The 2007 global financial crisis led to a chaotic financial environment characterized by highly uncertain and volatile stock markets. This created additional uncertainty about the fundamental value of shares and potentially increased the benefit of inside information. In this paper, we use event...

We test the information efficiency of the market for SO2 permits in the US. In order to do so, we perform a number of unit root tests and test if the changes in the SO2 permit price are serially correlated. Furthermore, we test if it would have been possible to earn a profit based on knowledge...

In this paper, we introduce a completely new and unique historical dataset of Belgian stock returns during the nineteenth and the beginning of the twentieth century. This high-quality database comprises stock price and company related information on more than 1500 companies. Given the extensive...