Previous research remains inconclusive as to whether fluctuations in aggregated insider trading measures can be predictive of wider economic change. This paper contributes toward resolving this contention. Based upon a recent dataset on UK company director's trades in the banking sector, our...

Using a Vector Autoregression framework, this paper investigates the dynamic relationship between the intensity of negative media speculation and the market performance of financial institutions. Evidence is provided that over the sub-prime crisis period pessimistic coverage Granger-caused the...

Analysed in this study are the returns on stock prices of target companies surrounding the first publicised dates of completed takeovers in the UK between 2001 and 2010. Two samples are created of 209 and 197 firms for announcement and rumoured dates respectively. Both demonstrate statistically...

Using a sample of 76 countries, this paper examines the impact of major strikes against government and its policies on stock market behavior. An occurrence of a general strike is detrimental to the value of equities, as documented by the ceteris paribus 6.11% fall in dollar-denominated stock...

In this study, we extend the standard economic model of suicide by considering a new influential factor driving the voluntary death rate. Using an international sample, we estimate the model and document a robust and significant inverse relationship between stock market returns and the...

Estimating trading costs in the absence of recorded data is a problem that continues to puzzle financial market researchers. We address this challenge by introducing two low frequency bid-ask spread estimators using daily high and low transaction prices. The range of mid-prices is an increasing...