Empirical asset pricing
Market efficiency
Behavioural finance
Mutual funds and hedge funds
Innovation in green technologies is viewed as a crucial driver of the transition to greener modes of production and consumption. However, there is...
Journal of Finance, 73 (5), 2229-2269.
This paper finds that fund herding, defined as the tendency of a mutual fund to follow past aggregate institutional trades, is an important predictor...
The Journal of Finance, 66 (2). pp. 635-653.
Recent studies show that single-quarter institutional herding positively predicts short-term returns. Motivated by the theoretical herding literature...
In this paper we develop a simple theoretical model to analyze the impact of institutional herding on asset prices. A growing empirical literature has...
This paper shows that the systematic risk (or "beta") of individual stocks increases by an economically and statistically significant amount on days...
