scholarly journals Investment Opportunities, Market Feedback, and Voluntary Disclosure: Evidence from the Shale Oil Revolution

2021 ◽  
Author(s):  
Zackery D. Fox ◽  
Jaewoo Kim ◽  
Bryce Schonberger
Keyword(s):  
Voluntary Disclosure ◽  
Shale Oil ◽  
Investment Opportunities ◽  
Market Feedback

Should I Stay or Should I Grow? Using Voluntary Disclosure to Elicit Market Feedback

2019 ◽  
Vol 33 (8) ◽  
pp. 3854-3888 ◽  
Author(s):  
Sudarshan Jayaraman ◽  
Joanna Shuang Wu
Keyword(s):  
Stock Market ◽  
Stock Prices ◽  
Voluntary Disclosure ◽  
Capital Expenditure ◽  
Informed Trading ◽  
Capital Expenditures ◽  
Market Reactions ◽  
Future Performance ◽  
Market Feedback ◽  
Stock Market Reactions

Abstract We explore the use of voluntary disclosure by managers to solicit market feedback. Using managerial capital expenditure forecasts, we find that managers adjust annual capital expenditures upward (downward) in response to positive (negative) stock market reactions to capital expenditure forecasts, but only for those forecast announcements that stimulate rather than discourage informed trading. These capex adjustments motivated by market feedback correlate with higher future performance and are stronger (weaker) when outsiders (managers) are more informed. Finally, we show that managers are more likely to issue and learn from capex forecasts when predisclosure stock prices are affected by transitory nonfundamental shocks.

Geothermy and zoning of shale oil prospects of the Koltogor-Urengoy paleorift (southeastern part of West Siberia)

2018 ◽  
Vol 40 (3) ◽  
pp. 54-80 ◽  
Author(s):  
V. I. Isaev ◽  
G. A. Lobova ◽  
V. V. Stotskiy ◽  
A. N. Fomin
Keyword(s):  
West Siberia ◽  
Shale Oil ◽  
Southeastern Part

The Franchise Factor Valuation Approach: Capturing the Firm’s Investment Opportunities

1995 ◽  
Vol 1995 (4) ◽  
pp. 5-11
Author(s):  
Stanley Kogelman ◽  
Martin L. Leibowitz
Keyword(s):  
Investment Opportunities
Sign in / Sign up

Export Citation Format

Share Document