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This article examines the effect of the Private Securities Litigation Reform Act of 1995 (PSLRA) on stockholder lawsuits . We explore the role of restatements, earnings forecasts, and insider trading ...
choice in a certain external environment. This is one of the expected results of environmental information disclosure . A stockholder of a corporation is concerned with its profitability. That is why ...
from stockholders was probably inevitable. Dozens of lawsuits were filed in an effort to recover the value of collapsed shares and other financial instruments, but these would (eventually) yield only ...
prospectus disclosures on precise topics of SEC concern. Revenue recognition is the dominant topic of SEC concern, and it is not independently discovered by investors. Increased SEC concern about ...
the company’s earnings and assets (“tunneling”12) or otherwise taking advantage of minority shareholders. The often-abused power of parents and controlling shareholders to exploit subsidiaries and controlled ...
Abstract This article explores the information effect of financial risk management. Financial hedging improves the informativeness of corporate earnings as a signal of management ability and project ...
create the suspicion of fraud. The following quotes are from Venture, April 1987: For a company about to go public, the best palliative against a possible stockholder lawsuit is for earnings to thrive ...
in identifying the sentiment of the news per se, but rather its saliency. Specifically, we use textual analysis to identify events relevant to companies, such as new product launches, lawsuits , analyst coverage ...
generate short-term earnings ,14 whereas some investors with long-term investment horizons may have concerns about the impact of short-term strategies on the company’s sustainability. Under a ‘one-share-one ...
decision |$d.$| Stepping back to period 0, rational pricing requires that the shares be priced to earn zero expected return over the next period. This gives the second equilibrium pricing condition: $${P_0 ...
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