Purpose: Patents and patent citations provide a solid signal to investors about a firm’s innovation agenda. This signal can be even more useful for investors demanding securities from foreign firms, given the asymmetric information and adverse selection risk they face. This study aims to...

Purpose: This study examines the influence of the presidential elections on the behaviour of US investors according to the trading activity of two of the most popular investment vehicles: exchange-traded funds and close-ended funds. Design/methodology/approach: Based on the fact that investors...

Purpose The purpose of this paper is to examine the shifts in investor sentiment around the last seven US presidential elections (1988 through 2012). Design/methodology/approach Investor sentiment is measured by changes in closed-end funds discounts, and the results are corroborated with three...

Purpose The purpose of this paper is to contrast market risk exposure and diversification of single-listed American depository receipts (“ADRs”) with those of dual-listed ADRs from the same geographical region during 2004-2012. Design/methodology/approach The study uses orthogonal returns in...