The offering prices of 64 issues of a popular retail structured equity product were, on average,
almost 8% greater than estimates of the products' fair market values obtained using option …

We examine the extent to which firms from different countries rely on alternative sources of
capital, the locations in which they raise capital, and the factors that affect these choices. …

This paper uses a novel dataset of commodity-linked notes (CLNs) to examine the impact of
the flows of financial investors on commodity futures prices. Investor flows into and out of …

The properties of all materials at one atmosphere of pressure are controlled by the configurations
of their valence electrons. At extreme pressures, neighboring atoms approach so close …

Exchange-traded funds (ETFs) provide investors with a single, tradable security for gaining
exposure to an index that presumably proxies for an asset class. In the US alone, ETF assets …

This study examines the role of repeat interactions between placement agents (investment
banks) and investors in the initial pricing of convertible bonds. Under the assumption that …

We find evidence consistent with previously unrecognized market manipulation by broker-dealers.
Specifically, we show that pre-trade hedging, which is distinct from front-running, …

The ability to create securities providing state-contingent payoffs tailored to specific investors
seems conducive to improving allocative efficiency. But if some investors assign incorrect …

We use retail structured equity product (SEP) issuances to construct a new sentiment measure
for large capitalization stocks. The SEP sentiment measure predicts negative abnormal …

Structured equity products (SEP's) are medium-term notes with payoffs based on the prices
of common stocks, baskets of stocks, or stock indices. This paper documents striking patterns …