We examine the association between accounting quality, which is used as a proxy for firm information risk, and the behavior of the term structure of implied option volatility around earnings announcements. By employing a large sample of US firms having options traded on their equity during...

In this study, we examine the options market reaction to bank loan announcements for the population of US firms with traded options and loan announcements during 1996-2010. We get evidence on a significant options market reaction to bank loan announcements in terms of levels and changes in...

We examine the association between accounting conservatism, expressed in the form of asymmetric timeliness of recognition of economic gains and losses, and corporate social responsibility (CSR). We provide evidence that, under unfavorable macroeconomic conditions and financial constraints, as...

We examine the association between active options market trading and the (in)efficiency of corporate investment in terms of deviation from optimal investment levels. Past research considers the volume of options trading as contributing to firms’ informational efficiency. Investment efficiency...

We examine the impact of accounting quality, used as a proxy for information risk, on the behavior of equity implied volatility around quarterly earnings announcements. Using US data during 1996-2010, we observe that lower (higher) accounting quality significantly relates to higher (lower)...

Empirical evidence regarding accrual-based earnings management around mergers and acquisitions has been setting-specific as far as target firms are concerned. This might be due to the fact that target firms cannot always anticipate an acquisition proposal, and thus lack the motive and the time...

In this paper, we examine whether findings on downwards accrual-based earnings management for firms publicly ‘seeking a buyer' from the US can be extrapolated outside of the US context, given that past research has indicated that the function of the Merger and Acquisition (M&A) markets is...

Purpose: The purpose of this study is to quantify the impact of online customer reputation on financial profitability.Design/methodology/approach: Online reputation is captured by extracting the most recurring textual themes associated with customer satisfaction and dissatisfaction, expressed...

This study examines whether acquirers make better intra-industry acquisitions when target firms’ financial statements exhibit greater comparability with those of the acquirer. We extend past research by examining accounting comparability of the M&A target to the deal acquirer, rather than...

This Online Appendix provides additional results in support of the main analysis presented in the above-mentioned paper. This Online Appendix contains ten Tables. All variables are defined in Appendix A of the manuscript. The paper 'Enhancement in Firms’ Information Environment via Options...