In this study, we examine the evolution of the arbitrage spread between 1990 and 2007 and find that since 2002 the arbitrage spread has declined by over 400 basis points (quot;bpsquot;). This decline is both economically and statistically significant. The decline in arbitrage spread corresponds...

The study analyses the effect of statutory indemnity on securities class action settlement amounts. This is the first study that we are aware of to focus specifically on the association between directors' and officers' indemnification and securities class action settlement amounts. Corporate...

We propose a methodology that combines simulation and lattice methods to value American Parisian knock-in and knock-out options. Our methodology uses the observation that once the Parisian condition is met, the exercise strategy of a knock-in option is identical to that of a plain vanilla...