Share repurchase conveys information to investors and influences stock price in capital market. Normally when a company announces share buyback, the company's stock price will rise immediately. Thus, some insiders may take advantage of this pattern and create a fake repurchase event. When the...

Framing the mobility crisis induced by COVID-19 restrictions as a natural experiment resembling future shocks related to the transition to a net zero economy, we use a difference in differences analysis to investigate the impact of Scope 3 emission reporting on share price returns for companies...

We derive closed-form strategies for a broker who provides liquidity to an informed trader and to a noise trader over a finite-time and infinite-time trading horizon. The flow of the noise trader is uninformative and the broker trades with the noise trader at a profit, on average. On the other...

I empirically study how confirmatory bias works for strong and contradictory signals using sell-side analysts’ data. I first model an agent who is prone to confirmatory bias and whose task is to value a stock based on a signal, and then introduce the effects of signal strength by relaxing...

A core finding in traditional corporate finance is that manipulating funding instruments does not increase the value of a firm. Several Web3 projects have mechanisms to buy their tokens on the market and burn those tokens. If the finding from corporate finance holds in the Web3 environment then...

To explain the mixed findings on hiring discrimination against homosexual applicants, we explore the perceptual drivers behind employers' evaluations of gay men and lesbian women. Therefore, we conduct an extensive vignette experiment among 404 genuine recruiters, for which we test...