Few innovations in the money markets have brought more attention by regulators and policy
makers than the digital currency Bitcoin. However, few studies in the literature have …

Political involvement has long been shown to be a profitable investment for firms that seek
favorable regulatory conditions or support in times of economic distress. But how important …

Recent research finds that investors, broadly defined, react to the linguistic tone of quarterly
earnings conference calls; there is a positive relation between firms' stock returns and call …

This study examines the time-series relation between Bitcoin and forward inflation expectation
rates. Using a vector autoregressive process, we find that changes in Bitcoin Granger …

We develop a model of corporate dividend policy based on the idea that management values
operating flexibility. By reducing dividends and conserving cash, management increases …

Prior research argues that the process of intermediation is opaque and produces uncertainty
about the riskiness of banks, which may adversely affect the efficiency of bank stock prices. …

While prior research provides evidence of price clustering in bitcoin, this study seeks to explain
the unusual level of bitcoin price clustering using various measures of bitcoin-level and …

Christophe et al. (2010) find evidence of abnormal short activity prior to analyst downgrades
and argue that short sellers may be violating SEC insider-trading laws by trading on …

Using a broad cross-sectional sample of countries, this study tests whether stock market
liquidity affects the level of income inequality. After holding a variety of factors constant – …

This paper investigates the link between economic freedom and the price stability of individual
securities in a unique setting. Using a sample of 327 American Depositary Receipts (…