Based on a sample of 539 angel investors, we empirically test the impact of new ventures resource acquisition/allocation strategies in different development stages on angels abnormal returns and their extremeness. Our exploratory findings suggest that at early stages of development, ventures...

This study explores how the ethnicity of small business owners affects the influences of family ownership on their willingness to borrow. While the willingness issue is fundamental in the literature on small business debt financing, it has been understudied. We introduce an indirect measure of...

In this paper we investigate the effects of informed trading (PIN) and information uncertainty in determining price momentum. We find that trading strategies based on buying high-uncertainty good-news stocks and shorting high-uncertainty bad-news stocks work well when limited to high-PIN stocks,...

We discuss implementation problems and test approaches for using the full-information approach for estimating divisional betas. For both full-information and pure-play estimates, variations using capital structure adjusted betas perform better than those with raw betas, and those with betas...

Modeling social tagging plays a critical role in identifying statistical regularities and structural principles common to social tagging systems. Existing modeling approaches only consider imitations or background knowledge of users. However, common interests among users are ignored. In this...