We examine the market response to quarterly earnings announcements made during trading and non-trading hours on the NYSE and the NASDAQ. For non-trading-hours announcements, the opening trade on the NYSE impounds most of the price response, whereas for trading-hours announcement trades. In...

We consider a monopolist selling durable goods to consumers with unit demands but different preferences for quality. The seller can offer items of different quality at the same time to induce buyers to self-select, as in Mussa-Rosen (1978), but is not artificially constrained to offer only one...

This study examines whether the earnings quality of a firm that first announces quarterly earnings in its industry impacts the magnitude of intra-industry information transfers. Prior research shows that higher quality earnings better reflect the operating fundamentals of a firm. I argue that...

The two essays in this dissertation study issues related to debt contracting. The first essay examines whether aspects of debt contracting have been affected by the provisions of the Sarbanes-Oxley Act of 2002 that increased monitoring of management's activities by independent directors,...

In many applications, assumptions about the log-concavity of a probability distribution allow just enough special structure to yield a workable theory. This paper catalogs a series of theorems relating log-concavity and/or log-convexity of probability density functions, distribution functions,...