01316nas a2200169   4500008004100000245011500041210006900156260000900225300001000234490000700244520074700251653001200998100001701010700002401027700002301051856007201074       2018                        eng d00aBoard members' influence on resource investments to start-ups and IPO outcomes: Does prior affiliation matter?0 aBoard members influence on resource investments to startups and   c2018  a30-420 v493 aUsing data that contains career paths of start-up board members, we examine how their prior affiliations with various types of venture capital (VC) firms promote financial and human resource investments from the affiliated VC firm. We find that the likelihood of affiliation-based resource investments such as financing and board member engagement depends on the type of VC firms (e.g., bank-affiliated, corporate). Meanwhile, we find little evidence that affiliation-based resource investments lead to lower IPO costs and better post-IPO performances (i.e., return on assets, buy-and-hold abnormal returns, and failure rate). While prior affiliation could improve the inflow of resources, it might worsen screening and monitoring activities.10aFinance1 aMathew, Prem1 aTakahashi, Hidenori1 aYamakawa, Yasuhiro  uhttps://www.sciencedirect.com/science/article/pii/S0927538X1730446800455nas a2200145   4500008004100000245005200041210005100093260000900144300001200153490000700165653001200172100001700184700002000201856008800221       2015                        eng d00aDoes Director Affiliation Lead to Analyst Bias?0 aDoes Director Affiliation Lead to Analyst Bias  c2015  a272-2870 v4710aFinance1 aMathew, Prem1 aYildirim, Semih  u/biblio/does-director-affiliation-lead-analyst-bias00473nas a2200157   4500008004100000245004900041210004800090260000900138300001200147490000700159653001200166100002000178700001700198700001600215856008400231       2014                        eng d00aWhen-issued trading in the Indian IPO market0 aWhenissued trading in the Indian IPO market  c2014  a170-1960 v1910aFinance1 aBrooks, Raymond1 aMathew, Prem1 aYang, Jimmy  u/biblio/when-issued-trading-indian-ipo-market-200383nas a2200109   4500008004100000245004900041210004800090260002200138653001200160100001700172856008400189       2012                        eng d00aWhen-issued trading in the Indian IPO market0 aWhenissued trading in the Indian IPO market  aNew Orleansc201210aFinance1 aMathew, Prem  u/biblio/when-issued-trading-indian-ipo-market-300647nas a2200157   4500008004100000245009800041210006900139260002700208653002100235653001200256653003200268100002100300700001700321700002100338856013000359       2010                        eng d00aEntrepreneurial Foresight and the Endogenous Choice of Market Intermediaries in Japanese IPOs0 aEntrepreneurial Foresight and the Endogenous Choice of Market In  aMontreal, Canadac201010aEntrepreneurship10aFinance10aStrategy & Entrepreneurship1 aKhoury, Theodore1 aMathew, Prem1 aHibara, Nobuhiko  u/biblio/entrepreneurial-foresight-and-endogenous-choice-market-intermediaries-japanese-ipos-001246nas a2200157   4500008004100000245009100041210006900132260000900201300001000210490000700220520070100227653001200928100001500940700001700955856011600972       2009                        eng d00aThe efficiency of international information flow: Evidence from the ETF and CEF Prices0 aefficiency of international information flow Evidence from the E  c2009  a40-490 v183 aWhile similar in their trading and organization, closed-end funds (CEFs) and exchange-traded funds (ETFs) differ in their liquidity and ease of arbitrage. We compare their price transmission dynamics using a sample of funds that invest in foreign securities and are most likely to show the deficiencies in the manner in which they process information. Our analysis shows that ETF returns are more closely related to their portfolio returns than CEF returns. However, both fund types underreact to portfolio returns but overreact to domestic stock market returns. A simple trading strategy using these results is profitable with roundtrip trading costs less than 1.38% for CEFs and 0.71% for ETFs.10aFinance1 aHughen, C.1 aMathew, Prem  u/biblio/efficiency-international-information-flow-evidence-etf-and-cef-prices-100510nas a2200121   4500008004100000245009100041210006900132260002400201653001200225100001700237700001800254856011600272       2008                        eng d00aThe Efficiency of International Information Flow: Evidence from the ETF and CEF Prices0 aEfficiency of International Information Flow Evidence from the E  aDallas, Texasc200810aFinance1 aMathew, Prem1 aHughen, Chris  u/biblio/efficiency-international-information-flow-evidence-etf-and-cef-prices-200474nas a2200121   4500008004100000245006600041210006400107260002400171653001200195100001700207700002100224856010700245       2008                        eng d00aHow Does Bunching Affect Bid-Ask Spread Component Estimation?0 aHow Does Bunching Affect BidAsk Spread Component Estimation  aDallas, Texasc200810aFinance1 aMathew, Prem1 aMichayluk, David  u/biblio/how-does-bunching-affect-bid-ask-spread-component-estimation-000547nas a2200157   4500008004100000245007100041210006700112260000900179300001400188490000700202653001200209100003200221700001700253700002000270856009900290       2008                        eng d00aThe Value of Stability Ratings to the Canadian Income Trust Market0 aValue of Stability Ratings to the Canadian Income Trust Market  c2008  a1465-14740 v1810aFinance1 aNeeliah-Chinniah, Priscilla1 aMathew, Prem1 aYildirim, Semih  u/biblio/value-stability-ratings-canadian-income-trust-market-000525nas a2200157   4500008004100000245006700041210006600108260000900174300001200183490000700195653001200202100001700214700001800231700001500249856010300264       2007                        eng d00aAre Foreign Issuers Complying with Regulation Fair Disclosure?0 aAre Foreign Issuers Complying with Regulation Fair Disclosure  c2007  a246-2600 v1710aFinance1 aMathew, Prem1 aMichayluk, D.1 aKofman, P.  u/biblio/are-foreign-issuers-complying-regulation-fair-disclosure-000511nas a2200121   4500008004100000245008600041210006900127260003100196653001200227100001700239700001800256856011500274       2006                        eng d00aThe Dynamics of International Information Flow: Evidence from Daily Country FUnds0 aDynamics of International Information Flow Evidence from Daily C  aSalt Lake City, Utahc200610aFinance1 aMathew, Prem1 aHughen, Chris  u/biblio/dynamics-international-information-flow-evidence-daily-country-funds-000511nas a2200121   4500008004100000245009400041210006900135260001800204653001200222100001700234700001800251856012000269       2006                        eng d00aThe Dynamics of International Information Flow: Evidence from Daily Data on Country Funds0 aDynamics of International Information Flow Evidence from Daily D  aChicagoc200610aFinance1 aMathew, Prem1 aHughen, Chris  u/biblio/dynamics-international-information-flow-evidence-daily-data-country-funds-101366nas a2200157   4500008004100000245009400041210006900135260000900204300000900213490000700222520081500229653001201044100001601056700001701072856011901089       2006                        eng d00aAn Examination of the Differential Impact of Regulation FD on Analysts' Forecast Accuracy0 aExamination of the Differential Impact of Regulation FD on Analy  c2006  a9-310 v413 aRegulation fair disclosure (FD) requires companies to publicly disseminate information, effectively preventing the selective pre-earnings announcement guidance to analysts common in the past. We investigate the effects of Regulation FD's reducing information disparity across analysts on their forecast accuracy. Proxies for private information, including brokerage size and analyst company-specific experience, lose their explanatory power for analysts' relative accuracy after Regulation FD. Analyst forecast accuracy declines overall, but analysts that are relatively less accurate (more accurate) before Regulation FD improve (deteriorate) after implementation. Our findings are consistent with selective guidance partially explaining variation in the forecasting accuracy of analysts before Regulation FD.10aFinance1 aFindlay, S.1 aMathew, Prem  u/biblio/examination-differential-impact-regulation-fd-analysts-forecast-accuracy-000511nas a2200121   4500008004100000245009400041210006900135260001800204653001200222100001700234700001800251856012000269       2005                        eng d00aThe Dynamics of International Information Flow: Evidence from Daily Data on Country Funds0 aDynamics of International Information Flow Evidence from Daily D  aChicagoc200510aFinance1 aMathew, Prem1 aHughen, Chris  u/biblio/dynamics-international-information-flow-evidence-daily-data-country-funds-201619nas a2200169   4500008004100000245008100041210006900122260000900191300001200200490000700212520104800219653001201267100002401279700001701303700002001320856010901340       2005                        eng d00aThe Effects of Market Inefficiencies on Trading Strategies for Country Funds0 aEffects of Market Inefficiencies on Trading Strategies for Count  c2005  a2964-840 v163 aEconomists disagree about how sensitive country fund prices are to U.S. market returns. We provide additional evidence on this issue through an examination of daily fund discounts. Fund shares provide significant average returns in the three days following large positive and negative discount changes. This finding suggests that large short-term changes in the relation between price and underlying value are not quickly mitigated in the market for country fund shares. Following large negative discount changes, the returns on fund shares and NAVs are of greater magnitude when the S&P 500 Index declines by more than 1%. This is consistent with negative changes in U.S. market sentiment affecting both country fund prices and NAVs in the short-term. Simple trading strategies that take advantage of large discount changes around big changes in the U.S. market appear generally profitable even after adjusting for transaction costs. The limited liquidity in country fund shares suggests that it may be difficult to implement such strategies.10aFinance1 aHughen, Christopher1 aMathew, Prem1 aRagan, Kent, P.  u/biblio/effects-market-inefficiencies-trading-strategies-country-funds-000525nas a2200133   4500008004100000245008900041210006900130260000900199653001200208100001700220700001900237700001400256856012100270       2005                        eng d00aA NAV a Day Keeps the Inefficiency Away?  Fund Trading Strategies using Daily Values0 aNAV a Day Keeps the Inefficiency Away Fund Trading Strategies us  c200510aFinance1 aMathew, Prem1 aHughen, J., C.1 aRagan, K.  u/biblio/nav-day-keeps-inefficiency-away-fund-trading-strategies-using-daily-values-301363nas a2200169   4500008004100000245008900041210006900130260000900199300001200208490000700220520078300227653001201010100001901022700001701041700001401058856012101072       2005                        eng d00aA NAV a Day Keeps the Inefficiency Away?  Fund Trading Strategies using Daily Values0 aNAV a Day Keeps the Inefficiency Away Fund Trading Strategies us  c2005  a213-2300 v143 aPrevious research documents the value of closed-end fund trading rules based on the size of theweekly discount. The growing number of closed-end funds that provide daily net asset value data
provides an opportunity to test the profitability of short-term fund trading strategies. We find that
short-term trading strategies that purchase fund shares after large negative discount changes are
profitable, on average, even when transaction costs are incorporated. However, strategies that short
sell fund shares after large positive discount changes do not produce an average profit. The limited
amount of trading in closed-end funds may make it difficult to achieve short-term profits from discount
fluctuations. © 2005 Academy of Financial Services. All rights reserved.
10aFinance1 aHughen, J., C.1 aMathew, Prem1 aRagan, K.  u/biblio/nav-day-keeps-inefficiency-away-fund-trading-strategies-using-daily-values-200534nas a2200133   4500008004100000245008800041210006900129260001800198653001200216100001700228700001800245700001600263856012100279       2005                        eng d00aA NAV A DAY Keeps the Inefficiency Away? Fund Trading Strategies Using Daily Values0 aNAV A DAY Keeps the Inefficiency Away Fund Trading Strategies Us  aChicagoc200510aFinance1 aMathew, Prem1 aHughen, Chris1 aRagan, Kent  u/biblio/nav-day-keeps-inefficiency-away-fund-trading-strategies-using-daily-values-400459nas a2200121   4500008004100000245007300041210006900114260000900183653001200192100001700204700001500221856010100236       2004                        eng d00aThe Effectiveness of VC Firm Involvement in the Japanese IPO Process0 aEffectiveness of VC Firm Involvement in the Japanese IPO Process  c200410aFinance1 aMathew, Prem1 aHibara, N.  u/biblio/effectiveness-vc-firm-involvement-japanese-ipo-process-001295nas a2200133   4500008004100000245007700041210006900118260000900187520079900196653001200995100002101007700001701028856011601045       2004                        eng d00aGrandstanding and Venture Capital Firms in Newly Established IPO Markets0 aGrandstanding and Venture Capital Firms in Newly Established IPO  c20043 aThe grandstanding theory posits that young venture capital firms (VCs) will seek to build their reputations by taking ventures public early. In this study, we examine this theory in the Japanese IPO market. With the introduction of MOTHERS and NASDAQ Japan in 1999 and 2000, respectively, with the explicit intent of catering to smaller and younger companies, we are able to examine the influence of these new markets on grandstanding and the IPO process. We find that young lead VC-backed ventures go public at a younger age than mature lead VC-backed ventures and that young lead VC-backed ventures are more underpriced. However, we do not find that young lead VCs have relatively lower equity stakes at IPO. This latter finding is most likely a result of the introduction of the new markets.10aFinance1 aHibara, Nobuhiko1 aMathew, Prem  u/biblio/grandstanding-and-venture-capital-firms-newly-established-ipo-markets-001638nas a2200169   4500008004100000245010300041210006900144260000900213300001200222490000700234520104000241653001201281100001701293700001501310700001401325856012901339       2004                        eng d00aA Re-examination of Information Flow in Financial Markets: The Impact of Reg FD and Decimalization0 aReexamination of Information Flow in Financial Markets The Impac  c2004  a123-1470 v433 aWe investigate the impact of Regulation FD on information flow in the equities market. Our analysis indicates that information flow around earnings announcements, proxied by abnormal return volatility around those announcements, of U.S. stocks increased in the first effective quarter of Regulation FD (the fourth quarter of 2000). The information flow of ADRs, which are exempt from Regulation FD, does not change. This supports the inference that Regulation FD, not general market conditions, caused the increase in volatility, but Regulation FD did not have a persistent impact on information flow. A multivariate regression analysis shows that our results are robust to controls that include decimalization, which was implemented concurrently with Regulation FD and has reduced return volatility. Our comparison of return volatilities across firm size indicates that small firms temporarily had larger return volatilities, thus Regulation FD only temporarily had a differential impact on the information environment of small firms.10aFinance1 aMathew, Prem1 aHughen, C.1 aRagan, K.  u/biblio/re-examination-information-flow-financial-markets-impact-reg-fd-and-decimalization-001360nas a2200169   4500008004100000245008500041210006900126260000900195300001200204490000700216520078200223653001201005100001701017700002001034700001701054856011901071       2004                        eng d00aWhen-Issued Shares, Small Trades and the Variance of Returns around Stock Splits0 aWhenIssued Shares Small Trades and the Variance of Returns aroun  c2004  a415-4330 v273 aThe increases in volatility after stock splits have long puzzled researchers. The usual suspects of discreteness and bid-ask spread do not provide a complete explanation. We provide new clues to solve this mystery by examining the trading of when-issued shares that are available before the split. When-issued trading permits noise traders to compete with a more homogenous set of traders, decreasing the volatility of the stock before the split. Following the split, these noise traders reunite in one market and volatility increases. Thus, the higher volatility after the ex date of a stock split is a function of the introduction of when-issued trading, the new lower price level after the split date, and the increased activity of small-volume traders around a stock split.10aFinance1 aAngel, James1 aBrooks, Raymond1 aMathew, Prem  u/biblio/when-issued-shares-small-trades-and-variance-returns-around-stock-splits-001273nas a2200145   4500008004100000245008200041210006900123260000900192300001200201490000700213520076100220653001200981100001700993856011701010       2002                        eng d00aLong-Horizon Seasoned Equity Performance in the Pacific Rim Financial Markets0 aLongHorizon Seasoned Equity Performance in the Pacific Rim Finan  c2002  a317-3330 v113 aPrevious studies of firms that issue seasoned equity in the US and Japan have found that these firms significantly underperform over the long-run subsequent to the issue. I offer further evidence of this by examining Japanese seasoned offerings (SEOs) from 1975 to 1992. I find similar results for firms issuing seasoned equity in Hong Kong. However, I also find that Korean SEOs generate insignificant abnormal returns over a 36-month period following the issue. These results suggest that the asymmetric information argument offered for the US and Japanese markets do not always hold, especially in markets where the regulatory and market structures vary greatly. Cross-sectional results suggest that younger firms tend to perform worse than older firms.10aFinance1 aMathew, Prem  u/biblio/long-horizon-seasoned-equity-performance-pacific-rim-financial-markets-000543nas a2200133   4500008004100000245008600041210006900127260002300196653001200219100002000231700002100251700001700272856012000289       1999                        eng d00aWhen-Issued Shares, Small Traders and the Variance of Returns around Stock Splits0 aWhenIssued Shares Small Traders and the Variance of Returns arou  aNew York, NYc199910aFinance1 aBrooks, Raymond1 aAngel, James, J.1 aMathew, Prem  u/biblio/when-issued-shares-small-traders-and-variance-returns-around-stock-splits-0