We study liquidity effects following S&P 500 index revisions. Using a recent sample of S&P
500 additions, we find a sustained increase in the liquidity of the added stocks. Further, the …

Models of capital market imperfections predict that information asymmetry decreases firm
investment and increases the sensitivity of investment expenditures to fluctuations in internal …

Studies in social sciences suggest that a normative commitment to stable, biological married
life is a potent catalyst for inculcating and nourishing prosocial values, preferences and …

We compare the relative magnitudes of the components of the bid‐ask spread for New York
Stock Exchange (NYSE)/American Stock Exchange (AMEX) stocks to those of National …

We investigate the market liquidity effects of the introduction of index-tracking stocks for the
Dow Jones Industrial Average (DIAMONDS) and the NASDAQ 100 index (Q's). Our main …

The main purpose of this paper is to argue the extent that earnings management lowers
disclosure quality. It should increase information asymmetry and impair trading liquidity. Using a …

Previous studies on the effects of auditor compensation on disclosure quality have focused
on accounting measures, such as earnings management, discretionary accruals, and …

Several studies have documented significant average underpricing for initial public offerings
(IPOs) of common stock on the NASDAQ system -- that is, the closing price on the first day of …

Based on theoretical advice and empirical evidence suggesting that risk taking in asset
allocation enhances pension returns, we evaluate empirically whether good corporate …

We study the impact of freezing defined benefit (DB) pension plans and replacing them with
defined contribution (DC) plans on liquidity, financial leverage, investment, and market value …