Abstract In Kyle (1985), the ratio of fundamental variance to price impact measures the value
of information to a monopolist strategic informed investor. We show this same statistic …

Cross-predictability denotes the fact that some assets can predict other assets' returns. I
propose a novel performance-based measure that disentangles the economic value of cross …

Using the MD&A section of annual firm reports we construct a text-based measure of the
socio-technical phenomenon of digitalization, called digital orientation, from 1996 to 2020 …