A NEW study has found significant evidence that hedge funds benefit from information they obtain in private meetings with company executives, adding to mounting research suggesting that selective access to management undermines regulators’ fair disclosure objectives. The study’s authors, David H. Solomon, University of Southern California and Eugene F. Soltes, Harvard Business School, found that [...]
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For publicly listed companies, transparency is not an option — it is an obligation. by Neil Hershberg, Senior Vice President, Global Media The European Commission said as much when it implemented its harmonized pan-European disclosure standards for the 27-member European Union in January 2007. The compliance guidelines were aptly titled: the Transparency Obligations Directive ["TOD"]. Therefore, the European [...]
NASDAQ as a self regulatroy organization (SRO) is proving to be an oxymoron.
WITH financial data providers increasingly using XBRL filings in the numbers they deliver to Wall Street, poor corporate reporting controls are threatening company reputations and raising the specter of investors making trading decisions based on faulty figures. In one recent case, SEC Data Guy founder Ed Hodder reported that six companies have submitted XBRL instance [...]
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A NEW study by prominent accounting professors has found evidence that big investors benefit from information they glean in private meetings with company CEOs – and they say their findings raise questions about whether such meetings meet the spirit of Regulation Fair Disclosure (Reg FD). The study adds to the mounting evidence that large traders [...]
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This is a guest post by David J. Price, chief financial officer and chief operating officer, EDGAR Online, Inc. Mr. Price joined EDGAR Online as Chief Financial Officer on July 6, 2010 and became Chief Operating Officer on May 13, 2011. Prior to that, he was Executive Vice President, Finance, Chief Financial Officer, Treasurer and [...]
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A contrarian approach to messaging for investor relations is to ask yourself, “What’s wrong with this company?” Then, in IR reports and presentations, address the weak points of your business – what causes investors to turn up their noses – along with your solutions. This offbeat idea was prompted by an interview with Anne Gudefin, a [...]
With the advent of Memorial Day and warm weather (down here in Houston we define warm weather by temperatures being above 90 degrees, where they will stay until late September), my thoughts have turned to baseball and what we in the investor relation…
AMID deep public distrust of all things Wall Street, regulators are coming under growing pressure to act against the billion-dollar business of private meetings between corporate executives and an elite group of traders and analysts. At the heart of the issue is whether large investors glean valuable information not available to other investors when they [...]
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SPARE a thought today for the investor relations and communications professionals at technology giant Hewlett-Packard Co. (NYSE: HPQ). They have probably had little sleep after rushing to prepare the company’s Q2 earnings materials two trading sessions earlier than planned after leaks of internal management memos to the media warning of tough business conditions. The company’s [...]
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