Fayez A. Elayan

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Backdating occurs when a company retroactively changes option grant dates to dates when its stock was trading at a relatively low price. Firm announcements of backdating have lead to adverse publicity from the media and negative pronouncements from academics regarding the economic effects and motivation of those involved. This research finds that backdating(More)
Ankle sprains are common acute soft-tissue injuries. This 7-day open-label, multicentre, randomized study compared the efficacy and safety of celecoxib with non-selective non-steroidal anti-inflammatory drugs (NSAIDs) in treating acute ankle sprain with moderate-to-severe ankle pain in 278 patients. Patients received either celecoxib (400 mg loading dose(More)
Studies have shown that when two information providers or outside auditors exist, the value provided by the second one will be decreased by the actions of the first. Capitalizing on the highly similar functions performed by banks and rating agencies, this paper examines the informational value of the credit ratings of bank loans. Further, it provides(More)
In this study we investigate the impact of government contract award announcements on the market value of award-winning firms using a sample of 1963 government contracting announcements over the period 1990 to 2000. We explore the following questions: What is the aggregate stock market impact on firms engaging in government contracting? How do the returns(More)
We examine the stock market reaction to 1227 inter-corporate ordinary business contract announcements reported by Dow Jones between January 1, 1990 and December 31, 2001. Around contract announcement dates, we find statistically significant positive average abnormal returns and abnormal trading volume for contractors, but insignificant positive abnormal(More)
We examine the stock market reaction to inter-corporate (984 contractors and 575 contractees) and corporate-government (1963 contractors) contract announcements reported by Dow Jones between January 1, 1990 and December 31, 2000. Around contract announcement dates, we find statistically significant positive average abnormal return for contractors, but(More)
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