Long-short and market neutral funds seek superior risk-adjusted returns while limiting their exposure to stock market risk. Over the 1999 to 2013 period the number of funds with these investment objectives increased by over 700 percent. Despite their growing popularity, we find that long-short...

To examine whether managers of micro-cap mutual funds add value, we compare the performance of micro-cap mutual funds against a micro-cap index. Micro-cap funds are mutual funds that invest in small firms with market value less than $300 million. Micro-cap mutual funds typically are actively...

We investigate the relationship between a firm's degree of social responsibility and its performance. To accomplish this objective, we examine the stock market reaction to the announcement of Fortune magazine's list of 100 Best Companies to Work For over the 1998 to 2003 period. We find...

This paper studies the impact of drug withdrawals on shareholder wealth of producers and competitors. Results show that the wealth loss is conditional on the information content of the news of a drug withdrawal. Firms withdrawing drugs during advanced clinical investigations suffer a larger...

We investigate the relationship between a firm's degree of social responsibility and its performance. To accomplish this objective, we examine the stock market reaction to the announcement of Fortune magazine's list of 100 Best Companies to Work For over the 1998-2003 period. We find significant...