Dieter Hess

University of Cologne - Department of Corporate Finance

Prof.

Corporate Finance Seminar

Albertus-Magnus-Platz

D-50923 Cologne

Germany

http://cf.uni-koeln.de/

University of Cologne - Centre for Financial Research (CFR)

Germany

SCHOLARLY PAPERS

15

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CITATIONS
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42

Scholarly Papers (15)

Extended Dividend, Cash Flow and Residual Income Valuation Models - Accounting for Deviations from Ideal Conditions

Number of pages: 56 Posted: 19 Jun 2008 Last Revised: 04 Jun 2011
University of Cologne - Graduate School of Risk Management, University of Cologne - Department of Corporate Finance, University of Cologne, University of Cologne and University of Paderborn - Faculty of Business Administration, Economics and Business Computing
Downloads 2,029 (5,359)
Citation 10

Abstract:

Dividend Discount Model, Residual Income, Discounted Cash Flow, Dirty Surplus, Terminal Value, Valuation Error

Extended Dividend, Cash Flow and Residual Income Valuation Models - Accounting for Deviations from Ideal Conditions

Contemporary Accounting Research, Forthcoming
Posted: 06 Dec 2012
University of Cologne - Graduate School of Risk Management, University of Cologne - Department of Corporate Finance, University of Cologne, University of Cologne and University of Paderborn - Faculty of Business Administration, Economics and Business Computing

Abstract:

Dividend Discount Model, Residual Income, Discounted Cash Flow, Dirty Surplus, Terminal Value, Valuation Error

2.

Accounting For Stock-Based Compensation: An Extended Clean Surplus Relation

ZEW Discussion Paper No. 01-42, Centre for European Economic Research
Number of pages: 25 Posted: 31 Mar 2003
Dieter Hess and Erik Lüders
University of Cologne - Department of Corporate Finance and Centre for European Economic Research (ZEW)
Downloads 839 (22,547)
Citation 2

Abstract:

residual income valuation, clean surplus accounting, US-GAAP, employee stock option programs

3.

The Good, The Bad, and The Lucky: Projected Earnings Accuracy and Profitability of Stock Recommendations

AFA 2012 Chicago Meetings Paper
Number of pages: 51 Posted: 18 Mar 2011 Last Revised: 13 Aug 2012
Dieter Hess, Daniel Kreutzmann and Oliver Pucker
University of Cologne - Department of Corporate Finance, University of Cologne and University of Cologne
Downloads 814 (20,242)

Abstract:

analysts, portfolio management, profitability of recommendations

4.

How Much Is Too Much? Debt Capacity and Financial Flexibility

Number of pages: 56 Posted: 23 Jan 2012 Last Revised: 17 Mar 2014
Dieter Hess and Philipp Immenkötter
University of Cologne - Department of Corporate Finance and University of Cologne - Department of Corporate Finance
Downloads 748 (20,336)

Abstract:

capital structure, debt capacity, credit ratings, capital budgeting

Bayesian Learning in Financial Markets - Testing for the Relevance of Information Precision in Price Discovery

Centre for Financial Research (CFR), Working Paper 04-10
Number of pages: 37 Posted: 14 Jun 2005 Last Revised: 16 Sep 2010
Dieter Hess and Nikolaus Hautsch
University of Cologne - Department of Corporate Finance and University of Vienna - Department of Statistics and Operations Research
Downloads 695 (29,013)
Citation 14

Abstract:

Bayesian learning, information precision, macroeconomic announcements, asymmetric price response, financial markets, high-frequency data

Bayesian Learning in Financial Markets - Testing for the Relevance of Information Precision in Price Discovery

Journal of Financial and Quantitative Analysis (JFQA), Vol. 42, No. 1, 2007
Posted: 01 Nov 2008
Nikolaus Hautsch and Dieter Hess
University of Vienna - Department of Statistics and Operations Research and University of Cologne - Department of Corporate Finance

Abstract:

information quality, macroeconomic announcements, event studies, asymmetric price response, high-frequency data

6.

Common Factors in Analysts’ Earnings Revisions: The Role of Changing Economic Conditions

Number of pages: 44 Posted: 18 Mar 2012
Vikas Agarwal and Dieter Hess
Georgia State University and University of Cologne - Department of Corporate Finance
Downloads 687 (29,965)
Citation 1

Abstract:

earnings forecasts, equity analysts, forecast accuracy, macroeconomic news, business conditions

7.
Downloads 544 ( 40,867)
Citation 5

Price Adjustment to News with Uncertain Precision

EFA 2009 Bergen Meetings Paper
Number of pages: 49 Posted: 04 Mar 2007 Last Revised: 29 Mar 2012
University of Cologne - Department of Corporate Finance, University of Vienna - Department of Statistics and Operations Research and University of Cologne
Downloads 544 (40,318)
Citation 5

Abstract:

Bayesian learning, information quality, precision signals, macroeconomic announcements

Price Adjustment to News with Uncertain Precision

Journal of International Money and Finance, Vol. 31, No. 2, 2012
Posted: 09 Feb 2012 Last Revised: 15 Feb 2012
University of Vienna - Department of Statistics and Operations Research, University of Cologne - Department of Corporate Finance and University of Cologne

Abstract:

Bayesian learning, Macroeconomic announcements, Information quality, Precision signals

Determinants of the Relative Price Impact of Non-anticipated Information in U.S. Macroeconomic Releases

Number of pages: 36 Posted: 01 Mar 2002
Dieter Hess
University of Cologne - Department of Corporate Finance
Downloads 404 (58,696)
Citation 1

Abstract:

Information Processing, Scheduled Macroeconomic Releases, T-bond Futures

Determinants of the Relative Price Impact of Non-Anticipated Information in U.S. Macroeconomic Releases

Journal of Futures Markets, Vol. 24, No. 7, 2004
Posted: 20 Nov 2011
Dieter Hess
University of Cologne - Department of Corporate Finance

Abstract:

Information Processing, Scheduled Macroeconomic Releases, T-bond Futures

The Impact of Macroeconomic News on Quote Adjustments, Noise, and Informational Volatility

Number of pages: 44 Posted: 16 Feb 2009 Last Revised: 31 Mar 2012
Nikolaus Hautsch, Dieter Hess and David Veredas
University of Vienna - Department of Statistics and Operations Research, University of Cologne - Department of Corporate Finance and Vlerick Business School
Downloads 357 (68,007)
Citation 2

Abstract:

Efficient return, macroeconomic announcements, microstructure noise, informational volatility

The Impact of Macroeconomic News on Quote Adjustments, Noise, and Informational Volatility

Journal of Banking and Finance, Vol. 35, No. 10, 2011
Posted: 20 Nov 2011 Last Revised: 31 Mar 2012
Nikolaus Hautsch, Dieter Hess and David Veredas
University of Vienna - Department of Statistics and Operations Research, University of Cologne - Department of Corporate Finance and Vlerick Business School

Abstract:

Efficient return, Macroeconomic announcements, Microstructure noise, Informational volatility

Irrationality or Efficiency of Macroeconomic Survey Forecasts? Implications from the Anchoring Bias Test

Number of pages: 50 Posted: 03 Sep 2010 Last Revised: 26 May 2012
Dieter Hess and Sebastian Orbe
University of Cologne - Department of Corporate Finance and University of Cologne - Department of Corporate Finance
Downloads 349 (69,840)
Citation 3

Abstract:

macroeconomic announcements, efficiency of forecasts, anchoring bias, rationality of analysts

Irrationality or Efficiency of Macroeconomic Survey Forecasts? Implications from the Anchoring Bias Test

Review of Finance, (Forthcoming)
Posted: 20 Sep 2012
Dieter Hess and Sebastian Orbe
University of Cologne - Department of Corporate Finance and University of Cologne - Department of Corporate Finance

Abstract:

macroeconomic announcements, efficiency of forecasts, anchoring bias, rationality of analysts

11.

The Early News Catches the Attention: On the Relative Price Impact of Similar Economic Indicators

Paris December 2007 Finance International Meeting AFFI-EUROFIDAI Paper
Number of pages: 38 Posted: 15 Sep 2007 Last Revised: 12 Jan 2010
Dieter Hess and Alexandra Niessen-Ruenzi
University of Cologne - Department of Corporate Finance and University of Mannheim - Department of Finance
Downloads 223 (108,301)

Abstract:

Bayesian Learning, Macroeconomic Announcements, Information Processing

12.

Predicting Sell-Side Analysts' Relative Earnings Forecast Accuracy When It Matters Most

Number of pages: 37 Posted: 17 May 2017
Niklas Blümke, Dieter Hess and Alexander Stolz
University of Cologne, University of Cologne - Department of Corporate Finance and University of Cologne
Downloads 0 (269,122)

Abstract:

Equity Analysts, Earnings Forecasts, Accuracy Prediction

13.

How Do Commodity Futures Respond to Macroeconomic News?

Financial Markets and Portfolio Management, Vol. 22, No. 2, pp. 127-146, 2008
Posted: 16 Jun 2008
University of Cologne - Department of Corporate Finance, University of Cologne - Faculty of Management, Economics and Social Sciences and University of Mannheim - Department of Finance

Abstract:

Commodities, Macroeconomic announcements, Business cycle

14.

The Processing of Non-anticipated Information in Financial Markets: Analyzing the Impact of Surprises in the Employment Report

European Finance Review, Vol. 6, pp. 133-161, 2002
Posted: 14 Jun 2005
Dieter Hess and Nikolaus Hautsch
University of Cologne - Department of Corporate Finance and University of Vienna - Department of Statistics and Operations Research

Abstract:

Trading process, volatility, macroeconomic announcements, treasury bond futures, high-frequency data

15.

Anonymous Electronic Trading Versus Floor Trading

Journal of Empirical Finance, Vol. 7, No. 5, 2000
Posted: 05 Dec 1998 Last Revised: 18 Dec 2008
Dieter Hess and Guenter Franke
University of Cologne - Department of Corporate Finance and University of Konstanz - Department of Economics

Abstract: