Stephen R. Foerster

University of Western Ontario - Richard Ivey School of Business

Professor of Finance

1255 Western Road

London, Ontario N6G 0N1

Canada

  • University of Western Ontario - Richard Ivey School of Business

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    • Tel: 519-661-3726
    • Fax: 519-661-3485
SCHOLARLY PAPERS

27

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Scholarly Papers (27)

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1.

Are Cash Flows Better Stock Return Predictors than Profits?

Financial Analysts Journal, Forthcoming
Number of pages: 46 Posted: 28 Jul 2014 Last Revised: 25 May 2017
Stephen R. Foerster, John Tsagarelis and Grant Wang
University of Western Ontario - Richard Ivey School of Business, Primes Corporation and Highstreet Asset Management
Downloads 2,897 (3,774)

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direct cash flow method, cash flows, profitability, stock return predictability, free cash flow yields, cash flow return on invested capital

2.

The Long-Run Performance of Global Equity Offerings

Downloads 1,861 ( 7,965)

The Long-Run Performance of Global Equity Offerings

Number of pages: 53 Posted: 11 Feb 1998
George Andrew Karolyi and Stephen R. Foerster
Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Western Ontario - Richard Ivey School of Business
Downloads 1,473 (11,409)

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The Long-Run Performance of Global Equity Offerings

Dice Working Paper No. 99-4
Number of pages: 45 Posted: 05 Oct 1999
Stephen R. Foerster and George Andrew Karolyi
University of Western Ontario - Richard Ivey School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 388 (73,299)

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The Long-Run Performance of Global Equity Offerings

Journal of Financial and Quantitative Analysis, Vol. 35, No. 4, December 2000
Posted: 12 Jan 2001
Stephen R. Foerster and George Andrew Karolyi
University of Western Ontario - Richard Ivey School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management

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3.

Valuing Wal-Mart Stock

Richard Ivey School of Business Case No.: 9B06N009
Number of pages: 16 Posted: 13 Jun 2006
Stephen R. Foerster
University of Western Ontario - Richard Ivey School of Business
Downloads 1,209 (15,914)

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4.

Writing a Great Case 101

Number of pages: 6 Posted: 30 Jan 2004
Robert F. Bruner and Stephen R. Foerster
University of Virginia - Darden School of Business and University of Western Ontario - Richard Ivey School of Business
Downloads 1,020 (20,546)

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5.

The Effects of Market Segmentation and Illiquidity on Asset Prices: Evidence from Foreign Stocks Listing in the Us

Dice Center for Research in Financial Economics WPS 96-6
Number of pages: 53 Posted: 27 Nov 1996
Stephen R. Foerster and George Andrew Karolyi
University of Western Ontario - Richard Ivey School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 916 (24,060)

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6.

The Effects of Market Segmentation and Investor Recognition on Asset Prices: Evidence from Foreign Stocks Listing in the U.S.

Downloads 773 ( 30,569)

The Effects of Market Segmentation and Investor Recognition on Asset Prices: Evidence from Foreign Stocks Listing in the U.S.

Dice Center for Research in Financial Economics Working Paper No. 98-11
Number of pages: 53 Posted: 27 Oct 1998
Stephen R. Foerster and George Andrew Karolyi
University of Western Ontario - Richard Ivey School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 773 (30,085)

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The Effects of Market Segmentation and Investor Recognition on Asset Prices: Evidence from Foreign Stocks Listing in the U.S.

Journal of Finance
Posted: 11 Nov 1998
Stephen R. Foerster and George Andrew Karolyi
University of Western Ontario - Richard Ivey School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management

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7.

The Effect of Voluntary Disclosure on Firm Risk and Firm Value: Evidence from Management Earnings Forecasts

CAAA Annual Conference 2013
Number of pages: 41 Posted: 12 Jan 2013
Stephen R. Foerster, Stephen G. Sapp and Yaqi Shi
University of Western Ontario - Richard Ivey School of Business, University of Western Ontario - Richard Ivey School of Business and University of Western Ontario - Richard Ivey School of Business
Downloads 742 (32,325)

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management earnings forecasts, voluntary disclosure, firm risk, firm value, information quality

8.

Trading Volume Liquidity and Investment Styles

Number of pages: 28 Posted: 24 Dec 2007
Jeff Brown, Douglas K. Crocker and Stephen R. Foerster
affiliation not provided to SSRN, Highstreet Asset Management and University of Western Ontario - Richard Ivey School of Business
Downloads 703 (34,761)

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Trading Volume, Liquidity, Investment Styles, Factors, Asset Pricing

9.

Retail Financial Advice: Does One Size Fit All?

Journal of Finance, Forthcoming, Fama-Miller Working Paper, Chicago Booth Research Paper No. 14-38
Number of pages: 55 Posted: 12 Nov 2014 Last Revised: 12 Dec 2015
Stephen R. Foerster, Juhani T. Linnainmaa, Brian Melzer and Alessandro Previtero
University of Western Ontario - Richard Ivey School of Business, USC Marshall School of Business, Federal Reserve Bank of Chicago and Indiana University - Kelley School of Business - Department of Finance
Downloads 634 (39,941)

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10.

Roundtable Discussion: Grading Class Participation

Number of pages: 7 Posted: 25 May 2000
Andrew Boynton, Stephen R. Foerster, Stuart C. Gilson, Linda Schmid Klein, Michael H. Moffett and Laurence Pettit
International Institute for Management Development, University of Western Ontario - Richard Ivey School of Business, Harvard Business School - Finance Unit, University of Connecticut - Department of Finance, Thunderbird, School of Global Management and University of Virginia - McIntire School of Commerce
Downloads 537 (49,619)

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11.

Dividends and Stock Valuation: A Study from the Nineteenth to the Twenty-First Century

Number of pages: 50 Posted: 14 Mar 2006
Stephen R. Foerster and Stephen G. Sapp
University of Western Ontario - Richard Ivey School of Business and University of Western Ontario - Richard Ivey School of Business
Downloads 535 (49,864)

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Asset pricing, valuation, dividend discount model, multi-factor models

12.

Multimarket Trading and Liquidity: A Transaction Data Analysis of Canada U.S. Interlistings

Downloads 471 ( 58,599)

Multimarket Trading and Liquidity: A Transaction Data Analysis of Canada U.S. Interlistings

Dice Center Research in Financial Economics Working Paper 98-12
Number of pages: 29 Posted: 22 Oct 1998
Stephen R. Foerster and George Andrew Karolyi
University of Western Ontario - Richard Ivey School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 471 (57,966)

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Multimarket Trading and Liquidity: A Transaction Data Analysis of Canada-U.S. Interlistings

Journal of International Financial Markets, Institutions and Money
Posted: 14 Dec 1998
Stephen R. Foerster and George Andrew Karolyi
University of Western Ontario - Richard Ivey School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management

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13.

The Impact of Management Earnings Forecasts on Firm Risk and Firm Value

AAA 2010 Financial Accounting and Reporting Section (FARS) Paper
Number of pages: 48 Posted: 31 Aug 2009
Stephen R. Foerster, Stephen G. Sapp and Yaqi Shi
University of Western Ontario - Richard Ivey School of Business, University of Western Ontario - Richard Ivey School of Business and University of Western Ontario - Richard Ivey School of Business
Downloads 420 (67,297)

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management earnings forecasts, firm risk, firm value, information quality

14.

Second Time Lucky? Withdrawn Ipos that Return to the Market

Number of pages: 53 Posted: 19 Oct 2004
Craig G. Dunbar and Stephen R. Foerster
Ivey Business School, Western University and University of Western Ontario - Richard Ivey School of Business
Downloads 396 (72,245)

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IPOs, withdrawals, return performance, investment bank reputation, switching

15.

The Finance Classroom: September 11 and Beyond (Roundtable Discussion)

Number of pages: 6 Posted: 11 Oct 2001
Kent L. Womack, Robert F. Bruner, Stephen R. Foerster and Robert C. Higgins
University of Toronto - Rotman School of Management (Deceased), University of Virginia - Darden School of Business, University of Western Ontario - Richard Ivey School of Business and University of Washington - Department of Finance and Business Economics
Downloads 315 (93,860)

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16.

Retail Financial Advice: Does One Size Fit All?

NBER Working Paper No. w20712
Number of pages: 52 Posted: 01 Dec 2014
Stephen R. Foerster, Juhani T. Linnainmaa, Brian Melzer and Alessandro Previtero
University of Western Ontario - Richard Ivey School of Business, USC Marshall School of Business, Federal Reserve Bank of Chicago and Indiana University - Kelley School of Business - Department of Finance
Downloads 56 (362,266)

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17.

Northern Exposure: How Canadian Micro-Cap Stock Investments Can Benefit Investors

Journal of Investment Consulting, Vol. 15, No. 1, pp. 36-50, 2014
Number of pages: 17 Posted: 29 Aug 2014
Stephen R. Foerster, Lionel Fogler and Stephen G. Sapp
University of Western Ontario - Richard Ivey School of Business, Kingwest & Company and University of Western Ontario - Richard Ivey School of Business
Downloads 54 (368,564)

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Canadian micro-cap stocks

18.

The Dividend Discount Model in the Long-Run: A Clinical Study

Journal of Applied Finance, Vol. 15, No. 2, Fall/Winter 2005
Number of pages: 21 Posted: 15 Dec 2005
Stephen R. Foerster and Stephen G. Sapp
University of Western Ontario - Richard Ivey School of Business and University of Western Ontario - Richard Ivey School of Business
Downloads 40 (416,748)
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Dividend Discount Model, Valuation

19.

The Changing Role of Dividends: A Firm-Level Study from the Nineteenth to the Twenty-First Century

Canadian Journal of Economics, Vol. 39, No. 4, pp. 1316-1344, November 2006
Number of pages: 29 Posted: 30 Oct 2006
Stephen R. Foerster and Stephen G. Sapp
University of Western Ontario - Richard Ivey School of Business and University of Western Ontario - Richard Ivey School of Business
Downloads 18 (523,548)
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20.

Spotify's Direct-Listing IPO

Ivey Publishing, Ivey Business School Foundation
Posted: 18 May 2018
Craig G. Dunbar, Stephen R. Foerster and Ken Mark
Ivey Business School, Western University, University of Western Ontario - Richard Ivey School of Business and Independent

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direct-listing, IPO, valuation, comparables, Sweden, finance, entrepreneurship

21.

Analyst Talent, Information, and Investment Strategies

Posted: 14 Feb 2017 Last Revised: 13 Feb 2019
Chongyu Dang, Stephen R. Foerster, Zhichuan Frank Li and Zhenyang Tang
Jasper Capital International, University of Western Ontario - Richard Ivey School of Business, University of Western Ontario - Ivey School of Business and Clark University - Graduate School of Management

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Analyst innate ability, Information asymmetry, Insider trading, Sell-side financial analyst, Earnings announcements

22.

Trading Volume and Stock Investments

Financial Analysts Journal, Vol. 65, No. 2, 2009
Posted: 10 Apr 2009
Jeffrey Brown, Douglas K. Crocker and Stephen R. Foerster
Highstreet Asset Management, Highstreet Asset Management and University of Western Ontario - Richard Ivey School of Business

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Equity Investments, Other, Financial Markets, Market Microstructure, Performance Measurement and Evaluation, Performance Attribution, Portfolio Management, Equity Strategies

23.

Direct Evidence of Non-Trading of NYSE and Amex Stocks

Rodney L White Center for Financial Research Working Paper Number 19-93
Posted: 26 Aug 1999
Stephen R. Foerster and Donald B. Keim
University of Western Ontario - Richard Ivey School of Business and University of Pennsylvania - Wharton School

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24.

Ontario Teachers' Pension Plan Board: Value at Risk

Posted: 21 Sep 1998
Stephen R. Foerster and George Andrew Karolyi
University of Western Ontario - Richard Ivey School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management

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25.

Ontario Teachers' Pension Plan Board: Hedging Foreign Currency Exposure

Posted: 21 Sep 1998
Stephen R. Foerster and George Andrew Karolyi
University of Western Ontario - Richard Ivey School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management

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26.

Ontario Teachers' Pension Plan Board: The Asset Allocation Decision

Posted: 18 Sep 1998
Stephen R. Foerster and George Andrew Karolyi
University of Western Ontario - Richard Ivey School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management

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27.

"Ontario Teachers' Pension Plan Board" Trilogy (Ivey Management Services, Inc.)

Posted: 18 Sep 1998
Stephen R. Foerster and George Andrew Karolyi
University of Western Ontario - Richard Ivey School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management

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Other Papers (1)

Total Downloads: 83    Citations: 0
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1.

Double then Nothing: Why Individual Stock Investments Disappoint

Number of pages: 48 Posted: 22 Mar 2008 Last Revised: 11 Dec 2011
Stephen R. Foerster
University of Western Ontario - Richard Ivey School of Business
Downloads 83

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behavioral finance, overreaction, predictability, valuation, stock investments, survivorship bias