We introduce Implied Volatility Duration (IVD) as a new measure for the timing of uncertainty resolution, with a high … average more than five percent return per year as a compensation for a late resolution of uncertainty. In a general … a preference for early resolution of uncertainty. Our empirical analysis thus provides a purely market-based assessment …

study demonstrates that idiosyncratic volatility and stock returns relation is quantile dependent. The relation between … idiosyncratic volatility and stock returns is parabolic. The high idiosyncratic risk is associated with high (low) excess returns at … idiosyncratic volatility and the stock returns relation in the literature …