We estimate the profitability of global index-level trading strategies formed on daily weather conditions across 49 countries. We use pre-market weather conditions (sunshine, wind, rain, snow, and temperature) and the statistical relationship between weather and returns to predict index returns...

We hypothesize that employee flexibility enhances firm value by helping firms respond to exogenous shocks. We estimate employee flexibility scores through textual analysis of online job reviews, and find a high flexibility score leads to superior stock returns for firms exposed to external risk....

We hypothesize that weather's emotional effects depend on climate and season, and examine the relation between weather (sunshine, wind, rain, snow, and temperature) and index returns separately for each region (cold, hot, and mild countries) and month. We find strong effects of all five weather...

We investigate the impact of workplace sexual harassment on firm value by estimating the incidence of sexual harassment (SH) through textual analysis of online job reviews. During 2011-2017, the value-weighted portfolio of firms in the top quantiles (top 1% to 5%) of the SH score earned a...

Despite the mounting evidence that stock misvaluation affects takeover characteristics and outcomes at the deal level, there remains a prolonged debate over whether mispricing drives aggregate industry-level merger activity. We depart from the extant literature and investigate whether stock...