In this paper I examine the absolute and relative price efficiency of NBA options listed on Tradesports.com. I find that contracts within specific price bands are misvalued, but also demonstrate that this market is more efficient than is the market for NFL options. Specifically, I show that...

We examine the effects of variations in player compensation on NFL franchise performance from 1994 to 2004. Evidence shows that team success depends significantly upon both the actual and perceived fairness of pay distribution. Specifically, proficiency relative to that of competitors is high...

Corporate managers often invest in activities that are deemed to be socially responsible. In some instances, these investments enhance shareholder value. However, in other cases, altruistic managers or managers who privately benefit from the positive attention arising from these activities may...

From 2000 to 2008, Tradesports operated an online betting site where gamblers used real money to wager on the outcomes of various sporting events. A critical difference between Tradesports and traditional casino-type venues is that participants were allowed to place wagers after underlying...

We explore the mechanisms by which intangible assets and R&D intensity mediate the relationship between global economic policy uncertainty and firm value. We find that firms in high intangible-intensity industries and those engaging in R&D suffer the most from restrictive governance policies...

We examine the relationship between CEO political alignment, compensation, and pay disparity (relative to other high-earning executives) and find that Democratic CEOs accept less pay and a significantly lower pay slice. That is, left-leaning CEOs put their money where their mouth is regarding...

This paper explores the connection between corporate social responsibility intensity and the political affiliation of elite management and lower-level personnel and offers evidence that CSR initiatives are frequently driven from the bottom up by employees actively expressing their sociopolitical...

Economic uncertainty disrupts firms' ability to create value. Most related literature examines how various organizational characteristics affect value under extreme conditions – the global financial crisis. However, recent work in quantifying economic uncertainty now makes it possible to take...

We explore the financial value of NCAA football recruits and establish a wage schedule based on the star ratings assigned to high school athletes by an independent talent evaluation agency. Evidence suggests that the contribution of higher-ranking recruits to team wins significantly increases...

In this paper we explore the profit-taking tactics employed by informed traders when there are informational asymmetries across investors. Our laboratory is Tradesports, which until 2015 operated a double auction exchange where participants traded binary options contracts. This venue is a close...