investors' strategic and active decisions, consequently impounding more systematic information into prices. Their rise creates … potentially heterogeneous effects on liquidity and asset-specific information acquisition/incorporation, depending on the …

information collection affects equity analyst performance. Collection of hard information, proxied by office workday length, is … positively associated with the quantity and timeliness of analyst reports. Soft information collection, as proxied by propensity … star analyst. Both hard and soft information collection improve forecast precision, a causal result that we confirm using …

We examine how sell-side equity analysts strategically disclose information of differing quality to the public versus …-precise information provided to their private clients more valuable. Analysts' say-buy/whisper-sell behavior results in information …

exchange, we identify information leakage from short sellers. Our identification strategy explores trading execution mismatches … and leak that information to their clients. We find evidence that the information leakage is intentional and that brokers …

We investigate how information processing frictions contribute to household suboptimal saving and investment behavior … inefficiency. Such investments yield an expected loss of 9% over the accounts' projected lifetimes. Consistent with information … information processing frictions shape households' suboptimal investment in college savings plans and reduce their financial well-being …