This survey reviews the literature on sell-side analysts' forecasts and their implications for
asset pricing. We review the literature on the supply and demand forces shaping analysts' …

This systematic literature review critically analyzes studies on the determinants of short
selling and the implications for information distribution, real economic decisions, financial …

Using a large sample of US public firms, we find robust evidence that short interest is
positively related to one-year ahead stock price crash risk. The evidence is consistent with …

We find that a substantial portion of short sellers' trading advantage comes from their ability
to analyze publicly available information. Using a database of short sales combined with a …

Psychological evidence indicates that decision quality declines after an extensive session of
decision-making, a phenomenon known as decision fatigue. We study whether decision …

Prior studies provide conflicting evidence as to whether managers have a general tendency
to disclose or withhold bad news. A key challenge for this literature is that researchers …

We examine whether short sellers detect firms that misrepresent their financial statements,
and whether their trading conveys external costs or benefits to other investors. Abnormal …

This paper exploits a novel hand-collected data set to provide a comprehensive analysis of
the social relationships that underlie illegal insider trading networks. I find that inside …

Government agencies routinely allow pre-release access to information to accredited news
agencies under embargo agreements. Using high-frequency data, we find evidence …

We analyze a rational expectations equilibrium model to explore the implications of
information networks for the financial market. When information is exogenous, social …