Publications

This paper studies the general equilibrium implications of arbitrage trades in segmented financial markets. Arbitrageurs choose a category of trades...

American Economic Review: Insights, 7(2), 196–212

Annual Review of Financial Economics, 17, 295-319

Management Science, 71 (11), 9548-9568

We develop a novel method to infer intra-quarter trading of individual mutual funds. After a mutual fund executes a trade, its reported portfolio...

We survey 509 equity portfolio managers from both traditional and sustainable funds on whether, why, and how they incorporate firms’ environmental and...

Journal of Financial Econometrics, 23 (1), nbae033

Management Science, 71 (9), 7774-7799

Annual Review of Financial Economics, 16, 115 - 151

Privately informed about firm fundamentals, corporate insiders detect activism-motivated trades better than other traders. This paper solves the model...

Journal of International Money and Finance, 148, 103152