We hypothesize that managers can learn about a firm's investment uncertainty from the equity options market. Using a US sample of 1,865 merger and acquisition attempts during 1996–2015, we show that the volatility implied from an acquiring firm's equity options around an acquisition...

Studies of cross-listings show home markets dominate price discovery and point to informational advantages of local investors. However, we show price discovery gravitates to markets with better order execution quality and find home markets do not dominate price discovery. Instead, price...

We examine the role of competing exchanges to restore price parity following currency shocks during 2008, a year characterized by dramatic currency volatility. Burdens on the NYSE and home market to restore price parity for cross-listed stocks are more dynamic than previously thought....