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Author : Shalini Jhalani
Publisher :
ISBN 13 :
Total Pages : 250 pages
Book Rating : 4.:/5 (163 download)
Download or read book Impact of Regulation Fair Disclosure on Corporate Communications with Investors written by Shalini Jhalani and published by . This book was released on 2004 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Publisher :
ISBN 13 :
Total Pages : 172 pages
Book Rating : 4.F/5 ( download)
Download or read book Fair Disclosure Or Flawed Disclosure written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2001 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Armando R. Gomes
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.:/5 (249 download)
Download or read book SEC Regulation Fair Disclosure, Information, and the Cost of Capital written by Armando R. Gomes and published by . This book was released on 2004 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: We empirically investigate the effects of the adoption of Regulation Fair Disclosure ( Reg FD') by the U.S. Securities and Exchange Commission in October 2000. This rule was intended to stop the practice of selective disclosure,' in which companies give material information only to a few analysts and institutional investors prior to disclosing it publicly. We find that the adoption of Reg FD caused a significant reallocation of information-producing resources, resulting in a welfare loss for small firms, which now face a higher cost of capital. The loss of the selective disclosure' channel for information flows could not be compensated for via other information transmission channels. This effect was more pronounced for firms communicating complex information and, consistent with the investor recognition hypothesis, for those losing analyst coverage. Moreover, we find no significant relationship of the different responses with litigation risks and agency costs. Our results suggest that Reg FD had unintended consequences and that information' in financial markets may be more complicated than current finance theory admits.
Author : James Robert Brown
Publisher : Wolters Kluwer
ISBN 13 : 0735501564
Total Pages : 1709 pages
Book Rating : 4.7/5 (355 download)
Download or read book The Regulation of Corporate Disclosure written by James Robert Brown and published by Wolters Kluwer. This book was released on 1999-01-01 with total page 1709 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Regulation of Corporate Disclosure, Third Edition is a complete and up-to-date handbook on the issue of corporate disclosure, covering the impact of the federal securities laws on both informal communications and the process of communicating with shareholders. The Third Edition expands topics previously covered, addressing the legal issues and practical concerns surrounding implementation of the Private Securities Litigation Reform Act of 1995, the Sarbanes-Oxley Act of 2002, and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The book also has an in-depth treatment of managementand’s discussion and analysis (MDand&A), something that, although appearing in required SEC filings, involves many of the same difficult and complex issues raised by the informal disclosure process. Also addressed are: SEC reforms of the periodic reporting process; issues pertaining to stock research analysts and conflicts of interest; and various relevant corporate governance requirements and their disclosure implications. Critical areas analyzed include ;Disclosure requirements and anti-fraud provisions The duty to disclose Dissemination Issues involving materiality Disclosure of bad news Negotiations Dealing with analysts And much more!
Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Publisher :
ISBN 13 :
Total Pages : 166 pages
Book Rating : 4.0/5 ( download)
Download or read book Fair Disclosure Or Flawed Disclosure written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2001 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Anwer S. Ahmed
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book The Impact of Regulation Fair Disclosure on Investors' Prior Information Quality - Evidence from an Analysis of Changes in Trading Volume and Stock Price Reactions to Earnings Announcements written by Anwer S. Ahmed and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We document that Regulation Fair Disclosure has reduced differences in information quality between investors prior to quarterly earnings announcements consistent with the intent of the regulation. This reduction is driven by small firms and high technology firms, rather than the large firms targeted by the SEC, which suggests that selective disclosure among large firms may have been much more limited than what was presumed by proponents of FD. In addition, we document that FD has decreased the average information quality of investors in small and high technology firms in the period prior to an earnings announcement while having no lasting effect on other firms. Taken together these two results suggest that, for small and high technology firms, FD succeeded in eliminating selective disclosure but also lowered the average quality of information available about these firms.
Author : Ted Trautmann
Publisher :
ISBN 13 :
Total Pages : 268 pages
Book Rating : 4.F/5 ( download)
Download or read book Informal Corporate Disclosure Under Federal Securities Law written by Ted Trautmann and published by . This book was released on 2001 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gill North
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041168184
Total Pages : 524 pages
Book Rating : 4.0/5 (411 download)
Download or read book Effective Company Disclosure in the Digital Age written by Gill North and published by Kluwer Law International B.V.. This book was released on 2015-10-16 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: Effective corporate reporting and disclosure are critical in financial markets to promote vigorous competition, optimal performance, and transparency. This book examines whether existing disclosure frameworks in eight countries with the world's most significant securities exchanges achieve these objectives, and then, drawing on extensive empirical findings, identifies the policies and practices that contribute most to improving the overall quality of listed company reporting and communication. Contending that public disclosure of listed company information is an essential precondition to the long-term efficient operation of financial markets, the book provides analysis of such issues and topics as the following: - arguments for and against mandatory disclosure regimes; - key principles of periodic and continuous disclosure regulation; - tensions between direct and indirect investment in financial markets; - assumptions concerning the need to maintain a privileged role for financial intermediaries; - intermediary, analyst, and research incentives; - protection of individual investors; - selective disclosure; - disclosure of bad news; - the role of accounting standards; - public access to company briefings; - long term performance reporting and analysis; and - company reporting developments. A significant portion of the book provides an overview of disclosure regulation and practice in the United States, Canada, Germany, the United Kingdom, Japan, Hong Kong, Australia, and Singapore. A highly informative survey looks at company reports, disclosures, and websites of large listed companies, including Microsoft, Citigroup, Teck Resources, Deutsche Bank, BP, Sony, PetroChina Company, BHP Billiton, and Singapore Telecommunications. The book discusses common disclosure issues that arise across jurisdictions, provides valuable insights on the efficacy of existing disclosure regulation and practice, and highlights the important principles, processes, and practices that underpin best practice company disclosure frameworks. It will be welcomed by company boards and executives and their counsel, as well as by policymakers and scholars in the areas of corporate, securities, banking and financial law, accounting, economics and finance.
Author : James Hamilton
Publisher : Aspen Publishers
ISBN 13 : 9780808036890
Total Pages : 296 pages
Book Rating : 4.0/5 (368 download)
Download or read book Informal Corporate Disclosure Under Federal Securities Law (2013 Edition) written by James Hamilton and published by Aspen Publishers. This book was released on 2013-07-29 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mitigate your reputation risk by assuring disclosures for corporate communication vehicles such as press releases, speeches, analyst conference calls, webcasts, websites, blogs and investor roadshows adhere to appropriate standards of practice. Written by Wolters Kluwer attorney-editors Jim Hamilton, Anne Sherry and Doreen Meinck, Informal Corporate Disclosure Under Federal Securities Law, 2013 Edition examines the regulation of these types of informal disclosures - as distinguished from formal, highly structured disclosure in SEC filings. Coverage includes discussion of federal securities law, rules and court decisions; self-regulatory organization rules for listed companies, and standards of practice prescribed by the National Investor Relations Institute (NIRI). The 2013 Edition of Informal Corporate Disclosure Under Federal Securities Law incorporates the latest NIRI standards of practice on disclosure and is a must-have resource given the NIRI's 2012 revision supersedes the previous standards of practice issued in 2004. It addresses SEC guidance on website disclosure, recommended standards for corporate communications on blogs and social media, and recent case law. In addition to incorporating these standards of practice, the 2013 Edition includes: Analysis of the SEC's recent guidance on cybersecurity Discussion of the test-the-waters communications permitted for emerging growth companies pursuant to the JOBS Act Review of recent SEC enforcement actions with respect to Regulation FD
Author : James Robert Brown
Publisher : Aspen Publishers
ISBN 13 : 9781567061604
Total Pages : 0 pages
Book Rating : 4.0/5 (616 download)
Download or read book The Regulation of Corporate Disclosure written by James Robert Brown and published by Aspen Publishers. This book was released on 1995 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a complete & up-to-date handbook on the issue of corporate disclosure, covering the impact of the federal securities laws on both informal communications & the process of communicating with shareholders. It includes a new discussion of the "Bespeaks Caution" doctrine, updated coverage of the materiality of government investigations & undisclosed illegal behavior, & cutting-edge analysis of the latest trends, such as electronic communications, SEC reforms, & MD & A requirements. Critical areas analyzed include: Disclosure requirements & anti-fraud provisions The duty to disclose Dissemination Issues involving materiality Disclosure of bad news Negotiations Dealing with analysts Projects & appraisals Stock repurchases Sensitive disclosure periods State disclosure obligations Corporate communication policies Shareholder communications The summary annual report Communicating with beneficial owner Dealing with analysts Communication & dissemination of information over the Internet And more.
Author : Chiraphol N. Chiyachantana
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Impact of Regulation Fair Disclosure on Information Asymmetry and Trading written by Chiraphol N. Chiyachantana and published by . This book was released on 2013 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the impact of Regulation Fair Disclosure (FD) on liquidity, information asymmetry, and institutional and retail investors trading behavior. Our main findings suggest three conclusions. First, Regulation FD has been effective in improving liquidity and in decreasing the level of information asymmetry. Second, retail trading activity increases dramatically after earnings announcements, but there is a significant decline in institutional trading surrounding earnings announcements, particularly in the pre-announcement period. Last, the decline in information asymmetry around earnings announcements is closely associated with a lower participation rate in the pre-announcement period and more active trading of retail investors after earnings releases.
Author :
Publisher : Practising Law Institute
ISBN 13 : 9781402405198
Total Pages : 352 pages
Book Rating : 4.4/5 (51 download)
Download or read book Communications with the Market, Analysts & Investors written by and published by Practising Law Institute. This book was released on 2004 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Paul A Argenti
Publisher : McGraw Hill
ISBN 13 : 0077172035
Total Pages : 329 pages
Book Rating : 4.0/5 (771 download)
Download or read book Ebook: Corporate Communication written by Paul A Argenti and published by McGraw Hill. This book was released on 2014-10-16 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Communication, 6th Edition shows readers the importance of creating a coordinated corporate communication system, and describes how organizations benefit from important strategies and tools to stay ahead of the competition. Throughout the book, cases and examples of company situations relate to the chapter material. These cases provide readers with the opportunity to participate in real decisions that managers had to make on a variety of real problems.
Author : Marcia W. DiStaso
Publisher : Business Expert Press
ISBN 13 : 1947098985
Total Pages : 196 pages
Book Rating : 4.9/5 (47 download)
Download or read book A Communication Guide for Investor Relations in an Age of Activism written by Marcia W. DiStaso and published by Business Expert Press. This book was released on 2017-10-17 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today's competitive corporate environment and the increased expectations of speed in communication make it critical for companies to develop strategic programs for communicating with investors. This book provides an executive overview of the field of investor relations with a focus on what investor relations officers need to know to be successful. Readers will learn the essentials of communicating with investors, the stock market, governance, reputation, and more. With the rise of activist investors, investor relations officers serve as guardians of one of a company's most important assets-its reputation. This book serves as a guide to understanding the history of investor relations and how it has evolved in the age of activist investors. Included are discussions about managing an investor relations program, assessing reputations and how to measure the impact of investor relations efforts. By the end of the book, you will understand the strategic role of investor relations and how activism impacts corporate storytelling, risk, crisis, events, and analyst relations.
Download or read book ABA Journal written by and published by . This book was released on 2001-04 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ABA Journal serves the legal profession. Qualified recipients are lawyers and judges, law students, law librarians and associate members of the American Bar Association.
Author : Brian J. Bushee
Publisher :
ISBN 13 :
Total Pages : 43 pages
Book Rating : 4.:/5 (129 download)
Download or read book Managerial and Investor Responses to Disclosure Regulation written by Brian J. Bushee and published by . This book was released on 2011 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the effect of regulation that mandates open access to information on managers' disclosure choices and investors' reactions to disclosures. The recently passed Regulation FD (Reg FD) requires firms to make material disclosures broadly available. Using a sample of firms that previously restricted access to conference calls and a sample of firms that voluntarily allowed unlimited access to their calls in the pre-Reg FD period, we examine the effect of the new rule on managers' decisions regarding the timing, use, and information content of calls, as well as the effect on investors' trading behavior during the call. Our results indicate that Reg FD had a significant negative impact on managers' decisions to continue hosting conference calls and on their decisions regarding the optimal time to hold the call. However, contrary to the concerns of many critics, the magnitudes of these changes are not large. We do not find evidence that Reg FD decreased the amount of information disclosed during the call period, contrary to the concerns of Reg FD opponents. Finally, we find evidence that the new rule increased price volatility for firms that previously restricted access to their calls (relative to firms that previously held open calls) and that the amount of individual investor trading increased following the rule change. Overall, our results suggest that Reg FD impacted trading during the conference call window for firms most affected by the new regulation.
Author : Anna Danielewicz-Betz
Publisher : Springer
ISBN 13 : 113755813X
Total Pages : 418 pages
Book Rating : 4.1/5 (375 download)
Download or read book Communicating in Digital Age Corporations written by Anna Danielewicz-Betz and published by Springer. This book was released on 2016-11-23 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: The distinctive point of the book is its innovative interdisciplinary approach to business communication, with interconnections between linguistics, sociology, and critical organisational studies as applied to the corporate world. It offers a first-hand insight into primary business discourse with a deeper understanding and analysis of business processes and mechanisms underlying and reflected in enterprise software-mediated communication. It answers the question what ‘doing business’ in the digital age is about and illustrates ‘business discourse’ from practitioners’ point of view. Grounded in the analysis of empirical data, pertaining both to internal and external business communication, the author reflects on the reality of accelerated and pressurised communication in global IT corporations. Following a communication-centred approach, this monograph puts the topic of enterprise software-mediated business discourse into a multi-layered perspective of how global corporations operate, what their primary goals are, and what kind of (political) power they execute. Moreover, it demonstrates how profit-driven corporations can be viewed and interpreted as strategically acting systems within a specific sociological framework.
