Christian Fieberg, Gerrit Liedtke, Thorsten Poddig, Thomas Walker, and Adam Zaremba ♦ We propose CTREND, a new trend factor for cryptocurrency returns, which aggregates price and volume information across different time horizons. Using data on more than 3,000 coins, we employ machine learning…
Jesse A. Ellis, David G. Kenchington, Jared D. Smith, and Roger M. White ♦ The growing popularity of home-sharing platforms such as Airbnb, partly fueled by hosts’ ability to evade local taxes and regulations, has been shown to elevate housing…
Felix von Meyerinck, Vesa Pursiainen, and Markus Schmid ♦ We study the role of competition in customers’ reactions to litigation against firms, using anonymized mobile phone location data. A class action lawsuit filing is followed by a 4% average reduction…
Rustam Abuzov ♦ This paper studies the impact of limited attention on investment decisions by venture capitalists (VCs). I find that startups funded by VCs during VCs’ IPO engagements tend to underperform: these startups are 9% less likely to go…
Po-Hsuan Hsu, Kyungran Lee, S. Katie Moon, and Seungjoon Oh ♦ We document significant increases in the suspension of ongoing drug projects following the passage of the Food and Drug Administration Amendments Act of 2007 (FDAAA), which mandates that pharmaceutical…
Jun Aoyagi ♦ The dissemination of public information regarding an asset’s fundamental value can encourage acquisition of private information by informed traders, leading to a crowding-in effect. Competing with the crowding-out effect analyzed in prior research, the crowding-in effect shapes…
