Showing 1 - 10 of 28
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....
Persistent link: https://www.econbiz.de/10013248190
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...
Persistent link: https://www.econbiz.de/10014244644
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...
Persistent link: https://www.econbiz.de/10012894490
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...
Persistent link: https://www.econbiz.de/10012899238
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...
Persistent link: https://www.econbiz.de/10012936532
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...
Persistent link: https://www.econbiz.de/10012934764
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,...
Persistent link: https://www.econbiz.de/10012833987
We examine the effect of corporate social responsibility engagements signaled through negative environmental and social (E&S) incidents on equity financing via seasoned equity offerings (SEOs) across 25 countries. The results show that negative E&S incidents significantly aggravate SEO...
Persistent link: https://www.econbiz.de/10013220752
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...
Persistent link: https://www.econbiz.de/10013295528
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...
Persistent link: https://www.econbiz.de/10012941302