Research on mergers and hedge funds find that the risk arbitrage spread has contracted. This paper investigates the role financial analysts have on risk arbitrage by comparing mergers where a single analyst covers both the target and the acquirer prior to the deal announcement. We find that...

We extend the literature by investigating whether analysts cater their coverage to investor information demand. Results suggest that analysts' coverage is contemporaneously positively associated with investor information demand, and negatively associated with the previous time periods...

This paper investigates whether political orientation has an influence on residential real estate returns in the context of the Covid-19 pandemic. Using county level housing data from January to June 2020, we document that the Democratic counties and the counties with higher prosocial scores...

We find a significant price premium ($21,000+ per house on average) for houses with energy-saving (green) features. Using hand-collected data to estimate the house-specific NPV of individual green features, we find that the economic value of green feature(s) cannot explain the green price...

We find a significant price premium ($21,000+ per house on average) for houses with energysaving (green) features. Using hand-collected data to estimate the house-specific NPV of individual green features, we find that the economic value of green feature(s) cannot explain the green price...

We investigate the effect of corporate executives’ connections with financial media on analyst forecast optimism. We propose two hypotheses on the impact of financial media connections: information efficiency and manipulation. Consistent with the manipulation hypothesis, our results suggest...