This study provides evidence on the disciplinary role of failed takeover attempts. We find that the likelihood of CEO turnover in target firms following failed takeover attempts is 21% greater than non-target firms matched on the basis of industry, past stock returns, size, and market-to-book...

We argue that hedge funds more aggressively buy underpriced stocks when they can short and, as such, protect their stock purchases from industry fluctuations. We utilize the institutional feature in Hong Kong in virtue of which only stocks added to a special list can be shorted. Our first-stage...

Prior to May 22, 2017, trading information displayed on certain days of the week and on days prior to market-closed holidays required investors in Chinese exchange-traded repos to infer repos' actual maturities to place orders at appropriate rates. Repo rates on these days exhibited remarkable...