This study examines if tradings on stocks based on the inside information about the "Heard on the Street" column of the Wall Street Journal could generate abnormal returns. The authors found significant abnormal returns on days t = -1 and t = 0 (publication date) for the stocks related to...

On April 26, 1982, Moody's Investors Service refined its rating system for the first time in its seventy-three year rating history. We examine the information content of the rating refinement in the study. We find a statistically significant change in the yields on bonds whose ratings were...

Purpose – The purpose of this paper is to examine whether the seasonal anomaly known as the reverse weekend effect detected at index level can also be observed at individual stock level. Design/methodology/approach – This paper's methodology is based on the model first developed by Connolly...