We find that US corporations increase their cash holdings in response to higher economic
policy uncertainty. The increase in cash holdings is not attributed to a reduction in firm …

We find that powerful chief executive officers (CEOs) are associated with higher crash risk.
The positive association between CEO power and crash risk holds when controlling for …

Bioactive compounds from medicinal plant sources are of great interest to scientists due to
their druggability and their health benefits for plants, animals, and humans. Besides that, …

This paper considers the Samuelson hypothesis, which argues that the futures price volatility
increases as the futures contract approaches its expiration. Utilizing intraday data from 20 …

We find a negative relation between democracy and initial public offering (IPO) underpricing
for a sample of 23,050 IPOs across 45 countries. The effect of democracy on underpricing is …

We document the negative effect of stock liquidity on default risk for a sample of 46 countries.
We further find that default risk declines following the introduction of the Directive on …

This paper investigates the determinants of the order aggressiveness of institutional and
individual investors on the Australian Stock Exchange. Utilizing a proprietary data set that …

We exploit the staggered initiation of merger and acquisition (M&A) laws across countries
as a plausibly exogenous shock to the threat of takeover to examine whether the market for …

We document a positive relation between stock liquidity and firm value. We examine the
mechanism through which stock market liquidity enhances firm value by dividing firm value, as …

We document a negative association between foreign competition and stock liquidity. Our
results are robust to addressing endogeneity concerns. We identify deterioration in the …