Tracking SEC visits with cellphone pings
The FT spotlighted this interesting paper that uses commercially available geospatial data to identify cell phones associated with Securities & Exchange Commission office buildings.
The authors then noted instances when those same SEC-related devices visited corporate headquarters, presumably as part of broad industry oversight or something more serious, like investigations into potential violations of securities laws.
“The impact of these visits is substantial,” the authors find. “Firms visited by SEC devices experience abnormally lower future market returns.”
The authors then noted instances when those same SEC-related devices visited corporate headquarters, presumably as part of broad industry oversight or something more serious, like investigations into potential violations of securities laws.
“The impact of these visits is substantial,” the authors find. “Firms visited by SEC devices experience abnormally lower future market returns.”
