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Full-Text Articles in Law
Digital Surveillance And Preventive Policing, Manuel A. Utset
Digital Surveillance And Preventive Policing, Manuel A. Utset
Scholarly Publications
No abstract provided.
Is An American Value Added Tax Inevitable?, Steve R. Johnson
Is An American Value Added Tax Inevitable?, Steve R. Johnson
Scholarly Publications
No abstract provided.
Fraudulent Corporate Signals: Conduct As Securities Fraud, Manuel A. Utset
Fraudulent Corporate Signals: Conduct As Securities Fraud, Manuel A. Utset
Scholarly Publications
Paying a dividend, repurchasing shares, underpricing an initial public offering, pledging collateral, and borrowing using short-term, instead of long-term debt, are all forms of corporate communications. They are “corporate signals” that tell investors certain things about a company’s operations and current financial position, and about the managers’ confidence in its future performance. This Article provides the first comprehensive analysis of the relationship between corporate signals and securities fraud. The incentive to communicate using corporate signals has increased in recent years, a phenomenon that, I argue, is due to the grow-ing complexity of public corporations, and, importantly, to a number of …