We use daily survey data on Chinese institutional investors' forecasts to measure investors' sentiment. Our empirical model uncovers that share prices and investor sentiment do not have a long-run relation; however, in the short-run, the mood of investors follows a positive feedback process....

We use indices from the Notre Dame Global Adaptation Initiative to investigate the impact of climate vulnerability on bond yields. Our methodology invokes panel ordinary least squares with robust standard errors and principal component analysis. The latter serves to address the multicollinearity...

We solve a deterministic impulse control problem with state dependent continuous control constraints. Impulses shift the state variable, altering subsequent continuous control constraints, making established methods difficult to apply. These functionals arise in the context of firm valuation,...