Information is key to decision-making and is a major determinant of investment performance. We hypothesise that as analysts are constrained by their research resources, they collect information with more externalities. Measuring information externalities as a stock’s fundamental correlations...

This study investigates the effect of stock market overvaluation of non-peer firms on firm investment measured by capital expenditures. To test this effect, Stambaugh et al.’s (2015) misvaluation measure and Text-Based Network Industry Classification (TNIC) codes are used. The results indicate...

The size premium, defined as the outperformance of equities of small and medium-sized companies compared with the shares of large companies, is subject to strong cyclical fluctuations over time. This study examines the predictability of this premium for the Swiss stock market. The forecasts used...