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Insider Trading and Response to Earnings Announcements : The Impact of Accelerated Disclosure Requirements
Tartaroglu, Semih - 2017
This paper contributes to the debate on the consequences of increased disclosure regulation by investigating the effects of expedited reporting requirements of Form 4 filings, mandated by the Sarbanes-Oxley Act (SOX), on the market response to earnings announcements. We first confirm that SOX...
Persistent link: https://www.econbiz.de/10012972742
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Informational Content and Disclosures of Stock Exchange Websites
Gupta, P. - 2015
Stock exchanges are the backbone of the financial markets in any country. The stock exchanges act as institutions for resources mobilization for companies and implement the policy agenda of the government through mandatory disclosures. The website is the apparent face of the stock exchanges...
Persistent link: https://www.econbiz.de/10013033923
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Compliance with IFRS Mandatory Disclosure Requirements : A Structured Literature Review
Tsalavoutas, Ioannis - 2020
This paper reviews the literature on compliance with IFRS mandatory disclosure requirements for the post-2005 period. We adopt a structured literature review methodology and address three key questions: how is research on compliance with IFRS mandatory disclosure requirements developing; what is...
Persistent link: https://www.econbiz.de/10012844883
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Economic Consequences of Corporate Governance Disclosure : Evidence from the 2006 SEC Regulation on Related-Party Transactions
Hope, Ole-Kristian - 2019
This paper examines economic consequences of a 2006 Securities and Exchange Commission regulation that mandated public firms to disclose their governance policies on related-party transactions (hereafter RPTs). Employing hand-collected RPT data for S&P 1500 firms, we find that the initiation of...
Persistent link: https://www.econbiz.de/10012865052
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Policy Uncertainty, Bad News Disclosure, and Stock Price Crash Risk
Kim, Jeong-Bon; Tseng, Kevin; Wang, Jundong (Jeff); Xi, … - 2021
This paper documents that policy uncertainty reduces future stock price crash risk. Our tests show that this negative relation is more pronounced among firms with more short-sale constraints, with no actively traded credit default swap contracts, or with higher firm-level political risks. The...
Persistent link: https://www.econbiz.de/10013243260
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Does Stock Liquidity Shape Voluntary Disclosure? Evidence from the SEC Tick Size Pilot Program
Hope, Ole-Kristian; Liu, Junhao - 2021
Employing the SEC Tick Size Pilot Program that increases the minimum trading unit of a set of randomly selected small-capitalization stocks, we examine whether and how an exogenous change in stock liquidity affects corporate voluntary disclosure. Using difference-in-differences analyses with...
Persistent link: https://www.econbiz.de/10013323209
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The effects of MiFID II on sell-side analysts, buy-side analysts, and firms
Fang, Bingxu; Hope, Ole-Kristian; Huang, Zhongwei; … - 2019
This paper provides early but broad empirical evidence on a major new investor protection regulation in Europe, MiFID II, which requires investment firms to unbundle investment research from other costs they charge to clients. We predict that the price separation resulting from unbundling and a...
Persistent link: https://www.econbiz.de/10012052561
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Did the Siebel Systems Case Limit the SEC’s Ability to Enforce Regulation Fair Disclosure?
Allee, Kristian D. - 2020
We examine whether a shock to the enforceability of Regulation Fair Disclosure (Reg FD) limited its ability to restrict the flow of private information between managers and investors. Prior work provides evidence that Reg FD reduced managers' selective disclosure of material information...
Persistent link: https://www.econbiz.de/10012848129
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Business Sustainability Performance and Cost of Equity Capital
Ng, Anthony C. - 2018
Business sustainability has emerged as the theme of the 21st century. We examine whether and how different components … of economic sustainability disclosure (ECON), as well as environmental, social, and governance (ESG) dimensions of … sustainability performance affect cost of equity, individually and in aggregate. In addition, we investigate whether and how ECON and …
Persistent link: https://www.econbiz.de/10012923851
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Do Managers Convey Information via Voluntary Disclosure when GAAP Limits their Discretion?
Hribar, Paul - 2020
We examine whether managers convey more information via voluntary disclosure channels when standard-setters limit managers' discretion in GAAP. We estimate the extent to which standard setters limit managers' discretion by counting the number of times obligatory modal verbs are mentioned in the...
Persistent link: https://www.econbiz.de/10012850517