Economic consequences of SEC disclosure regulation: evidence from the OTC bulletin board

BJ Bushee, C Leuz - Journal of accounting and economics, 2005 - Elsevier
This paper examines the economic consequences of a regulatory change mandating
OTCBB firms to comply with reporting requirements under the 1934 Securities Exchange …

Asset pricing in the dark: The cross-section of OTC stocks

A Ang, AA Shtauber, PC Tetlock - The Review of Financial …, 2013 - academic.oup.com
Abstract Over-the-counter (OTC) stocks are far less liquid, disclose less information, and
exhibit lower institutional holdings than do listed stocks. We exploit these different market …

The effects of NASDAQ delisting on firm performance

M Li, K Liu, X Zhu - Research in International Business and Finance, 2024 - Elsevier
We empirically investigate the effects of involuntary delisting from the NASDAQ on delisted
firms. To disentangle the delisting effects from other factors, we use NASDAQ market …

On the effects of stock spam e-mails

M Hanke, F Hauser - Journal of Financial markets, 2008 - Elsevier
Over the past few years we have seen a rise in the number of unsolicited e-mails that
recommend buying certain stocks. The senders of these mails claim to have private …

The twilight zone: OTC regulatory regimes and market quality

U Brüggemann, A Kaul, C Leuz… - The Review of Financial …, 2018 - academic.oup.com
Studying a comprehensive sample of stocks from the US OTC market, we show that this
market is a large and diverse trading environment with a rich set of regulatory and disclosure …

The effect of stock spam on financial markets

R Böhme, T Holz - Available at SSRN 897431, 2006 - papers.ssrn.com
Spam messages are ubiquitous and extensive interdisciplinary research has tried to come
up with effective countermeasures. However, little is known about the response to …

Off but not gone: a study of Nasdaq delistings

JH Harris, V Panchapagesan… - Fisher College of …, 2008 - papers.ssrn.com
We examine 1,098 Nasdaq firms delisted in 1999-2002 that subsequently traded in the OTC
Bulletin Board and/or the Pink Sheets. Market quality deteriorates significantly after delisting …

Outcomes of investing in OTC stocks

JT White - US securities & exchange commission DERA white …, 2016 - papers.ssrn.com
This paper analyzes three aspects of over-the-counter (OTC) stocks:(1) the recent trends in
the OTC stock market structure and size;(2) the documented properties of OTC stocks; and …

The twilight zone: OTC regulatory regimes and market quality

U Brüggemann, A Kaul, C Leuz, IM Werner - 2013 - nber.org
We analyze a comprehensive sample of more than 10,000 US OTC stocks. We provide
much needed descriptive evidence on this market and show that the OTC market is a large …

Do stock prices reflect undisclosed financial statement information? Evidence from the OTCBB

BM Burnett - Journal of Accounting and Public Policy, 2020 - Elsevier
I exploit a regulatory change that mandated that Over-the-Counter Bulletin Board (OTCBB)
firms must comply with the reporting requirements of the 1934 Securities Exchange Act. I use …