Gender and beauty in the financial analyst profession: Evidence from the United States and China

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Happy Analysts

This paper is the first to investigate the role of work-life balance in financial analysts’ performance and career advancement. Using a large sample of Glassdoor reviews by financial analysts, we find a significant non-linear relation between broker-level work-life balance satisfaction and analyst performance and analyst career advancement. Specifically, when work-life balance satisfaction is relatively low, an increase in work-life balance is associated with better analyst performance and career advancement; however, when perceived work-life balance is already high, a further increase in work-life balance is associated with worse analyst performance and career advancement. We make further use of detailed LinkedIn data and measure work-life balance at the broker-office-level and find consistent results

Happy analysts

Also presented at 29th Annual Conference on Financial Economics and Accounting 2018, November 16-17, New Orleans, LA</p

Two variants on T2DM susceptible gene HHEX are associated with CRC risk in a Chinese population

Increasing amounts of evidence has demonstrated that T2DM (Type 2 Diabetes Mellitus) patients have increased susceptibility to CRC (colorectal cancer). As HHEX is a recognized susceptibility gene in T2DM, this work was focused on two SNPs in HHEX, rs1111875 and rs7923837, to study their association with CRC. T2DM patients without CRC (T2DM-only, n=300), T2DM with CRC (T2DM/CRC, n=135), cancer-free controls (Control, n=570), and CRC without T2DM (CRC-only, n=642) cases were enrolled. DNA samples were extracted from the peripheral blood leukocytes of the patients and sequenced by direct sequencing. The χ(2) test was used to compare categorical data. We found that in T2DM patients, rs1111875 but not the rs7923837 in HHEX gene was associated with the occurrence of CRC (p= 0.006). for rs1111875, TC/CC patients had an increased risk of CRC (p=0.019, OR=1.592, 95%CI=1.046-2.423). Moreover, our results also indicated that the two variants of HEEX gene could be risk factors for CRC in general population, independent on T2DM (p< 0.001 for rs1111875, p=0.001 for rs7923837). For rs1111875, increased risk of CRC was observed in TC or TC/CC than CC individuals (p<0.001, OR= 1.780, 95%CI= 1.385-2.287; p<0.001, OR= 1.695, 95%CI= 1.335-2.152). For rs7923837, increased CRC risk was observed in AG, GG, and AG/GG than AA individuals (p< 0.001, OR= 1.520, 95%CI= 1.200-1.924; p=0.036, OR= 1.739, 95%CI= 0.989-3.058; p< 0.001, OR= 1.540, 95%CI= 1.225-1.936). This finding highlights the potentially functional alteration with HHEX rs1111875 and rs7923837 polymorphisms may increase CRC susceptibility. Risk effects and the functional impact of these polymorphisms need further validation

Analysts, Macroeconomic News, and the Benefit of Active In-House Economists

Although macroeconomic news has a major impact on corporate earnings, anecdotal evidence suggests that financial analyst research is inefficient with respect to such news. Examining analysts' earnings research, we find that they underreact to negative macroeconomic news. Analysts are not all equal, though, as analysts employed at the same firm as an active macroeconomist underreact much less. We find that the benefit of analyst access to an economist is concentrated in firms that are high in cyclicality relative to their industry, high in cyclicality in general, and that are smaller in size. In addition, analysts who are exposed to more accurate or award-winning in-house macroeconomists benefit more. Investors appear to recognize the advantage of access to macroeconomists, reacting more strongly to these analysts' forecast revisions. Overall, our results suggest that the presence of an active in-house macroeconomist improves the efficiency and credibility of analyst research. [web URL: http://unblock-proxy.com/browse.php?u=I84IF0reZWiLRb1FSP34BAIFYBFibyw0dmVztWkceO4AbTHNf41X4BuF%2B0%2BF&b=29

Outage performance of cognitive hybrid satellite terrestrial networks with interference constraint

This paper investigates the performance of a cognitive hybrid satellite–terrestrial network, where the primary satellite communication network and the secondary terrestrial mobile network coexist, provided that the interference temperature constraint is satisfied. By using the Meijer-G functions, the exact closed-form expression of the outage probability (OP) for the secondary network is first derived. Then, the asymptotic result in a high-signal-to-noise-ratio (SNR) regime is presented to reveal the diversity order and coding gain of the considered system. Finally, computer simulations are carried out to confirm the theoretical results and reveal that a more loose interference constraint or heavier shadowing severity of a satellite interference link leads to a reduced OP, whereas stronger satellite interference power poses a detrimental effect on the outage performance