Earnings management and the market performance of acquiring firms
Article Abstract:
The efficiency of the market in dealing with manipulated accounting reports is examined. The post-merger underperformance anomaly is described. The impact of the earnings management on the performance of acquiring firms is analyzed. The analysis shows that the reversal of the effects of pre-merger earnings management is a crucial factor of the short and long term performance of stock-for-stock acquirers.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2004
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Stealth-trading: Which traders' trades move stock prices?
Article Abstract:
Disproportionately large cumulative stock price change relative to the proportion of all trades and volume seen to involve medium size trades can be attributed to informed traders, usually institutions.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2001
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An examination of own account trading by dual traders in futures markets
Article Abstract:
Control of liquidity and supply of inventory appear to be the determinants of trading decisions by dual commodities dealers.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2003
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