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Do Sell-Side Analysts Say "Buy" While Whispering "Sell"?
Hirshleifer, David; Shi, Yushui; Wu, Weili - National Bureau of Economic Research - 2022
We examine how sell-side equity analysts strategically disclose information of differing quality to the public versus the buy-side mutual fund managers to whom they are connected. We consider cases in which analysts recommend that the public buys a stock, but some fund managers sell it. We...
Persistent link: https://www.econbiz.de/10013210060
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Macroeconomic Forecasting using Filtered Signals from a Stock Market Cross Section
Chatelais, Nicolas; Stalla-Bourdillon, Arthur; Chinn, … - National Bureau of Economic Research - 2022
After the Covid-shock in March 2020, stock prices declined abruptly, reflecting both the deterioration of investors' expectations of economic activity as well as the surge in aggregate risk aversion. In the following months however, whereas economic activity remained sluggish, equity markets...
Persistent link: https://www.econbiz.de/10013334522
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Business Group Spillovers
Naaraayanan, S. Lakshmi; Wolfenzon, Daniel - National Bureau of Economic Research - 2023
We compare the investment of standalone firms across regions after a positive shock to the investment opportunities generated by a large-scale highway development project. We show that the standalones' investment sensitivity is lower in regions with a higher density of business groups in the...
Persistent link: https://www.econbiz.de/10014250125
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Trust and Health Care-Seeking Behavior
Darden, Michael; Macis, Mario - National Bureau of Economic Research - 2024
expressing health care-seeking behavior as a function of economic and behavioral fundamentals and highlighting the role of trust …. We report several findings. First, we document a strong association between higher levels of trust in the health care … scenarios, from routine check-ups to vaccinations. Second, the impact of trust on health care utilization is similar in …
Persistent link: https://www.econbiz.de/10014468228