Managerial Opportunism and Earnings Surprises

Name: Managerial Opportunism and Earnings Surprises
Brand: Scholars' Press
SKU: 9783639760842
Price: 13444 HUF
Availability: InStock

An investigation of insider trading and perceived market valuation divergence

Szerző: Yu Wen

Nyelv:

Kötés: Puha kötésű

Kiadó: Scholars' Press

Elérhetőség: Beszállítói készleten

Küldés 5-8 napon belül

13 444 Ft

This study explores managerial insider trading as a function of differences between managers and the...

Információk a könyvről

Szerző

Yu Wen

Nyelv

Angol

Kötés

Könyv - Puha kötésű

Kiadva

2015

oldal

104

EAN

9783639760842

ISBN

3639760840

Enbook ID

09196957

Kiadó

Scholars' Press

Súly

163

Méretek

152 x 229 x 6

Teljes leírás

This study explores managerial insider trading as a function of differences between managers and the market s assessment of company earning components specifically operating cash flows and accruals. It builds a perspective of managers as sophisticated investors who, while engaging in earnings management, ultimately make insider trading decisions based on the divergence between their private valuation of earnings components and the market s. The study applies the methodological framework of the Mishkin (1983) test. It finds supporting evidence that insider buying behavior is consistent with the predictions of managerial insider trading based on a contemporaneous market valuation divergence of both operating cash flows and accruals. Although insider selling is not indicative about a contemporaneous market overvaluation, the findings by examining and comparing the market valuation divergence in the period of insider selling and in the following period, suggest that insiders do time their sales in the period of higher excess returns.

Érdekelheti

Azok a vásárlók, akik ezt a könyvet megvásárolták, a következőket is megvásárolták

Leggyakrabban keresett

Categories

Authors

Publishers

Termékek

Termékek

Leggyakrabban keresett

Categories

Authors

Publishers

Termékek

Termékek

Managerial Opportunism and Earnings Surprises

An investigation of insider trading and perceived market valuation divergence

Információk a könyvről

Teljes leírás

Érdekelheti

Azok a vásárlók, akik ezt a könyvet megvásárolták, a következőket is megvásárolták