Purpose: The purpose of this paper is to investigate the interaction between mandatory disclosures and voluntary disclosures of banks and ...

Friesen et al. demonstrate that investor heterogeneous beliefs affect option prices and explain the risk neutral skewness. Following their study, ...

We investigate the cross-sectional relation between the option-implied volatility smile and heterogeneous beliefs in a sample with 2,773 firms from ...

We study the relationship between stock returns and the implied volatility smile slope of call and put options. Stocks with ...

In this paper, we examine relations between a bank's dividend payouts and stock and option holdings of the top five ...

Manuscript Type: Empirical Research Question/Issue: This study examines US firms' share repurchases during 1997-2006 to determine what factors are associated ...

This study tests whether belief differences affect the cross-sectional variation of risk-neutral skewness using data on firm-level stock options traded ...

Purpose - The purpose of this paper is to examine whether commercial banks manage earnings through their use of Level ...

Purpose – The purpose of this paper is to show how recent capital gains affect ex-dividend stock pricing. Traditional models ...

We examine the impact of the 2003 dividend tax cut, which removes the differential taxation between dividends and capital gains ...