We explore insider trading at multinational firms and find multinational firm insiders make larger trades followed by larger abnormal returns relative to those at domestic firms. Multinational firm insider trading profits are concentrated among top-level insiders (CEO, President and Chairman),...

To better understand the causes of non-normality and the reliability of statistical estimation in financial research, we evaluate random variables differentiated by characteristics limiting continuity, including unique value levels, sample size, and mode size and location. We compare...

This study uses a novel dataset to analyze proxy exempt solicitations (ES) as a means of shareholder communication outside formal proxy rules. The results indicate that ES can effectively reveal widespread views and are accessed by investors and investment banks at high rates. The market reacts...

We investigate and quantify the financial consequences of corporate reputation by using manually assembled litigation, fraud, and cyberattack data from 2000 to 2018 to measure reputation changes following events that are often tied to public scrutiny. We examine the role of reputation in...