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Three essays on information disclosure.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Three essays on information disclosure./
Author:	Danesh Jafari, Mohammad Erfan.
Description:	1 online resource (139 pages)
Notes:	Source: Dissertation Abstracts International, Volume: 78-08(E), Section: A.
Contained By:	Dissertation Abstracts International78-08A(E).
Subject:	Finance. -
Online resource:	click for full text (PQDT)
ISBN:	9781369669732

Three essays on information disclosure.
Danesh Jafari, Mohammad Erfan.

Three essays on information disclosure. - 1 online resource (139 pages)

Source: Dissertation Abstracts International, Volume: 78-08(E), Section: A.

Thesis (Ph.D.)

Includes bibliographical references

My thesis consists of three chapters and each chapter studies a different aspect of how information is generated and diffused among different market participants. Chapter 1 and 2 study the impact of timing of 13(f) disclosures. Section 13(f) of SEC regulation requires any financial institution with \$100 million or more in assets to disclose its holdings on a quarterly basis within 45 days after the quarter end. Recently, the SEC was petitioned to shorten this 45-day period. In Chapter 1, I develop a model to examine the impacts of a shortened reporting period. Among other results, I demonstrate that a shorter reporting period results in more liquid markets albeit at the expense of reducing price informativeness.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9781369669732Subjects--Topical Terms:

559073
Finance.
Index Terms--Genre/Form:

554714
Electronic books.

Three essays on information disclosure.
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245 1 0 $a Three essays on information disclosure.
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300 $a 1 online resource (139 pages)
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500 $a Source: Dissertation Abstracts International, Volume: 78-08(E), Section: A.
500 $a Adviser: Susan Christoffersen.
502 $a Thesis (Ph.D.) $c University of Toronto (Canada) $d 2016.
504 $a Includes bibliographical references
520 $a My thesis consists of three chapters and each chapter studies a different aspect of how information is generated and diffused among different market participants. Chapter 1 and 2 study the impact of timing of 13(f) disclosures. Section 13(f) of SEC regulation requires any financial institution with \$100 million or more in assets to disclose its holdings on a quarterly basis within 45 days after the quarter end. Recently, the SEC was petitioned to shorten this 45-day period. In Chapter 1, I develop a model to examine the impacts of a shortened reporting period. Among other results, I demonstrate that a shorter reporting period results in more liquid markets albeit at the expense of reducing price informativeness.
520 $a In chapter 2 we look at 14 years of form 13F filings between 1999 and 2012. We demonstrate that active institutions tend to file their holding disclosures with longer delays. We show that concerns about copycat investors do not cause the financial institutions to delay their filings; however, fears of presence of front-runners prompt the financial institutions to file their disclosures with longer delays. We also look at financial institutions' decision to delay around important corporate events for stocks in the institutions' portfolio and document that institutions delay their filings around these events possibly to hide their true voting powers.
520 $a Chapter 3 studies the implications of SFAS No. 14 and SFAS No. 131, which require firms to disclose the existence of sales to individual customers representing more than 10\% of total firm revenues. We document that firms gain visibility by disclosing economic relationships with reputable trading partners. We find that supplier firms enjoy a boost in news coverage and a subsequent reduction in advertising expense when they disclose trading relationships with well-known customer firms. After relationship establishment, supplier firms are more likely to be held by the same institutional investor and covered by the same analyst following their customer firms. Our findings highlight the role of product-market network as an important channel through which small and young firms gain investor recognition and improve their operating environment.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Finance. $3 559073
655 7 $a Electronic books. $2 local $3 554714
690 $a 0508
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710 2 $a University of Toronto (Canada). $b Management. $3 1179118
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