Following prior studies that suggest that option volume contains information about underlying stock prices, we examine option activity prior to earnings announcements. Results in this study show that put (call) volume relative to total option volume is higher prior to unfavorable (favorable)...

Firms that maintain business operations in multiple industries (i.e. conglomerate firms) demand high levels of information processing from investors. This study examines the ability of financial institutions to exploit pricing delays in conglomerate firms in an attempt to determine whether...

We explore insider trading at multinational firms and find multinational firm insiders make larger trades followed by larger abnormal returns relative to those at domestic firms. Multinational firm insider trading profits are concentrated among top-level insiders (CEO, President and Chairman),...