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We develop a general framework for measuring biases in expectation formation. The method is based on the insight that biases can be inferred from the response of forecast errors to past news. Empirically, biases are measured by flexibly estimating the impulse response function of forecast...
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Good corporate reputation is seen as one of the most valuable assets. It is believed to cause a multitude of favorable … corporate reputation and financial performance. However, the most of them raised the question of causation due to their … methodology. In order to isolate the impact of corporate reputation on financial performance, some authors had conducted event …
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