Investment analysts' forecasts of earnings

The literature on investment analysts' forecasts of firms' earnings and their forecast errors is enormous. This paper summarizes the evidence on the distribution of analysts' forecasts and forecast errors using data for all U.S. firms from 1990 to 2004. The evidence indicates substantial asymmetry of earnings, earning forecasts, and forecast errors. There is strong support for average and median earning forecasts being higher than actual earnings a year before the earnings announcement. Such differences between earnings and forecasts also exist across time periods and industries. A month before the earnings announcement, the mean and median differences are small.Investments ; Forecasting

Full of Light and Fire : John Brown in Springfield

History remembers radical abolitionist John Brown (1800-1859) as the man who directed the slaughter of five pro-slavery settlers in Bleeding Kansas in 1856 and for his failed October 1859 raid on the federal armory in Harpers Ferry, Virginia. But before he committed these infamous and life-defining acts, John Brown lived and worked in Springfield, Massachusetts, from 1846 to 1849. Though originally drawn to Springfield to work as an agent for wool growers who were being taken advantage of by powerful New England mill owners, it was during his time in western Massachusetts that the nature of Brown’s abolitionism changed. While Brown was a committed abolitionist before he moved to Springfield, a position he inherited from his father and the region of Ohio where he spent his formative years, most of his early actions on behalf of the cause took the form of small, symbolic gestures. During his residency in Springfield, Brown met with Frederick Douglass for the first time and revealed to him an early version of his plan to destroy slavery. He also penned an advice essay to the black community entitled “Sambo’s Mistakes,” and founded the all-black mutual defense organization called the League of Gileadites to resist attempts at enforcing the new Fugitive Slave Act of 1850. Through each of these episodes, Brown demonstrated a more practical and radical orientation to the abolition of slavery than he had prior to moving to Springfield. The environment in Springfield helped inspire this shift in Brown. Springfield had a significant abolitionist community by the time of Brown’s arrival, many of whose members acted as agents for or conductors on the Underground Railroad. Springfield was also home to the third-largest African American community in Massachusetts. Brown spent a considerable amount of time with members of this community, hiring them to work in his wool warehouse and praying with them in the town’s only African American church. The environment and people in Springfield helped Brown become the man who would stoke the flames of sectional discord with his actions in Bleeding Kansas and his failed raid on Harpers Ferry

The Antarctic dry valley lakes: Relevance to Mars

The similarity of the early environments of Mars and Earth, and the biological evolution which occurred on early Earth, motivates exobiologists to seriously consider the possiblity of an early Martian biota. Environments are being identified which could contain Martian life and areas which may presently contain evidence of this former life. Sediments which were thought to be deposited in large ice-covered lakes are present on Mars. Such localities were identified within some of the canyons of the Valles Marineris and more recently in the ancient terrain in the Southern Hemisphere. Perennially ice-covered Antarctic lakes are being studied in order to develop quantitative models that relate environmental factors to the nature of the biological community and sediment forming processes. These models will be applied to the Martian paleolakes to establish the scientific rationale for the exobiological study of ancient Martian sediments

Quantifying the effect of mutual coupling in ultra-wideband-multi-band multiple input multiple output systems

The combination of ultra-wideband (UWB) spectrum with Multiple-Input Multiple-Output (MIMO) system techniques show great promise for developing very high bandwidth wireless personal area networks (WPANs). While these networks have been explored in theory, there is little literature regarding the practical limitations of this technology. Speci cally, the mutual coupling between the antennas in the system is usually ignored.This thesis quanti es the e ects of mutual coupling in MIMO UWB systems. A variety of antenna geometries and spacings were simulated. Several scenarios in a typical WPAN environment were simulated using electromagnetic ray tracing (ERT) techniques. These results were validated using network analyzer channel measurements. These results show mutual coupling has a signi cant impact on channel capacity. Furthermore, in most scenarios, mutual coupling can actually improve the channel capacity by decorrelating adjacent spatial channels. Knowledge of this potential bene t of mutual coupling in MIMO-UWB systems will allow future WPAN designers to develop systems using small, multi-antenna devices with very high capacities.M.S., Electrical Engineering -- Drexel University, 200

Comunicação corporativa e gerenciamento de reputação em organizações esportivas

Estabelecer um perfil comprometido com seus públicos deveria ser premissa de uma organização esportiva. A Reputação consiste na elevação da imagem positiva à condição de aura. O clube e seus atletas deveriam, então, integrar uma comunidade de pessoas e entidades que partilham os mesmos propósitos. As entidades esportivas já vêm assimilando o que há de melhor em outras práticas de mercado, na maioria das vezes, diretamente ligadas a aspectos de gestão. Porém, é fundamental a compreensão, por parte dos gestores envolvidos em tais organizações, se os referidos conceitos estão sendo trabalhados adequadamente. Este artigo, através de levantamento bibliográfico nos principais jornais e revistas da área, busca entender a origem do constructo Reputação e sua aplicação no universo corporativo, comparando-a com seu enlace nos tratamentos dentro do esporte. Para tanto, como metodologia, foi desenvolvido o mapeamento da produção já existente sobre o tema, elaborando assim um Estado da Arte da pesquisa sobre o termo Reputação. Foi ainda possível perceber que os conceitos de reputação utilizados teoricamente de forma restrita ao ambiente corporativo já são uma realidade para as entidades esportivas

A NOVELA DIÁRIA DO JORNALISMO ESPORTIVO: A POLÊMICA FIFA-GOVERNO FEDERAL E O CHUTE NO “TRASEIRO” DA IMPRENSA BRASILEIRA

O discurso da imprensa está cada vez mais relacionado e condicionado ao consumo do esporte. O estudo da notícia é uma das maneiras de analisar as motivações econômico-ideológicas em atuação na mídia. O objetivo deste artigo é analisar a repercussão, nos dois principais veículos impressos de comunicação da cidade de São Paulo, da declaração feita pelo Secretário-Geral da FIFA, Jérôme Valcke, em março/2012, que afirmou que o Brasil merecia “um chute no traseiro pelo atraso nas obras da Copa do Mundo de 2014”. É nossa intenção demonstrar, através do conceito de “valores-notícia” (news values), dentro da Teoria do Jornalismo, que aspectos como notoriedade, interesse público e imprevisibilidade foram abandonados pela imprensa brasileira. Todos esses elementos, fundamentais na definição de uma pauta, foram deixados de lado. Em seu lugar, a polêmica, o consumo e a indignação nacionalista nortearam as pautas construídas. O objetivo da construção desse discurso é único: reafirmar a cultura do consumo do esporte e aumentar sua importância econômica. &nbsp