We show theoretically that a novel nonlinear interaction of fund flows and returns plays a central role in either moderating or amplifying the portfolio rebalancing demand of levered and inverse-levered ETFs (LETFs). Rebalancing, in turn, affects underlying’s and market’s return volatility....

This study investigates whether CEO Big Five personalities (i.e., agreeableness, conscientiousness, extraversion, neuroticism and openness) are associated with stock price crash risk. The Big Five can influence managerial behaviors to withhold or release bad news. When the amount of withheld...