An important lesson of behavioralist research is that individuals' perceptions and preferences are highly manipulable. This article presents empirical evidence of market manipulation, a previously unrecognized source of market failure. It surveys extensive qualitative and quantitative marketing...

Allegations of market manipulation abound in the popular press, particularly during the recent financial turmoil. However, many aspects of manipulation are poorly understood. The purpose of this thesis is to enhance our understanding of market manipulation by providing empirical evidence on the...

This dissertation consists of two essays on corporate finance. Essay one examines whether corporate governance affects firm performance after capital investments. I find that among firms with weak corporate governance, those with high abnormal capital investments have significantly lower stock...

This thesis contributes to the literature by providing new insights into the patterns and market implications of insider trading. The inferences presented here are based on the insider trading reports filed with the Polish Securities and Exchange Commission and the New Zealand Exchange. First,...

Corporate governance aims to reduce expropriation of investors by managers. This thesis identifies and empirically examines three corporate governance mechanisms: cross-listing in the United States, close bank-firm relationships in Germany and corporate ownership structure in an emerging market....

Recent univariate seasoned equity offering (SEO) research investigates the valuation impact from the change in inside ownership levels that occurs when insiders use SEOs to lower their ownership levels. We extend this research by investigating if the change in inside ownership levels is a...

Purpose – This study aims to examine the extent to which UK directors failed to report their share trading in the timeframe required by extant regulations in the run-up to the changes in insider trading law contained in the Financial Services and Markets Act. Design/methodology/approach –...

The paper examines three hypotheses about the effect of insider trading on the market response to new financing announcements (NFAs) using a sample of disclosures made by UK firms between 1989 and 1991. The study demonstrates first that no systematic relationships exist between the market...

Insider trading may convey information to the market and promote accuratepricing of stocks. In this dissertation, I investigate insider trading at the turn of thecentury.In the first essay, I investigate insider trading activity in technology stocks duringthe high price - high volatility period...

This dissertation investigates insider trading around significant corporate information events. Chapter 1 tests the prediction of standard option pricing models that there is no relation between past stock returns and stock option prices. Using individual stock options data, we show that puts...