Seasoned Equity Offerings Insider Trading The Signaling Hypothesis
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Author | : Young Hwan Lee |
Publisher | : |
Total Pages | : 240 |
Release | : 1992 |
Genre | : |
ISBN | : |
Download Seasoned Equity Offerings, Insider Trading, the Signaling Hypothesis Book in PDF, Epub and Kindle
Author | : Jan Jindra |
Publisher | : |
Total Pages | : 204 |
Release | : 2000 |
Genre | : |
ISBN | : |
Download Seasoned Equity Offerings, Managerial Opportunism, and Insider Trading Book in PDF, Epub and Kindle
A major attribute of the United States capital markets is the separation of ownership and control. This separation gives insiders the opportunity to take advantage of private information not available to the market. The issue of whether insiders opportunistically take advantage of their private information is studied in two contexts: seasoned equity issues and earnings manipulation.
Author | : Oliver M. Rui |
Publisher | : |
Total Pages | : 31 |
Release | : 2003 |
Genre | : |
ISBN | : |
Download Information Content of Insider Trading Around Seasoned Equity Offering Book in PDF, Epub and Kindle
This paper examines insider trading around seasoned equity offering announcements in Hong Kong. Consistent with prior studies, we find positive (negative) abnormal returns associated with the announcement of placings (rights offerings). We find evidence that suggests insiders of placing firms delay trading to avoid legal and market penalties. Mature firms are more undervalued relative to growth firms in the placing sub-sample. Furthermore, insiders sell (buy) because of a negative (positive) price response for mature (growth) firms in the rights offering sub-sample. The stock price response to the information content of insider trading depends on the type of security offered. A positive price response is observed for growth firms that announce placements. In general, growth opportunities rather than insider trading explain longer-term investment returns.
Author | : Loretta Nartekie Baryeh |
Publisher | : ProQuest |
Total Pages | : 88 |
Release | : 2000 |
Genre | : |
ISBN | : 9780549631897 |
Download Earnings Management and Insider Trading Around Seasoned Equity Offerings Book in PDF, Epub and Kindle
Author | : Craig G. (Craig Gordon) Dunbar |
Publisher | : London : Richard Ivey School of Business, University of Western Ontario |
Total Pages | : 23 |
Release | : 1999 |
Genre | : Insider trading in securities |
ISBN | : 9780771421631 |
Download Long-run Performance and Insider Trading in Completed Vs. Cancel[l]ed Seasoned Equity Offerings Book in PDF, Epub and Kindle
Author | : Hamid Arshadi |
Publisher | : Springer Science & Business Media |
Total Pages | : 171 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 1461532442 |
Download The Law and Finance of Corporate Insider Trading: Theory and Evidence Book in PDF, Epub and Kindle
A thorough analysis of insider trading requires the integration of law and finance, and this book presents a theoretical and empirical examination of insider trading by incorporating a synthesis of securities law with that of financial theory. The book begins with a conceptual framework that explores the theoretical roles of markets, firms and publicly held corporations, including a discussion of corporate governance to determine both who may have access to nonpublic information, and their legal rights and responsibilities. The book then examines different aspects of the securities laws, including the Securities Act of 1933, the Securities Exchange Act of 1934, and a critique of the SEC disclosure rules and their ramifications for market efficiency. This is followed by a detailed chronology of insider trading regulations enacted in the U.S. since 1934 and an overview of the existing empirical literature on insider trading. Empirical evidence is presented on insider trading activities and the merit of anti-insider trading laws is evaluated on theoretical arguments and recent empirical developments. The authors conclude by arguing that insider trading laws and enforcement activities have failed and propose the decriminalization of insider trading.
Author | : H. Nejat Seyhun |
Publisher | : MIT Press |
Total Pages | : 452 |
Release | : 2000-02-28 |
Genre | : Business & Economics |
ISBN | : 9780262692342 |
Download Investment Intelligence from Insider Trading Book in PDF, Epub and Kindle
Learn how to profit from information about insider trading. The term insider trading refers to the stock transactions of the officers, directors, and large shareholders of a firm. Many investors believe that corporate insiders, informed about their firms' prospects, buy and sell their own firm's stock at favorable times, reaping significant profits. Given the extra costs and risks of an active trading strategy, the key question for stock market investors is whether the publicly available insider-trading information can help them to outperform a simple passive index fund. Basing his insights on an exhaustive data set that captures information on all reported insider trading in all publicly held firms over the past twenty-one years—over one million transactions!—H. Nejat Seyhun shows how investors can use insider information to their advantage. He documents the magnitude and duration of the stock price movements following insider trading, determinants of insiders' profits, and the risks associated with imitating insider trading. He looks at the likely performance of individual firms and of the overall stock market, and compares the value of what one can learn from insider trading with commonly used measures of value such as price-earnings ratio, book-to-market ratio, and dividend yield.
Author | : Douglas Cumming |
Publisher | : OUP USA |
Total Pages | : 937 |
Release | : 2012-03-22 |
Genre | : Business & Economics |
ISBN | : 0195391241 |
Download The Oxford Handbook of Entrepreneurial Finance Book in PDF, Epub and Kindle
Provides a comprehensive picture of issues dealing with different sources of entrepreneurial finance and different issues with financing entrepreneurs. The Handbook comprises contributions from 48 authors based in 12 different countries.
Author | : Bjørn Espen Eckbo |
Publisher | : Elsevier |
Total Pages | : 559 |
Release | : 2007-05-21 |
Genre | : Business & Economics |
ISBN | : 0080488919 |
Download Handbook of Corporate Finance Book in PDF, Epub and Kindle
Judging by the sheer number of papers reviewed in this Handbook, the empirical analysis of firms’ financing and investment decisions—empirical corporate finance—has become a dominant field in financial economics. The growing interest in everything “corporate is fueled by a healthy combination of fundamental theoretical developments and recent widespread access to large transactional data bases. A less scientific—but nevertheless important—source of inspiration is a growing awareness of the important social implications of corporate behavior and governance. This Handbook takes stock of the main empirical findings to date across an unprecedented spectrum of corporate finance issues, ranging from econometric methodology, to raising capital and capital structure choice, and to managerial incentives and corporate investment behavior. The surveys are written by leading empirical researchers that remain active in their respective areas of interest. With few exceptions, the writing style makes the chapters accessible to industry practitioners. For doctoral students and seasoned academics, the surveys offer dense roadmaps into the empirical research landscape and provide suggestions for future work. *The Handbooks in Finance series offers a broad group of outstanding volumes in various areas of finance *Each individual volume in the series should present an accurate self-contained survey of a sub-field of finance *The series is international in scope with contributions from field leaders the world over
Author | : Mark Edward Bagnoli |
Publisher | : |
Total Pages | : 48 |
Release | : 1991 |
Genre | : Insider trading in securities |
ISBN | : |
Download Insider Trading in Financial Signaling Models Book in PDF, Epub and Kindle