Purpose: The purpose of this paper is to investigate the impact of income diversification on the financial performance of commercial banks in Vietnam over the period 2007–2017. It then provides additional analysis to examine whether the diversification–performance nexus is conditioned upon...

We investigate the price impact of the well-known but empirically unsettled order spoofing strategy. We use a comprehensive database that includes complete orders of index futures and options submitted by every market participant and a unique linkage of order execution to overcome the empirical...

In this study, we investigate the impact of price on high-frequency trading order spoofing. To overcome the empirical challenges of identifying tick-by-tick order submission and the price impact for the executed orders, we use comprehensive submission orders and unique linkage of order...

The first chapter assesses the efficiency and performance of 401(k) investment options offered by a large group of US employers. We show that the majority of plans is efficient compared to market benchmark indexes. Three performance measures underscore the fact that these plans tend to offer a...

Though millions of US workers have 401(k) plans, few studies evaluate participant investment performance. Using data on over 1,000 401(k) plans and their participants, we identify key portfolio investment inefficiencies and attribute them to offered investment menus versus individual portfolio...

Portfolio performance in 401(k) plans depends on both the investment menu made available by plan sponsors and participants portfolio decisions. We use a unique dataset of nearly 1 million participants in one thousand pension plans to identify key portfolio inefficiencies in 401(k) plans,...