Although substantial shareholders are often considered quasi-insiders, not much is known about the information they possess, especially around changes in corporate control events. We examine whether substantial shareholders in target firms possess information about future takeover activity and...

Investor relations are costly activities undertaken by firms to align the expectations of the shareholders with that of the company. These activities involve interactions with investors and analysts as well as voluntary information disclosures intended to reduce information asymmetry while...

In this virtual special issue (VSI) we acknowledge the contribution of Ball and Brown (1968) [BB68] and select some key papers from the Australian Journal of Management (AJM), published since its inception in 1976, that demonstrate how Ball and Brown influenced, and in many cases inspired, the...

The insider trading policy is an aspect of a firm's internal governance which ensures corporate transparency is maintained and promotes investor confidence. We examine the effect of trading policies on the returns to trades conducted by corporate insiders in a period where the adoption of a...

We investigate the content, timing and relevance of firms' narrative disclosure about the effects of IFRS adoption in annual statutory financial statements and firm announcements to the stock exchange for 150 large listed Australian firms in the three-year period surrounding adoption (which...

In this paper, we investigate insider trading activity around profit warnings. We conjecture that since firms are required to release price sensitive information, such as in the form of profit warnings, to ensure that investors are continually informed of changes in performance and future...

Disclosure via a successful investor relations (IR) policy enables firms to enhance market exposure, increase analyst coverage and attract institutional investors. We examine the link between IR and information asymmetry where a web-based survey was used to rate a firm's practices. Our results...

We provide evidence of unreported trading by corporate insiders in their own firm's shares and link this activity to future firm earnings and analyst forecast error. Unreported trading represent discrepancies between insider shareholdings from trades they report to the Exchange and their...