landowner population, a mail survey instrument was sent to 250 members of the Pennsylvania Association of Sustainable Agriculture (PASA) and 250 members of Woodland Owner Associations (WOA). Current management objectives and production strategies, agroforestry awareness,(More)
This paper provides evidence of horizon-dependent underreaction in analysts’ earnings forecasts. We find that when analysts revise their forecasts of both the current and subsequent quarter's earnings, neither revision is complete and the two-quarter-ahead earnings forecast revision is less complete than the one-quarter-ahead earnings forecast revision.(More)
This paper uses a noisy rational expectations model to derive predictions about the dynamic behaviour of the proportion of institutional money managers in a given country who are bullish about the equity market in different countries. The predictions are tested using monthly data for four countries for the period October 1995 to October 2000. The empirical(More)
Stock returns around security offering announcements are conditional on firms’ selfselection into a particular security type. We use a switching regression methodology on a data set of U.S. straight debt, convertible debt, and seasoned equity offerings to estimate counterfactual announcement returns that would be obtained had the same firms instead opted(More)
Firms can improve their stock liquidity and lower their costs of capital through seasoned equity offerings (SEO). This paper examines whether SEO firms achieve a liquidity gain and the sources of this gain. It explores the role of liquidity risk in explaining SEO long-run performance. The evidence shows that SEO firms experience significant postissue(More)
We examine the influence of corporate governance quality on firms’ choice between convertible debt, straight debt, and equity using a Western European sample of security offerings made between 2000 and 2010. We find that weaker firm-specific and countryspecific corporate governance quality increases firms’ likelihood of issuing convertible debt instead of(More)
How rapidly are large cities in the United States warming? This question is important for two reasons. First, extreme temperatures are now responsible for more annual fatalities than all other forms of extreme weather and natural disasters combined, including hurricanes, tornadoes, and earthquakes. In a warming world, the public health threats of extreme(More)
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