This study uses data on 27 European stock indices over the period from January 2007 to December 2012 to investigate the relationship between innovations and the market reaction to negative news during the financial crisis. We use the bivariate BEKK-GARCH approach to estimate time-varying betas...

Using a novel dataset of insider trading and short selling from the Hong Kong Stock Exchange, we investigate potential information leakage from insiders to short sellers, particularly in family-controlled firms. We document a significant increase in short selling volume before information on...

This paper investigates the impact of ETF ownership on seasoned equity offerings (SEOs). We find that increases to firms’ ETF ownership is positively related to their propensity to conduct an SEO. ETF ownership is also associated with less negative SEO announcement returns, smaller discounts,...