2019
DOI: 10.1108/jrf-09-2018-0134
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Effect of pre-disclosure information leakage by block traders

Abstract: Purpose This paper aims to investigate pre-disclosure information leakage by block traders and market reactions to disclosures of off-hours block trading compared to off-market trading. Design/methodology/approach Stock responses were analyzed based on timely disclosures regarding Korean firms’ decisions to dispose of their own shares to improve their financial structures. Findings The results showed that pre-disclosure abnormal returns were generated in off-hours block trading. In contrast, on disclosure … Show more

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Cited by 2 publications
(1 citation statement)
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“…The former randomly selects an elliptic curve E/L and calculates its order parameters until a satisfactory curve is obtained. Due to the randomness of this method, it is a good method from a security point of view [27][28]. The latter idea is to use complex multiplication to construct an elliptic curve with a specific order on the prime domain Z.…”
Section: Information Leakage Prevention Algorithm Modelmentioning
confidence: 99%
“…The former randomly selects an elliptic curve E/L and calculates its order parameters until a satisfactory curve is obtained. Due to the randomness of this method, it is a good method from a security point of view [27][28]. The latter idea is to use complex multiplication to construct an elliptic curve with a specific order on the prime domain Z.…”
Section: Information Leakage Prevention Algorithm Modelmentioning
confidence: 99%