Firm characteristics and long-run stock returns after corporate events

Abstract We provide evidence that incumbent and entrant firms' access to business group deep pockets affects the entry patterns in product markets. Re

Abstract This paper explores the implications of filtering and no-arbitrage for the maximum likelihood estimates of the entire conditional distributio

Abstract This paper considers the term structure of interest rates implied by a production-based asset pricing model in which the fundamental drivers

Abstract How do differences of opinion affect asset prices? Do investors earn a risk premium when disagreement arises in the market? Despite their fund

Abstract We examine whether access to management at broker-hosted investor conferences leads to more informative research by analysts. We find analyst

Abstract The literature on distressed firms has focused on these firms’ investment, capital structure, and labor decisions. This paper investigates a n

Abstract We find a negative relationship between bank distress and the level, quality and trajectory of firm-level innovation during the Great Depressi

Abstract We investigate a prominent allegation in congressional hearings that Moody׳s loosened its rating standards to chase revenue after it went publ

Abstract: We exploit the deregulation of interstate bank branching laws to test whether banking competition affects innovation. We find robust evi

Abstract We use industry valuation differentials across European countries to study the impact of membership in the European Union as well as the Euro