This volume was written in honor of Wendell H. Fleming, a mathematician who has made fundamental contributions in the fields of calculus of variations, geometric measure theory, differential games, stochastic control theory, and population genetics. This book includes authoritative expositions...

We examine the relation between the probability of future stock price crash and investors’ investment horizons. Using negative skewness as a proxy for firm-specific crash risk, we document a positive association between institutional ownership and stock price crash risk. The relation is,...