This paper presents empirical evidence that trading in options contributes to both transactional
and informational efficiency of the stock market by reducing the effect of constraints on …

An unusually high number of Nasdaq National Market stocks were reverse split following the
decline in Nasdaq prices in the year 2000. We test whether these splits were driven by the …

This paper examines the risks and returns of Latin American stocks following American
depository receipt (ADR) listings in US equity markets and finds no systematic change in their …

Before an exchange listing, stock performance is exceptionally high. Earlier research reports
that post‐listing performance is poor. I document that the post‐listing performance of most …

In this paper, we apply the method for removing the upward bias in returns in equally-weighted
return indexes developed by Fisher, Weaver, and Webb (2010) to REIT stocks in the US. …

After controlling for market volume trends and differences in volume measurement between
the Nasdaq and the exchanges, we find that mean trading volumes increase significantly for …

We document a significant increase in Nasdaq trading volume relative to New York Stock
Exchange (NYSE) and American Stock Exchange (AMEX) trading volumes. Although recent …

We analyze the impact of regulation and option introduction on the price effects of secondary
equity offerings before and after options are introduced on the underlying stocks. After …

This paper examines the risks and returns of Latin American stocks following American
depository receipt (ADR) listings in US equity markets and finds no systematic change in their …

Short sales of common stock are effectively prohibited for some institutional investors, and
they are restricted for many other investors. The theoretical and empirical effects on stock …