Having been introduced in the European Union and in many other countries, the equal opportunity rule is seen as protecting investors in the event of a transfer of control. This rule should be analyzed in a context of appropriation of private benefits between the new controlling shareholders and...

Information technology (IT) is used to regulate organizational processes both to allow and to prevent specific behavior. Recent scandals in the financial industry exposed overconfidence in IT based regulation and, as scholars of regulation have long known, the games people play increase with the...

The equal opportunity rule is seen as protecting investors in the event of a transfer of control. In order to better analyze the consequence of such a rule, we need to account for the information asymmetry that exists between new controlling shareholders and outside investors with private...

A publication score of voluntary disclosed information disclosed by French firms was built on the 2003-2007 period. This original set of data is used to analyze the impact of the introduction of IFRS standards scheduled in 2005. It is also used to identify the determinants of communication...

This paper provides evidence of informed trading before and after a rights issue. First, we find significant net buying and selling activity by informed traders prior to the announcement date leading to a temporary price pressure effect. Even though those results are consistent with the presence...