In this dissertation, two research questions are studied. In the first study I theoretically analyze a privately informed firm's decision to adopt managerial initiatives that improve the precision of information the firm uses for internal decision making and the stock market reaction to that...

We introduce a simple game between two rival firms---a leader and a follower, where the leader moves first and makes an operational choice under uncertainty. The leader's disclosure of its resulting financial success or failure may in turn give the follower a competitive advantage by informing...

Cusatis, Miles, and Woolridge (1993) report large positive excess returns following spin-offs over the period 1965-88. We investigate whether a trading strategy based on this ex post analysis would have earned excess returns on an ex ante basis over the period 1989-95. When compared with the...