Should Insider Trading be Prohibited when Share Repurchases are Allowed?

Informational Interaction of Insider Trading and Share Repurchases: A Theoretical and Empirical Analysis

We theoretically and empirically explore the interaction between repurchases and insider trading as signaling devices about private information on firm valuation. Our theory predicts that repurchases, when coupled with insider buying, further the signal of firm undervaluation; insider selling signals the opposite. We find that for the following quarter, repurchases generate 1.2% abnormal return...

Supervisors Should Be More Vigilant When Their Students Are Writing an Article

در سخن سردبیری شماره مردادماه سال 1394 مجله دانشگاه، به ضرورت چاپ مقاله از پایان­نامه­های مقاطع مختلف تحصیلی اشاره کردیم و در همان جا، از اساتید راهنما درخواست کردیم که به جهت پرهیز از رویداد هرگونه تخلف پژوهشی توسط دانشجویان، نقش فعال­تری را در این زمینه ایفاء نمایند [1]. هم­چنین و پیش از آن، در  سخن سردبیری شماره بهمن و اسفندماه سال 1391 مجله دانشگاه، درخواست نموده بودیم که دانشجویان نقش فعال...

When should patients be allowed to drive after ICD implantation?

Should the patient be allowed to die?

In considering the patient's right to a certain quality of dying, this essay outlines how the legal and ethical justifications for passive euthanasia depend on the doctrine of acts and omissions. It is suggested that this doctrine is untenable and that alternative justifications are needed. The development of the modern mechanistic approach to death is traced, showing that a possible basis for ...

Share Repurchases and Employee Compensation

This paper focuses on the agency problem derived from the con‡ict of interest between employees and shareholders. I show that if employees are compensated with restricted stock or stock options, shareholders may engage in opportunistic share repurchases. Equityholders have an incentive to buy back stock after employment contracts have been signed because repurchases increase compensation sensit...