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Journal Article
ACCEPTED MANUSCRIPT
Political Sentiment and Innovation: Evidence from Patenters
The Review of Financial Studies, hhaf029, https://doi.org/10.1093/rfs/hhaf029
Published: 28 April 2025
Journal Article
ACCEPTED MANUSCRIPT
The Effects of Going Public on Firm Profitability and Strategy Get access
The Review of Financial Studies, hhaf026, https://doi.org/10.1093/rfs/hhaf026
Published: 24 April 2025
Journal Article
ACCEPTED MANUSCRIPT
Hedging, Contract Enforceability, and Competition Get access
The Review of Financial Studies, hhaf025, https://doi.org/10.1093/rfs/hhaf025
Published: 18 April 2025
Journal Article
ACCEPTED MANUSCRIPT
Nonbank Lending and Credit Cyclicality Get access
The Review of Financial Studies, hhaf024, https://doi.org/10.1093/rfs/hhaf024
Published: 17 April 2025
Journal Article
ACCEPTED MANUSCRIPT
An Equilibrium Model of Imperfect Hedging: Transaction Costs, Heterogeneity in Risk Aversion, and Return Volatility Get access
The Review of Financial Studies, hhaf023, https://doi.org/10.1093/rfs/hhaf023
Published: 16 April 2025
Journal Article
ACCEPTED MANUSCRIPT
Income Shifting out of the United States by Foreign Multinational Firms
The Review of Financial Studies, hhaf021, https://doi.org/10.1093/rfs/hhaf021
Published: 09 April 2025
Journal Article
ACCEPTED MANUSCRIPT
Weak Identification of Long Memory with Implications for Volatility Modeling Get access
The Review of Financial Studies, hhaf022, https://doi.org/10.1093/rfs/hhaf022
Published: 03 April 2025
Image
Macroeconomic news, return expectations, and higher-order beliefs The fi... Get access
Published: 31 March 2025
Figure 2:
Macroeconomic news, return expectations, and higher-order beliefs The figure plots coefficients from contemporaneous regressions of changes in quarterly average 1-, 3-, 6-, and 12-month excess return expectations, HO belief , and Overvaluation on measures of macroeconomic news. The measure of
Journal Article
Earnings Extrapolation and Predictable Stock Market Returns
The Review of Financial Studies, hhaf020, https://doi.org/10.1093/rfs/hhaf020
Published: 31 March 2025
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Predictive power of earnings in period 0E on earnings in future periods ...
Published: 31 March 2025
Figure 4:
Predictive power of earnings in period 0E on earnings in future periods This figure is an example of the predictive power of the earnings announced in period 0E on earnings in future periods, namely the regression loadings of these future earnings on 0E earnings. The “E” periods represent the ear
Image
The expected stock market returns and the 1-month Treasury rates The blu...
Published: 31 March 2025
Figure 2:
The expected stock market returns and the 1-month Treasury rates The blue line (exp_ret) of this figure plots the expected stock market return as in method 6 of Table 4 . The dashed red line (rf) is the 1-month Treasury rates. The unit is percent per month.
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Continuation vs. reversal strength across decades This figure plots the ...
Published: 31 March 2025
Figure 3:
Continuation vs. reversal strength across decades This figure plots the strength of the continuation arm of the return, represented by in Table A1 against the strength of the reversal, represented by . Each decade in the CRSP history is represented by a point. The blue line is fitted acr
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Loadings of E(arly) and L(ate) period earnings on past earnings shocks T...
Published: 31 March 2025
Figure 5:
Loadings of E(arly) and L(ate) period earnings on past earnings shocks The left panel of this figure is an example of the loadings of the earnings announced in period 0E on past earnings shocks. The “E” periods represent the early half of the earnings cycle and are newsy. The “L” periods represen
Journal Article
Speculating on Higher-Order Beliefs Get access
The Review of Financial Studies, hhaf019, https://doi.org/10.1093/rfs/hhaf019
Published: 31 March 2025
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Higher-order beliefs and perceived valuations The figure plots the time-... Get access
Published: 31 March 2025
Figure 1:
Higher-order beliefs and perceived valuations The figure plots the time-series quarterly averages of a H igher- o rder belief measure and a perceived Overvaluation measure. The Overvaluation measure is constructed by mapping the responses to question (ii.b) regarding perceptions of stock m
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Nonfundamental speculation, overreaction, and reversal The figure plots th... Get access
Published: 31 March 2025
Figure 3:
Nonfundamental speculation, overreaction, and reversal The figure plots the asset price in period given , for different levels of strategic sophistication, . The blue line represents speculators’ cumulative return expectations from period to . The red line represents the average re
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Timing of independent and dependent variables in the U.S. market return for...
Published: 31 March 2025
Figure 1:
Timing of independent and dependent variables in the U.S. market return forecasting regression This figure shows how the independent variables, , in the U.S. return forecasting regression progress as the dependent variable moves forward. Notice is the j th most recent newsy month stri
Journal Article
Short-Term Debt and Corporate Governance Get access
The Review of Financial Studies, hhaf018, https://doi.org/10.1093/rfs/hhaf018
Published: 25 March 2025
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Timeline of baseline model Figure summarizing the timing of the game d... Get access
Published: 25 March 2025
Figure 1:
Timeline of baseline model Figure summarizing the timing of the game depicted in the text.
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Managerial incentives as a function of the level of short-term debt... Get access
Published: 25 March 2025
Figure 3:
Managerial incentives as a function of the level of short-term debt Figure depicting M’s incentives to exert effort. M’s incentives are hump-shaped in , attaining their maximum at .
