Motivated by research in psychology and experimental economics, we assume that investors update their beliefs about an asset's value upon observing the price, but only when the price clearly reveals that others obtained private information that differs from their own private information....

Motivated by research in psychology and experimental economics, we assume that investors update their beliefs about an asset's value upon observing the price, but only when the price clearly reveals that others obtained private information that differs from their own private information. In...

We examine the relation between a firm's environmental, social, and governance (ESG) performance and its CEO's founder status, an important but previously unexplored leadership attribute in this context. We find that founder-CEO-led firms exhibit superior ESG performance. We further document...

We exploit new flight connections from small cities to international airportsas a quasi-natural experiment to study the effects of local labor match oncorporate investments. Using a cosine similarity of occupational makeups,we find that capital expenditures, R&D, and acquisitions are higher...

We study the effects of employee health on corporate innovation by exploiting staggered medical cannabis legalization across states from 1995 to 2020. Medical cannabis legalization increases medical access, thereby significantly influences employee health. Using a difference-in-differences...