Physical Electronics and Surface Physics

Contains reports on two research projects.National Aeronautics and Space Administration (Grant NGR-22-009-091)M. I. T. Cabot Solar Energy FundJoint Services Electronics Programs (U. S. Army, U. S. Navy, and U. S. Air Force) under Contract DA 28-043-AMC-02536(E

Physical Electronics and Surface Physics

Contains research objectives and reports on two research projects.National Aeronautics and Space Administration (Grant NGR-22-009-091)M. I. T. Cabot Solar Energy FundJoint Services Electronics Programs (U. S. Army, U.S. Navy, and U.S. Air Force) under Contract DA 28-043-AMC-02536(E

Physical Electronics and Surface Physics

Contains research objectives, summary of research and reports on three research projects.National Aeronautics and Space Administration (Grant NGR-22-009-091)M.I.T. Cabot Solar Energy FundJoint Services Electronics Programs (U. S. Army, U.S. Navy, and U. S. Air Force) under Contract DA 28-043-AMC-02536(E

Physical Electronics and Surface Physics

Contains research objectives and reports on four research projects.National Aeronautics and Space Administration (Grant NGR-22-009-091)M. I. T. Cabot Solar Energy FundJoint Services Electronics Programs (U. S. Army, U.S. Navy, and U.S. Air Force) under Contract DA 36-039-AMC-03200(E

Physical Electronics and Surface Physics

Contains reports on three research projects.Joint Services Electronics Programs (U. S. Army, U. S. Navy, and U. S. Air Force) under Contract DA 36-039-AMC-03200(E)National Aeronautics and Space Administration (Grant NGR-22-009-09-091)National Aeronautics and Space Administration (Grant NsG-496

Insolubility Theorems and EPR Argument

I wish to thank in particular Arthur Fine for very perceptive comments on a previous draft of this paper. Many thanks also to Theo Nieuwenhuizen for inspiration, to Max Schlosshauer for correspondence, to two anonymous referees for shrewd observations, and to audiences at Aberdeen, Cagliari and Oxford (in particular to Harvey Brown, Elise Crull, Simon Saunders, Chris Timpson and David Wallace) for stimulating questions. This paper was written during my tenure of a Leverhulme Grant on ‘The Einstein Paradox’: The Debate on Nonlocality and Incompleteness in 1935 (Project Grant nr. F/00 152/AN), and it was revised for publication during my tenure of a Visiting Professorship in the Doctoral School of Philosophy and Epistemology, University of Cagliari (Contract nr. 268/21647).Peer reviewedPostprin

Earnings Surprises and the Options Market

Numerous articles over the past few decades have documented a consistent relationship between earnings surprises and subsequent stock price performance. [See, for example, Ball and Brown (1968), Rendleman, Jones, and Latane (1982), Foster, Olsen, and Shevlin (1984), and Bernard and Thomas (1989).] Specifically when firms announce quarterly earnings figures that are higher (lower) than market expectations, as proxied by either mechanical time-series models or commercially available analysts’ forecasts, the stock price performance following the announcement tends to be abnormally good (bad). This phenomenon is referred to as post-earnings-announcement drift or the standardized unexpected earnings effect, SUE for short

Earnings Surprises and the Options Market

Numerous articles over the past few decades have documented a consistent relationship between earnings surprises and subsequent stock price performance. [See, for example, Ball and Brown (1968), Rendleman, Jones, and Latane (1982), Foster, Olsen, and Shevlin (1984), and Bernard and Thomas (1989).] Specifically when firms announce quarterly earnings figures that are higher (lower) than market expectations, as proxied by either mechanical time-series models or commercially available analysts’ forecasts, the stock price performance following the announcement tends to be abnormally good (bad). This phenomenon is referred to as post-earnings-announcement drift or the standardized unexpected earnings effect, SUE for short

Do dividends signal future earnings in the Nordic stock markets?

We study the informational content of dividends on three Nordic civil law markets, where other simultaneous but blurring motives for dividends may be weaker. Using aggregate data on real earnings per share and payout ratios, long time series from 1969 to 2010, and methodologies which address problems of endogeneity, non-stationarity and autocorrelation (including a Vector Error Correction Model approach), we find evidence on dividend signaling in Nordic markets. However, we also find heterogeneity in the relationship between dividends and earnings on markets similar in many respects, suggesting that even small variations in the institutional surroundings may be important for the results