During the Flash Crash on May 6, 2010, a short period of high stock market volatility, some stock prices declined to $0.01, while others increased to $100,000. Examining Intermarket Sweep Orders (ISO) before, on, and after May 6, we find that ISO use is substantially higher on May 6. For those...

In response to the recent financial crisis, the U.S. Government introduced new rules which allow REITs to issue elective stock dividends (ESD) to satisfy their distribution requirements. The goal of these rules was to provide temporary relief to REITs facing cash flow problems. We investigate...

In response to the recent financial crisis, the U.S. Government introduced new rules which allow REITs to issue elective stock dividends, i.e., non-cash dividends, to satisfy their distribution requirements. The purported goal of these rules was to provide temporary relief to REITs facing cash...