This study investigates the behaviour of the components of the bid-ask spread around earnings announcements. We find that adverse selection cost component significantly increases surrounding the announcements while the inventory holding and order processing components significantly decline...

Statistical extreme value theory is concerned with the use of asymptotically motivated models to describe the extreme values of a process. A number of commonly used models are valid for observed data that exceed some high threshold. However, in practice a suitable threshold is unknown and must...

In this study, we investigate whether foreign equity participation enhances the level of transparency in Korean listed firms’ accounting information. Using panel data on the Korean listed firms during the 1999–2019 period, we find that foreign ownership has a positive effect on the...