We examine the role of shareholder takeup in rights offerings on the subscription period price reaction and liquidity. Our results indicate that takeup information is reflected in price adjustments over the subscription period and that quality-related information disclosed on the rights...

This study examines the insider trading profitability of the United State (US) firms, during calendar time windows that capture tropical storms over the period 1988-2017. Using event study and multivariate regression analyses, we analyze cumulative abnormal returns following insider trades as a...

This study investigates the value-relevant implications of the target firm’s annual report readability for acquiring firms. We find robust evidence that readability has a positive association with bidder market reaction and bid premiums, as well as a negative association with the time to...

The paper uses linear and nonlinear predictive models to study the linkage between a set of 128 macroeconomic and financial predictors and the risk premium of commodity futures contracts. The linear models use shrinkage methods based on either naive averaging or principal components. The...

In this paper, I explain the What, Why, How, Who, and When of the IGPRC2023. In brief … First, What? Following on from the great success of the inaugural InSPiR2eS Global Pitching Research Competition (IGPRC) event in 2021-22, founded on Faff’s (2015, 2021) Pitching Research Framework (PRF),...

We investigate the role of retail traders in comovement in return and liquidity. We use the Robinhood data to compute a proxy of retail trading activity. Our results show that retail trading activity is associated with a decrease in both comovements in return and liquidity. The effects on...

Faff’s (2015; 2021) “Pitching Research” framework (PRF) is built on a research planning tool that challenges (novice) researchers to productively communicate their prospective research ideas to academic field experts. The framework gives you a total communication budget of 1,000 words ± 20%,...

Industry uncertainty networks extracted from option prices contain valuable information for business cycles. Classifying U.S. industries according to their contribution to system-related uncertainty, we uncover an uncertainty hub role for the communications, financials, IT and real estate...

Analogous to an experienced mariner choosing a safe harbour depending on the wind direction, we hypothesise safe-haven asset(s) are conditional on the cause of the market fall. Using oil markets as a salient case study, we find that traditional safe-haven assets, such as the US dollar and...

With some trepidation I confront an ambitious topic … What is this thing called “contribution” …? In this essay, I strive to provide a workable framework to help guide our thinking on the nature of research contribution that will assist all researchers – and, especially novices – to...