Equity investors value CEO social capital when pricing firm equity. When CEO social capital is high, the value relevance of the book value of equity declines, whereas the value relevance of earnings measures increases. Results are stronger for firms in high-tech industries where information...

We reconsider the question of whether beta-centric hedge fund activity is predictive of superior performance. We construct a measure of overall beta activity of fund managers, Beta Activity, and find evidence that top beta active managers deliver superior long term out-of-sample performance...

Initial Public Offering (IPO) outcomes are affected by the social capital of firm's chief executive officer (CEO), proxied by CEO's network centrality that identifies individual position within the hierarchy of all business executives worldwide. IPOs with CEOs who possess higher social capital...