Seeking out non-public information : sell-side analysts and the freedom of information act

A number of sell-side healthcare analysts gain access to information outside the purview of management through Freedom of Information Act requests to the Food and Drug Administration for records on factory inspections, complaints, and drug and medical device applications. Using a difference-in-differences methodology, we find that buy (sell) recommendations and upgrades (downgrades) earn higher (lower) stock returns over the year following the receipt of FDA records. We also examine the type of information revealed in FDA factory inspection reports, and find that analysts are less likely to downgrade and are less pessimistic in their recommendations than the consensus recommendation when the information contained in the FDA report is not particularly severe. Our findings are consistent with a subset of analysts utilizing non-public information channels independent of management to gain value-relevant information about their covered firms

Abductive retrieval for multimedia information seeking

In this paper we discuss an approach to the retrieval of data annotated using the MPEG-7 multimedia description schema. In particular we describe a framework for the retrieval of annotated video samples that is based on principles from the area of abductive reasoning

Seeking alcohol information on the Internet

It has been argued that people may be more willing to seek potentially threatening information on the Internet than they would in ‘real life’ (Joinson and Banyard, 2002). For alcohol drinkers, potentially threatening information includes diagnostic information on the amount they drink, and information about the negative effects of alcohol consumption. In the present study, participants with varying levels of alcohol intake and plans for change chose four alcohol-related articles to read (from twelve) using either the world-wide web (WWW) or pen and paper. Results showed that drinkers not currently reducing their drinking were more likely to seek diagnostic, potentially threatening anti-drinking information via the WWW compared to when seeking paper-based information. Drinkers either contemplating or engaging in efforts to reduce their drinking sought pro-drinking information on the WWW, and anti-drinking information when using pen and paper. The potential role of the Internet, and perceived anonymity, in health promotion is discussed

Visual information seeking on palmtop devices

Ahlberg and Shneiderman's Starfield displays have been shown to provide fast and convenient access to large collections of data. However, the standard design requires a large, high-resolution, colour screen. This paper presents the results of a short project investigating this visual information seeking technique on a monochrome palmtop