Using both investor- and stock-level data, I examine the relation between stockholders' unrealized returns since purchase and the market response to earnings announcements. I demonstrate that stockholders' unrealized gain/loss position moderates their trading behavior in response to earnings announcements. I also find that this behavior generates a short-window return underreaction to earnings news. My results are generally consistent with predictions from prospect theory regarding the manner in which stockholders' unrealized returns moderate their trading response to belief shocks. However, my results also suggest that an emotional component (i.e., regret avoidance/pride seeking) is necessary to explain the observed investor behavior.

This issue brings together a collection of papers that provide economic insights into the modern energy market, which is still dominated by crude oil but has expanded to incorporate new energy sources in the form of coal, natural gas, and a mixture of renewable energy sources. Given the differences in the dynamics at play with different energy sources, particularly in relation to price determination, the impact they have on the environment, their importance in the energy mix and energy policy, and so forth, it has become imperative to check their behavior using economic models. Papers 1–3 provide some perspective on oil price determination by focusing on the time-varying nature of supply shocks linked to oil producers (Paper 1), OPEC’s announcements (2), and the heterogeneous interconnections of supply or demand shocks over time horizons and different countries (3). Papers 4–6 compare different energy sources within the energy market and other markets (4); explore the importance of energy storage in the electricity market (5); and examine the dynamic relationship between prices of substitutes (oil price) on the natural gas market in China (6). The final four studies examine the impact of renewable and nonrenewable energy on the macroeconomy and the environment.

The Financial Statistics of Major US Investor-Owned Electric Utilities publication presents summary and detailed financial accounting data on the investor-owned electric utilities. The objective of the publication is to provide Federal and State governments, industry, and the general public with current and historical data that can be used for making policy and decisions relating to investor-owned electric utility issues. The US electric power industry is a combination of electric utilities (investor-owned, publicly owned, Federal, and cooperatives) and nonutility power producers. Investor-owned electric utilities account for over three-fourths of electric sales and revenue. Historically, the investor-owned electric utilities have served the large consolidated markets. There is substantial diversity among the investor-owned electric utilities in terms of services, size, fuel usage, and prices charged. Most investor-owned electric utilities generate, transmit, and distribute electric power. Investor-owned electric utilities operate in all States except Nebraska; Hawaii is the only State in which all electricity is supplied by investor-owned electric utilities. 5 figs., 57 tabs.

Everything Today's CPA Candidates Need to Pass the CPA Exam Published annually, this comprehensive four-volume paperback reviews all four parts of the CPA exam. Many of the questions are taken directly from previous CPA exams. With 3,800 multiple choice questions and more than 90 simulations, these study guides provide all the information candidates need to master in order to pass the computerized Uniform CPA Examination. Complete sample exam in financial accounting and reporting The most effective system available to prepare for the CPA exam-proven for over thirty years Timely-up-to-the-minute coverage for the computerized exam. Contains all current AICPA content requirements in auditing and attestation Unique modular format-helps you zero in on areas that need work, organize your study program, and concentrate your efforts Comprehensive questions-over 3,800 multiple-choice questions and their solutions in the four volumes Covers the new simulation-style problems Includes over 90 simulations Guidelines, pointers, and tips-show you how to build knowledge in a logical and reinforcing way Wiley CPA Exam Review 2010 arms test-takers with detailed outlines, study guidelines, and skill-building problems to help candidates identify, focus on, and master the specific topics that need the most work.

A Tea Reader contains a selection of stories that cover the spectrum of life. This anthology shares the ways that tea has changed lives through personal, intimate stories. Read of deep family moments, conquered heartbreak, and peace found in the face of loss. A Tea Reader includes stories from all types of tea people: people brought up in the tea tradition, those newly discovering it, classic writings from long-ago tea lovers and those making tea a career. Together these tales create a new image of a tea drinker. They show that tea is not simply something you drink, but it also provides quiet moments for making important decisions, a catalyst for conversation, and the energy we sometimes need to operate in our lives. The stories found in A Tea Reader cover the spectrum of life, such as the development of new friendships, beginning new careers, taking dream journeys, and essentially sharing the deep moments of life with friends and families. Whether you are a tea lover or not, here you will discover stories that speak to you and inspire you. Sit down, grab a cup, and read on.

This highly regarded reference is relied on by a considerable part of the accounting profession in their day-to-day work. This handbook is the first place many accountants look to find answers to practice questions. Its comprehensive scope is widely recognized and relied on. It is designed as a single reference source that provides answers to all reasonable questions on accounting and financial reporting asked by accountants, auditors, bankers, lawyers, financial analysts, and other preparers and users of accounting information.

In a single affordable volume, U.S. Master GAAP Guide offers solutions to many complex accounting and disclosure problems by providing accountants with superior technical analysis, new insights, and practical explanations of accounting principles.

This highly regarded reference is relied on by a considerable part of the accounting profession in their day-to-day work. This comprehensive resource is widely recognized and relied on as a single reference source that provides answers to all reasonable questions on accounting and financial reporting asked by accountants, auditors, bankers, lawyers, financial analysts, and other preparers and users of accounting information. The new edition reflects the new FASB Codification, and includes expanded coverage of fair value and guidance on developing fair value estimates, fraud risk and exposure, healthcare, and IFRS.