competition from short sellers. An experiment and instrumental variable analysis confirm this causal relationship. The effects are …

-growth conglomerates with manipulation earn significant alpha of -11% per-annum when accompanied by pessimistic analysts forecast revisions …

provision or cheap talk, and competition inherent to social media may incentivize participants to either process better …, we find evidence that social media can be informative about future stock returns but that competition distorts opinions … rather than encouraging participants to process better information. In particular, competition induces exaggerated negative …

provision or cheap talk, and competition inherent to social media may incentivize participants to either process better …, we find evidence that social media can be informative about future stock returns but that competition distorts opinions … rather than encouraging participants to process better information. In particular, competition induces exaggerated negative …