those of small banks. In explaining this, we note that regulation imposes an effective cap on banks' equity volatility … we reject the hypothesis that small banks lower their equity volatility through lower leverage. Instead, we find that the …

volatility around seasoned equity offerings (SEOs). These findings are consistent with the uncertain signal hypothesis that … higher stock return volatility. We also provide direct evidence that changes in liquidity is positively associated with stock … price adjustment. However, the relations among liquidity, volatility and price movements appear to rely on how SEOs are …

market volatility affects the hedge fund returns or not is one of the main questions that we ask in the article. Our results … reveal that stock and bond market volatility do not have a significant impact on fund returns for the most part, which is a … result that is robust to various measures of volatility. Among the four regions we examine, only the emerging market hedge …