We examine the impact of oil price uncertainty on U.S. stock returns by industry using the United States Oil Fund options implied volatility OVX index and a GJR-GARCH model. To do so, we test the effect of the implied volatility of oil on a wide array of domestic industries' returns using daily...

Terrorism remains a persistent threat to global peace and stability, but its impact extends beyond the realm of security. We examine the impact of terrorism on an important capital market transaction – initial public offerings (IPOs). Consistent with the notion that terrorism dampens investor...

Compared to conventional mutual funds, socially responsible mutual funds outperform during periods of market crisis. This dampening of downside risk comes at the cost of under performing during non-crisis periods. Investors with Prospect Theory utility functions would value the skewness of these...