We document a significant, up to 10-fold increase in the intra-day correlation of firm-specific and market returns over the last decade. This surge in the intra-day correlation of returns coincided with the advent of electronic, automated trading in U.S. markets. Using changes to the S&P500...

In a crowdfunding campaign, customers are often uncertain about how much they like the product launched because the product description often lacks detailed information, in which case the product value for a customer is her expected valuation. When that information is provided, customers'...

Using the staggered changes in unemployment insurance (UI) benefits across states in the US as an exogenous shock to employees’ costs of unemployment and the hiring firm’s costs of disclosure, this study investigates whether and how a firm’s relationship with its employees impacts its...