Quantitative trading and investment decision making are intricate financial tasks that rely on
accurate stock selection. Despite advances in deep learning that have made significant …

Using Tobin's q as a measure of performance, we seek to estimate the relative importance of
industry, focus, and share effects in determining firm performance. Our methods are …

According to prevailing theory, firms diversify in response to excess capacity of factors that
are subject to market failure. By probing into the heterogeneity of these factors, we develop …

Publisher Summary This chapter describes investment theory as the study of the individual
behavior of households and economic organizations in the allocation of their resources to …

This paper investigates empirically whether top corporate executives are compensated as if
their performance is evaluated relative to the performance of competitors. 1 This research …

Stock movement prediction, a widely addressed research avenue in the world of computer
science and finance, it finds fundamental applications in quantitative trading and investment …

The effect that voluntarily disclosed managers' earnings forecasts have on the security
prices of the announcing firms and other firms in the same industry is examined. The results …

When price competition is constrained by tick size, speed allocates the resources due to the
time priority rule. We demonstrate three implications of competition in speed. 1) We find …

Several recent studies of the capital asset pricing model were designed to improve the
understanding of the pricing of capital assets by expanding the singlefactor market model to …

Prior research has documented that earnings announcements provide information not only
about the announcing firm but also about other firms in the same industry. We document a …