Purpose Livestreaming, as a relatively new online marketing model, has generated numerous business opportunities for e-commerce and social commerce. The purpose of this paper is to investigate to what degree livestreaming content impacts online users' cognitive and emotional reactions and...

We use proprietary futures brokerage data with intraday time stamps to analyze how embedded derivatives leverage affects trading and performance in the cross-section of investors. The effect is heterogeneous: Skilled investors benefit from leverage, while leverage has the opposite impact on the...