We examine whether insiders systematically exploit their private information before exchange listings and delistings about which they are likely to know before outsiders/investors. Analyzing a comprehensive sample of over-the-counter (OTC) firms, which list on the New York Stock Exchange (NYSE)...

The increasing use of on-market buyback programs in Australia may not be fully explained by the typical motivations of information signaling and free cash flows offered by previous researchers. For some firms at least, management may believe the shares are overvalued. It is in this context that...

This paper provides the first comprehensive analysis of the dynamic relationships between the South African and major world equity markets during May 1988 - May 2000. Using a multivariate cointegration framework and vector error-correction modeling the results indicate that there is a long-run...

US banks making prime rate revisions are known to suffer stock price declines, which is consistent with the Stiglitz–Weiss adverse selection theory, given the relative stickiness of interest rates. If banks suffer price declines, then why are some banks consistent leaders when revising prime...