We study financial reporting and corporate governance in 218 companies accused of price fixing. These firms engage in evasive financial reporting strategies, including earnings smoothing, segment reclassification, and restatements. In corporate governance, cartel firms favor outside directors...

In this paper, we investigate how share restrictions affect hedge fund performance in crisis and non-crisis periods. Consistent with prior research, we find that more illiquid funds produce both higher returns and alphas in the pre-crisis period. Hence, funds generate a share illiquidity premium...

Economies of scope in financial intermediation continue as a focal point in strategic and regulatory debates. In this paper, we summarize the theoretical research on the value of diversification in financial services firms, and survey the empirical research so far on the conglomerate discount in...

In this paper, we test alternative feature selection methods for bankruptcy prediction and illustrate their superiority versus popular models used in the literature. We test these methods using a comprehensive dataset of more than one million financial statements from privately held Norwegian...