In this article, we examine dynamic relationships between volatility and various microstructure measures of trade activity and quoted liquidity for each component stock in the Toronto Stock Exchange 35 Index and for the Toronto 35 Index Participation Shares. When volatility is conditioned on...

This study examines whether and how online investor-firm interactions reduce the incidence of corporate fraud. We find that more interactions and investors’ negative sentiment reduce the likelihood of committing fraud. This finding remains with the use of various identification and...

We examine the effect of insider share pledges on corporate fraud. We find a positive, causal relation between share pledges by controlling shareholders and detected corporate fraud. Firms whose controlling shareholders pledge have longer fraud detection cycles and receive lighter punishments....