Behavioral Impact of Short-Term Stock Price Trends on Equity Research : A Textual Analysis of Trend-Chasing Bias in Norwegian Equity Research Reports Covering the Oslo Stock Exchange

This thesis employs XGBoost and linear regression to reveal whether short-term stock price trends can explain the variance in textual sentiment in Norwegian equity research reports covering the Oslo Stock Exchange, investigating whether trend-chasing bias is present in equity research. The thesis is based on 2,350 equity research reports from the past 5 years covering the 25 largest companies by market capitalization listed on the Oslo Stock Exchange, published by Carnegie, DNB Markets, and Pareto Securities. We present empirical evidence demonstrating an enhancement in the predictive efficacy of our model with the integration of short-term stock price trend indicators. Specifically, the incorporation of these indicators resulted in a 2.2% increase in the linear regression model’s explanatory power compared to our reference model. The full model can account for 44.7% of the variance in textual sentiment. Further, the XGBoost model improves predictive accuracy over the linear model and returns the lagged sentiment, investment bank, financial leverage, and RSI to be the most important variables explaining sentiment, chronologically ordered by variable importance. The 3-month simple return and MACD prove to be similar in variable importance with traditional valuation metrics such as the P/E ratio and firm size. Thus, we find that stock price trend indicators improve the models capacity to explain the sentiment of an equity research report. However, our findings cannot state that the given dependency is due to trend-chasing bias in Norwegian equity research. The textual sentiment is determined by numerous unobservable variables, making it likely that our model suffers from omitted variable bias, thus causing endogeneity issues. Further, we cannot determine if a change in textual sentiment is attributable to a measurable change in the perception of a company, or the fact that the reports summarize and relay market information.nhhma

Supportive Feedback Environments Can Mend Broken Performance Management Systems.

No abstract available

Detection of poliovirus by ICC/qPCR in concentrated water samples has greater sensitivity and is less costly using BGM cells in suspension as compared to monolayers

The integrated cell culture quantitative reverse transcriptase PCR (ICC/qRT-PCR) method is used in our lab to detect enteroviruses in environmental waters. Typically we utilize monolayers of 3 cell lines; buffalo green monkey kidney (BGM), human colonic carcinoma (CACO-2) and African rhesus monkey kidney (MA104) with the intent of providing one or more permissive hosts to a wide range of enteroviruses. In this study the BGM cell line was used to compare poliovirus infectivity in conventional monolayer cultures to BGM cells in suspensions. Propagated virus was subsequently amplified by qRT-PCR. Our PCR data showed lower cycle threshold (Ct) values in the suspensions which corresponded to a higher rate of infectivity than that observed in the monolayers. The difference in Ct values was determined statistically significant by One-way ANOVA (0.000). Infecting BGM cells in suspensions required less hands-on time, less chance of contamination and was more cost effective than utilizing the conventional monolayer technique

Can constructive deviance be empowered? A multi-level field study in Australian supermarkets

We test four hypotheses about how leaders facilitate constructive deviance in the teams they manage. Constructive deviance describes ways of creating value by departing from common ways of working. We test a multi-level model that suggests links between various leadership behaviors, psychological empowerment, and constructive deviance at the individual and team levels. Our findings add nuance to the prevalent assumption that empowered employees engage in more constructive deviance than unempowered employees do by suggesting that, rather than stimulating constructive deviance, empowerment makes deviance unnecessary. We detail implications for management

Round robin investigation of methods for the recovery of poliovirus from drinking water.

Six laboratories actively involved in water virology research participated in a methods evaluation study, conducted under the auspices of the American Society for Testing and Materials Committee on Viruses in the Aquatic Environment, Task Force on Drinking Water. Each participant was asked to examine the Viradel (virus adsorption-elution) method with cartridge-type Filterite filters for virus adsorption and organic flocculation and aluminum hydroxide-hydroextraction for reconcentration. Virus was adsorbed to filter media at pH 3.5 and eluted with either glycine buffer (pH 10.5) or beef extract-glycine (pHG 9.0). Considerable variation was noted in the quantity of virus recovered from four 100-liter samples of dechlorinated tapwater seeded with low (350 to 860 PFU) and high (1,837 to 4,689 PFU) doses of poliovirus type 1. To have a more uniform standard of comparison, all the test samples were reassayed in one laboratory, where titers were also determined for the virus seed. Test results of the Viradel-organic flocculation method indicated that the average percentage of virus recovery for low-input experiments was 66%, with a range of 8 to 20% in two laboratories, 49 to 63% in three laboratories, and 198% in one laboratory. For the high-input experiments, two laboratories reported recoveries of 6 to 12%, and four laboratories reported recoveries of 26 to 46%. For the Viradel aluminum hydroxide-hydroextraction procedure, two laboratories recovered 9 to 11%, whereas four obtained 17 to 34% for low-input experiments. For the high-input tests, two laboratories reported a recovery of 3 to 5%, and four recovered 11 to 18% of the seeded virus.(ABSTRACT TRUNCATED AT 250 WORDS

Transformation and tumorigenicity testing of simian cell lines and evaluation of poliovirus replication

The key role of cell cultures in different scientific fields is worldwide recognized, both as in vitro research models alternative to laboratory animals and substrates for biological production. However, many safety concerns rise from the use of animal/human cell lines that may be tumorigenic, leading to potential adverse contaminations in cell-derived biologicals. In order to evaluate the suitability of 13 different cell lines for Poliovirus vaccine production, safety and quality, in vitro/in vivo tumorigenicity and Poliovirus propagation properties were evaluated. Our results revealed that non-human primate cell lines CYNOM-K1, FRhK-4, 4MBr-5 and 4647 are free of tumorigenic features and represent highly susceptible substrates for attenuated Sabin Poliovirus strains. In particular, FRhK-4 and 4647 cell lines are characterized by a higher in vitro replication, resulting indicated for the use in large-scale production field

Rotavirus and reovirus stability in microorganism-free distilled and wastewaters

Survival of calf rotavirus and reovirus under controlled laboratory conditions in microorganism-free, distilled and wastewater at 8 and 26[deg]C was examined by periodic measurement of cytopathic effects (CPE) and indirect fluorescent antibody (IFA) assays. Five samples of both water-types were collected and inoculated with the two viruses. Three samples of each type of water were divided into two bottles, one per virus, for incubation at 8[deg]C. Two samples were used at 26[deg]C, one per trial. In the absence of light and shaking at 26[deg]C, 7-13 days were required for a loss of 90% infectivity for rotavirus and reovirus, while at 8[deg]C, averages were 80 days for rotavirus and 260 days for reovirus. Virus infectivity remained for more than 30 days at 26[deg]C and 400 days at 8[deg]C. Rates of decline were 10-100 times greater at 26 than at 8[deg]C, but at both temperatures, the MPN log10 rate of decline of infectivity was linear.Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/25451/1/0000901.pd

Machiavellian Ways to Academic Cheating:A Mediational and Interactional Model

Academic cheating has become a pervasive practice from primary schools to university. This study aims at investigating this phenomenon through a nomological network which integrates different theoretical frameworks and models, such as trait and social-cognitive theories and models regarding the approaches to learning and contextual/normative environment. Results on a sample of more than 200 Italian university students show that the Amoral Manipulation facet of Machiavellianism, Academic Moral Disengagement, Deep Approach to Learning, and Normative Academic Cheating are significantly associated with Individual Academic Cheating. Moreover, results show a significant latent interaction effect between Normative Academic Cheating and Amoral Manipulation Machiavellianism: “amoral Machiavellians” students are more prone to resort to Academic Cheating in contexts where Academic Cheating is adopted as a practice by their peers, while this effect is not significant in contexts where Academic Cheating is not normative. Results also show that Academic Moral Disengagement and Deep Approach to learning partially mediate the relationship between Amoral Manipulation and Academic Cheating. Practical implications of these results are discussed