Papers by Mitchell Conover
Real Estate Economics, 2000
... Section of Returns for EREITs Using a Varying-Risk Beta Model Mitchell C. Conover,* H. Swint ... more ... Section of Returns for EREITs Using a Varying-Risk Beta Model Mitchell C. Conover,* H. Swint Friday** and Shelly W. Howton ... Evidence provided by Gyourko and Keim (1992) indicates that REIT returns lead non-* University of North Carolina at Wilmington, Wilmington, NC ...
The Journal of Business, 2006
Using data for twenty-one industries over a thirty-three year period, we examine industry affilia... more Using data for twenty-one industries over a thirty-three year period, we examine industry affiliation and the relationship between stock returns and book-to-market-equity (the value effect). Our findings indicate that the value effect is a widespread phenomenon, as a significant value premium is shown to exist in fifteen of twenty-one industries. We identify a value effect at both the industry and firm level; however, the firm level effect is shown to be the stronger of the two. We also show that the industry and firm level effect are complementary, thus, the value effect is strongest in value industries and weakest in growth industries. Finally, we find results consistent with the contention that the value premium is a result of investors requiring higher returns from firms in relatively distressed conditions. Specifically, value firms are shown to have higher returns but also substantially higher earnings uncertainty, higher leverage, and higher risk of financial distress.
Pharmacoepidemiology and Drug Safety, 2015
Compare incidence of opioid-managed pelvic pain within 12 months after hysteroscopic and laparosc... more Compare incidence of opioid-managed pelvic pain within 12 months after hysteroscopic and laparoscopic sterilization. Using administrative claims, we identified women aged 18-49 years without recent history of childbirth who underwent hysteroscopic or laparoscopic sterilization between 2005 and 2012. We defined the outcome as ≥2 diagnoses for pelvic pain and ≥2 prescription fills for opioids. We calculated adjusted hazard ratios (HR) using Cox models and propensity score methods (matching and inverse-probability-of-treatment-weighting [IPTW]). We identified 71 875 eligible women (hysteroscopic n = 26 927 [37.5%], laparoscopic n = 44 948 [62.5%]). Of those, 236 (0.88%) hysteroscopic patients and 420 (0.93%) laparoscopic patients experienced the outcome (crude HR = 0.97, 95%CI: [0.83, 1.14]). Adjusted analyses also yielded near-null results (matched HR = 1.08, 95%CI [0.90, 1.31]; IPTW HR = 0.97, 95%CI [0.80, 1.18]). While most sensitivity analyses generated results close to the null, hazard ratios estimated using propensity score matching ranged from 0.65 to 1.53. Among women without recent history of childbirth, we did not find compelling evidence of a clinically meaningful increase in the incidence of pelvic pain requiring opioids during the year after hysteroscopic sterilization. However, effects observed in sensitivity analyses may merit further investigation. Copyright © 2015 John Wiley & Sons, Ltd.
SSRN Electronic Journal, 2000
ABSTRACT We perform a comprehensive evaluation of the benefits of emerging market equities by ext... more ABSTRACT We perform a comprehensive evaluation of the benefits of emerging market equities by extending previous research in four fundamental ways. The contribution of this study is that it 1) evaluates a more complete sample; 2) examines performance measures that account for asymmetric return distributions; 3) separates emerging markets by region; and 4) considers the influence that the market environment has on the benefits of emerging market investments. Our results suggest that previous research has understated the benefits associated with investing in emerging markets. We find that broad emerging market indices have relatively low downside risk, which results in Sortino ratios that are approximately twice that offered by developed markets. Furthermore, we find that Latin American countries are particularly beneficial in hedging against adverse conditions in U.S. financial markets. Overall, our findings indicate that emerging markets allow investors to achieve lower risk, higher returns, and expanded risk/return possibilities; especially during periods when developed world investors need diversification the most.
Executive Summary. Previous research has questioned the stability of international equity diversi... more Executive Summary. Previous research has questioned the stability of international equity diversification. This study examines whether foreign real estate exists in a more segmented market and whether foreign real estate provides any diversification benefit beyond that obtain- able from foreign stocks. Using data encompassing the stock market crash of 1987, foreign real estate was found to have a lower correlation
Obstetrics and gynecology, 2015
To estimate utilization rates for cystometrograms and describe trends in urodynamic procedures am... more To estimate utilization rates for cystometrograms and describe trends in urodynamic procedures among U.S. women from 2000 to 2012. We analyzed outpatient administrative health care claims for women aged 18 years or older from 2000 to 2012. The database contains deidentified and adjudicated claims from approximately 150 U.S. payers for employees, spouses, and retirees. We identified cystometrograms, which occur during bladder filling and represent a major component of complex urodynamics, and concurrent procedures; we also assessed age, year, region, health care provider specialty, and associated diagnosis codes. We estimated standardized cystometrogram utilization rates per 10,000 person-years and 95% confidence intervals (CIs) and used stratified Poisson models to estimate the independent (adjusted) effects of year and region. During 142,928,847 person-years of observation among 57,629,961 eligible women, we identified 561,823 cystometrograms for an overall utilization rate of 39.3...
The Journal of Investing, 2008
Active equity portfolio management requires periodic forecasts of eco-nomic conditions and portfo... more Active equity portfolio management requires periodic forecasts of eco-nomic conditions and portfolio rebalancing based on forecasted con-ditions. Asset allocation adjustments typically focus on one or more strategies in which the shifts in allocations are across asset classes, ...
The Journal of Investing, 2010
The Journal of Investing, 2009
Annals of Internal Medicine, 2014
Existing publicly reported readmission measures are condition-specific, representing less than 20... more Existing publicly reported readmission measures are condition-specific, representing less than 20% of adult hospitalizations. An all-condition measure may better measure quality and promote innovation. To develop an all-condition, hospital-wide readmission measure. Measure development study. 4821 U.S. hospitals. Medicare fee-for-service beneficiaries aged 65 years or older. Hospital-level, risk-standardized unplanned readmissions within 30 days of discharge. The measure uses Medicare fee-for-service claims and is a composite of 5 specialty-based, risk-standardized rates for medicine, surgery/gynecology, cardiorespiratory, cardiovascular, and neurology cohorts. The 2007-2008 admissions were randomly split for development and validation. Models were adjusted for age, principal diagnosis, and comorbid conditions. Calibration in Medicare and all-payer data was examined, and hospital rankings in the development and validation samples were compared. The development data set contained 8 018 949 admissions associated with 1 276 165 unplanned readmissions (15.9%). The median hospital risk-standardized unplanned readmission rate was 15.8 (range, 11.6 to 21.9). The 5 specialty cohort models accurately predicted readmission risk in both Medicare and all-payer data sets for average-risk patients but slightly overestimated readmission risk at the extremes. Overall hospital risk-standardized readmission rates did not differ statistically in the split samples (P = 0.71 for difference in rank), and 76% of hospitals' validation-set rankings were within 2 deciles of the development rank (24% were more than 2 deciles). Of hospitals ranking in the top or bottom deciles, 90% remained within 2 deciles (10% were more than 2 deciles) and 82% remained within 1 decile (18% were more than 1 decile). Risk adjustment was limited to that available in claims data. A claims-based, hospital-wide unplanned readmission measure for profiling hospitals produced reasonably consistent results in different data sets and was similarly calibrated in both Medicare and all-payer data. Centers for Medicare & Medicaid Services.
The Journal of Portfolio Management, 1999
Uploads
Papers by Mitchell Conover