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Susan Crain
Southern Illinois University Edwardsville
Non-conforming loanFinancial instrumentPrincipal–agent problemMoral hazardLoan guarantee
1Publications
1H-index
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Publications 3
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#1Rakesh BharatiH-Index: 4
#2Susan CrainH-Index: 1
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The purpose of this paper is to examine whether the investor reaction to 10-K filings has changed since the implementation of Regulation Full Disclosure (FD) and the Sarbanes–Oxley Act (SOX) and examine whether the market still underreacts to 10-K content and exhibits the continuation of filing day returns (FDRs) documented by You and Zhang (2009) after the passage of these regulations.,The sample consists of 39,270 10-K filings over the sample period of 1996 to 2012. Performance of portfolios c...
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Introduction After events have occurred, stock returns show a decisive pattern of continuation in semi-annual and annual holding periods while there is evidence of reversal over three to five years. (1) Over a weekly horizon, Lehmann (1990) demonstrates contrarian profits, but subsequent studies attribute his profits to cross-autocorrelation in large and small stocks and bid-ask bounce [e.g., Lo and MacKinlay (1990); Conrad, Gultekin, and Kaul (1997)]. Conditioning on volume, Campbell, Grossman ...
3 Citations
#1Jacky C. So (Pepperdine University)H-Index: 1
#2Rakesh Bharati (SIUE: Southern Illinois University Edwardsville)H-Index: 4
Last. Susan Crain (SIUE: Southern Illinois University Edwardsville)H-Index: 1
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We examine the relationship between the small business loan guarantee and the agency problem of small firms. We then recommend financial instruments or financial contracts that can minimize of eliminate the moral hazard problem.
1 Citations
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