Two different aspects of insider trading are explored in two separate essays.

This dissertation focuses on the cross-sectional effects of option listing on the return variance of the underlying securities and makes two primary contributions. First, unlike previous literature, this dissertation develops a set of hypotheses to explain cross-sectional differences in variance...

This dissertation offers and tests a theory regarding the source of asymmetric cross-correlation in size-based portfolio returns and variances. This 'information transfer' theory states that large firm portfolio returns may 'lead' those of small firm portfolios because large firm stock prices...

Financial regulations require publicly traded firms to disclose firm-specific information relating to their financial performance as well as forecasts of future prospects disclosed to anyone outside the firm. Profit warnings present important market information as to the recent past firm...

This dissertation examines the stock price behavior of newly public firms following two separate events, acquisition announcements and a large single day price change. For the first essay on overreaction, the changes in both liquidity and information are considered in studying the stock price...

Since the early 1990s there has been a substantial increase both in mergers and acquisitions (M&A) as well as in divestitures of high-tech companies. This dissertation examines the takeover and divestiture activity in high-tech markets in an effort to extend our current knowledge regarding...

This dissertation analyzes the impact of takeover defenses and cancellations in three essays: (1) The Impact of the Strength of Targets' Takeover Defense Mechanisms on Acquiring Firms; (2) The Impact of the Announcement of Shareholder-Friendly Poison Pill Provisions on Shareholder Wealth; and...

Researchers of Initial Public Offerings, IPOs, have, traditionally, filtered out low-priced stocks with cut-off prices depending on individual study. This study examines underpricing, short- and long-run performance of one special class of such low-priced stocks. I examine IPOs filed for and...

The ongoing political, legal, and economic harmonization within the European Union has lead to a higher degree of integration of national financial markets. The introduction of the single European currency, the euro, eliminated a traditional source of risk to international portfolio investors....