Previous research finds that stock analysts exhibit both optimistic and pessimistic biases in their earnings forecasts, with the net result being a consistent, but declining, overestimation of forecasted earnings. We extend this research by examining the potential effect of Seasonal Affective...

Given the rapid growth of investment products focused on socially responsible investing (SRI), in March 2016 Morningstar began reporting standardized metrics to “grade” the Sustainability (i.e., SRI) level of thousands of mutual funds. While traditional financial theory suggests funds that...

Prior studies find broad-based support for the efficacy of trading strategies based on momentum in stock returns. More recent studies, however, note a declining benefit relative to that identified in seminal studies on momentum. These recent studies, however, primarily examine time periods...