Managers place a low value on equity-based compensation because it exposes them to the risk of the firm. Such undervaluation and the need to achieve diversification may force a manager to sell his own stock of the firm in response to equity-based awards. In this paper we examine whether such...

Sports bettors' success depends on the ability to accurately assess the true probability of outcomes. Successful racetrack bettors can realize returns better than the track take out. Historical empirical evidence shows the presence of favorite-longshot bias (FLB) in horse racing where bettors...

Recent empirical evidence indicates that the delay in the 2000 presidential election results impacted the stock market performance in the United States. In the present study we examine the impact of the same delay on the performance of the Canadian and Mexican stock markets. We find evidence...

The impact of the delay in the declaration of a winner in the U.S. Presidential Election of 2000 on the performance of stock markets is examined in this study. We present evidence indicating that the stock market performance was different from a pre-event comparison period. Conventional t-tests...