Nice and not so nice.

Nice and not so nice.

It has been a month that I moved to Nice for my sabbatical leave. I had barely set foot on the tarmac at the airport that the honeymoon phase set in. How could it not? There is the obvious, especially for someone used to Montreal winters: balmy temperatures that keep thick coats stowed away, the …

Read more

Prince and pauper: Different politics?

Prince and pauper: Different politics?

Last week, Mr Romney announced his running mate, Mr Ryan, a representative from Wisconsin. Mr Ryan is known for his libertarian thinking, which has been profoundly influenced by the writings of Mrs. Ayn Rand.  Mrs. Rand, who grew up in Russia, embraced egotism (and hence rejected is rival twin, altruism). Not surprisingly, her economic views …

Read more

A Clockwork State

A Clockwork State

Mr Burgess, author of A Clockwork Orange, writes about the power of the state to shape individual behavior in a recent New Yorker article. He worries that politicians can promote wrong policies for wrong reasons, which feature most prominently their desire for power, and cautions that “We probably have no duty to like Beethoven or hate …

Read more

Do financial reports matter?

Do financial reports matter?

Yes, it does, and more so than we think! We usually view investors as the primary users of information disclosed in financial reports. The information buck does however not stop at investors. In my study “Corporate Investments: Learning from restatements” published in the Journal of Accounting Research, I find that a firm’s financial reports are useful …

Read more