We find that bidders are more likely to hold conference calls at merger announcements when the mergers are financed with stock and when the transactions are large. After controlling for endogeneity, we also find that conference calls are associated with more favorable market reactions to merger...

We find that bidders are more likely to hold conference calls at merger announcements when the mergers are financed with stock and when the transactions are large. After controlling for endogeneity, we also find that conference calls are associated with more favorable market reactions to merger...

Under semi-strong market efficiency future returns are unpredictable from previously released information. We test the degree of semi-strong form market efficiency in the credit default swap (CDS) market by examining the relationship between subsequent CDS returns and previously announced...

We use high frequency consumer perception data to conduct the first event study of consumers’ perceptual responses to earnings announcements. We find that consumers’ attention to brands is heightened around earnings announcements. Moreover, we document that the change in consumers’ overall...

Approximately 90 percent of managers' earnings forecasts are issued simultaneously with their firm's current earnings announcement – a practice referred to as the “bundling” of earnings information. We examine whether managers bias these forecasts conditional on the news conveyed in...