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The Informational Effects of Non-Deal Roadshows

Description: Non-deal roadshows (NDR) are privately held one-on-one meetings between the buy-side of financial institutions and firm management. Using a novel dataset of these meetings, I examine the effects that NDR meetings have on the outcomes of two important corporate events: seasoned equity offerings (SEOs) and mergers and acquisitions (M&As). I also study the potential implications of the information content in NDRs on the behavior of stock returns following earnings announcements, which has been th… more
Date: August 2022
Creator: Howell, Dylan A.
Item Type: Refine your search to only Thesis or Dissertation
Partner: UNT Libraries
open access

How is the Volatility Priced by the Stock Market?

Description: Traditional portfolio theory suggests that, in equilibrium, only the market risk is priced in the cross-section of expected stock returns. However, if the market is not perfect and investors are constantly changing investing behaviors based on their perceptions about future market outlook, then non-traditional risk factors could potentially provide significant power of describing the expected stock returns. This dissertation has two essays on the pricing of volatility, in which the market is no… more
Date: August 2020
Creator: Yu, Huaibing
Item Type: Refine your search to only Thesis or Dissertation
Partner: UNT Libraries

Three Essays on Size Premium Puzzle

Description: Size premium puzzle, also known as the size effect, is one of the most studied anomalies in asset pricing literature. It refers to the observation that, on average, smaller firms have higher risk-adjusted returns than larger firms over a long period of time. While many studies have debated the existence of the size effect, the question of why it exists has become a subject of heated debate. Thus, this dissertation aims to examine if previously overlooked factors can, at least partially, explain… more
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Date: August 2022
Creator: Ghimire, Ashish
Item Type: Refine your search to only Thesis or Dissertation
Partner: UNT Libraries
open access

The Two Sides of Value Premium: Decomposing the Value Premium

Description: Scholars and investors have studied the value premium for several decades. However, the debate over whether risk factors or biased market participants cause the value premium has never been settled. The risk explanation argues that value firms are fundamentally riskier than growth firms. At the same time, the behavioral explanation argues that biased market participants systematically misprice value and growth stocks. In this paper, I use the implied cost of equity capital to capture all risks … more
Date: August 2020
Creator: Xu, Hanzhi
Item Type: Refine your search to only Thesis or Dissertation
Partner: UNT Libraries
open access

Enterprise Risk Management and Firm Operations: Evidence from Inventory Management

Description: Enterprise Risk Management (ERM) is a program that manages all firm risks in an integrated framework to control and coordinate offsetting risks. In this study, I provide the first archival evidence on how ERM affects firms' day-to-day, routine operations. Using hand-collected ERM adoption data and inventory information, I examine whether firms with an ERM program experience an improvement in their inventory management. My findings suggest that ERM adoption is associated with greater inventory t… more
Date: August 2021
Creator: Shadaei, Mehdi
Item Type: Refine your search to only Thesis or Dissertation
Partner: UNT Libraries
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