It has been documented that investments in Research and Development (R&D) are associated with increased errors and inaccuracy in earnings forecasts made by financial analysts. These deficiencies have been generally attributed to information complexity and the uncertainty of the future benefits...

We explore whether NHS hospitals managed their earnings upward before applying for Foundation Trust (FT) status, a scheme that allowed them greater financial freedom and management autonomy, in order to present an overly positive picture and increase their chances for a successful application....

This paper offers new evidence on informed trading around merger and acquisition announcements from the UK equity and options market. The analysis suggests that in about 25%-33% of events there is abnormal option trading volume during the month that precedes the announcement. Such evidence is...