Expected idiosyncratic volatility and its positive relation to expected returns of Fu (2009) can be closely replicated, but only when we include information up to time t to estimate the idiosyncratic volatility at time t. Since this involves look-ahead bias, we re-estimate expected idiosyncratic...

This paper studies how people in certain country view their status relate to corporate investment decisions. Utilizing the data from the World Happiness Report published by the United Nations Sustainable Development Solutions Network, we find that country's overall happiness is positively...