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Material sustainability information and stock price informativeness
Grewal, Jody; Hauptmann, Clarissa; Serafeim, George - 2017
As part of the SEC's revision of Regulation S-K, many investors proposed the mandatory disclosure of sustainability …
Persistent link: https://www.econbiz.de/10011901546
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The Determinants and Informativeness of Banks’ Return on Tangible Common Equity Disclosures
Campbell, John L.; López-Vilaró, Joe; Shakespeare, … - 2022
. Overall, our results suggest that industry-specific regulation in the banking sector can impact banks’ voluntary disclosures …
Persistent link: https://www.econbiz.de/10014245017
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Securities lending and information acquisition
Greppmair, Stefan; Jank, Stephan; Saffi, Pedro A. C.; … - 2024
Using microdata on stock-level lending positions from German mutual funds, we show that active funds use the equity lending market to obtain information about short sale demand. Funds reduce long positions in response to these demand signals, which allows fund managers to front-run public...
Persistent link: https://www.econbiz.de/10014501098
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Market Reaction to Non-GAAP Earnings Around SEC Regulation
Bond, David - 2017
This study examines the impact of Regulation G in 2003 and the issuance of Compliance and Disclosure Interpretations (C …&DIs) in 2010 – on the reporting of non-GAAP earnings. The study finds that (i) both Regulation G and C&DIs are associated with … predictive power for future operating earnings); (ii) Regulation G led to a decrease in the amount of total positive exclusions …
Persistent link: https://www.econbiz.de/10012954820
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Why do large investors disclose their information?
Liu, Ying - 2017
Large investors often advertise private information at private talks or in the media. To analyse the incentives for information disclosure, I develop a two-period Kyle (1985) type model in which an informed short-horizon investor strategically discloses private information to enhance price...
Persistent link: https://www.econbiz.de/10011877380
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Liquidity and corporate governance
Berglund, Tom - In: Journal of risk and financial management : JRFM 13 (2020) 3/54, pp. 1-9
This paper discusses the relationship between stock market liquidity and corporate governance. Both concepts are widely investigated from different angles in the literature. It is generally agreed that they are related so that better corporate governance implies higher liquidity for shares of...
Persistent link: https://www.econbiz.de/10012174012
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Uncovering hedge fund skill from the portfolio holdings they hide
Agarwal, Vikas; Jiang, Wei; Tang, Yuehua; Yang, Baozhong - 2010
This paper studies the “confidential holdings” of institutional investors, especially hedge funds, where the quarter-end equity holdings are disclosed with a significant delay through amendments to the Form 13F. Our evidence supports hiding private information as the dominant motive for...
Persistent link: https://www.econbiz.de/10008666523
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Does tax return disclosure affect information asymmetry among investors?
Wu, Yuchen - 2021 - This draft: September 2021
Tax return information is often complex and difficult to interpret. Whether its public availability benefits unsophisticated users remains an empirical question. This study examines whether public disclosure of tax return information affects information asymmetry among more- and less-...
Persistent link: https://www.econbiz.de/10012622845
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Annual report readability and stock return synchronicity : evidence from India
Gangadharan, Vismaya; Padmakumari, Lakshmi - In: Cogent economics & finance 11 (2023) 1, pp. 1-22
This study investigates the relationship between the comprehensibility of a firm's annual report and its stock return synchronicity in the Indian market. The study employs the readability of annual reports as a measure for the cost of information processing. The findings suggest that firms with...
Persistent link: https://www.econbiz.de/10014500700
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Does Transparency Harm Traders : Evidence from a Disclosure Regulation
Mukherjee, Saptarshi - 2013
Does transparency harm block traders? In 2004, Securities and Exchange Board of India (SEBI) mandated the disclosure of trades accumulating to more than 0.5% of existing float in a single day. Using unique transaction-level database from the National Stock Exchange (NSE) in India, we present...
Persistent link: https://www.econbiz.de/10013089607