This paper proposes a new class of estimators based on the inter-quantile-range of intraday returns, referred to as Inter-Quantile-Range-based volatility (IQRBV), to estimate the integrated daily volatility. As the range-based volatility measure, the IQRBV estimate is insensitive to market...

This paper uses compensation peer groups to measure peer effects in corporate innovation. This approach provides a true peer group and better leader-follower link and thus can mitigate the reflection problem suggested by Manski (1993). We find that the average innovation activity of the...