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Informed trading before analyst downgrades: Evidence from short sellers
This paper studies short-selling prior to the release of analyst downgrades in a sample of 670 downgrades of Nasdaq stocks between 2000 and 2001. We find abnormal levels of short-selling in the threeExpand
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A Theory of Merger-Driven IPOs
We propose a model that links a firm’s decision to go public with its subsequent takeover strategy. A private bidder does not know its true valuation, which affects its gain from a potentialExpand
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Determinants and Implications of Arbitrage Holdings in Acquisitions
This study investigates arbitrage activities and their impact on acquisitions. The literature contains arguments for both passive and active roles of arbitrageurs during the takeover process. LarckerExpand
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Insiders' Tax Preferences and Firms' Choices between Dividends and Share Repurchases
This paper investigates whether corporate payout policy is associated with insiders' share holdings and their tax preferences. We find that insider ownership and the implied tax liabilities areExpand
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Shareholder Voting Rights in Mergers and Acquisitions
This paper studies the determinants and the role of shareholder voting rights in mergers and acquisitions. Comparing deals with acquirer shareh older voting rights with those without from 1990 toExpand
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Future directions in CT technology.
Progress in helical CT acquisition and processing over the last 5 years has lead to new applications and new requirements. Recent progress to meet these requirements is discussed in this article. TheExpand
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The Importance of Blockholder Heterogeneity: Security Market Effects and Follow-on Activities
Recent research on blockholders focuses on activist hedge funds and documents positive stock but negative bond returns. This study investigates the role of blockholder heterogeneity on securityExpand
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The History and Performance of Concept Stocks
We analyze the history and performance of concept stocks, defined as stocks whose current valuation appears out of line with tradition valuation metrics. Although the obvious current example isExpand
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How Informative are Analyst Recommendations and Insider Trades
This study jointly evaluates the informativeness of insider trades and analyst recommendations. We show that the two activities often generate contradictory signals. Insiders in aggregate buy moreExpand
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Short Selling and Cross-Section of Corporate Bond Returns
This paper examines the relationship between short selling in the equity market and corporate bond returns. We show that both shorting activity and size of short trades are inversely correlated withExpand
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