Search Results - "Borochin, Paul"

The effects of institutional investor objectives on firm valuation and governance by Borochin, Paul, Yang, Jie

“…We find that ownership by different types of institutional investors has varying implications for future firm misvaluation and governance characteristics…”
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Conditional correlation network data from the financial sector by Borochin, Paul, Rush, Stephen

“…This data set contains rolling conditional correlation networks estimated from stock returns and the volume synchronized probability of informed trading. Only…”
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When Does a Merger Create Value? Using Option Prices to Elicit Market Beliefs by Borochin, Paul A.

“…I introduce and test a method to identify market expectations about value creation in mergers. Postannouncement market prices reflect beliefs about both merged…”
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The effects of conference call tones on market perceptions of value uncertainty by Borochin, Paul A., Cicon, James E., DeLisle, R. Jared, Price, S. McKay

“…Quarterly earnings conference calls convey fundamental information, as well as manager and analyst opinion about the firm. We examine how market uncertainty…”
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The role of the chief legal officer in corporate governance by Bird, Robert C., Borochin, Paul A., Knopf, John D.

“…The CLO shapes and enforces corporate governance, but is faced with a dual-role paradox that requires her to act as both monitor of corporate governance and…”
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The information content of real operating performance measures from the airline industry by Borochin, Paul

“…I use daily passenger flight delay data for all publicly held domestic US airlines from 1996 to 2016 to answer fundamental questions about the efficiency of…”
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Information networks in the financial sector and systemic risk by Borochin, Paul, Rush, Stephen

“…We create and test two novel network-based measures of interconnectedness in the financial industry during 1996 to 2013. A network based on informed trading in…”
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Alternative corporate governance: Domestic media coverage of mergers and acquisitions in China by Borochin, Paul, Cu, Wei Hua

“…A text analysis of domestic Chinese newspaper articles covering 797 proposed domestic mergers shows that the media in developing countries is susceptible to…”
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Belief heterogeneity in the option markets and the cross-section of stock returns by Borochin, Paul, Zhao, Yanhui

“…•Standard deviations of option risk measures help explain cross-section of returns.•This is robust to the levels, vol-of-vol, and other characteristics and…”
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Using options to measure the full value-effect of an event: Application to Obamacare by Borochin, Paul, Golec, Joseph

“…Many event studies only measure a fraction of an event's full value effect because they do not adjust for market anticipation of the event. We present a method…”
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Informed options trading before FDA drug advisory meetings by Wu, Zekun, Borochin, Paul, Golec, Joseph

“…Months before the Food and Drug Administration (FDA) decides to approve or reject a new drug, it often asks committees of drug experts for their…”
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Options, equity risks, and the value of capital structure adjustments by Borochin, Paul, Yang, Jie

“…We use exchange-traded options to identify risks relevant to capital structure adjustments in firms. These forward-looking market-based risk measures provide…”
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Can long-term institutional owners improve market efficiency in parsing complex legal disputes? by Borochin, Paul, Wang, Xiaoqiong, Wei, Siqi

“…Long-horizon institutional investors can help mitigate information asymmetries around securities class action (SCA) lawsuits. We find that the machine…”
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The information content of the term structure of risk-neutral skewness by Borochin, Paul, Chang, Hao, Wu, Yangru

“…We seek to reconcile the debate about the price effect of risk-neutral skewness (RNS) on stocks. We document positive predictability from short-term skewness,…”
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Financial intermediation and informational efficiency: Predicting business cycles by Chatterjee, Ujjal, French, Joseph J., Gurdgiev, Constantin, Borochin, Paul

“…Theory posits that financial intermediation (FI) spurs economic growth and supports financial system stability by reducing informational asymmetries and agency…”
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Target information asymmetry and takeover strategy: Insights from a new perspective by Borochin, Paul, Ghosh, Chinmoy, Huang, Di

“…We examine the relation between information asymmetry and firm value around a merger and acquisition (M&A). Owing to the due diligence and intense scrutiny…”
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The effect of option-implied skewness on delta- and vega-hedged option returns by Borochin, Paul, Wu, Zekun, Zhao, Yanhui

“…We study the relation between option-implied skewness (IS) and the cross-section of option returns under daily hedging to better understand the pricing of…”
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Do managers seek control and entrenchment? by Borochin, Paul, Knopf, John D.

“…A unique dataset of post-IPO thrifts with heterogeneous initial insider ownership allows us to use revealed preferences to determine the level of ownership…”
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A general method for valuing complex capital structures by Borochin, Paul, Kopeliovich, Yaacov, Shea, Kevin

“…•We develop a numerical method to value arbitrarily complex capital structures.•This method handles convertibility, optionality, and sinking fund…”
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Using Option Market Liquidity to Predict REIT Leverage Changes by Borochin, Paul, Glascock, John L., Lu-Andrews, Ran, Yang, Jie

“…Recent literature has shown that liquidity is important in explaining price effects for firms and firm decisions. For example, see Morellec ( Journal of…”
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