In this study, we examine whether firms' engagement in Investor Relations and Stakeholder Communication (IRSC) activities reduce the cost of information asymmetry at the time of external financing. We also analyze the intermediary role of financing source (debt vs equity) and the existing level...

We study the equity valuation effects of the conversion to income trust; a form of corporate restructuring that has recently become very popular in Canada. We document positive abnormal returns at the announcement of the conversion and we study the characteristics of the converting companies to...

Using a portfolio of Dow Jones Industrial Average index constituents and the index ETF, we document significant intraday deviations from the law of one price. These are especially pronounced at very short time intervals. The extent of deviations is related to volatility, liquidity, and...