Motivated by theoretical models in economics which show that there is matching between CEO skill and firm size, we introduce a new measure of director skill which is based on the aggregate size of firms on which the director serves as an independent director. We validate our measure by showing...

Analysts' functions are divided into discovery and interpretation roles, but separating between the two is non-trivial. We conjecture that analysts' interpretation skill can be gauged by their forecast revisions following material unanticipated news — in particular following non-earnings 8-K...

We analyze whether editors of top-tier journals bias acceptance decisions due to cultural values that are unrelated to academic merits. Specifically, while editors raised in common law countries tend to base their acceptance decision solely on scientific merits, editors raised in civil law...

We analyze the effects of partisan Congressional control on the US economy. We find that economic performance is weaker when no party has the majority in both chambers of Congress (divided Congress). This weaker economic performance is attributed to reduced and less effective regulation. We...

We find that investors are fixated on analysts' consensus outputs (earnings forecasts, recommendations, and forecast dispersion), which can be inferior signals compared to the corresponding outputs provided by high-quality analysts, especially when a large number of high-quality analysts follow...