Although firms devote a great deal of resources to promoting high ethical standards, little is known about how deceptive information transmission affects behavior in these environments. We find evidence for ripple effects of deceptive reporting—that victims of lies pay lies forward—and show...

We study the link between the profitability of momentum strategies and firm size, drawing on an extensive dataset covering 14 stock markets across the globe. International momentum profitability is markedly higher in medium-size than in big stocks. Momentum premia are considerably diminished by...