A growing number of studies suggest that common ownership caused cooperation among
firms to increase and competition to decrease. We take a closer look at four approaches …

We quantify the pervasiveness of informed trading activity in target companies' equity
options before the announcements of 1,859 US takeovers between 1996 and 2012. About …

There is sufficient evidence in the popular, legal, and financial literatures that informed
options trading ahead of scheduled and unexpected corporate events is pervasive. In this …

We survey a growing field studying aspects of finance that are potentially illegal, illicit, or
immoral. Some of the literature is investigative in nature to uncover malfeasance that is …

We find that the effects of common ownership vary by a firm's product market characteristics.
Quasi-random increases in common ownership lead to stronger decreases in R&D and …

We examine the impact of social ties between directors (directors or senior managers) of
acquiring firms and their corresponding advisors on several mergers and acquisitions …

Months before the Food and Drug Administration (FDA) decides to approve or reject a new
drug, it often asks committees of drug experts for their recommendations. The experts …

Despite abundant empirical evidence of informed trading ahead of major corporate events,
no such evidence has been reported in the case of corporate spinoff (SP) announcements …

Using a unique data set of dealer-level trading data in bookbuilding initial public offerings
(IPOs), we find strong evidence that lead underwriter trades in IPO firms are significantly …

Material private information transmits through social networks. Using manually collected
information on networks of alumni reunion cohorts, we show that hedge fund managers …