Annual Conference

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Investment Finance

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May 2015

Investor Attention: Seasonal Patterns and Endogenous Allocations

Peng LIN, Hongqi LIU
Using a Google search-based measure of investor attention, this paper investigates investor attention patterns and its determinants. We document that investor attention displays strong seasonality. It is significantly lower on Fridays and in summer months. We find that investor attention increases s...
Keywords: limited attention, information processing, attention allocation, information efficiency
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Annual Conference

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Real Estate and Urban Economics

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May 2024

Investments that Make our Homes Greener: The Role of Regulation

Nuno CLARA, Joao F. COCCO, S. Lakshmi NAARAAYANAN, Varun SHARMA
The operation of residential buildings (our homes) is responsible for roughly 22% of the global energy consumption and 17% of the CO2 emissions. We study the effects of a regulatory intervention aiming to reduce carbon emissions by requiring privately rented properties to satisfy minimum energy effi...
Keywords: Real Estate, Household Finance, Energy Efficiency, Climate Change.
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Senior Fellows/Fellows

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Pandemic

Investment and Subjective Uncertainty

Steven J. DAVIS, Nicholas A. BLOOM, Lucia FOSTER, Scott OHLMACHER, Itay SAPORTA-EKSTEN
A longstanding challenge in evaluating the impact of uncertainty on investment is obtaining measures of managers’ subjective uncertainty. We address this challenge by using a detailed new survey measure of subjective uncertainty collected by the U.S. Census Bureau for approximately 25,000 manufact...
Keywords: Subjective expectations, business-level uncertainty
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Senior Fellows/Fellows

Investment and Subjective Uncertainty

Nicholas A. BLOOM, Steven J. DAVIS, Lucia FOSTER, Scott OHLMACHER, Itay SAPORTA-EKSTEN
A longstanding challenge in evaluating the impact of uncertainty on investment is obtaining measures of managers’ subjective uncertainty. We address this challenge by using a detailed survey measure of uncertainty collected by the U.S. Census Bureau for approximately 25,000 manufacturing plants. W...
Keywords: Subjective expectations, business-level uncertainty
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Webinar Series

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Capital Market Development: China and Asia

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Jan 2022

Investing with the Government: A Field Experiment in China

Emanuele COLONNELLI, Bo LI
This paper studies the demand for government participation in financial markets. Focusing on the venture capital and private equity industry in China, the authors design a non-deceptive field experiment in collaboration with the leading industry organization, through which the authors conduct 1,00...
Keywords: Financial markets, Venture Capital, private equity, political inteference
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