There is substantial evidence on the influence of political outcomes on the business cycle
and stock market. We further hypothesize that uncertainty about the outcome of a US …

In a Semi-Strong Form (SSF) Efficient Market, asset prices should respond quickly and
completely to the public release of new information. In the period from his election on 11/8/16 to …

In this paper we investigate the effect of golden parachute (GP) adoptions on shareholder
wealth. We control for the potential effect a GP adoption has on the probability that a firm will …

Easterbrook (1984) argues that dividend payments may be an ambiguous signal unless the
market can distinguish growing firms from disinvesting firms. Shares of growing firms that …

When managers have an unconstrained ability to trade in their firm's shares, an element of
moral hazard is introduced into the dividend signaling process making it impossible to …

Closed-End Investment Companies (CEICs) have experienced a significant revival of
interest, both as investment vehicles and as the subject of academic research, over the past …

Dividend policy signaling models infer a positive relationship among changes in dividend
policy, risk-adjusted excess returns upon the announcement of the change, and changes in …

The ex ante value of discount window operations is modelled as an option providing financial
institutions with a right to purchase reserves at potentially below market rates of interest. …

Studies of investor responses to exchange offer (EO) announcements find a positive relation
between abnormal returns and the proposed change in leverage: a result consistent with …

In this paper, we compare capital budget announcements by firms with anti-takeover mechanisms
in place to announcements by firms without takeover barriers during the period 1980 …