... Limited 2026 Emerald Publishing Limited Licensed re-use rights only Market efficiency Lending fees Spinoff uncertainty Forward pricing Options Arbitrage G12 G14 G40 A bedrock principle of modern financial economics is the efficiency of market pricing and the absence...

... assets Borrowing Margin Short selling Options Futures Restricted securities Performance Risk Risk compensation G11 G23 Since 2000, there has been a rise in the complexity of mutual funds as more funds have been given the authority to use derivatives, leverage, and illiquid assets...

...George M. Constantinides; Michal Czerwonko; Jens Carsten Jackwerth; Stylianos Perrakis Constantinides and Perrakis (2002, 2007 ) derive a lower bound on the price of an option such that an investor increases her utility by buying the option at the ask price if the ask price is lower than the lower...

... are unexpected, and are also associated with a positive price jump in the parent company’s stock. Using a sample of 280 US announcement events from 1996 to 2013, we document significant pre-announcement informed trading activity in options for about 9 to 16% of events in our sample. In contrast, we find...