Do institutional investors exploit the post-earnings announcement drift?
Article Abstract:
The reaction of naive investors after earnings announcement leads to post earning announcement drift on stock markets. Institutional investors step in to exploit this situation and gather annualized returns approximating to 22%. This drawback of asset pricing model is analyzed.
Publication Name: The Journal of Accounting and Economics
Subject: Business
ISSN: 0165-4101
Year: 2005
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Ownership concentration and sensitivity of executive pay to accounting performance measures: evidence from publicly and privately held companies
Article Abstract:
Links between the way that corporate chief executives are compensated, and the structure of companies are examined in detail. Subjective measures appear to carry greater weight in companies that are closely-held.
Publication Name: The Journal of Accounting and Economics
Subject: Business
ISSN: 0165-4101
Year: 1999
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What insiders know about future earnings and how they use it: Evidence from insider trades
Article Abstract:
The authors find that insider trading takes place up to two years before a significant event, but does not happen during the last two months before the event.
Publication Name: The Journal of Accounting and Economics
Subject: Business
ISSN: 0165-4101
Year: 2003
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