I use the stock price reaction to sudden, unexpected senior executive (Chairman, CEO or President) deaths to study managerial entrenchment. If a highly effective manager dies unexpectedly, the stock price reaction should be negative. If however death removes an entrenched manager when the board...

In many markets, changes in the spot price are partially predictable. We show that when this is the case: 1) although unbiased, traditional regression estimates of the minimum variance hedge ratio are inefficient, 2) estimates of the riskiness of both hedged and unhedged positions are biased...

We examine the stock market's valuation of firms that disclose related party (RP) transactions compared to those that do not. We examine market values just prior to the Sarbanes-Oxley Act (SOX) ban on RP loans to evaluate the market's perception of firms with RP transactions prior to regulatory...