This paper aims to investigate the impact of blockchain on the quality of the information in listed and non-listed companies in Iraq; the temporal scope of this study is 2022. The statistical population of this research is divided into two parts: one part is related to the level of familiarity...

Using a large sample of collateralized loan obligation (CLO) portfolios, we examine the role of borrowers’ information quality in corporate loan securitization. We find that all else equal, CLO managers prefer loans from firms with high information quality. This effect is stronger when...

When considering whether or not to buy a product, the consumer can often evaluate different attributes of it. Due to limited attention, the consumer often can only search for information about one attribute at a time. Assuming that a product has two attributes, we study the optimal search...

During the spread of an infection, agents need to trade off the health costs of getting infected and the economic costs of taking protective actions. An agent’s health cost depends on the action of everyone in the society, leading to a game among agents with strategic substitutes. We study the...

Research documents price comovements or “spillovers” between focal firms and peer firms at focal-firm-earnings announcements. We find signed and absolute comovements between focal-firm and peer-firm returns are significantly lower at earnings-announcement dates compared to non-announcement...

This paper examines the change in expected future electric power prices as market participants became aware of COVID-19. Using an extension of the framework developed by Fama and French (1987), we recover future spot price expectations based on information embedded in prices of futures contracts...

We study whether bond markets efficiently incorporate information about risk. Our results suggest that bond investors underreact to risk information embedded in earnings announcements. A one-standard deviation increase in unexpected risk is associated with a three-day abnormal bond return about...

This study identifies bold target forecasts as those far deviate from the consensus target and the actual stock price. Analysts’ bold forecasts exert substantial price drifts larger than the impacts caused by non-bold forecasts. The abnormal returns caused by bold pessimistic forecasts are...

Research assigns significant share price relevance to linguistic tone in earnings conference calls. Tone is, however, only one facet in the mosaic of the soft information that is disseminated in the interactive conference call setting. We argue that investors exploit further aspects of this soft...