US state pension plans generally use overstated discount rates based on historical performance, creating the appearance of healthy funding at the cost of future underfunding. Conversely, adopting a US Treasury discount rate, or another alternative suggested by previous literature, would cause...

As most of the state pensions in the USA deal with their respective funding crisis, we compare the management approaches undertaken by funds located in the states that are governed by Republicans vis-à-vis funds that are located in states governed by Democrats. We find that pension funds...

We evaluate the role of foreign short-sale restrictions in muting the full return-response following negative earnings surprises for stocks cross-listed in unbanned markets. We update the global timeline of short-sale restrictions until the COVID-19 crisis period. Instead of regulatory price...

Although it is well established that investors are willing to accept a negative premium for lottery-like stocks, it is puzzling that the opposite effect is not observed in stocks experiencing large daily losses. We find that stocks that experience large negative daily returns (MIN) also display...

An inversion is a strategy used by multinational enterprises (MNEs) to avoid high corporate taxes in their home countries, by changing their domicile to foreign countries with lower taxes. While prior studies have focused primarily on firm-level and country-level determinants of inversions, we...

Decision-making by governments during the COVID-19 health crisis pertains a delicate balance between physical and financial health of individuals. We compare the health and economic outcomes resulting from the respective responses adopted by Republican and Democratic states in the US. Our...