Using an aggregate credit spread index, we find that it has substantial predictive power for corporate bond returns over short and long horizons. The return predictability is economically and statistically significant and robust to various controls. The credit spread index and its components...

Using an aggregate credit spread index, we find that it has substantial predictive power for corporate bond returns over short and long horizons. The return predictability is economically and statistically significant and robust to various controls. The credit spread index and its components...

Social media provides an opportunity for companies to interact with customers, improves the design process, and ensures that companies deliver products and services that meet customers’ expectations. Previous studies have conceptualized and debated on the link between social media and firm...

This study proposes an unconventional partial adjustment valuation approach, as a comparison to stochastic production frontier approach, to evaluate the business values of information technology and E-commerce. Based on the different settings of the speeds of adjustment, two different cases,...

Analysts’ forecast is one of the most common and important estimators for firms’ future earnings. However, it is challenging to fully utilize because of the missing values. This study applies machine learning techniques to impute missing values in individual analysts’ forecasts and...