This paper provides empirical evidence that campaign contributions arestrongly associated with market expectations of future firm-specific political favors,including preferential access to external financing. Using a novel dataset, we find thatfirms in Brazil providing contributions in the 1998...

In this paper I test for and model volatility jumps for the General Index (GD) of the Athens Stock Exchange (ASE), expanding the previous literature on the ASE in various ways. Using intraday data I first construct various state-of-the-art realized volatility estimators which I then use in...

In this paper is shown that financial deepening is good for job creation up to a critical point, beyond which unemployment starts rising. The reason can be the heavy debt the private sector is bearing, so that business sector becomes unable to pay off debts, and thus companies go bankrupt...

We document that corporate insiders' trading behavior exhibits persistence over time. Classifying insiders as “Persistently Profitable (PP)” based on profits generated from historical trades, we find the current transactions of these insiders better predict firm performance. The relative...

Where can one systematically find research ideas? I propose a scheme to classify and broadly generalize the sources of inspiration for research topics, with emphasis on corporate finance. In the process, I propose 100 new research topics awaiting the brave and persistent

This paper presents evidence suggesting that artificial neural networks approach (ANNs) outperform traditional statistical methods and can forecast equity premiums reasonably well. The study replicates out-of-sample estimates of regression using ANN with economic fundamentals as inputs. The...

Using a global sample of 2,357 attempted initial coin offerings (ICOs), we examine whether ICO rating providers act as information intermediaries that may reduce information asymmetry and the associated adverse selection problem in the crypto-tokens market. We find that issuer-supplied voluntary...

A large discrepancy exists on the use of the investment–cash flow sensitivity as a measure of financing constraints of firms. We examine this discrepancy by considering business group affiliated firms in Pakistan. The study includes 58 group affiliated firms and 32 non-group affiliated firms...

This article studies the regulatory strategies to address the potential systemic risk of hedge funds operation in financial markets. Due to the implications of the choice of regulatory strategies and instruments in terms of mitigating systemic risk, the article focuses on one critical aspect of...