Disagreement measures are known to predict cross-sectional stock returns but fail to predict market returns. This paper proposes a partial least squares disagreement index by aggregating information across individual disagreement measures and shows that this index significantly predicts market...

Labor organizations mobilize employees for political purposes. In this study, we examine how labor unions stimulate political polarization within firms. We combine datasets on employee-level political contributions and union elections in the United States. In a regression discontinuity design,...

Unlike traditional asset categories (e.g., industry classifications) that are generally defined clearly, some groups of stocks are tied to a certain loosely defined “concept” (e.g., e-commerce). When investors find it difficult to analyze ambiguous concept-oriented information, information...