Using trading data from the Korean equity market, where individual investors are active, we investigate whether there is any difference amongst individual investors, domestic institutional investors and foreign institutional investors in trading responses to analyst reports. We also examine the...

Using 189 commercial bank mergers between 1997 and 2004, we document a positive impact of the merger activity on bank liquidity creation. Consistent with the deposit insurance hypothesis, we find that banks with higher levels of deposit insurance create higher levels of liquidity around mergers....