Purpose: The purpose of this paper is to investigate whether mutual funds (MFs) take positions in companies that subsequently engage in M&As and whether fund managers adjust portfolio holdings in the same direction as wealth creation from mergers. Further, the study is the first to examine the...

Purpose: Recent studies explore how chief executive officer (CEO) social capital affects corporate decision-making. Well-connected CEOs can have greater access to information, which can lead to better corporate decisions or permit them to amass power from hierarchy status and make self-serving...

Research on mergers and hedge funds find that the risk arbitrage spread has contracted. This paper investigates the role financial analysts have on risk arbitrage by comparing mergers where a single analyst covers both the target and the acquirer prior to the deal announcement. We find that...

We extend the literature by investigating whether analysts cater their coverage to investor information demand. Results suggest that analysts' coverage is contemporaneously positively associated with investor information demand, and negatively associated with the previous time periods...

This study examines the role of financial misconduct of institutional investors on aggressive financial reporting practices of investee firms. We find that firms held by institutional investors with disciplinary history (IDH) are more likely to engage in aggressive financial reporting practices....

This paper investigates whether political orientation has an influence on residential real estate returns in the context of the Covid-19 pandemic. Using county level housing data from January to June 2020, we document that the Democratic counties and the counties with higher prosocial scores...

We find a significant price premium ($21,000+ per house on average) for houses with energy-saving (green) features. Using hand-collected data to estimate the house-specific NPV of individual green features, we find that the economic value of green feature(s) cannot explain the green price...

We find a significant price premium ($21,000+ per house on average) for houses with energysaving (green) features. Using hand-collected data to estimate the house-specific NPV of individual green features, we find that the economic value of green feature(s) cannot explain the green price...