When a firm is targeted by an activist short seller, the consequences go beyond stock prices. We show that banks tend to increase interest rates on new loans after a short report is released—above changes in credit risks. forbes.com/sites/hecparis/20…
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Did you know since Q1-2024, 64% of all Chinese IPOs in US markets have already crashed more than -50%?
A recording of my @SECGov presentation on Chinese Pump and Dumps is now available. This is as animated as SEC presentations get. youtube.com/watch?v=dJ2nr4Q-…
SEC rules have failed miserably at protecting investors in US-listed Chinese companies. And so has @NASDAQ. Take 20m to stop scrolling and learn about all the egregious loopholes that US-listed Chinese companies are exploiting, and the systematic evidence.
At 16:55 @StockJabber's website StopNasdaqChinaFraud.com gets a mention. @adenatfriedman @Nasdaq
Today at 10am, I will presenting to the SEC Investor Advisory Committee, on closing loopholes for US-listed foreign companies with a huge focus on China and associated “pump and dumps.”
We have a China problem, and it is long past time for the SEC to end exemptions for US-listed Chinese companies from (1) 8-K reporting requirements; (2) Reg FD; and (3) Form 4 reporting
The agenda for the meeting is here, where a livestream will be posted
sec.gov/about/advisory-commi…
My slide deck is here
faculty.wharton.upenn.edu/wp…
I wanna h/t to @NateHindenburg for being ahead of the curve on cataloging the pump and dumps, and @StockJabber for creating a site where investors can upload screenshots with evidence of pump and dumps stopnasdaqchinafraud.com/
Finally, shout out to @muddywatersre, @blueorcainvest @WolfpackReports for the original work on the China Hustle.
All of this context makes an appearance in my SEC deck
THANK YOU FOR YOUR ATTENTION TO THIS MATTER
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This study examines how activist short sellers gather and share #information & finds they follow a three-stage process: idea generation, validation, & strategic report writing.
Read: spkl.io/6014ATkDA
Subscribe: spkl.io/6018ATkE6
#EconTwitter @LucPaugam @SPGlobal
Do banks react following activist short sellers' campaigns? Short answer: Yes. See new research at: hec.edu/en/knowledge/article…
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Comptastar @COMPTASTAR - Le cabinet comptable qui ne respecte rien : ni ses engagements, ni ses clients.
Je vous raconte.
#comptastar #entrepreneur #LMNP #SASU #comptabilite #businessfail #rendlargent
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Quel est ton profil ? Le Marcheur Curieux ! Tout nouveau ZorLifer commence ici, au niveau novice. Pour faire éclore ton œuf, cumule 7 000 pas ! 🚶♀️ Puis, débloque les niveaux Apprenti, Maître et Légende. 🔥 Relève le challenge. Télécharge ZorLife maintenant linktr.ee/zorlife.app
Excited to announce our paper on how r/WallStreetBets shaped finance with popular expertise is coming to AOS! Read more: papers.ssrn.com/sol3/papers.…
This made me laugh
Hodlers: an apology on.ft.com/3VouNJq
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Hodlers: an apology on.ft.com/3VouNJq
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Daniel Yu (Gotham City Research) surrounded by CFA charterholders after the conference on short selling, financial deception and corporate malpractice.
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.@LucPaugam, CFA, kicks off our evening conference with @GothamResearch's Daniel Yu.
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Vous pouvez retrouver une interview d'Arnaud Vagner, activiste short-sellers d'Iceberg Research, qui a été mentionnés, ici : hec.edu/en/arnaud-vagner-tak…
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#IQSOG | @XerfiCanal
Fonds activistes à découvert : justiciers ou criminels ?
Par Hervé Stolowy, @HECParis
xerficanal.com/iqsog/emissio…
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Someone recently asked me what was the greatest activist short report of all time
IMO it's Gotham City Research's July 1, 2014 report on Let's Gowex, a Spanish Wifi provider that went bankrupt within a week
"Over 90% of Gowex’s reported revenues do not exist."
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The high returns to carbon-emitting stocks may not be because the market is pricing in carbon risk, but because polluters can get away with their emissions due to government inaction. FT article; underlying research at papers.ssrn.com/sol3/papers.…. ft.com/content/10c93de4-fa55…
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Replying to @HerveHelias
@HerveHelias de @MazarsenFrance explique le soutien de #HECxMazars & de la recherche de #HECprof @LucPaugam : Les entreprises sont en pleine transformation des processus de décision en vue d’inclure les performances #ESG et ont besoin d'être accompagnées
#HECimpact #HECfondation
An great piece on #sustainability reporting!
Wagenhofer (@UniGraz) reflects on #Sustainability #Reporting from a #FinancialReporting Perspective in an opinion piece for #AiE
doi.org/10.1080/17449480.202…
#mandatory #standards #EU #US #aie #accounting #auditing @EAA_ARC #ISSB @EFRAG_Org #GRI #research #paper @IFRSFoundation
The
@EuropeanCommiss
is considering dropping #SFDR article 8 and article 9, after observing how fund managers use these articles to market their #ESG products. agefi.fr/asset-management/ac…































