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Study on institutional investors and...

Washington University in St. Louis.

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Study on institutional investors and accounting issues.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Study on institutional investors and accounting issues./
作者:	Wang, Juan.
面頁冊數:	144 p.
附註:	Advisers: Ronald R. King; Richard Frankel.
Contained By:	Dissertation Abstracts International68-06A.
標題:	Business Administration, Accounting. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3268100
ISBN:	9780549071075

Study on institutional investors and accounting issues.
Wang, Juan.

Study on institutional investors and accounting issues. - 144 p.

Advisers: Ronald R. King; Richard Frankel.

Thesis (Ph.D.)--Washington University in St. Louis, 2007.

My papers study institutional investors and accounting issues. I focus on institutional investors and examine three institutions related accounting issues respectively. First, I examine institutional investors' response to insider trade following earnings announcements. Second, I investigate the association between institutional investors, firm performance, and CEO compensation and CEO job security. Finally, I investigate the relation between institutions and accounting restatements which is co-authored.

ISBN: 9780549071075Subjects--Topical Terms:

1020666
Business Administration, Accounting.

Study on institutional investors and accounting issues.
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020 $a 9780549071075
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100 1 $a Wang, Juan. $3 1021014
245 1 0 $a Study on institutional investors and accounting issues.
300 $a 144 p.
500 $a Advisers: Ronald R. King; Richard Frankel.
500 $a Source: Dissertation Abstracts International, Volume: 68-06, Section: A, page: 2536.
502 $a Thesis (Ph.D.)--Washington University in St. Louis, 2007.
520 $a My papers study institutional investors and accounting issues. I focus on institutional investors and examine three institutions related accounting issues respectively. First, I examine institutional investors' response to insider trade following earnings announcements. Second, I investigate the association between institutional investors, firm performance, and CEO compensation and CEO job security. Finally, I investigate the relation between institutions and accounting restatements which is co-authored.
520 $a The first essay examines how institutional investors respond to insider trade in addition to accounting information. I show that transient institutions reduce holdings in the following quarters when insiders are net sellers following earnings announcements. I show that transient institutions significantly reduce more holdings when insiders are net sellers and firms also meet or beat analyst forecasts. Finally, I show that insider trade profits in terms of future abnormal returns are lower when transient institutional holdings are higher. Overall, these findings provide evidence on the ability of institutional investors to process insider trade information in addition to accounting numbers.
520 $a The second essay provides economic incentives in terms of CEO cash compensation and CEO career concerns respectively that motivate managers to care about short-term earnings when transient institutional holdings are high. I find a significant incremental reduction in the CEO's cash pay when the firm's quarterly earnings fall short of consensus analyst expectations with high transient institutional ownership. I find a significant incremental increase on the CEO's turnover likelihood when the firm's quarterly earnings fall short of consensus analyst expectations with high transient institutional ownership.
520 $a The study on institutional investors and accounting restatements (co-authored) investigates the role that institutional investors play in the market's reaction to accounting restatements. We show that transient institutional investors significantly reduce their holdings in a restating firm at least one quarter prior to the quarter of the restatement. We demonstrate that the market reaction to accounting restatements for firms with high levels of transient institutional ownership is more negative in the period prior to the announcement and less negative at the announcement date.
590 $a School code: 0252.
650 4 $a Business Administration, Accounting. $3 1020666
690 $a 0272
710 2 $a Washington University in St. Louis. $3 1017519
773 0 $t Dissertation Abstracts International $g 68-06A.
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790 1 0 $a Frankel, Richard, $e advisor
790 1 0 $a King, Ronald R., $e advisor
791 $a Ph.D.
792 $a 2007
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3268100