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The purpose of this paper is to examine the impact of regulatory changes by the US Securities and Exchange Commission in 2000 on private information leakage prior to merger announcements.

Using a sample of 5,045 merger announcements between 1990 and 2008, the authors examine differences in information leakage between the pre- and post-regulation period merger announcements for acquirers using regression analysis.

The results suggest that regulatory changes have been effective in preventing private information leakage in merger announcements for large- and medium-sized firms, for high-tech firms, and for stock deals. The authors find that abnormal trading volume due to differences in information quality is reduced post-regulation for stock deals, high-tech firms, large- and medium-sized bidders, indicating less leakage of information after the new regulations. The authors find higher announcement returns post-regulation for the entire sample and for all subsamples except stock deals, small firms, and public targets. Higher announcement returns indicate that merger announcements are a greater surprise to the market due to a reduction in leaked private information after the regulatory changes.

The results have implications on future rule changes, on refinements of insider trading rules, regulation fair disclosure, and regulation M-A. The authors leave for future research why certain types of firms or deals are not impacted by regulatory changes.

Examine the effect of changes in information environment on merger announcements for acquirers because the impact likely has greater significance on acquirers than that on targets. Past studies have examined only targets.

Abusive supervision is associated with many detrimental consequences. In this theory-review chapter, we extend the abusive supervision literature in two ways. First, we argue that more attention needs to be given to the emotion contagion processes between the leader and followers. More specifically, leaders’ negative affect can lead to followers’ experiences of negative affect, thereby influencing followers’ perception of abusive supervision. Second, we explore how employees draw upon their cognitive prototypes of an ideal leader or Implicit Leadership Theories (ILTs) to evaluate leader behaviors. In this regard, we argue that ILTs can influence the (negative) emotional contagion process between the leaders’ negative affect and followers’ perception of abusive supervision. In our proposed model, leaders’ expressions of negative affect, via emotional contagion, influence followers’ negative affect, perception of abusive supervision, and two behavioral responses: affect- and judgment-driven. The negative emotional contagion process between the leader and followers also differs depending on followers’ susceptibility to emotional contagion and their ILTs. We conclude by discussing the theoretical and practical implications of our model.

The following report was brought up by Dr. P. Brouardel, Dean of the Faculty of Medicine of Paris, President of the Commission, and was submitted for the approval of the Congress:

This paper aims to explore some initial and necessarily broad ideas about the effects of the world wide web on our methods of understanding and trusting, online and off.

The paper considers the idea of trust via some of the revolutionary meanings inherent in the world wide web at its public conception in 1994, and some of its different meanings now. It does so in the context of the collaborative reader‐writer Web2.0 (of today), and also through a brief exploration of our relationship to the grand narratives (and some histories) of the post‐war West. It uses a variety of formal approaches taken from information science, literary criticism, philosophy, history, and journalism studies – together with some practical analysis based on 15 years as a web practitioner and content creator. It is a starting point.

This paper suggests that a pronounced effect of the world wide web is the further atomising of many once‐shared Western post‐war narratives, and the global democratising of doubt as a powerful though not necessarily helpful epistemological tool. The world wide web is the place that most actively demonstrates contemporary doubt.

This is the starting place for a piece of larger cross‐faculty (and cross‐platform) research into the arena of trust and doubt. In particular, the relationship of concepts such as news, event, history and myth with the myriad content platforms of new media, the idea of the digital consumer, and the impact of geography on knowledge that is enshrined in the virtual. This paper attempts to frame a few of the initial issues inherent in the idea of “trust” in the digital age and argues that without some kind of shared aesthetics of narrative judgment brought about through a far broader public understanding of (rather than an interpretation of) oral, visual, literary and multi‐media narratives, stories and plots, we cannot be said to trust many types of knowledge – not just in philosophical terms but also in our daily actions and behaviours.

This paper initiates debate about whether the creation of a new academic “space” in which cross‐faculty collaborations into the nature of modern narrative (in terms of production and consumption; producers and consumers) might be able to help us to understand more of the social implications of the collaborative content produced for consumption on the world wide web.