A conversation with Chief Judge Mary Ann Cohen

Article Abstract:

US Tax Court Chief Judge Mary Ann Cohen has found that some practitioners before the court are not fully aware of the limitations placed on the Court by statute and by jurisdiction. The Tax Court is bound to interpretation of federal tax statutes and does not resolve controversies on equitable or policy grounds. The Tax Court operates as a trial court and as a reviewing body. When reviewing a trial judge's decision, the Court is bound by the factual record created at trial. Surprising rulings may have been influenced by the facts presented or the litigation strategies adopted.

Courts, US Tax Court, United States, Officials and employees, Judges, Interview, Tax courts, United States. Tax Court, Cohen, Mary Ann

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Do Firms Knowingly Sell Overvalued Equity?

Article Abstract:

The issue of whether managers deliberately sell equity that is overvalued is examined, based on the relationship between insider trading prior to seasoned equity offerings and the long-term performance of the issuing firms. Prior trading by top executives can be indicative of the quality of firms that are offering secondary seasoned equity, while primary seasoned equity does not appear to be a good investment no matter what the insider trading pattern is.

Statistical Data Included, Economic aspects, Corporations, Valuation, Insider trading in securities, Insider trading (Securities)

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What's happened to the chief?

Article Abstract:

Research into the effects of the announcement of chief executive officer dismissal on share value is presented. The survey of 331 departures showed that share prices of firms which did not make open announcements fell abnormally.

Management, Chief executive officers, Investor relations

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