This study explores the role of investor sentiment in a broad set of anomalies in cross-sectional stock returns. We consider a setting where the presence of market-wide sentiment is combined with the argument that overpricing should be more prevalent than underpricing, due to short-sale...

Extremely long odds accompany the chance that spurious-regression bias accounts for investor sentiment׳s observed role in stock-return anomalies. We replace investor sentiment with a simulated persistent series in regressions reported by Stambaugh, Yu, and Yuan (2012), who find higher...

Estimates of mispricing, such as deviations from no-arbitrage relations, strongly comove across five financial markets. One common component---the arbitrage gap---explains the majority of variability in mispricing estimates for futures, Treasury securities, foreign exchange, and options....

Competition in the labor market theoretically leads to higher wages, yet empirical evidence to substantiate it, particularly in developing countries, has been sparse. Our study delves into the impact of increased competition in the labor market on workers' wages using a panel dataset from...

Competition in the labor market theoretically leads to higher wages, yet empirical evidence tosubstantiate this theory, particularly in developing countries, has been notably sparse. In sharpcontrast to developed economies where markets have increasingly veered towards monopsony,China’s labor...

The thesis consists of two essays on behavioral finance. The first essay is titled, "Attention and Trading." This study empirically explores the effects of attention levels on investors' trading behavior and on market price dynamics. Specifically, we analyze the ability of market-wide...