Abstract We examine how owning a good affects learning and beliefs about its quality. We show that people have more extreme reactions to information about a good that they own compared to the same information about a non-owned good: ownership causes more optimistic beliefs after receiving a...

We develop a new measure of impact elasticity, defined as a firm's change in environmental impact due to a change in its cost of financing. We show empirically that a reduction in financing costs for firms that are already green leads to small improvements in impact at best. In contrast,...

The business press plays a significant role in distributing firm news to investors. We investigate the extent to which managers can influence their firm's level of coverage in newswires and newspapers. We consider three choices under managerial control: press release timing, press wire service,...

I examine how media coverage of a company's good and bad news affects the stock price response, by looking at the effect of investor relations (IR) firms. I find that IR firms ‘spin' their clients' news by generating more media coverage of positive press releases than negative press releases....

We study the consequences of a firm engaging in corporate social responsibility within the firm's operations, rather than doing so outside the firm through charitable donations. After April 2018 protests, Starbucks enacted policies that anybody could sit in their stores and use the bathroom...