Policy uncertainty has been documented to have a significant impact on corporate investment decisions. This paper investigates the effect of policy uncertainty on cross-border acquisitions. We find a significant monotonic relationship between the size of the acquired equity stake in a target...

Bitcoin market capitalization has recently surpassed $1 trillion. According to the popular belief one of the key characteristics of bitcoin is its excessive volatility. This paper provides evidence that high volatility of bitcoin is largely a misperception. We show that bitcoin return...

This paper investigates changes in the speed of adjustment toward target leverage ratio under the impact of COVID-19 economic crisis. Using an international sample of publicly listed firms, we find that, on average, firms tend to adjust their capital structure more rapidly in the period...

Rarely does an idea evoke such intensity of extreme emotions, as in the case of the distributed ledger technology (DLT) and its native digital currency system called Bitcoin. The technology together with its ecosystem was even investigated before the US Senat Committee, where it was strenuously...