Posted: 12 Sep 2016 · Last revised: 7 Nov 2016 | We show that firms with younger CEOs are more likely to experience stock-price crashes, including crashes caused by revelation of negative news in the form of breaks in strings of consecutive earnings increases.
82 Pages · Posted: 17 Apr 2015 · Last revised: 02 Sep 2018 | We provide strong evidence that the dispersion of individual stock options trading volume across moneynesses (IDISP) contains valuable information about future stock returns.
21 Pages · Posted: 10 Aug 2015 · Citations: 8 | This paper investigates how vertical integration may influence inventory turnover and firm operating performance. A causal model is developed to investigate the effects of vertical integration on three types of inventory, namely raw materials inventory (RMI), work in progress inventory (WIPI) and finished goods inventory (FGI).
44 Pages · Posted: 30 Oct 2014 · Last revised: 24 Apr 2015 | We propose a test statistic for nonzero mean abnormal returns based on a Smooth Transition Auto Regressive (STAR) specification.
