We investigate trading activity and liquidity effects of methods of payment on the stock prices of acquiring firms around private firm acquisition announcements. We find significant rises in trading activity around acquisition announcement dates irrespective of the payment method used; however,...

This paper aims to assess the profitability and employees' productivity of Italian innovative start-ups with a new composite index: the Start-ups Performance score (SP-score). In recent years, the Italian government has made several efforts to foster the economy, establishment, and growth of...

Building on the Upper Echelons Theory we investigate the impact of CEO future sightedness on corporate policies and firm performance. We capture CEOs future orientation through an unobtrusive, validated tool of linguistic analysis of textual characteristics expressed by CEOs during 2008-2012...

This paper aims to assess the profitability and employees’ productivity of Italian innovative start-ups with a new composite index: the Start-ups Performance score (SP-score). In recent years, the Italian government has made several efforts to foster the economy, establishment, and growth of...

We exploit European regulatory interventions to investigate the effects of sub-second periodic auctions on market quality under dark trading restrictions. The restrictions are linked to an observable increase in periodic auctions and an economically meaningful loss of liquidity. While periodic...

We investigate the relationship between latency arbitrage and trading via frequent batch auctions (FBA). We show that increases in single and cross-market latency arbitrage opportunities (LAOs) are linked to an economically meaningful increase in FBA activity, which implies that slower traders...