Can Mutual Fund “Stars” Really Pick Stocks? New Evidence from a Bootstrap Analysis
ROBERT KOSOWSKI, ALLAN TIMMERMANN, RUSS WERMERS,and HAL WHITE

Political Connections and Corporate Bailouts
MARA FACCIO, RONALD W. MASULIS, and JOHN J. MCCONNELL

A Theory of Pyramidal Ownership and Family Business Groups
HEITOR V. ALMEIDA and DANIEL WOLFENZON

Optimal Security Design and Dynamic Capital Structure in a Continuous-Time Agency Model
PETER M. DEMARZO and YULIY SANNIKOV

Does the Contribution of Corporate Cash Holdings and Dividends to Firm Value Depend on Governance? A Cross-country Analysis
LEE PINKOWITZ, REN´E STULZ, and ROHAN WILLIAMSON

Estimating the Gains from Trade in Limit-Order Markets
BURTON HOLLIFIELD, ROBERT A. MILLER, PATRIK SANDAS,and JOSHUA SLIVE

Trading Volume: Implications of an Intertemporal Capital Asset Pricing Model
ANDREW W. LO and JIANG WANG

Model Uncertainty and Option Markets with Heterogeneous Beliefs
ANDREA BURASCHI and ALEXEI JILTSOV

Information, Trading, and Volatility: Evidence from Weather-Sensitive Markets
JEFF FLEMING, CHRIS KIRBY, and BARBARA OSTDIEK

Insider Trading, News Releases, and Ownership Concentration
JANA P. FIDRMUC, MARC GOERGEN, and LUC RENNEBOOG

When Financial Institutions Are Large Shareholders: The Role of Macro Corporate Governance Environments
DONGHUI LI, FARIBORZ MOSHIRIAN, PETER KIEN PHAM,and JASON ZEIN

Analyst Coverage and Financing Decisions
XIN CHANG, SUDIPTO DASGUPTA, and GILLES HILARY

Tax-Loss selling and the January Effect: Evidence from Municipal Bond Closed-End Funds
LAURA T. STARKS, LI YONG, and LU ZHENG

Derivative Pricing 60 Years before Black–Scholes: Evidence from the Johannesburg Stock Exchange
LYNDON MOORE and STEVE JUH

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