A firm seeks to raise capital in credit markets to fund risky operating activities. The firm has private information about the future cash flows from such activities. Firm owners delegate operating decisions to a manager who privately learns further information about the distribution of those...

Commissioned by the European Commission, the Final Report for the EU-Canada Sustainability Impact Assessment (SIA) on the EU-Canada Comprehensive Economic and Trade Agreement (CETA) provides a comprehensive assessment of the potential impacts of trade liberalisation under CETA. The analysis...

Fraud is an ancient crime and one that annually causes hundreds of billions of dollars in losses. We examine the behavioral patterns over time of different types of frauds, which illustrate cyclical frequencies. We develop an evolutionary theory that suggests cyclic behavior in frauds should be...

This thesis examines the association between insider trade behavior and participation within Rule 10b5-1 trade plans to provide evidence about how insiders respond to regulation that reduces litigation risk and how the Rule affects insiders informed trade profits. Rule 10b5-1 includes a safe...

Managers have the ability to time the disclosure of the non-cash component of earnings, which, is termed accrual information, to outside investors. They have the choice of disclosing accrual information at the earnings announcement or waiting until the filing date. This thesis examines whether...

In the first essay, we study the following question: If the provision of public good is financed by property (wealth or endowment) taxes,what is the optimal tax mechanism when agents have private information about his own endowment?Employing the state-dependent implementation model, under...