We create a firm-level ChatGPT investment score, based on conference calls, that measures managers' anticipated changes in capital expenditures. We validate the score with interpretable textual content and its strong correlation with CFO survey responses. The investment score predicts future...

We use a text-based measure of popular sentiment toward finance to study how finance sentiment responds to rare historical disasters and to the ongoing COVID-19 pandemic. Finance sentiment declines after epidemics and earthquakes, but rises following severe droughts, floods, and landslides....

Do hedge fund activists tailor their campaigns to mutual fund family's preferences? And if so, does the strategy work? Using supervised machine learning on the fund family's proxy voting choices, I estimate their preferences. I find that activists align proxy communications with the preferences...

We measure popular sentiment toward finance using a computational linguistics approach applied to millions of books published in eight countries over hundreds of years. We document persistent differences in finance sentiment across countries despite ample time-series variation. Finance sentiment...

We analyze whether institutional investors’ corporate bond holdings are associated with how actively they vote and monitor their equity investments. We document that institutions conduct more governance research and are less likely to follow proxy advisor vote recommendations for companies...

Implementation of monitoring strategy for increasing the efficiency of groundwater pollutant source characterization is often necessary, especially when only inadequate and arbitrary concentration measurement data are initially available. Two main parameters that need to be estimated for...

Institutional investors conduct more governance research and are less likely to follow proxy advisor vote recommendations when a company's bonds comprise a larger share of their assets. These findings are driven by bond holdings, shareholder proposals, and companies where fixed-income managers...