The Vicarious Wisdom of Crowds: Toward a Behavioral Perspective on Investor Reactions to Acquisition Announcements

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Restraining Overconfident CEOs through Improved Governance: Evidence from the Sarbanes-Oxley Act (2015, unknown): “From an empirical stand-point, we are most interested in long-term valuecreation (as compared with short-run market returns) given the evidence that the market can take some time to impound the value-implications of takeovers (Masulis et al., 2013; Schijven and Hitt, 2012).”
Framing Controversial Actions: Regulatory Focus, Source Credibility, and Stock Market Reaction to Poison Pill Adoption (2014, background): “This builds on the arguments of other scholars (e.g., Ozcan & Overby, 2008; Schijven & Hitt, 2012), who have pointed to the need to consider the cognitive process and behavioral mechanism underlying how investors make judgments, which in turn influences stock market reaction to organizational…”
How firms respond to financial restatement : CEO successors and external reactions (2014, background): “…successful reputation restoration ultimately depends on outside perceptions, a firm’s success in signaling its determination to restore its reputation can be most effectively assessed by observing informed outsiders’ reactions to the successor announcement (Rhee & Kim, 2012; Schijven & Hitt, 2012).”