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 …

This paper proposes a new approach to estimating investor sentiments and their
implications for the global financial markets. Contextualising the COVID-19 pandemic, we …

We propose a theoretically motivated factor model based on investor psychology and
assess its ability to explain the cross-section of US equity returns. Our factor model …

ESG rating have progressively become an important reference index within the investment
decision-making process. However, divergence might arise among diverse ESG rating …

We identify a group of “suspicious” firms that use stock splits, perhaps along with other
activities, to artificially inflate their share prices. Following the initiation of suspicious splits …

Hundreds of papers and factors attempt to explain the cross-section of expected returns.
Given this extensive data mining, it does not make sense to use the usual criteria for …

This study explores whether investor sentiment, driven by Coronavirus-related news (CRNs)
and economic-related announcements (ERAs) associated with the Coronavirus outbreak, is …

We assess the impact of investor sentiment on future stock returns in 50 global stock
markets. Using the consumer confidence index (CCI) as the sentiment proxy, we document a …

This study explores the role of investor sentiment in a broad set of anomalies in cross-
sectional stock returns. We consider a setting in which the presence of market-wide …