Li, Xu; Radhakrishnan, Suresh; Shin, Haeyoung; Zhang, Jin - In: Journal of Accounting and Public Policy 30 (2011) 4, pp. 298-326
We examine the impact of Regulation Fair Disclosure (RFD) on transient institutional investors' abnormal trading behavior around accounting restatements. We find that while in the pre-RFD period, transient institutional investors exhibit abnormal selling of restating firms' stocks one quarter...