Similar Search Results

Glass Box Machine Learning and Corporate Bond Returns

Bell, Sebastian; Kakhbod, Ali; Lettau, Martin; Nazemi, … - National Bureau of Economic Research - 2024

Machine learning methods in asset pricing are often criticized for their black box nature. We study this issue by predicting corporate bond returns using interpretable machine learning on a high-dimensional bond characteristics dataset. We achieve state-of-the-art performance while maintaining...

Persistent link: https://www.econbiz.de/10015171721

Policy Interventions and China's Stock Market in the Early Stages of the COVID-19 Pandemic

Davis, Steven J.; Liu, Dingqian; Sheng, Xuguang; Wang, Yan - National Bureau of Economic Research - 2025

China's stock market greatly outperformed other national markets during the first several months of the COVID-19 … to us provides a ready explanation for the extraordinary performance of China's stock market in the first half of 2020 …. This performance is even more striking in hindsight, given later developments in China's economy and stock market …

Persistent link: https://www.econbiz.de/10015326478

Pricing the Priceless : The Financial Cost of Biodiversity Conservation

Chen, Fukang; Chen, Minhao; Cong, Lin William; Gao, Haoyu; … - National Bureau of Economic Research - 2024

The pace of biodiversity loss requires drastic shifts in conservation efforts that carry substantial costs. We investigate how the financial market prices such conservation costs exploiting the "Green Shield Action," a major regulatory initiative launched by the Chinese central government in...

Persistent link: https://www.econbiz.de/10014635706

Do Sell-Side Analysts Say "Buy" While Whispering "Sell"?

Hirshleifer, David; Shi, Yushui; Wu, Weili - National Bureau of Economic Research - 2022

We examine how sell-side equity analysts strategically disclose information of differing quality to the public versus the buy-side mutual fund managers to whom they are connected. We consider cases in which analysts recommend that the public buys a stock, but some fund managers sell it. We...

Persistent link: https://www.econbiz.de/10013210060

Movies

Michalopulos, Stelios; Rauh, Christopher - National Bureau of Economic Research - 2024

Why are certain movies more successful in some markets than others? Are the entertainment products we consume reflective of our core values and beliefs? These questions drive our investigation into the relationship between a society's oral tradition and the financial success of films. We combine...

Persistent link: https://www.econbiz.de/10014512074

Aggregate Shocks and the Formation of Preferences and Beliefs

Giuliano, Paola; Spilimbergo, Antonio - National Bureau of Economic Research - 2024

A growing body of work has shown that aggregate shocks affect the formation of preferences and beliefs. This article reviews evidence from sociology, social psychology, and economics to assess the relevance of aggregate shocks, whether the period in which they are experienced matters, and...

Persistent link: https://www.econbiz.de/10014635632

Money Isn't Everything : Estimating the Prestige Value of Winning Cutthroat Kitchen from Overbidding in Sabotage Auctions

Snyder, Meg; Bragen, Daniel; Rousu, Matthew C.; Snyder, … - National Bureau of Economic Research - 2024

We seek to estimate the prestige value of winning beyond monetary prizes in Cutthroat Kitchen, a cooking show in which dishes are judged in a series of elimination rounds, with the twist that action is periodically paused to auction sabotages against rivals. We estimate the distribution of...

Persistent link: https://www.econbiz.de/10014468270

Separation of Church and State Curricula? Examining Public and Religious Private School Textbooks

Adukia, Anjali; Harrison, Emileigh - National Bureau of Economic Research - 2025

Curricula impart knowledge, instill values, and shape collective memory. Despite growing public funding for religious schools through U.S. school choice programs, little is known about what they teach. We examine textbooks from public schools, religious private schools, and home schools,...

Persistent link: https://www.econbiz.de/10015409821

Das (Wasted) Kapital : Firm Ownership and Investment Efficiency in China

Dollar, David - 2007

Based on a survey that we designed and that covers a stratified random sample of 12,400 firms in 120 cities in China … regions and sectors. By our calculation, if China succeeds in allocating its capital more efficiently, it could reduce its …

Persistent link: https://www.econbiz.de/10012465551

Asset Pricing in a Low Rate Environment

Azinović, Marlon; Cole, Harold L.; Kubler, Felix - National Bureau of Economic Research - 2023

We examine asset prices in environments where the risk-free rate lies considerably below the growth rate. To do so, we introduce a tractable model of a production economy featuring heterogeneous trading technologies, as well as idiosyncratic and aggregate risk. We show that allowing for the...

Persistent link: https://www.econbiz.de/10014436963