Annual Conference

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Accounting

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May 2016

Can Twitter Help Predict Firm-Level Earnings and Stock Returns?

Eli BARTOV, Lucile FAUREL, Partha MOHANRAM
Prior research has examined how companies exploit Twitter in communicating with investors, and whether Twitter activity predicts the stock market as a whole. We test whether opinions of individuals tweeted just prior to a firm’s earnings announcement predict its earnings and announcement returns. ...
Keywords: Twitter, Social media, Wisdom of Crowds, earnings, analyst earnings forecast, abnormal stock returns
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Annual Conference

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Corporate Finance

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May 2019

Can Technology Undermine Macroprudential Regulation? Evidence from Peer-to-Peer Credit in China

Alberto MANCONI, Fabio BRAGGION, Haikun ZHU
We study whether and to what extent peer-to-peer (P2P) credit helps circumvent loan-tovalue (LTV) caps, a key macroprudential tool to contain household leverage. We exploit the tightening of mortgage LTV caps in a number of cities in China in 2013 as our testing ground, in a difference-in-difference...
Keywords: peer-to-peer credit, household leverage, macroprudential regulation, loan-tovalue caps
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Senior Fellows/Fellows

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Senior Fellows/Fellows

Can Socially Responsible Firms Survive Competition Corporate Employee Matching

Ning GONG, Bruce GRUNDY
Employee matching grant schemes are coordination mechanisms that reduce free-riding by socially-conscious employee-donors. Their prevalence demonstrates that socially-responsible firms can survive market competition. When socially-conscious employees are more productive or value working together, ma...
Keywords: Employee matching grants, corporate social responsibility
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Annual Conference

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Economic Transformation of Asia

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May 2019

Can Partial Commitment Increase Pension Contribution? A Field Experiment in Sri Lanka

Changcheng SONG
We conduct several randomized controlled trials in more than 200 villages in Sri Lanka to study whether incentives and partial commitment pension designs generate higher participation and savings in the micro pension. In Experiment I, individuals are randomly assigned to a control group, a free inst...
Keywords: Pension contribution, partial commitment, randomized control trial, optimal liquidity
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Annual Conference

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Investment Finance

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May 2015

Can information be locked up? Informed trading ahead of macro-news announcements

Jianfeng HU, Gennaro BERNILE, Yuehua TANG
U.S. government agencies routinely allow pre-release access to macroeconomic data to accredited news agencies under embargo agreements. Using high frequency data, we find evidence consistent with informed trading during news embargoes of the Federal Open Market Committee’s (FOMC) scheduled announc...
Keywords: Media Lockup, News Embargo, Informed Trading, FOMC Announcement, Macroeconomic News
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