We investigate stock option exercise decisions by over 50,000 employees at seven corporations. Controlling for economic factors, psychological factors inuence exercise. Consistent with psychological models of beliefs, employees exercise in response to stock price trends—exercise is positively related to stock returns during the preceding month and negatively related to returns over longer hori...

In many emerging stock markets, price limits are imposed on the magnitude of daily price movements. Price limit advocates claim that such limits serve as "circuit breakers" and decrease stock price volatility. Critics argue that the limits cause supply and demand imbalances in trading. Consequently, they prevent immediate corrections in price and increase the volatility of the opening return on...

Article terms can move stock prices. By analyzing verbs in financial news articles and coupling their usage with a discrete machine learning algorithm tied to stock price movement, we can build a model of price movement based upon the verbs used, to not only identify those terms that can move a stock price the most, but also whether they move the predicted price up or down.

T he two major types of securities are stocks and bonds. A share of stock represents partial ownership of a company with an uncertain payoff which depends on the success of the specific business. Bonds, on the other hand, are loans which must be repaid except in cases of default; they can be issued either by governments or by business. Modern financial markets offer many other instruments besid...

In this study, we examine the effects of manager's perspectives on climate change stock price crash risk. The analysis confirms that perspective is negatively associated with future risk likelihood. Various channel tests show investor attention and analyst coverage are potential channels through which a firm's improves financial stability ultimately reduces Our results also robust to alternativ...

This paper takes China Shanghai and Shenzhen A-share listed companies from 2007 to 2021 as samples empirically test the impact of major shareholder reduction on risk stock price crash. finds that shareholders promotes crash companies, is, compared with without shareholders’ reduction, is higher, this conclusion still holds after controlling conservative factors. Further examination shows shareh...

The purpose of this study is to explain the relationship between the comparability of financial statements as a qualitative financial reporting feature with the expected risk of stock price crash. The statistical population of this research includes all companies admitted to Tehran Stock Exchange. In order to achieve the research goal, 81 companies were selected for the period between 2010 and ...