• Publications
  • Influence
Shareholder-Initiated Class Action Lawsuits: Shareholder Wealth Effects and Industry Spillovers
  • A. Gande, C. Lewis
  • Economics, Business
  • Journal of Financial and Quantitative Analysis
  • 1 August 2009
Abstract This paper documents significantly negative stock price reactions to shareholder-initiated class action lawsuits. We find that shareholders partially anticipate these lawsuits based onExpand
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Bank entry, competition, and the market for corporate securities underwriting
Abstract This paper examines the competitive effects of commercial bank entry into the corporate debt underwriting market, particularly with respect to underwriter spreads, ex-ante yields, and marketExpand
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  • 27
News spillovers in the sovereign debt market
Abstract We study the effect of a sovereign credit rating change of one country on the sovereign credit spreads of other countries from 1991 to 2000. We find evidence of spillover effects; that is, aExpand
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Bank Underwriting of Debt Securities: Modern Evidence
This article examines debt securities underwritten by Section 20 subsidiaries of bank holding companies relative to those underwritten by investment houses. Consistent with a net certificationExpand
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News Spillovers in the Sovereign Debt Market
We study the effect of a sovereign credit rating change of one country on the sovereign credit spreads of other countries from 1991 to 2000. We find evidence of spillover effects, that is, a ratingsExpand
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Are Banks Still Special When There is a Secondary Market for Loans?
When a borrowing firm's existing loans trade for the first time in the secondary loan market, it elicits a significant positive stock price response by the borrowing firm's equity investors. We showExpand
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Valuation effects of global diversification
This paper examines the effect of global diversification on firm value using a data set of US firms from 1994 to 2002. We document that global diversification enhances firm value. Specifically, weExpand
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  • 8
Sovereign Credit Ratings, Transparency and International Portfolio Flows
We examine the response of equity mutual fund flows to sovereign rating changes in a wide sample of countries during the crisis prone years from 1996-2002. We find that Sovereign downgrades areExpand
  • 37
  • 6
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Why Do U.S. Securities Laws Matter to Non-U.S. Firms? Evidence from Private Class-Action Lawsuits
  • A. Gande, Darius P. Miller
  • Business
  • 15 March 2012
A continuing controversy is whether U.S. securities laws are enforced against foreign firms, since public enforcement actions by the SEC are infrequent and often result in insignificant penalties. WeExpand
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CEO Compensation and Risk-Taking at Financial Firms: Evidence from U.S. Federal Loan Assistance
We examine whether risk-taking among the largest financial firms in the U.S. is related to CEO equity incentives before the 2008 financial crisis. Using data on U.S. Federal Reserve emergency loansExpand
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