Does the impact to mobility due to state-level lockdown during the COVID-19 pandemic affect retail investors’ attention in equity markets? Using Google’s mobility, the lockdown dates, and companies’ Wikipedia page views data, we show that stay-at-home duration increases retail attention....

Few studies have examined the spillover reputational damage of environmental and social (E&S) scandals ex-post. Using an international sample of negative E&S incidents and mergers and acquisitions (M&A) across 18 countries, we examine whether heightened E&S risks of acquirers post-incident...

We investigate the price reaction of listed companies in response to blockchain-related announcements. The average abnormal return based on a global sample of 713 firm announcements is approximately 5% on the announcement day, with significantly higher returns for U.S. firms, smaller firms and...

We investigate the price reaction of international listed companies in response to blockchain-related announcements. The average abnormal return based on a sample of 979 firm-announcements is approximately 5% with significantly higher returns for smaller firms and for announcements in late 2017...

This paper investigates how the prevailing sentiment portrayed by the media influences abnormal net purchases of retail and institutional traders around earnings announcements in ASX200 constituent firms from 2009-2013. We find that media sentiment influences institutional traders into...

Using data on a sample of NYSE stocks and their respective options contract, we examine how option-implied volatility influences liquidity provision on the equities market. Our findings suggest that in the 30-day leading up to an earnings release, implied volatility is negatively associated with...

We employ a large sample of adverse firm-specific environmental and social-related (henceforth, E&S) incidents to explore the impact of corporate social irresponsibility on corporate policies. We find that firms reduce cash holdings and issue more debt following negative E&S incidents,...

This study investigates the effects of price-fixing agreement engagement on corporate financial reporting opacity. Using a sample of U.S. cartel firms with price-fixing agreements from 1985 to 2016, we document a significant decline of financial reporting opacity when a firm engages into a...

There is a large literature that reports time-specific anomalies in equity markets such as the Monday effect, the January effect and the Halloween effect. This study is the first to report intra-day time-of-day, day-of-week, and month-of-year effects for Bitcoin returns and trading volume. Using...

Ben-Rephael et al. (2017) show “it depends on where you search”, highlighting a difference in retail and institutional attention. We add to this by investigating attention on the popular subreddit r/wallstreetbets, Twitter, Wikipedia page views, media, and a proxy for institutional...