Jason Karceski | University of Florida (original) (raw)

Papers by Jason Karceski

Research paper thumbnail of Captured Money? Differences in the Performance Characteristics of Retail and Institutional Mutual Funds

SSRN Electronic Journal, 2002

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Research paper thumbnail of Investor monitoring and differences in mutual fund performance

Journal of Banking & Finance, 2006

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Research paper thumbnail of What a Difference a Month Makes: Stock Analyst Valuations Following Initial Public Offerings

SSRN Electronic Journal, 2003

We examine how analysts establish target prices for IPO firms and whether comparable firms used t... more We examine how analysts establish target prices for IPO firms and whether comparable firms used to support target prices are helpful in explaining IPO offer prices. During the bubble period of 1999 to 2000, the average offer price was set at a discount relative to comparable firm ...

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Research paper thumbnail of Strength of analyst coverage following IPOs

Journal of Financial Economics, 2006

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Research paper thumbnail of What a Difference a Month Makes: Stock Analyst Valuations Following Initial Public Offerings

Journal of Financial and Quantitative Analysis, 2006

We examine how analysts establish target prices for IPO firms and whether comparable firms used t... more We examine how analysts establish target prices for IPO firms and whether comparable firms used to support target prices are helpful in explaining IPO offer prices. During the bubble period of 1999 to 2000, the average offer price was set at a discount relative to comparable firm ...

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Research paper thumbnail of The Impact of Bank Consolidation on Commercial Borrower Welfare

Journal of Finance, 2005

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Research paper thumbnail of The Impact of Bank Consolidation on Commercial Borrower Welfare

SSRN Electronic Journal, 2000

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Research paper thumbnail of The Risk and Return from Factors

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Research paper thumbnail of Analysts' Conflict of Interest and Biases in Earnings Forecasts

SSRN Electronic Journal, 2003

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Research paper thumbnail of On Portfolio Optimization: Forecasting Covariances and Choosing the Risk Model

Review of Financial Studies, 1999

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Research paper thumbnail of Analysts' Conflicts of Interest and Biases in Earnings Forecasts

Journal of Financial and Quantitative Analysis, 2007

Analysts' earnings forecasts are influenced by their desire to win investment ba... more Analysts' earnings forecasts are influenced by their desire to win investment banking clients. We hypothesize that the equity bull market of the 1990s, along with the boom in investment banking business, exacerbated analysts' conflicts of interest and their in- centives to strategically adjust forecasts to avoid earnings disappointments. We document shifts in the distribution of earnings surprises and related changes in the market's response to surprises and forecast revisions. The evidence for shifts is stronger for growth stocks, where conflicts of interest are more pronounced. However, shifts are less notable for ana- lysts without ties to investment banking and in international markets.

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Research paper thumbnail of Analysts' Conflicts of Interest and Biases in Earnings Forecasts

Analysts' earnings forecasts are influenced by their desire to win investment ba... more Analysts' earnings forecasts are influenced by their desire to win investment banking clients. We hypothesize that the equity bull market of the 1990s, along with the boom in investment banking business, exacerbated analysts' conflicts of interest and their in- centives to strategically adjust forecasts to avoid earnings disappointments. We document shifts in the distribution of earnings surprises and related changes in the market's response to surprises and forecast revisions. The evidence for shifts is stronger for growth stocks, where conflicts of interest are more pronounced. However, shifts are less notable for ana- lysts without ties to investment banking and in international markets.

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Research paper thumbnail of The Level and Persistence of Growth Rates

SSRN Electronic Journal, 2002

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Research paper thumbnail of The Level and Persistence of Growth Rates

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Research paper thumbnail of The Risk and Return from Factors

Journal of Financial and Quantitative Analysis, 1998

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Research paper thumbnail of New Paradigm or Same Old Hype in Equity Investing

Financial Analysts Journal, 2000

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Research paper thumbnail of The Level and Persistence of Growth Rates

Journal of Finance, 2003

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Research paper thumbnail of Long-run performance evaluation: Correlation and heteroskedasticity-consistent tests

Journal of Empirical Finance, 2009

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Research paper thumbnail of Long-run performance evaluation: Correlation and heteroskedasticity-consistent tests

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Research paper thumbnail of Captured Money? Differences in the Performance Characteristics of Retail and Institutional Mutual Funds

SSRN Electronic Journal, 2002

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Investor monitoring and differences in mutual fund performance

Journal of Banking & Finance, 2006

Bookmarks Related papers MentionsView impact

Research paper thumbnail of What a Difference a Month Makes: Stock Analyst Valuations Following Initial Public Offerings

SSRN Electronic Journal, 2003

We examine how analysts establish target prices for IPO firms and whether comparable firms used t... more We examine how analysts establish target prices for IPO firms and whether comparable firms used to support target prices are helpful in explaining IPO offer prices. During the bubble period of 1999 to 2000, the average offer price was set at a discount relative to comparable firm ...

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Strength of analyst coverage following IPOs

Journal of Financial Economics, 2006

Bookmarks Related papers MentionsView impact

Research paper thumbnail of What a Difference a Month Makes: Stock Analyst Valuations Following Initial Public Offerings

Journal of Financial and Quantitative Analysis, 2006

We examine how analysts establish target prices for IPO firms and whether comparable firms used t... more We examine how analysts establish target prices for IPO firms and whether comparable firms used to support target prices are helpful in explaining IPO offer prices. During the bubble period of 1999 to 2000, the average offer price was set at a discount relative to comparable firm ...

Bookmarks Related papers MentionsView impact

Research paper thumbnail of The Impact of Bank Consolidation on Commercial Borrower Welfare

Journal of Finance, 2005

Bookmarks Related papers MentionsView impact

Research paper thumbnail of The Impact of Bank Consolidation on Commercial Borrower Welfare

SSRN Electronic Journal, 2000

Bookmarks Related papers MentionsView impact

Research paper thumbnail of The Risk and Return from Factors

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Analysts' Conflict of Interest and Biases in Earnings Forecasts

SSRN Electronic Journal, 2003

Bookmarks Related papers MentionsView impact

Research paper thumbnail of On Portfolio Optimization: Forecasting Covariances and Choosing the Risk Model

Review of Financial Studies, 1999

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Analysts' Conflicts of Interest and Biases in Earnings Forecasts

Journal of Financial and Quantitative Analysis, 2007

Analysts' earnings forecasts are influenced by their desire to win investment ba... more Analysts' earnings forecasts are influenced by their desire to win investment banking clients. We hypothesize that the equity bull market of the 1990s, along with the boom in investment banking business, exacerbated analysts' conflicts of interest and their in- centives to strategically adjust forecasts to avoid earnings disappointments. We document shifts in the distribution of earnings surprises and related changes in the market's response to surprises and forecast revisions. The evidence for shifts is stronger for growth stocks, where conflicts of interest are more pronounced. However, shifts are less notable for ana- lysts without ties to investment banking and in international markets.

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Analysts' Conflicts of Interest and Biases in Earnings Forecasts

Analysts' earnings forecasts are influenced by their desire to win investment ba... more Analysts' earnings forecasts are influenced by their desire to win investment banking clients. We hypothesize that the equity bull market of the 1990s, along with the boom in investment banking business, exacerbated analysts' conflicts of interest and their in- centives to strategically adjust forecasts to avoid earnings disappointments. We document shifts in the distribution of earnings surprises and related changes in the market's response to surprises and forecast revisions. The evidence for shifts is stronger for growth stocks, where conflicts of interest are more pronounced. However, shifts are less notable for ana- lysts without ties to investment banking and in international markets.

Bookmarks Related papers MentionsView impact

Research paper thumbnail of The Level and Persistence of Growth Rates

SSRN Electronic Journal, 2002

Bookmarks Related papers MentionsView impact

Research paper thumbnail of The Level and Persistence of Growth Rates

Bookmarks Related papers MentionsView impact

Research paper thumbnail of The Risk and Return from Factors

Journal of Financial and Quantitative Analysis, 1998

Bookmarks Related papers MentionsView impact

Research paper thumbnail of New Paradigm or Same Old Hype in Equity Investing

Financial Analysts Journal, 2000

Bookmarks Related papers MentionsView impact

Research paper thumbnail of The Level and Persistence of Growth Rates

Journal of Finance, 2003

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Long-run performance evaluation: Correlation and heteroskedasticity-consistent tests

Journal of Empirical Finance, 2009

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Long-run performance evaluation: Correlation and heteroskedasticity-consistent tests

Bookmarks Related papers MentionsView impact