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Informed Trading and the Market Reaction to Accounting Restatements
Badertscher, Brad A. - 2013
We examine how informed trading activities affect the market reaction to accounting restatements. We find significantly … less negative reactions to accounting estatements when managers are net purchasers of stock before the restatement, and ….Taken together, these findings suggest that investors use informed trading activities to help interpret and price accounting …
Persistent link: https://www.econbiz.de/10013094136
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The growth of information asymmetry between earnings announcements and its implications for reporting frequency
Stoumbos, Robert - In: Management science : journal of the Institute for … 69 (2023) 3, pp. 1901-1928
Persistent link: https://www.econbiz.de/10014305182
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Stock market liquidity and information asymmetry around voluntary earnings disclosures : new evidence from France
Lakhal, Faten - In: International journal of managerial finance : IJMF 4 (2008) 1, pp. 60-75
Persistent link: https://www.econbiz.de/10003933870
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Firms' Strategic Disclosure of Bad News Around Debt Offerings
Jung, Kooyul - 2013
This study examines management disclosure behavior around debt offerings and its effect on the cost of debt offered. For the equity market, studies show that management disclosure of good news decreases the cost of equity. Studies also show that debt holders are more concerned with negative...
Persistent link: https://www.econbiz.de/10013076830
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Bank Opacity and Information Asymmetry around Quarterly Earnings Announcements
Ansari, Tanvir - 2014
The goal of achieving transparency has become more challenging in recent years as banks' activities have become increasingly more complex and dynamic, making it harder for outsiders to comprehend the full extent of banks' exposures. In this study, we examine various on- and off-balance sheet...
Persistent link: https://www.econbiz.de/10013064269
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Price Shocks, News Disclosures, and Asymmetric Drifts
Lu, Hai - 2016
Motivated by investor disagreement and corporate disclosure literatures, we examine how stock price shocks affect future stock returns. We find that both large short-term price drops and hikes are followed by negative abnormal returns over the subsequent year, consistent with the conjecture that...
Persistent link: https://www.econbiz.de/10013009192
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Information Asymmetry in Spinoffs : The Role of Incremental Disclosure
Campbell, John L. - 2020
Prior research argues that one reason firms engage in corporate spinoffs is to increase firm value by reducing information asymmetry with shareholders (the “information hypothesis”). However, the literature has yet to identify a mechanism through which this reduction in information asymmetry...
Persistent link: https://www.econbiz.de/10012851766
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Heterogeneity in the information content of 8-K disclosures about private targets : acquirer size and target significance
Bayar, Onur; Das, Sougata; Kesici, Emre - In: Global finance journal 48 (2021), pp. 1-20
Persistent link: https://www.econbiz.de/10012886919
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Information Asymmetry and Trading in Dark Pools : Evidence From Earnings Announcement and Analyst Recommendation Revisions
Balakrishnan, Karthik - 2017
Using the first and recently available universe of dark pool trading in the U.S. from FINRA, we document trading patterns around scheduled and unscheduled corporate information events. We find that there is more trading in dark pools in the week of earnings announcement as well as analyst...
Persistent link: https://www.econbiz.de/10012955967
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Does financial statement comparability mitigate delayed trading volume before earnings announcements?
Kim, Junwoo; Kim, Robert; Kim, Sangwan - In: Journal of business research : JBR 107 (2020), pp. 62-75
Persistent link: https://www.econbiz.de/10012156719