Using a sample of firms that conducted multiple SEOs during 1995-2012, we examine whether firms can build credibility for subsequent SEOs by following through on their stated use of proceeds from earlier SEOs. We find that firms that previously state their intention to invest funds in projects...

If stocks that heavily shorted by retail traders experience large positive earnings surprises, they tend to have abnormally higher returns on the earnings announcement day and beyond. This effect is more pronounced for less liquid stocks and unrelated to non-short selling by retail traders....

This paper uses the volatility surface data from options contracts to document a strong, robust, and positive cross-sectional relation between risk-neutral skewness (RNS) and subsequent stock returns. The differential return between high and low RNS stocks amounts to 0.17% per week....