This study examines the language effect on investing using the Google search records of Chinese- versus English-speaking searchers. First, we find that the attention of Chinese speakers induces that of English speakers, increases abnormal news coverage, and has better predictability on stock...

We examine the effects of CEO big five personalities (openness, conscientiousness, extraversion, agreeableness, and neuroticism) on their annual compensation. We hand-collect the S&P 1500 CEO tweets and use IBM personality insights to measure CEO personality. CEOs with high ratings of...

This paper examines whether the overconfidence of a downstream customer firm’s CEO affects the value of its upstream supplier firms. We find that CEO overconfidence positively influences investor opinion regarding upstream supplier firm value in an environment of information asymmetry (proxied...

The focus of this paper is whether the Securities and Exchange Commission’s Regulation SHO strengthens or weakens the effect of short-selling threats on banks’ risk-taking. The evidence shows that pilot banks with looser constraints on short-selling increased their risk-taking during the...

Pástor and Veronesi (2012) develop a general equilibrium model to examine the relation between policy uncertainty and asset prices. Extending to their study, we develop a novel measure of firms’ uncertainty about the change in bilateral trade flows between each country and the US. We...

This study investigates the effect of individual health conditions on individual innovation output, utilizing the staggered passage of recreational marijuana policies as an exogenous shock. Employing a large and current sample of U.S. inventors from 2010 to 2018, our study identifies a...

We find that changes in short interest predict banks’ stock returns during two recent banking crises. Furthermore, before the 2007-2008 crisis, short interest increased more for banks with worse performance during the Long-Term Capital Management crisis of 1998. We also find that changes in...