after merger announcement, the passage of time is informative about the probability that the merger will ultimately complete …

after merger announcement, the passage of time is informative about the probability that the merger will ultimately complete …

after merger announcement, the passage of time is informative about the probability that the merger will ultimately complete …

We investigate the uncertainty dynamics surrounding extreme weather events through the lens of option and stock markets … by identifying market responses to the uncertainty regarding both potential hurricane landfall and subsequent economic … impact. Stock options on firms with establishments exposed to the landfall region exhibit increases in implied volatility of …

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 …