We propose an investor attention index based on proxies in the literature and find that it
predicts the stock market risk premium significantly, both in sample and out of sample, whereas …

We study how firms allocate cash flow by estimating the cash-flow sensitivities of various uses
of cash flow. We decompose cash flow into a transitory and a permanent component and …

This paper examines the impacts of M&A advisors’ industry expertise on firms’ choice of
advisors in mergers and acquisitions. We show that an investment bank's expertise in merger …

We employ a difference-in-differences estimation approach to examine the impact of stakeholder
orientation on corporate payout policy. The empirical test exploits the enactment of US …

This article examines the cross-country asset pricing implications of disaster risk concerns.
We construct a new disaster risk index, relying on six news-implied rare disaster proxies of …

Bitcoin is a decentralised digital currency which attracts growing interest over recent years.
Much research from different subjects emerged as bitcoin is a multidisciplinary product. …

Trust between parties should drive contract design: if parties were suspicious about each
others' reaction to unplanned events, they might agree to pay higher costs of negotiation ex …

We examine the information role of financial advisors by focusing on mergers and acquisitions
in which acquiring firms hire target firms’ ex-advisors. We document that by employing …

This study investigates the cross-country impact of US equity market skewness risk. We find
that a large decrease in the US market skewness significantly predicts higher future returns …

We propose an employee sentiment index, complementing investor sentiment and manager
sentiment indices, and find that high employee sentiment predicts low monthly (weekly) …