This study aims to investigate the effect of bond issuance announcements and to determine the company characteristics that could influence this effect. The findings reveal positive cumulative average abnormal returns following bond issuances, indicating that the market considers bond offers to...

Investigating the effect of earnings announcement abnormal return and of abnormal trading volume on future returns for a large sample of European companies with both annual and interim announcements over 1997-2010, the author found that the two measures of market surprise are positively related...

We prove an anticipative sufficient stochastic minimum principle in a jump process setup with initially enlarged filtrations. We apply the result to several portfolio selection problems like mean and minimal variance hedging under enlarged filtrations. We also investigate utility maximizing...

We use the largest cross-country sample of reported share transactions by corporate insiders to date to establish that insiders in the majority of European countries do not make statistically significant abnormal trading profits. This finding stands in contrast to the earlier evidence from the...

We have found that for net income and earnings before interest and tax the average expected rate of profitability mean reversion (exactly rate of abnormal profitability deterioration) differs significantly from approx. 10 % to 80 % (depending on the estimation method used). Overally results can...