John M. Bizjak, Swaminathan L. Kalpathy, Vassil T. Mihov, and Jue Ren ♦ Using establishment-level data, we show that COVID-19 vaccinations boost business activity and firm performance in the United States. A 10% increase in vaccination rates results in a…
Bo Huang, Jiacui Li, Tse-Chun Lin, Mingzhu Tai, and Zoey Yiyuan Zhou ♦ We show that attention constraints on decision-makers create barriers to financial inclusion. Using administrative data on retail loan-screening processes, we find that attention-constrained loan officers exert less…
Charles J. Hadlock, Jing Huang, Paul Obermann, and Joshua R. Pierce ♦ We find that division managers who are connected to the CEO are substantially less likely than others to depart from the firm and are more likely to be…
John D Finnerty, Natalia Reisel, and Xun Zhong ♦ We examine a link between bond ETF creation and redemption processes and the underlying bond market liquidity. Using daily creation and redemption data, we find that including a bond in a…
Hearty congratulations to Joseph Engelberg, R. David McLean, Jeffrey Pontiff, and Matthew C. Ringgenberg, Do Cross-Sectional Predictors Contain Systematic Information? May 2023, Vol. 58, No. 3, pp. 1172-1201 and Andrew Y. Chen, and Mihail Velikov, Zeroing In on the Expected Returns…
Rajesh K. Aggarwal and Mufaddal Baxamusa ♦ “Stealth mergers” are not reported to the government because they fall below the required size threshold. We study stealth mergers involving public targets for which manipulation of transaction sizes is unlikely. These stealth…
