We examine whether media news reflect the extent to which issuing firms manage their earnings prior to their equity carve-outs (ECOs). We posit that managers will strategically respond to media requests prior to their equity offerings in order to signal their type and differentiate themselves...

We examine the role played by the parent's motive in undertaking a carve-out; parent's post-IPO influence over the carved-out subsidiary; and anti-takeover provisions and industry structure of a carve-out on its acquisition likelihood and its acquisition premium. We find that the probability and...

We examine the consequences of untimely filings of forms 10-K and 10-Q in the bond market. Using publicly traded bond data covering the period from January 2000 to December 2012, we find that the bond market reacts negatively to late filing announcements of 10-Ks and 10-Qs. We also find that the...

Event studies are widely used in finance research to investigate the implications of announcements of corporate initiatives, regulatory changes, or macroeconomic shocks on stock prices. These studies are often used in a single country setting (usually the U.S.), but little work has yet been...