M&A announcements can result in substantial positive or negative abnormal acquiring-firm stock returns and sizeable associated dollar value gains or losses. Unfortunately for decision makers tasked with evaluating potential deals, the existing M&A literature focuses on the in-sample analysis of...

Few can argue with the notion that corporations should at least consider corporate social responsibility (CSR) to better understand the impact of their operations on society. However, recent empirical tests suggest CSR has an ambiguous impact on firm performance. To shed new light on this...

A sizeable amount of empirical research attributes stock price crashes to agency reasons, predominantly on managerial bad news hoarding behaviour manifested through the financial reporting opacity channel. Admittedly, another prominent agency-based explanation, namely the overinvestment channel,...