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Author: Xiaoli Tian Publisher: ISBN: Category : Consolidation and merger of corporations Languages : en Pages : 64
Book Description
Over the last decade, the SEC has taken a number of steps to move towards a real-time reporting regime in an effort to deter strategic accumulation of news disclosures by management. However, evidence from theoretical literature suggests managers are still able to engage in strategic bunching of within-firm disclosures under a real-time reporting regime if managers have control over the timing of news-triggering events. To test whether real-time reporting deters strategic disclosures I examine managers' disclosure behavior for both regular poison pill adoptions and in-play pill adoptions because managers can time the regular poison pill adoptions but have limited ability to do so for in-play pill adoptions. My results indicate real-time reporting does not (does) deter disclosure bunching for regular poison pills (in-play pills). To the extent that disclosure bunching occurs for in-play pills under the real-time reporting regime, my findings suggest managers are more likely to time the disclosure of other news to achieve disclosure bunching. Disclosure bunching dampens the negative pricing impact of poison pill adoption disclosures and continues to do so under the real-time reporting regime.
Author: Xiaoli Tian Publisher: ISBN: Category : Consolidation and merger of corporations Languages : en Pages : 64
Book Description
Over the last decade, the SEC has taken a number of steps to move towards a real-time reporting regime in an effort to deter strategic accumulation of news disclosures by management. However, evidence from theoretical literature suggests managers are still able to engage in strategic bunching of within-firm disclosures under a real-time reporting regime if managers have control over the timing of news-triggering events. To test whether real-time reporting deters strategic disclosures I examine managers' disclosure behavior for both regular poison pill adoptions and in-play pill adoptions because managers can time the regular poison pill adoptions but have limited ability to do so for in-play pill adoptions. My results indicate real-time reporting does not (does) deter disclosure bunching for regular poison pills (in-play pills). To the extent that disclosure bunching occurs for in-play pills under the real-time reporting regime, my findings suggest managers are more likely to time the disclosure of other news to achieve disclosure bunching. Disclosure bunching dampens the negative pricing impact of poison pill adoption disclosures and continues to do so under the real-time reporting regime.
Author: Benjamin Segal Publisher: ISBN: Category : Languages : en Pages : 51
Book Description
Using a comprehensive sample of non-earnings 8-K filings from 2005-2013, we examine whether firms engage in strategic reporting of mandatory and voluntary news. In particular, we examine whether firms report negative news when investor attention is low, and whether firms bundle positive and negative news. Our findings support the notion that managers believe in the existence of investor inattention and engage in strategic disclosure by reporting negative news after trading hours. These results particularly apply to public firms, where equity market pressures provide stronger incentives to mitigate market reaction to news by exploiting investor inattention. Further analysis of the market reaction to strategic disclosure uncovers no evidence of investor inattention, consistent with market efficiency. We also observe that public firms are more likely to engage in strategic disclosure through news bundling and that the likelihood of strategic disclosure through bundling increases with the likelihood of strategic disclosure through timing.
Author: Michael L. Barnett Publisher: Oxford University Press, USA ISBN: 0199596700 Category : Business & Economics Languages : en Pages : 523
Book Description
The Handbook offers a diverse set of scholarly perspectives on the nature of corporate reputation: what it is, where it comes from, and how it may be managed to create and protect corporate as well as societal value. Written and organized in an accessible way, it assesses the current state of the field and provides guidance for future research.
Author: Joshua Ronen Publisher: Springer Science & Business Media ISBN: 0387257713 Category : Business & Economics Languages : en Pages : 587
Book Description
This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models?
Author: Knut Sogner Publisher: Routledge ISBN: 1000395979 Category : Business & Economics Languages : en Pages : 213
Book Description
Corporate governance is not just about models of best practice organisation or prescriptions following laws or social conventions. Corporate governance is also about persons of power seeking performance, and they do so in ways that transcend structures and pre-conceived notions of the structural set-up of the business. This book emphasises the decision-making dimensions of corporate governance, placing it right in the messy middle of the ever-changing world of capitalism, focussing on the interplay between professional managers and shareholders. This book aims to bring together several fresh perspectives on the development of capitalism seen through the lens of corporate governance. It illustrates the role of intentionality and persons, both as a method with which to understand processes of change, but also as a principle with which to seek a deeper understanding of the corporate governance choices made. It will be of interest to researchers, academics and students in the fields of corporate governance and entrepreneurship, as well as practitioners and other audience interested in the evolution of capitalism and corporate culture.
Author: Chandra Kanodia Publisher: Now Publishers Inc ISBN: 1601980620 Category : Business & Economics Languages : en Pages : 105
Book Description
Kanodia presents a new approach to the study of accounting measurement that argues that how firms' economic transactions, earnings, and capital flows are measured and reported to the capital markets has substantial effects on the firms' real decisions and on the allocation of resources.
Author: National Academies of Sciences, Engineering, and Medicine Publisher: National Academies Press ISBN: 0309459575 Category : Medical Languages : en Pages : 483
Book Description
Drug overdose, driven largely by overdose related to the use of opioids, is now the leading cause of unintentional injury death in the United States. The ongoing opioid crisis lies at the intersection of two public health challenges: reducing the burden of suffering from pain and containing the rising toll of the harms that can arise from the use of opioid medications. Chronic pain and opioid use disorder both represent complex human conditions affecting millions of Americans and causing untold disability and loss of function. In the context of the growing opioid problem, the U.S. Food and Drug Administration (FDA) launched an Opioids Action Plan in early 2016. As part of this plan, the FDA asked the National Academies of Sciences, Engineering, and Medicine to convene a committee to update the state of the science on pain research, care, and education and to identify actions the FDA and others can take to respond to the opioid epidemic, with a particular focus on informing FDA's development of a formal method for incorporating individual and societal considerations into its risk-benefit framework for opioid approval and monitoring.
Author: Xiaoli Tian
Author: Xiaoli Tian
Author: Haitham M. Alzoubi
Author: Benjamin Segal
Author: Michael L. Barnett
Author: Joshua Ronen
Author: Knut Sogner
Author: Chandra Kanodia
Author: National Academies of Sciences, Engineering, and Medicine
Author: 
Author: American Management Association