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Persistent link: https://www.econbiz.de/10012308879
This paper uses a unique transaction-level fund trading dataset to evaluate institutional investors' trading performance. Our research design follows a two-step procedure. In the first stage, we identify funds that heavily sold shares in firms before their public revelation of stock option...
Persistent link: https://www.econbiz.de/10013005758
Extant studies provide two additional explanations other than backdating for the abnormal stock returns around CEO option grants – timing of option grants and timing of corporate disclosures. We examine the effect of the Sarbanes-Oxley Act of 2002 (SOX), the stock option backdating scandal,...
Persistent link: https://www.econbiz.de/10013009160
This paper uses transaction-level fund trading data from the United States to study the information advantage of institutional investors. Our research design follows a two-step procedure. In the first step, we identify funds that sell shares in firms before their unexpected revelation of stock...
Persistent link: https://www.econbiz.de/10012916867