Given police abolitionism's new visibility after the 2020 racial justice protests, we assess stakeholder beliefs on the protests' stock impacts on police-affiliated firms. Experts generally underestimate the firms' stock gains, except situated experts like community organizers and police...

Firms with high levels of organization capital, a firm-specific production factor provided by key employees, are known to be risky and earn high stock returns. We argue that fragility of organization capital -- its sensitivity to potential disruptions -- is an independently important determinant...

We find that forecast revisions by analysts with more favorable surnames elicit stronger market reactions. The effect is stronger among firms with lower institutional ownership and for analysts with non-American first names. Following the 9/11 terrorist attacks, and France and Germany's...

This paper explores how equity market volatility are related with the Index of Economic Freedom for 22 emerging countries over 1995-2010 by considering the impacts of financial crisis. Consistent with theory, we find the overall economic freedom index and it components exert significant impacts...

The role of race in American society is evolving driven by law-enforcement-linked Black deaths, Black Lives Matter protests, counter-protests, debates about Confederate monuments, and other race-related events. This raises questions about how changes in bias, systemic racism, and diversity...

The paper's purpose is to investigate dynamics of the Vietnamese stock market with other stocks markets around the world since understanding the linkages is important for assessing investment and managing financial risk. To this end, we employed a structural Vector Autoregression (VAR) model to...