Intro -- EQUITY ASSET VALUATION -- CONTENTS -- PREFACE -- THE CFA PROGRAM -- ACKNOWLEDGMENTS -- ABOUT THE CFA INSTITUTE INVESTMENT SERIES -- THE TEXTS -- CHAPTER 1 OVERVIEW OF EQUITY SECURITIES -- LEARNING OUTCOMES -- 1. INTRODUCTION -- 2. EQUITY SECURITIES IN GLOBAL FINANCIAL MARKETS -- 3....

Intro -- Equity Asset Valuation -- Contents -- Foreword -- Preface -- Acknowledgments -- About the CFA Institute Investment Series -- Chapter 1 Equity Valuation: Applications & Processes -- Learning Outcomes -- 1. Introduction -- 2. Value Definitions and Valuation Applications -- 2.1. What Is...

We examine how informed traders trade in the option market around news announcements. We show that their profits depend on whether positions are long or short, whether trades take place before or after news releases, and whether events are scheduled or unscheduled. We predict and find that...