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Institutional Holding and Trading Volume Reactions to Quarterly Earnings Announcements

Lee, Jason - 2013

This paper empirically examines the incremental relation between trading volume surrounding quarterly earnings announcements and institutional holdings. Consistent with Cready (1988) and Lee (1992), we find a significant positive relation between abnormal trading volume and the fraction of...

Persistent link: https://www.econbiz.de/10013080429

The Impact of Investor Attention on M&A Announcement Target Returns

Huynh, Toan Luu Duc - 2020

We investigate the impact of investor attention, proxied by Google search volume, on target abnormal returns and liquidity measures around M&A announcements. Investor attention slightly increases before and exhibits a sharp incline at the announcement date, with elevated levels of attention...

Persistent link: https://www.econbiz.de/10012830492

How Does Investor Attention Affect Stock Repurchases?

Wu, Yuxin - 2022

I analyze attention-induced stock repurchases. I hypothesize that firms that announce an open market repurchase program of a certain size are likely to follow through to a larger extent if they receive greater investor attention to their repurchase behavior. I test this hypothesis using 10-K and...

Persistent link: https://www.econbiz.de/10014245027

The Apportionment of Takeover Wealth Gains Over Investor Groups

McAdam, Anna Christine - 2011

This paper identifies and apportions the wealth gain realisation from a takeover event for four investor groups, which … performance from the takeover occasion. The present study results thus qualify the extant takeover research conclusion that target … firm shareholders are the ‘winners' from a takeover occasion. This research concludes that it is the informed investor who …

Persistent link: https://www.econbiz.de/10013133659

An Investigation of Australian Takeover Firm Returns from an Investor Viewpoint

Madam, Anna - 2011

This study employs comprehensive data from the Australian market to investigate takeover firm returns from an investor … takeover wealth gains for four investor classes which are the domestic domiciled nominees, superannuation (pension) funds … that investors realise a takeover return which is commensurate with their information level. The evidence further indicates …

Persistent link: https://www.econbiz.de/10013121674

Investor Conferences and Institutional Trading in Takeover Targets

Subasi, Musa - 2014

I examine whether access to the management of takeover targets at investor conferences is associated with informed … trading before these firms' takeover announcements. I find that during the one year preceding takeover announcements … investors, targets' conference presentations benefit large investors and have no impact on small investors' pre-takeover trades …

Persistent link: https://www.econbiz.de/10013066937

Investors’ Reaction to the Use of Poison Pills as a Tax Loss Preservation Tool

Sikes, Stephanie A. - 2014

The recent economic downturn resulted in firms generating significant tax losses, which they risked losing if they experienced an ownership change. In response, a number of loss firms adopted poison pill plans. We document a significant negative market reaction to the announcement of 62 poison...

Persistent link: https://www.econbiz.de/10013058013

Earnings growth and acquisition returns : Do investors gamble in the takeover market?

Liu, Tingting; Tu, Danni - 2021

We document a strong positive initial market reaction to merger announcements from bidders with either large earnings growth or significant earnings decline, relative to those with neutral earnings change, reflecting a U-shaped pattern between bidders’ earnings growth and announcement returns....

Persistent link: https://www.econbiz.de/10013323516

Post-merger returns in frontier markets, or how we learned to stop worrying and love the acquirers

Zaremba, Adam; Szyszka, Adam; Płotnicki, Michał; … - In: Journal of business economics and management 19 (2018) 1, pp. 96-109

This study presents the results from a comprehensive out-of-sample test of long-run returns following mergers and acquisitions (M&As). Using a unique sample from 23 frontier markets of almost 800 transactions conducted during the years 1992 to 2016, we implement both cross-sectional tests and...

Persistent link: https://www.econbiz.de/10012174722

What do investors value? : a multidisciplinary review

Guo, Wei; Yu, Tieying - In: Journal of management 50 (2024) 1, pp. 216-263

Persistent link: https://www.econbiz.de/10014578341