All Outputs (3)

Credit rating, post‐earnings‐announcement drift, and arbitrage from transient institutions (2020)
Journal Article
He, G. (2021). Credit rating, post‐earnings‐announcement drift, and arbitrage from transient institutions. Journal of Business Finance and Accounting, 48(7-8), 1434-1467. https://doi.org/10.1111/jbfa.12520

This study first establishes a robust link between credit rating and post‐earnings‐announcement drift (PEAD). I find strong evidence that PEAD is more salient for firms with low credit ratings. This finding is consistent with the notion that investor... Read More about Credit rating, post‐earnings‐announcement drift, and arbitrage from transient institutions.

Do corporate insiders trade on future stock price crash risk? (2020)
Journal Article
He, G., Ren, H., & Taffler, R. (2021). Do corporate insiders trade on future stock price crash risk?. Review of Quantitative Finance and Accounting, 56(4), 1561-1591. https://doi.org/10.1007/s11156-020-00936-3

We explore whether firm managers trade on future stock price crash risk. This depends on managers’ ability to assess future crash risk, and on whether the expected payoff is greater than the expected costs associated with potential reputation loss an... Read More about Do corporate insiders trade on future stock price crash risk?.

The impact of insider trading on analyst coverage and forecasts (2020)
Journal Article
He, G., & Marginson, D. (2020). The impact of insider trading on analyst coverage and forecasts. Accounting Research Journal, 33(3), 499-521. https://doi.org/10.1108/arj-08-2019-0148

Purpose: The purpose of this study is to examine the effect of insider trading on analyst coverage and the properties of analyst earnings forecasts. Given the central role of analysts for information diffusion in stock markets, advancing understandin... Read More about The impact of insider trading on analyst coverage and forecasts.