To make high-quality research more accessible and easier to explore.

Fields:
30 results ✕ Clear filters

A Comment on Excess Asset Reversions and Shareholder Wealth

Norman H Moore; Stephen W. Pruitt
Journal of Finance 1990 45(5), 1709-1714
This study re‐examines the earlier finding of Alderson and Chen (1986a) that financial markets do not consider excess pension assets in determining share prices and that significant increases in shareholder wealth occur when an overfunded pension plan is terminated. The results document that specific event‐time contamination (corporate restructuring announcements) provides the driving force for all the earlier findings.

Shelf Registrations and Shareholder Wealth: A Comparison of Shelf and Traditional Equity Offerings

Norman H Moore; David R. Peterson; Pamela P. Peterson
Journal of Finance 1986 41(2), 451-463
This study examines the effect of issuing common stock on shareholder wealth under two alternative methods of registration, shelf registration under the Securities and Exchange Commission's Rule 415 and the traditional method of registering shares for immediate sale. The stock price reactions accompanying security registrations and offerings over the period from March 1982 through November 1983 are examined for over two hundred issues. A negative price reaction is observed for traditional and shelf registrations for both utility and non‐utility issuers. No statistically significant difference is observed between shelf and traditional registrations. Further negative price reactions precede the offerings of these securities.

Nonstandard Errors

Albert J. Menkveld; Anna Dreber; Felix Holzmeister; Jürgen Huber; Magnus Johannesson; Michael Kirchler; SEBASTIAN NEUSÜß; Michael Razen; Utz Weitzel; DAVID ABAD-DÍAZ; Menachem Abudy; Tobias Adrian; Yacine Aït-Sahalia; Olivier Akmansoy; Jamie Alcock; Vitali Alexeev; Arash Aloosh; LIVIA AMATO; Diego Amaya; James J. Angel; ALEJANDRO T. AVETIKIAN; AMADEUS BACH; EDWIN BAIDOO; GAETAN BAKALLI; LI BAO; Andrea Barbon; OKSANA BASHCHENKO; Parampreet Christopher Bindra; Geir Høidal Bjønnes; Jeffrey R. Black; Bernard S. Black; DIMITAR BOGOEV; SANTIAGO BOHORQUEZ CORREA; Oleg Bondarenko; CHARLES S. BOS; Ciril Bosch-Rosa; ELIE BOURI; Christian T. Brownlees; ANNA CALAMIA; Viet Nga Cao; Gunther Capelle-Blancard; LAURA M. CAPERA ROMERO; Massimiliano Caporin; Allen Carrion; TOLGA CASKURLU; Bidisha Chakrabarty; Jian Chen; Mikhail Chernov; WILLIAM CHEUNG; LUDWIG B. CHINCARINI; Tarun Chordia; SHEUNG-CHI CHOW; BENJAMIN CLAPHAM; Jean-Edouard Colliard; Carole Comerton-Forde; EDWARD CURRAN; THONG DAO; WALE DARE; Ryan J. Davies; RICCARDO DE BLASIS; GIANLUCA F. DE NARD; Fany Declerck; OLEG DEEV; Hans Degryse; SOLOMON Y. DEKU; CHRISTOPHE DESAGRE; Mathijs A. van Dijk; Chukwuma Dim; Thomas Dimpfl; YUN JIANG DONG; PHILIP A. DRUMMOND; Tom L. Dudda; TEODOR DUEVSKI; Ariadna Dumitrescu; Teodor Dyakov; Anne Haubo Dyhrberg; Michał Dzieliński; ASLI EKSI; Izidin El Kalak; Saskia ter Ellen; Nicolas Eugster; Martin D. D. Evans; Michael Farrell; ESTER FELEZ-VINAS; Gerardo Ferrara; EL MEHDI FERROUHI; Andrea Flori; JONATHAN T. FLUHARTY-JAIDEE; Sean Foley; Kingsley Y. L. Fong; Thierry Foucault; TATIANA FRANUS; Francesco A. Franzoni; Bart Frijns; MICHAEL FRÖMMEL; SERVANNA M. FU; Sascha Füllbrunn; BAOQING GAN; GE GAO; Thomas Gehrig; ROLAND GEMAYEL; DIRK GERRITSEN; Javier Gil-Bazo; Dudley Gilder; Lawrence R. Glosten; THOMAS GOMEZ; Arseny Gorbenko; Joachim Grammig; Vincent Grégoire; Ufuk Güçbilmez; Björn Hagströmer; JULIEN HAMBUCKERS; ERIK HAPNES; Jeffrey H. Harris; Lawrence Harris; SIMON HARTMANN; JEAN-BAPTISTE HASSE; Nikolaus Hautsch; XUE-ZHONG (TONY) HE; Davidson Heath; SIMON HEDIGER; Terrence Hendershott; Ann Marie Hibbert; Erik Hjalmarsson; Seth A. Hoelscher; Peter Hoffmann; Craig W. Holden; Alex R. Horenstein; Wenqian Huang; DA HUANG; Christophe Hurlin; KONRAD ILCZUK; ALEXEY IVASHCHENKO; Subramanian R. Iyer; Hossein Jahanshahloo; NAJI JALKH; Charles M. Jones; SIMON JURKATIS; Petri Jylhä; ANDREAS T. KAECK; GABRIEL KAISER; ARZÉ KARAM; Egle Karmaziene; BERNHARD KASSNER; Markku Kaustia; EKATERINA KAZAK; Fearghal Kearney; Vincent van Kervel; SAAD A. KHAN; MARTA K. KHOMYN; Tony Klein; OLGA KLEIN; Alexander Klos; Michael Koetter; Aleksey Kolokolov; Robert A. Korajczyk; Roman Kozhan; Jan P. Krahnen; PAUL KUHLE; Amy Kwan; QUENTIN LAJAUNIE; F. Y. Eric C. Lam; Marie Lambert; Hugues Langlois; JENS LAUSEN; Tobias Lauter; Markus Leippold; VLADIMIR LEVIN; YIJIE LI; HUI LI; CHEE YOONG LIEW; THOMAS LINDNER; Oliver Linton; JIACHENG LIU; Anqi Liu; Guillermo Llorente; Matthijs Lof; ARIEL LOHR; FRANCIS LONGSTAFF; Alejandro Lopez-Lira; Shawn Mankad; NICOLA MANO; ALEXIS MARCHAL; Charles Martineau; Francesco Mazzola; Debrah Meloso; MICHAEL G. MI; Roxana Mihet; Vijay Mohan; Sophie Moinas; DAVID MOORE; Liangyi Mu; Dmitriy Muravyev; Dermot Murphy; GABOR NESZVEDA; CHRISTIAN NEUMEIER; Ulf Nielsson; Mahendrarajah Nimalendran; Sven Nolte; LARS L. NORDEN; Peter O’Neill; Khaled Obaid; BERNT A. ØDEGAARD; Per Östberg; EMILIANO PAGNOTTA; Marcus Painter; Stefan Palan; IMON J. PALIT; Andreas Park; Roberto Pascual; Paolo Pasquariello; Ľuboš Pástor; VINAY PA℡; Andrew J. Patton; Neil D. Pearson; Loriana Pelizzon; MICHELE PELLI; Matthias Pelster; Christophe Pérignon; CAMERON PFIFFER; Richard Philip; TOMÁŠ PLÍHAL; PUNEET PRAKASH; OLIVER-ALEXANDER PRESS; TINA PRODROMOU; Marcel Prokopczuk; Talis Putnins; YA QIAN; GAURAV RAIZADA; David Rakowski; Angelo Ranaldo; Luca Regis; Stefan Reitz; Thomas Renault; REX W. RENJIE; Roberto Renò; Steven J. Riddiough; Kalle Rinne; PAUL RINTAMÄKI; Ryan Riordan; THOMAS RITTMANNSBERGER; IÑAKI RODRÍGUEZ LONGARELA; Dominik Roesch; LAVINIA ROGNONE; Brian Roseman; Ioanid Roşu; Saurabh Roy; NICOLAS RUDOLF; STEPHEN R. RUSH; Khaladdin Rzayev; ALEKSANDRA A. RZEŹNIK; Anthony Sanford; Harikumar Sankaran; Asani Sarkar; Lucio Sarno; Olivier Scaillet; STEFAN SCHARNOWSKI; KLAUS R. SCHENK-HOPPÉ; ANDREA SCHERTLER; MICHAEL SCHNEIDER; FLORIAN SCHROEDER; Norman Schürhoff; Philipp Schuster; MARCO A. SCHWARZ; Mark S. Seasholes; Norman J. Seeger; Or Shachar; Andriy Shkilko; JESSICA SHUI; MARIO SIKIC; Giorgia Simion; Lee A. Smales; Paul Söderlind; Elvira Sojli; Konstantin Sokolov; JANTJE SÖNKSEN; Laima Spokeviciute; Denitsa Stefanova; Marti G. Subrahmanyam; BARNABAS SZASZI; Oleksandr Talavera; Yuehua Tang; Nick Taylor; Wing Wah Tham; Erik Theissen; Julian Thimme; Ian Tonks; Hai Tran; Luca Trapin; Anders B. Trolle; M. ANDREEA VADUVA; Giorgio Valente; Robert A. Van Ness; Aurelio Vasquez; Thanos Verousis; Patrick Verwijmeren; ANDERS VILHELMSSON; Grigory Vilkov; Vladimir Vladimirov; SEBASTIAN VOGEL; Stefan Voigt; Wolf Wagner; THOMAS WALTHER; Patrick Weiss; Michel van der Wel; Ingrid M. Werner; P. Joakim Westerholm; Christian Westheide; HANS C. WIKA; Evert Wipplinger; Michael Wolf; Christian C. P. Wolff; LEONARD WOLK; WING-KEUNG WONG; Jan Wrampelmeyer; Zhen-Xing Wu; Shuo Xia; Dacheng Xiu; KE XU; CAIHONG XU; Pradeep K. Yadav; JOSÉ YAGÜE; Cheng Yan; Antti Yang; Woongsun Yoo; WENJIA YU; YIHE YU; Shihao Yu; Bart Z. Yueshen; Darya Yuferova; MARCIN ZAMOJSKI; Abalfazl Zareei; STEFAN M. ZEISBERGER; LU ZHANG; S. Sarah Zhang; Xiaoyu Zhang; LU ZHAO; Zhuo Zhong; Z. IVY ZHOU; CHEN ZHOU; XINGYU S. ZHU; Marius Zoican; REMCO ZWINKELS
Journal of Finance 2024 79(3), 2339-2390 open access
In statistics, samples are drawn from a population in a data‐generating process (DGP). Standard errors measure the uncertainty in estimates of population parameters. In science, evidence is generated to test hypotheses in an evidence‐generating process (EGP). We claim that EGP variation across researchers adds uncertainty—nonstandard errors (NSEs). We study NSEs by letting 164 teams test the same hypotheses on the same data. NSEs turn out to be sizable, but smaller for more reproducible or higher rated research. Adding peer‐review stages reduces NSEs. We further find that this type of uncertainty is underestimated by participants.