We provide insights into how the market processes going concern audit opinions based on the trading of some well-documented sophisticated investors—short sellers. We find that abnormal short selling increases significantly upon impending going concern disclosures. While prior literature...

The main purpose of this study is to empirically examine the relationship between uncertainty and idiosyncratic volatility of Nikkei 225 stocks. We conclude that there is a positive relationship between economic policy uncertainty and idiosyncratic volatility. Employing additional uncertainty...