recent nonlinear techniques for detecting publication bias together with Bayesian and frequentist model averaging to evaluate … the heterogeneity in the estimates. The results yield three key conclusions. First, publication bias distorts the findings … of the primary studies. After this bias is corrected, the literature shows that with higher trading volume, returns …

more reliable than insignificant or opposite results. Consistent with this prediction we document a substantial bias …

publication bias. Third, the value added by activism depends on the country-specific regulátory framework. …