Advertising has a major effect on individual investors’ decisions. Financial instruments tend to be advertised more when market sentiment is high as investors are more willing to buy. Importantly, mechanisms that affect the relationship between market sentiment and advertising activity are...

This paper investigates whether the market reaction to second-hand information is due to price pressure or information dissemination. We use the perspective of attention grabbing to analyze the market reaction to the dissemination of analysts' recommendations published in print media. This...

This study analyzes the effectiveness of the Market Abuse Directive (MAD) in reducing possible profits from insider trading during voluntary tender offers with the purpose of delisting initiated by controlling shareholders. Exploiting the quasi-experimental setting provided by the introduction...