Thèse de doctorat : Università della Svizzera italiana, 2018 ; 2018ECO005.
In my PhD thesis I analyze corporate governance issues of initial public offerings and their subsequent performance. In the first chapter I find that the first-day return of newly issued subsidiary stocks (equity carve-outs) is explained by the reporting distortions in the pre-IPO period, conditioned on whether the executives and directors of the subsidiary received stock options with an...
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Thèse de doctorat : Università della Svizzera italiana, 2014 ; 2014ECO012.
The three chapters of this thesis contribute to the following research questions: (i) What is the role of agency frictions for the performance of mutual funds? (ii) What is the role of market frictions for the performance of hedge funds? (iii) Do hedge funds profit from the behavioral biases of other market participants? The first chapter of this thesis comprises the article "Are Star Funds...
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Thèse de doctorat : Università della Svizzera italiana, 2008 ; 2008ECO006.
The existence of asymmetric information amongst market’s agents determines consequences and behaviour that can impact investors’ decision processes. This thesis is an empirical analysis of some of this consequences. It is composed of three integrated essays. The first two investigate the impact on the firm’s cost of capital and on the firm’s trading liquidity from a reduction in the...
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