This paper reviews the literature examining how costs of monitoring for, acquiring, and
analyzing firm disclosures–collectively,“disclosure processing costs”–affect investor …

Behavioral finance studies the application of psychology to finance, with a focus on
individual-level cognitive biases. I describe here the sources of judgment and decision …

We examine the potential of ChatGPT and other large language models in predicting stock
market returns using news headlines. We use ChatGPT to assess whether each headline is …

As the coronavirus pandemic (COVID-19) has amplified so has country responses to it. With
COVID-19 taking its toll on humans, as reflected in the number of people infected by, and …

内容提要: 组合投资的两种传统策略是基于收益惯性和收益反转. DeBondt and Thaler (1985)
发现较长时期内股票价格运动存在相当程度的收益反转现象, 而Jegadeesh and Tit2 man …

We find that three factors—cryptocurrency market, size, and momentum—capture the cross‐
sectional expected cryptocurrency returns. We consider a comprehensive list of price‐and …

Unlike previous studies examining the association between crude oil and renewable energy
stock prices under average conditions, we employ a quantile-based regression approach …

We study a newly designed survey administered to a large panel of wealthy retail investors.
The survey elicits beliefs that are important for macroeconomics and finance, and matches …

This paper studies the asset pricing implications of industrial pollution. A long‐short portfolio
constructed from firms with high versus low toxic emission intensity within an industry …

This paper presents a novel wavelet-based quantile-on-quantile method for comparing the
impact of COVID-19 on stock market volatility between the US and China. Wavelet …