We investigate institutional investor behavior and firm valuation surrounding extreme rainfall conditions in rain-sensitive firms. Using Indian monsoon data and exploiting extreme rainfall conditions as ongoing natural experiments, we show that institutional investors significantly increase...

Using a regime change setting, this paper examines whether investors flip less in bookbuilding than in auction initial public offerings (IPOs). Based on bookbuilding theory, we posit that the ability to control allocation flexibility in the bookbuilding mechanism should enable underwriters to...

We investigate whether immigration induced fear sentiments affect the investment decisions of institutional investors. Using a text-based measure of immigration fear and data from four developed economies, we show that higher immigration fear sentiments trigger institutional investors to divest...

Behavioral science has made a considerable contribution to finance. To gain an understanding of the scientific contributions emerging from all fields of finance with a behavioral perspective, this paper reviews the content of the major journal dedicated to behavioral finance, the Journal of...

Evidence of the impact of foreign equity investment flows on the global linkages of the Asian emerging equity markets is provided. Findings confirm that there is a general trend towards greater integration and this process appears to be influenced by the increasing volumes of foreign equity...

This paper investigates the investment decisions of IPO investors when equipped with information on both the quality of the firm and the market sentiment. Unique regulatory provisions allow IPO investors in India to have access to the independent assessment of firm quality and information on the...