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INVESTOR RESPONSE TO MANAGEMENT DECISIONS: A RESEARCH-BASED ANALYSIS OF ACTIONS AND EFFECTS

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"Victory goes to those who anticipate." That is how I started my last book, titled Creating Investor Demand for Company Stock: A Guide for Financial Managers. In any business, regardless of what it is called (banking, law, med- icine, sports or whatever), those who anticipate change in competitive forces, competitors' fundamentals and competitors' strategies have an advantage over those who just react as changes occur.

The primary advantage is lead time-time to prepare and execute a plan to capitalize on expected change. Just as in sports, when an athlete anticipates an opponent's move and capitalizes on it, time and the element of surprise supply advantage and momentum. The boldness of the calculated risk surprises com- petitors and seizes momentum before they have a chance to react and counter. The advantage may be short-lived and neutralized as competitors adjust, but the gain can be the margin of victory.

This is a book about anticipation. It concerns management's ability to antic- ipate how investors will respond to the investing, financing and operating de- cisions it makes as it manages its business. Management decisions are information on Wall Street, and stock prices adjust as information becomes publicly available. This book is written in the belief that investor behavior is rational and predictable, a belief supported by extensive research in financial economics.

Investor Response to Management Decisions is significantly different from any other book management has read or might read concerning the stock market. It is essentially a reference book-the first to bring the results of exhaustive worldwide academic research in efficient capital markets directly to the desks of business executives.

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Availability

10000911

332.6 ALT i

RLC MM (Rak Buku Umum)

Available

Detail Information

Series Title

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Statement of Responsibility

Richard M. Altman

Call Number

332.6 ALT i

Publisher

New York : Quorum Books., 1992

Collation

xiv, 375 p. : ill ; 24cm.

Language

English

ISBN/ISSN

0-89930-448-6

Classification

332.6

Content Type

-

Edition

-

Subject(s)

Investasi
Buku Umum
Investing

Specific Detail Info

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