This paper examines short‐sales transactions in the five days prior to earnings announcements
of 913 Nasdaq‐listed firms. The tests provide evidence of informed trading in pre‐…

This paper studies short-selling prior to the release of analyst downgrades in a sample of 670
downgrades of Nasdaq stocks between 2000 and 2001. We find abnormal levels of short-…

This article examines the value of international operations to the US multinational corporation
during a period of exchange rate volatility and uncertainty. Rather than enhancing firm …

We examine the frequency of short selling in stocks listed in the Nasdaq market. Using
previously unavailable transaction data, we can report several findings: (1) overall, 1 of every 42 …

Initial public offering (IPO) lockup agreements prevent insider sale of shares for specified
periods of time (often 180 days). This study investigates share price reactions at and around …

This study examines the relationship between a firm's degree of internationalization (DOI)
and market value. Our objectives are to provide future researchers with more confidence and …

We investigate how international operations affected firm value during the early 1990s. We
also investigate whether the disclosures of foreign operations in specific geographic regions …

This study examines whether the stock return associated with changes in domestic and
foreign earnings varies depending upon the sign of the change. Evidence is presented that …

We examine daily short selling of Nasdaq stocks to explore whether speculative short selling
causes a significant portion of the weekend effect in returns. We identify a weekend effect in …

It is interesting to look at the daily association between market-adjusted returns of Nasdaq
stocks and the percentages of trading volume attributable to dealers and to their speculator …