Stock price reaction to news and no-news: drift and reversal after headlines

Article Abstract:

Various investor reactions to news in an integrated model are studied and the hypothesis that stocks show no abnormal return after public news is tested. After studying a comprehensive database of headlines for a large group of firms, it is concluded that the theory is false. Investor over- and under-reaction is examined and the implications of patterns of abnormalities are discussed.

Influence, Stock prices, Investor relations, Industry, Industries

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Leverage decision and manager compensation with choice of effort and volatility

Article Abstract:

A study of the incentive effects of levered stock versus unlevered stock granted by risk-averse shareholders to risk-averse managers and the findings are presented.

Management dynamics, Management, Company investment, Investments, Stockholders, Company business management

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Strategic alliances, equity stakes, and entry deterrence

Article Abstract:

Implications of corporate alliances on inter-firm equity sales are examined.

General services, Corporations, Analysis, Purchasing, Strategic alliances (Business), Equity (Finance)

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