This article examines the effect of ownership structure on corporate performance, using stock
returns as a measure of performance. Based on the 1988–1992 sample period, we find that …

The agency-cost-based hypothesis predicts that dividend payout is inversely related to the
degree of institutional ownership. By contrast, under the tax-based hypothesis, dividend …

In this paper we test whether a secondary dissemination of information affects stock prices.
We examine stock price reactions to the publication of the “Insider Trading Spotlight”(ITS) …

This study documents bidding‐firm stock returns upon the announcement of takeover
terminations. On average, bidding firms that offer common stock experience a positive abnormal …

This study examines whether investors regard the level of insider ownership of a firm as
useful for evaluating stock split decisions. Results show that the abnormal returns at the …

By a variety of measures, mutual funds have grown dramatically as vehicles for investing in
portfolios of stock, and funds have become major players in equity markets. Just how …

This paper re‐examines the effects of the method of payment and type of offer on target
abnormal returns around the takeover announcement, controlling for the target firm's institutional …

Empirically, bidder returns at the time of takeover announcements are negative. This paper
investigates the relation between bidder returns and overpayment in mergers and tender …

This paper examines the spillover effects of the Mexican financial crisis to emerging financial
markets. As of November 1994, the financial markets were not anticipating a change in …

We examine stock price reactions to securities recommendations by investment firms. We
focus on the market reaction on the date an investment firm issues a research report and the …