This paper investigates the relation between insider trading and the likelihood of insolvency with a specific focus on the directors' sale and purchase transactions preceding insolvency. We use a unique dataset on directors' dealings in 474 non-financial UK firms, of which 117 filed for...

This paper investigates the effect of female directors on financial fraud, focusing on the role of independent female directors and their demographics, such as experience, financial expertise, and audit committee membership. We find that independent female directors have a negative and...

This paper uses stochastic dominance techniques to examine whether managerial skills vary across fund managers in European equity funds. The use of these techniques allows us to compare different investment alternatives in an uncertain setting under very simple assumptions regarding investor...