This study investigates whether corporate diversification in Thailand led to value creation or destruction. The evidence shows that, like studies in developed countries, companies listed on the Stock Exchange of Thailand (SET), on average, experience a value loss of more than 10% through their...

This study shows that prospect value influences insider-trading decisions, and the impact is stronger among female executives' trades. Insiders who buy (sell) when their company's prospect value is above (below) other firms' prospect values lose 34 (12) basis points over the next month. Female...

We examine the role of employee stock option plans (ESOPs) in mitigating agency problems in New Zealand firms. We find that ESOPs have a significant and positive effect on firm performance relative to their non-ESOP counterparts. This relation appears within a year from the first ESOP...