Investor Response to Management Decisions: A Research-Based
ISBN: , SKU: , AUTHOR: Altman, Richard M., PUBLISHER: Quorum Books, This work concerns ong>managementong>'s abilong>itong>y to anticipate how investors will respond to the investing, financing, and operating decisions they make as they manage their business. Claiming that investor behavior is rational and predictable, as supported by extensive research in financial economics, Richard Altman presents a new kind ong>ofong> reference book: the first to bring reasoned theory and the results ong>ofong> exhaustive worldwide academic research to the interpretation ong>ofong> company stock price movements. Following an introductory chapter that provides an overview ong>ofong> the issue, Altman devotes two chapters to examining the investing decisions ong>ofong> ong>managementong> that affect asset, unong>itong>, and corporate structures. Investor response to financing decisions and financial policy are covered in the next two chapters, and are followed by a review ong>ofong> the response to operating decisions embodied in ong>managementong>'s reported earnings and earnings forecasts. This chapter also looks at investor response to investment research and securong>itong>ies analysis. The market for corporate control and ong>managementong>'s defense ong>ofong> that market are analyzed in two subsequent sections, while the link between the managerial labor market and managerial performance, pay, and tenure is also thoroughly explored. Finally, the book concludes wong>itong>h a discussion ong>ofong> ong>managementong> response to investor decisions. This work will be a unique and valuable tool for ong>managementong> prong>ofong>essionals and others in the finance, investment, and banking fields. ong>Itong> will also be a useful resource for business students and for public and academic libraries.