Showing 1 - 10 of 117
We study how organizational boundaries affect pricing decisions using comprehensive data from a large U.S. airline. We document that the firm's advanced pricing algorithm, utilizing inputs from different organizational teams, is subject to multiple biases. To quantify the impacts of these...
Persistent link: https://www.econbiz.de/10012696417
We propose an approach to measuring the state of the economy via textual analysis of business news. From the full text content of 800,000 Wall Street Journal articles for 1984{2017, we estimate a topic model that summarizes business news as easily interpretable topical themes and quantifies the...
Persistent link: https://www.econbiz.de/10012479172
of administrative records or by using (as we do) new methods of data generation such as text mining are now common. New … data often requires new methods, which in turn can inspire new data collection. If history is any guide, some methods will …
Persistent link: https://www.econbiz.de/10012479239
with dictionary-based methods), our supervised learning framework constructs a sentiment score that is specifically adapted …
Persistent link: https://www.econbiz.de/10012480131
traditional linking methods. Second, we use the links to construct a training data set for use in supervised machine learning … methods. We describe the procedure we use and illustrate the potential of our approach by linking individuals across the 100 … current frontier for record linking methods …
Persistent link: https://www.econbiz.de/10012480171
The solar industry in the US typically uses a credit score such as the FICO score as an indicator of consumer utility payment performance and credit worthiness to approve customers for new solar installations. Using data on over 800,000 utility payment performance and over 5,000 demographic...
Persistent link: https://www.econbiz.de/10012480230
This paper studies the estimation of asset pricing model regressions with conditional alphas and betas, focusing on the joint effects of data snooping and spurious regression. We find that the regressions are reasonably well specified for conditional betas, even in settings where simple...
Persistent link: https://www.econbiz.de/10012466003
Even though stock returns are not highly autocorrelated, there is a spurious regression bias in predictive regressions for stock returns related to the classic studies of Yule (1926) and Granger and Newbold (1974). Data mining for predictor variables interacts with spurious regression bias. The...
Persistent link: https://www.econbiz.de/10012469566
Big data is revolutionizing the finance industry and has the potential to significantly shape future research in finance. This special issue contains articles following the 2019 NBER/ RFS conference on big data. In this Introduction to the special issue, we define the "Big Data" phenomenon as a...
Persistent link: https://www.econbiz.de/10012496169
Using a novel database that tracks web traffic on the SEC's EDGAR servers between 2004 and 2015, we show that mutual fund managers gather information on a very particular subset of firms and insiders, and their surveillance is very persistent over time. This tracking behavior has powerful...
Persistent link: https://www.econbiz.de/10012452920