Signaling theory predicts that the stock price reaction to issuance of fixed-rate, non-investment-grade debt would be more unfavorable in an age when interest rate swaps are readily available than in the pre-swap age. This prediction is based on the fact that swaps can be used to hedge long-term...

This study examines the frequency of extreme trading days and investment behaviour in Sweden. We show that the frequency, as well as the magnitude of extreme trading days has increased over time. We also show that the frequency of extreme trading days in a year is positively correlated to the...

Using a unique dataset of ownership structure for all stocks listed on the Stockholm Stock Exchange in Sweden, we examine different degrees of institutional holdings in Swedish firms during the bear market of 2000 to 2002. We find that examination by institutional investor domicile reveals that...