This study examines the stock market forecasts and portfolio allocation decisions of small individual investors, based on survey data for 1987-1994. When investors are bullish, they increase their equity holdings; when investors are bearish, they decrease equity holdings. The surveyed investors...

We present evidence that bidder firms consider the composition of the target's board of directors when forming their takeover bids. Specifically, bidder firms quot;by-passquot; the board of directors when the CEO of the target also chairs the board, a condition consistent with management...