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This paper examines the real effects of a recent phenomenon commonly referred to as “activist short-selling,” where short-sellers publicly talk down stocks to benefit their short positions. First, we show that after firms are targeted by activist short-sellers, their investing, financing,...
Persistent link: https://www.econbiz.de/10011646438
This paper studies how investors infer CEO commitment to honesty from earnings management and how these perceptions – in conjunction with investors’ own social and moral preferences – shape their investment choices. We conduct two laboratory experiments simulating investment choices. Our...
Persistent link: https://www.econbiz.de/10011626498
return volatility. Further, our results do not support the argument that a larger investor response to Street earnings might …
Persistent link: https://www.econbiz.de/10010228506
This study investigates the determinants of R&D value reporting bias in technology sector entities from six EU countries, including Germany and France, using data from 188 entities between 2006 and 2023. The research employs a mixed-method approach, including Pearson correlations, mixed model...
Persistent link: https://www.econbiz.de/10015449694
This article provides a comprehensive assessment of private firms' financing sources and their relation with financial reporting practices. We consider debt financing (bank financing, leasing, and government guarantees), equity financing (family ownership, government ownership, employee...
Persistent link: https://www.econbiz.de/10011646298
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volatility, generating a negative volatility skew in option prices. Using a large sample of U.S. equity options, we provide …
Persistent link: https://www.econbiz.de/10011626663
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To increase a company's earnings, a project must generate enough income next year to pay for its own financing. Hence, a manager who wants to maximize her EPS (earnings per share) should only invest in accretive projects that have income yields above the firm's cheapest financing option. This is...
Persistent link: https://www.econbiz.de/10015438286