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.

Financial Systems & Controls, Venture Analysis, Economic aspects, Acquisitions and mergers, Business enterprises

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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.

Statistical Data Included, Prices and rates, Stocks, Stock prices, Tracking stocks

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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.

Government expenditures, Commodity Contracts Dealing, Commodity contracts brokers, dealers, Commodity Brokers, Economic policy, Commodity futures

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