The purpose of this monograph is to provide an overview of the IPO literature since 2000.
The fewer numbers of companies going public in recent years has raised many questions …

This chapter surveys the recent empirical literature and adds to the evidence on takeover
bids for US targets, 1980–2005. The availability of machine readable transaction databases …

We study how investor sentiment affects the cross‐section of stock returns. We predict that a
wave of investor sentiment has larger effects on securities whose valuations are highly …

Motivated by the behavior of asset prices, trading volume, and price volatility during
episodes of asset price bubbles, we present a continuous-time equilibrium model in which …

We propose that the decision to pay dividends is driven by prevailing investor demand for
dividend payers. Managers cater to investors by paying dividends when investors put a …

We build a model that helps to explain why increases in liquidity—such as lower bid–ask
spreads, a lower price impact of trade, or higher turnover–predict lower subsequent returns …

We use the information in credit default swaps to obtain direct measures of the size of the
default and nondefault components in corporate spreads. We find that the majority of the …

ABSTRACT I describe asset price dynamics caused by the slow movement of investment
capital to trading opportunities. The pattern of price responses to supply or demand shocks …

We develop a theory of market crashes based on differences of opinion among investors.
Because of short-sales constraints, bearish investors do not initially participate in the market …

Anomalies are empirical results that seem to be inconsistent with maintained theories of
asset-pricing behavior. They indicate either market inefficiency (profit opportunities) or …