We analyze whether industry competition is an important factor in analyst coverage decisions and whether analysts benefit from covering product market competitors. We find that analysts are more likely to cover a firm when this firm competes with and offers more similar products to the firms...

We use information from product descriptions in firm 10-Ks to analyze whether product market competition influences analysts' decisions to cover firms, the accuracy and consistency of their earnings reports and their likelihood of obtaining Analyst All-Star status. We find that a firm's analyst...

Established findings suggest that strategic inventory may alleviate double marginalization and improve the efficiency of a decentralized distribution channel. In this paper, we examine the effect of strategic inventory in the presence of chain-to-chain competition. We show that as the...

We introduce systematic tests exploiting robust statistical and behavioral patterns in trading to detect fake transactions on 29 cryptocurrency exchanges. Regulated exchanges feature patterns consistently observed in financial markets and nature; abnormal first-significant-digit distributions,...

The development of new energy sources is imminent for solving the crucial problems in resources and environment fields. Due to national resource endowment, the consumption of energy in developing countries is inevitably increasing. This paper predicts new energy electricity generation for...

We examine the effect of competition shocks induced by major industry-level tariff cuts on forced CEO turnover. Both the likelihood of forced CEO turnover and its sensitivity to performance increase, particularly for firms with low productivity and high default risk. While CEO's incentive pay...

In establishing the foundation of their investment process, global equity investors typically adopt a framework along geographic and/or industry dimensions. The chosen framework is then applied to the whole investment process including alpha generation, portfolio construction, and risk...

Real earnings management (REM) practices are related to subsequent stock returns. Specifically, stocks of firms with abnormally low (high) levels of operating cash flows underperform (outperform) in the subsequent year, whereas stocks of firms with abnormally low (high) levels of production...