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An Analysis Of Japanese Earnings Forecast Revisions With Application To Seasoned Equity Offerings, Gary L. Caton, Justin S. P. Chan, Jeremy C. Goh, Sheng Yung Yang
An Analysis Of Japanese Earnings Forecast Revisions With Application To Seasoned Equity Offerings, Gary L. Caton, Justin S. P. Chan, Jeremy C. Goh, Sheng Yung Yang
Research Collection Lee Kong Chian School Of Business
Using the bootstrap method, we explore the characteristics of revisions in Japanese earnings forecast data. We find that forecast revisions exhibit a downward trend over time as the actual earnings announcement date approaches, and are serially correlated with three significant lags. Using these characteristics we develop a model to estimate abnormal forecast revisions, and illustrate the model's use with a sample of Japanese companies announcing seasoned equity offerings (SEOs). In contrast to results obtained by studies using American data, our findings indicate significant positive upward revisions when Japanese firms announce an SEO.
Making And Unmaking Of Transnational Environmental Cooperation, Yooil Bae, Dong-Ae Shin, Yong-Wook Lee
Making And Unmaking Of Transnational Environmental Cooperation, Yooil Bae, Dong-Ae Shin, Yong-Wook Lee
Research Collection School of Social Sciences
There has been an ongoing debate about how (or through what mechanisms) global environmental norms have influenced domestic political debates that give rise to green policy choices. In particular, effective international environmental cooperation between transnational and domestic NGOs has been recognized as a key to successful environmental movements. In this regard, the central question guiding research on the politics of environmental norms is, under what condition(s) transnational cooperation among NGOs would be more likely to be sustained so as to achieve its goals. This article proposes that one of the mechanisms missing from the debate is a bottom-up approach through …