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Keywords: short interest
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Journal Articles
The Accounting Review (2019) 94 (3): 1–26.
Published: 01 May 2019
... that managers possess. We tackle this challenge by constructing a proxy for managers' private bad news (residual short interest) and then perform a series of tests to validate this proxy. Using management earnings guidance and 8-K filings as measures of voluntary disclosure, we find a negative relation between...