JFQA Admin

JFQA Admin

Time Variation in the News-Returns Relationship

Paul Glasserman, Fulin Li, and Harry Mamaysky ♦ The speed of stock price reaction to news exhibits substantial time variation. Higher risk-bearing capacity of financial intermediaries, lower passive ownership of stocks, and more informative news increase price responses to contemporaneous…

Merger-Driven Listing Dynamics

B. Espen Eckbo and Markus Lithell ♦ Stock-market effectiveness in attracting and retaining firms under public ownership depends not only on stand-alone firms’ net listing benefits but also on gains from merging with a public acquirer. Using a novel merger-adjusted listing count,…

Overlapping Ownership Along the Supply Chain

Kayla M. Freeman ♦ I find overlapping institutional ownership (OIO) in a customer and supplier increases the duration of their supply chain relationship. Results are stronger when vertical holdup is more severe. A quasi-natural experiment around mergers of financial institutions…