Suchergebnisse

1.Japanese ophthalmology: medical studies of eye conditions --2.Eye medicines: the popular culture of cure --3.The blind guild: status and power --4.Nonmembership and the challenge of authority --5.Texts and performances: the significance of one blind musician's career --6.Healing by touch: blind acupuncturists and masseurs --Epilogue.Onward to the Meiji Period.

AbstractWe examine the market reaction to recommendations in the Financial Post's "Hot Stock" column. For buy recommendations, we find a significant average excess return of 1.23% on the publication day; the average excess return is greater (1.84%) for small firms. We also document a significant increase in trading volume and in stock price volatility on and immediately prior to the publication day. Finally, we detect a pattern of return reversal within 14 trading days after the publication. Volume and volatility subside to normal levels within the period of time in which reversals occur. We interpret our results as evidence of trading on second‐hand public information.RésuméNous examinons la réaction du marché boursier aux recommandations de la rubrique « Hot Stock » du Financial Post. Dans le cas des recommandations « buy » (acheter), nous trouvons un rendement excédentaire moyen significatif de 1,23 % le jour de la publication; le rendement excédentaire moyen est plus élevé (1,84 %) pour les petites firmes. Nous trouvons également une augmentation importante du volume de transactions ainsi qu'une hausse importante de la volatilité du prix des actions et ce, lors de la journée de la publication et immédiatement avant celle‐ci. Finalement, nous détectons un scénario de renversement du rendement dans les 14 jours ouverts suivant la publication. Le volume et la volatilité excédentaires retournent à des niveaux normaux pendant cette période. Nous interprétons nos résultats comme étant une preuve de l'existence de transactions sur la base d'information publique de seconde main.

Frontmatter -- Contents -- Introduction -- Part I: Framework -- CHAPTER ONE. What Is Good Corporate Governance? -- PART II. The Elements of Good Corporate Governance: Law -- CHAPTER TWO. Patterns of Legal Change: Shareholder and Creditor Rights in Transition Economies -- CHAPTER THREE. The Common Law and Economic Growth: Hayek Might Be Right -- PART III. The Elements of Good Corporate Governance: Owners and Managers -- CHAPTER FOUR. Russian Privatization and Corporate Governance: What Went Wrong? -- CHAPTER FIVE. Why Ownership Matters: Entrepreneurship and the Restructuring of Enterprises in Central Europe -- PART IV. The Elements of Good Corporate Governance: Stock Markets -- CHAPTER SIX/ Corporate Governance in Transitional Economies: Lessons from the Prewar Japanese Cotton Textile Industry -- CHAPTER SEVEN. Privatization and Corporate Governance: The Lessons from Securities Market Failure -- CHAPTER EIGHT. The Information Content of Stock Markets: Why Do Emerging Markets Have Synchronous Stock Price Movements? -- PART V. What Does Transition Contribute to Theory? -- CHAPTER NINE. Conclusion: The Unexplored Role of Initial Conditions -- List of Contributors -- Index