We test the predictability of eighteen stock return predictors, including classic factors such as firm size, book-to-market, and momentum, along with other proposed predictors from firm-specific, corporate investment, financing, and stock characteristic anomalies. These predictors have power to...

We explore some commonly held beliefs about individuals investing in OTC stocks (those traded on OTCBB & Pink Sheets), a fairly pervasive activity. We frame our analysis within the context of direct gambling, aspirational preferences in behavioral portfolios, and private information. Contrary to...

Stocks appear to have investor clienteles based on their business practices and products. The variety in expressive benefits each individual receives from owning controversial stocks causes them to modify their portfolio to accommodate their beliefs. We examine the ownership of firms with social...

We estimate positive and significant wealth transfers from individuals to institutions following a share repurchase. It appears that institutional investors are informed shareholders that use share repurchases as an opportunity to magnify the effect of their informational advantage over...

Unpaid chairpersons prioritize other stakeholders resulting in shareholder wealth loss. Using a sample of Chinese listed firms from 2005 to 2018, we find that firms who have chairpersons that they do not directly pay, underperform counterparts with paid chairpersons. The results are robust after...