This study examines whether mutual funds herd in industries and the extent to which such herding impacts industry valuations. Using two herding measures proposed by Lakonishok et al. (1992) and Sias (2004) we document that mutual funds herd in industries. We show that industry herding is not...

We examine the impact of optimistic directors that are members of boards and compensation committees on CEOs compensation. We find that optimistic boards and compensation committees reward CEOs with a higher proportion of equity-based compensation. We utilize two natural experiments,...

The prior literature has shown that firms in the list of 100 Best Companies to Work for in America (hereafter BC) earn positive abnormal returns in the period after the list is published in Fortune magazine. In this paper, we assess to what extent the prior performance of stocks is related to...