Since 2000, Business Ethics magazine has published a list of the 100 Best Corporate Citizens. Our event study finds significant positive abnormal returns for new companies added to the annual listing on the press release date of the survey, both initially and in subsequent survey releases. Over...

The Securities and Exchange Commission (SEC) adopted Rule 605 (formerly Rule 11Ac1-5) on November 15, 2000. The Rule requires market centers to make monthly public disclosure of execution quality. The Rule is intended to achieve a more competitive and efficient national market system by...

We investigate the effects of analysts' affiliation and reputation on dealers' market making activities. We find that, for a given stock, dealers who have affiliated analysts covering the stock quote and trade more aggressively than those who do not have any affiliated analysts. More...

In this study we analyze the effect of order imbalance on the quotation behavior of Nasdaq market makers. We find that Nasdaq market makers use both price and quantity quotes when dealing with order imbalances. However, order imbalance affects only price movement, not spreads. We also find that...

Since 2002, Chief Executive magazine, in conjunction with the Hay Group, has published a list of the Top 20 Companies for Leaders. In this paper, we examine the performance of those companies listed as being the best for leaders. We examine the announcement impact on share price associated with...

Over the last two decades, marketers have gravitated toward placing their ads in specific television programs such as the Super Bowl, Academy Awards, and the last episodes of sitcoms. While anecdotal evidence of positive outcomes in the form of increased sales, phone inquiries, and hits on the...

Since 2000, "Business Ethics" magazine has published a list of the 100 Best Corporate Citizens. Our event study finds significant positive abnormal returns for new companies added to the annual listing on the press release date of the survey, both initially and in subsequent survey releases....

In this paper, we investigate the impact of the changes in European percentage sales before and after the Euro crisis for both US‐based and European‐based companies, both overall and across industries. We find that larger firms are associated with a decrease in return on assets (ROAs) in the...

In this study, we examine whether superior accounting performance as reported in the annual ABA Banking Journal Top Performing Banks survey translates into higher investor returns. We observe that the announcement effect is more pronounced during the early years of the survey. For the entire...