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View article: Exploratory Innovation: A New Perspective on Family Firms' Under-diversification Puzzle
Exploratory Innovation: A New Perspective on Family Firms' Under-diversification Puzzle Open
View article: When Rights Can’t Be Traded: Virtue or Vice in Governance?
When Rights Can’t Be Traded: Virtue or Vice in Governance? Open
View article: When Talent Walks: Skilled Labor Mobility and Bank Behavior
When Talent Walks: Skilled Labor Mobility and Bank Behavior Open
View article: The Bright Side of Asset Complexity: Evidence from Corporate Bond Markets
The Bright Side of Asset Complexity: Evidence from Corporate Bond Markets Open
View article: Stewardship Theatre and Political Catering with Congress
Stewardship Theatre and Political Catering with Congress Open
View article: Repurchases for Price Impact: Evidence from Fragile Stocks
Repurchases for Price Impact: Evidence from Fragile Stocks Open
We highlight an important but overlooked characteristic of financial fragility: “Fragile” stocks command higher liquidity. This reduces their sensitivity to corporate actions with price impact and affects the firms’ incentives to engage in…
View article: Data Specialists and Market Efficiency
Data Specialists and Market Efficiency Open
View article: The Early Bird Catches the Worm: How Lasting is the Value of New, Alternative Data?
The Early Bird Catches the Worm: How Lasting is the Value of New, Alternative Data? Open
View article: The Early Bird Catches the Worm: How Lasting is the Value of New, Alternative Data?
The Early Bird Catches the Worm: How Lasting is the Value of New, Alternative Data? Open
View article: Dark and Bright Sides of Rights Offers
Dark and Bright Sides of Rights Offers Open
View article: Political Affinity and Mutual Fund Voting
Political Affinity and Mutual Fund Voting Open
View article: An Automated Design Flow for Adaptive Neural Network Hardware Accelerators
An Automated Design Flow for Adaptive Neural Network Hardware Accelerators Open
View article: Corporate Bond Complexity
Corporate Bond Complexity Open
View article: Local Labor Market Competition and Capital Structure Decisions
Local Labor Market Competition and Capital Structure Decisions Open
View article: Can Alcohol Facilitate Information Manipulation in China? A Social Norm Perspective
Can Alcohol Facilitate Information Manipulation in China? A Social Norm Perspective Open
View article: Is Human-Interaction-based Information Substitutable? Evidence from Lockdown
Is Human-Interaction-based Information Substitutable? Evidence from Lockdown Open
We study information substitutability in the financial market through a quasi-natural experiment: the pandemic-triggered lockdown that has hampered people's physical interactions and hence the ability to collect, process, and transmit huma…
View article: International asset pricing with strategic business groups
International asset pricing with strategic business groups Open
View article: Informed Trading and Co-Illiquidity
Informed Trading and Co-Illiquidity Open
View article: The Bright Side of Financial Fragility
The Bright Side of Financial Fragility Open
View article: To Target a Date or Not to Target a Date? That is the Question: The Unintended Consequences of Investing for the Long Run
To Target a Date or Not to Target a Date? That is the Question: The Unintended Consequences of Investing for the Long Run Open
View article: Tax Evasion and Market Efficiency: Evidence from the FATCA and Offshore Mutual Funds
Tax Evasion and Market Efficiency: Evidence from the FATCA and Offshore Mutual Funds Open
View article: Governance by Constraint: The Corporate Governance Implications of an Anomaly
Governance by Constraint: The Corporate Governance Implications of an Anomaly Open
View article: First to “Read” the News: News Analytics and Algorithmic Trading
First to “Read” the News: News Analytics and Algorithmic Trading Open
Exploiting a unique identification strategy based on inaccurate news analytics, we document an effect of news analytics on the market independent of the informational content of the news. We show that news analytics speed up the stock pric…
View article: First to "Read" the News: New Analytics and Algorithmic Trading
First to "Read" the News: New Analytics and Algorithmic Trading Open
Exploiting a unique identification strategy based on inaccurate news analytics, we document a causal effect of news analytics on the market irrespective of the informational content of the news. We show that news analytics speed up the sto…
View article: Securities Lending and Corporate Financing: Evidence from Bond Issuance
Securities Lending and Corporate Financing: Evidence from Bond Issuance Open
View article: Does Financial Globalization Propagate Managerial Skills? Lessons from the Mutual Fund Industry
Does Financial Globalization Propagate Managerial Skills? Lessons from the Mutual Fund Industry Open
View article: The Effects of Global Leniency Programs on Margins and Mergers
The Effects of Global Leniency Programs on Margins and Mergers Open
View article: Why Do Short Sellers Like Qualitative News?
Why Do Short Sellers Like Qualitative News? Open
Short sellers trade more on days with qualitative news, that is, news containing fewer numbers. We show that this behavior is not informationally motivated but can be explained by short sellers exploiting higher liquidity on such days. We …
View article: Mergers and Acquisitions and the Value of Control
Mergers and Acquisitions and the Value of Control Open
We study how value affects the bargaining game in the market for corporate control. We focus on business groups and propose a novel approach in which we can directly quantify the difference in value between what the buyer gets and what the…
View article: Behavioral Bias in Haze: Evidence from Air Pollution and the Disposition Effect in China
Behavioral Bias in Haze: Evidence from Air Pollution and the Disposition Effect in China Open