
Michela Verardo
Research Interests
Empirical asset pricing
Market efficiency
Behavioural finance
Mutual funds and hedge funds
Empirical asset pricing
Market efficiency
Behavioural finance
Mutual funds and hedge funds
Competitive challenges and regulatory uncertainty associated with the green transition should incentivize firms to innovate and to sway regulatory...
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...