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How Do Mergers Create Value? A Comparison of Taxes, Market Power, and Efficiency Improvements as Explanations for Synergies
There is little evidence in the literature on the relative importance of the underlying sources of merger gains. Prior literature suggests that synergies could arise due to taxes, market power, orExpand
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  • Open Access
Why are firms unlevered
In this paper, we examine why firms have no debt in their capital structure. We reject the hypothesis that zero-leverage policies are driven by entrenched managers attempting to avoid theExpand
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Do Short Sellers Target Firms with Poor Earnings Quality? Evidence from Earnings Restatements
We study the behavior of short sellers around earnings restatements. We find that short sellers accumulate positions in restating firms several months in advance of the restatement and subsequentlyExpand
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Does Investor Identity Matter in Equity Issues? Evidence from Private Placements
We examine the relation between stock price performance and the identity of the investors buying the shares in private placements of equity. We find that although the shareholders not participatingExpand
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  • Open Access
Do Short Sellers Target Firms with Poor Earnings Quality? Evidence from Earnings Restatements
We study the behavior of short sellers around earnings restatements. We find that short sellers accumulate positions in restating firms several months in advance of the restatement and subsequentlyExpand
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Audit Committee Characteristics and the Perceived Quality of Financial Reporting: An Empirical Analysis
In this paper, we empirically examine the relationship between two audit committee characteristics - the composition (expertise and independence) and size of the audit committee - and the quality ofExpand
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Auditor Reputation, Auditor Independence, and the Stock-Market Impact of Andersen's Indictment on Its Client Firms*
In this paper, we study a broad sample of Andersen clients and investigate whether the decline in Andersen's reputation, due to its criminal indictment on March 14, 2002, adversely impacted theExpand
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Are Share Price Levels Informative? Evidence from the Ownership, Pricing, Turnover, and Performance of IPO Firms
We ask whether a firm's choice of IPO price is informative in the sense that it relates systematically to the firm's other choices and characteristics. We find that both institutional ownership andExpand
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Assessment of symptomatic women for early diagnosis of ovarian cancer: results from the prospective DOvE pilot project.
BACKGROUND Around 90% of deaths from ovarian cancer are due to high-grade serous cancer (HGSC), which is frequently diagnosed at an advanced stage. Several cancer organisations made a jointExpand
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  • Open Access
A First Look at Mutual Funds That Use Short Sales
We provide a first look at short selling by mutual funds, a phenomenon not examined by prior research. Mutual funds that short do so frequently and in significant amounts, averaging about 16% of fundExpand
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