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A\u00a0dispute submission typically brings in unspecified uncertainty and additional risk. The implied volatility of options is shown to reflect such effects. However, nontrivial caution and nonstandard statistical techniques are needed to analyze them appropriately. Artificial options with a\u00a0constant (over time) maturity are introduced to emphasize these effects. A\u00a0panel data representation of artificial implied volatility smiles is used to ensure the overall model flexibility, transparency, and its practical interpretability. Finally, a\u00a0stochastically valid changepoint detection procedure is adopted to reveal significant impacts of an\u00a0investment dispute on the overall riskiness and the stock price evolution. The results show significant impacts of the first tribunal meeting and the first procedural order of\u00a0the\u00a0disputes under consideration.<\/jats:p>","DOI":"10.1007\/s10287-023-00447-1","type":"journal-article","created":{"date-parts":[[2023,3,17]],"date-time":"2023-03-17T09:02:45Z","timestamp":1679043765000},"update-policy":"https:\/\/doi.org\/10.1007\/springer_crossmark_policy","source":"Crossref","is-referenced-by-count":0,"title":["Investment disputes and their explicit role in option market uncertainty and overall risk instability"],"prefix":"10.1007","volume":"20","author":[{"given":"Zden\u011bk","family":"Dr\u00e1bek","sequence":"first","affiliation":[]},{"given":"Milo\u0161","family":"Kopa","sequence":"additional","affiliation":[]},{"given":"Mat\u00fa\u0161","family":"Maciak","sequence":"additional","affiliation":[]},{"given":"Michal","family":"Pe\u0161ta","sequence":"additional","affiliation":[]},{"given":"Sebastiano","family":"Vitali","sequence":"additional","affiliation":[]}],"member":"297","published-online":{"date-parts":[[2023,3,17]]},"reference":[{"key":"447_CR1","doi-asserted-by":"crossref","unstructured":"Barun\u00edk J, Dr\u00e1bek Z, Nevrla M (2021) Investment disputes and abnormal volatility of stocks. 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