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- Publications
- Influence
Investment Banking Relationships and Analyst Affiliation Bias: The Impact of the Global Settlement on Sanctioned and Non-Sanctioned Banks
- Shane A. Corwin, Stephannie Larocque, M. Stegemoller
- Business
- 15 February 2017
We examine the impact of the Global Settlement on affiliation bias in analyst recommendations. Using a broad measure of investment bank-firm relationships, we find a substantial reduction in analyst… Expand
Forecasting Taxes: New Evidence from Analysts
- B. Bratten, C. Gleason, Stephannie Larocque, Lillian F. Mills
- Economics
- 1 May 2017
ABSTRACT: We provide new evidence about how analysts incorporate and improve on management ETR forecasts. Quarterly ETR reporting under the integral method provides mandatory point-estimate forecasts… Expand
Analysts' Earnings Forecast Errors and Cost of Equity Capital Estimates
- Stephannie Larocque
- Economics
- 1 March 2013
This study investigates the relation between analysts’ forecast errors and cost of equity capital estimates implied from analysts’ earnings forecasts and price. My analysis predicts and removes… Expand
Forecasting Tax Expense: New Evidence from Analysts
- B. Bratten, C. Gleason, Stephannie Larocque, Lillian F. Mills
- Economics
- 24 March 2015
Using recently available pre-tax earnings forecast data from 2003 to 2012, we infer analysts’ income tax expense and effective tax rate (ETR) forecasts and provide the first large-sample evidence on… Expand
Analysts’ choice of peer companies
Abstract
This is the first large-scale study to examine the peer companies used by sell-side equity analysts in their research reports. Using a unique hand-collected data set, we investigate the… Expand
Analysts’ Choice of Peer Companies
- G. Franco, Ole-Kristian Hope, Stephannie Larocque
- Business
- 1 March 2015
This is the first large-scale study to examine the peer companies used by sell-side equity analysts in their research reports. Using a unique hand-collected data set, we investigate the relation… Expand
Implied Cost of Equity Capital Estimates as Predictors of Accounting Returns and Stock Returns
- Stephannie Larocque, Matthew R. Lyle
- Business
- 6 July 2017
ABSTRACT: Using a popular return decomposition, we show that expected returns should on average be positively associated with future return on equity (ROE), controlling for the book-to-market ratio… Expand
The Effect of Disclosure on the Pay-Performance Relation
- Gus De Franco, Ole-Kristian Hope, Stephannie Larocque
- Business
- 7 November 2012
We examine whether greater transparency leads to improved evaluation and rewarding of management. We posit that disclosure improves board effectiveness at monitoring executives and in strengthening… Expand
Independent Analysts’ Estimates of Firm Value
- Kristian D. Allee, Devon K. Erickson, Adam M. Esplin, Stephannie Larocque
- Economics
- 1 April 2017
We provide new evidence on the quality of independent analysts’ firm value estimates (i.e., price targets). Whereas prior literature generally finds that independent analysts’ research underperforms… Expand
The Quality of Independent Analysts’ Firm Value Estimates: Recent Evidence from Price Targets
- Kristian D. Allee, Devon K. Erickson, Adam M. Esplin, Stephannie Larocque
- 16 September 2019
We provide new evidence on the quality of independent analysts’ firm value estimates (i.e., price targets). Whereas prior literature generally finds that independent analysts’ research underperforms… Expand
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