Block trading and information revelation around quarterly earnings announcements |
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| Authors: | Seppi DJ |
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| Affiliation: | Graduate School of Industrial Administration, Carnegie Mellon University, Pittsburgh, PA 15213, USA |
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| Abstract: | I investigate the empirical importance of information revelationin the pricing of block trades. In particular, I examine whetherblock prices are correlated with the unexpected part of firms'quarterly earnings. For my sample of block trades, informationrevelation does indeed appear to be a significant factor shortlybefore earnings announcements. |
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