We investigate how firm-specific certification practices through corporate governance can reduce perceived ambiguity and thus enhance liquidity of a firm in the stock market. We show that better corporate governance helps reduce ambiguity. In addition, a reduction in ambiguity is significantly...

Even though financial markets have become more integrated and international capital now moves more freely across borders, we argue that access to foreign equity investments still remains a political decision, and this policy decision is a function of the country's nationalistic and militaristic...

This article investigates the impact of political uncertainty and abnormal market conditions on institutional trading behavior. The study finds that institutional investors are net buyers during abnormal market decreases and net sellers during abnormal market increases. Institutional investors'...

Research on financial misconduct uses data on enforcement outcomes, such as the penalties that the firm pays. The distribution of most enforcement outcomes shows extreme observations or outliers, but you wouldn't necessarily glean that by a casual examination of some of the leading research on...

As in most academic fields, the top academic finance departments and journals guide the direction of scholarly research. Preferences, tastes, and sensibilities of the faculty at the top finance departments and the editorial boards at top finance journals can have a considerable effect on the...

This study examines whether the coauthors of executive editors of the Review of Financial Studies published more papers during the editor’ tenure. The paper finds that not all executive editors are created equal concerning their impartiality toward their coauthors. The results show that George...