Much attention has been paid to the complex risk transmission between carbon and energy markets along with the increasing global financial market integration. This research thus uses the DCC-MVGARCH model and spillover index method to investigate volatility linkages between the European carbon...

I propose to use volatility to infer opportunistic insider sales. I argue that insider sales occurring when volatility is low are suspicious and that these suspicious sales are likely to be driven by insiders’ private information for the following reasons. Suppose that insider sales are not...

I construct a new measure of accounting conservatism and offer validation tests. The new measure, DGOLOA, equals to the growth of operating liabilities minus the growth of operating assets. The rationale behind DGOLOA is that operating liabilities and operating assets shall grow at the same rate...