1 to 10 of 29 Results
Jun 24, 2025
Battaglia, Francesca; Fiorillo, Paolo; Rognone, Lavinia; Salerno, Dario, 2025, "Green Bond issuance effect on Environmental and Social performance: Evidence from an international sample", https://doi.org/10.7910/DVN/FTLJEG, Harvard Dataverse, V1, UNF:6:DSPOv8rKqx7qADg4xK7I6w== [fileUNF]
We study how first-time Green Bond (GB) issuances impact the Environmental and Social performance (ESP) of issuers. If GB issuances signal issuer’ commitment to sustainable development, rating agencies should positively adjust ESG scores, assuming no opportunistic behaviour or rating inefficiencies. Using a global GB issuance dataset, we employ a d... |
May 27, 2025
Li, Lin, 2025, "Replication Data for : The role of intangible investment in predicting stock returns: Six decades of evidence", https://doi.org/10.7910/DVN/TZOYOC, Harvard Dataverse, V1
Using an intangible intensity factor that is orthogonal to the Fama–French factors, we compare the role of intangible investment in predicting stock returns over the periods 1963–1992 and 1993–2022. For 1963–1992, intangible investment is weak in predicting stock returns, but for 1993–2022, the predictive power of intangible investment becomes very... |
May 16, 2025
Liu, Jinsong; Pang, Jiaren; Zhang, Xinyi; Zhou, Xi, 2025, "Replication Data for: Does Disclosing Well Lead to Doing Good?", https://doi.org/10.7910/DVN/X1Y31O, Harvard Dataverse, V1, UNF:6:yBksuSbzBpMYg0sKtpS4/g== [fileUNF]
Firms in China increase green innovation following a mandate that requires them to regularly disclose their corporate social responsibility (CSR) activities. This effect is primarily concentrated in firms with greater innovation capability, stronger innovation incentives, and more financial flexibility. Further analyses show that the CSR disclosure... |
May 16, 2025
Ivashchenko, Alexey, 2025, "Replication Data for: Call Me Maybe: Corporate Bond Prices Upon Missed Call Opportunities", https://doi.org/10.7910/DVN/HJ2F4V, Harvard Dataverse, V1
In a sample of discretely callable corporate bonds, we find excess returns of approximately 40 bps realized on the release of the issuer’s decision to call or not to call. The bonds that could have been profitably called (in-the-money bonds) but are not called contribute the most to the bond price jump. We attribute the jump to the revaluation of a... |
Apr 17, 2025
Mehran Azimi; Soroush Ghazi; Mark Schneider, 2025, "Probability weighting and equity premium prediction: Investing with optimism", https://doi.org/10.7910/DVN/BAG71D, Harvard Dataverse, V1, UNF:6:Xv9kRJoFezUjZTlmCv/IVw== [fileUNF]
Empirically motivated theoretical models of probability weighting which overweight tail events are finding many applications in finance. However, probability weighting has not yet been applied to equity premium prediction or to constructing optimal market timing investment strategies. We show that a measure of market optimism from a representative... |
Apr 17, 2025
Petrou, Zacharias, 2025, "Implicit promises and the timing of defined benefit pension plan freezes", https://doi.org/10.7910/DVN/R5KOD5, Harvard Dataverse, V1, UNF:6:pL654dq4vXUnezWFBSMcfg== [fileUNF]
Replication Data for: "Implicit promises and the timing of defined benefit pension plan freezes" |
Mar 13, 2025
Ottolenghi, Ezgi, 2025, "Replication Data for: Control Risk Premium: Dual-Class Shares, Family Ownership, and Minority Investor Returns", https://doi.org/10.7910/DVN/AZXSQF, Harvard Dataverse, V1, UNF:6:Pi8EPz75dBgArQjzrLOCiA== [fileUNF]
Despite exhibiting significant valuation discounts, dual-class shares surged from 1% of initial public offerings in 1980 to nearly half in recent years. This study investigates the potential harm of such structures by examining the identity and returns of minority shareholders. We find that sophisticated investors predominantly hold low-voting shar... |
Mar 12, 2025
Prevost, Andrew, 2025, "Replication Data for: The impact of unions on compensation consultants and CEO pay", https://doi.org/10.7910/DVN/DIYENF, Harvard Dataverse, V1
Research on executive compensation finds unions to be associated with lower executive compensation, particularly incentive pay, while other work documents the role of compensation consultants in facilitating stronger CEO incentives and pay. We propose and test the implications of a simple theoretical framework that integrates these empirical findin... |
Mar 3, 2025
Zhou, Lei, 2025, "Replication Data for: Are investor-paid credit ratings superior?", https://doi.org/10.7910/DVN/YEH2AX, Harvard Dataverse, V1
We conduct pairwise comparisons of corporate bond ratings between three issuer-paid credit rating agencies (CRAs) and one investor-paid CRA regarding rating standard, accuracy, stability, and market impact. We find that neither compensation model results in more stringent or accurate ratings. While issuer-paid S&P ratings are more stringent and acc... |
Feb 27, 2025
Lynch, John; Ogden, Richard, 2025, "Replication Data for: Bounded support: Success and limitations of liquidity support during times of crisis", https://doi.org/10.7910/DVN/HZU3GH, Harvard Dataverse, V1, UNF:6:y6ofcbyjgD24459nzJXI6g== [fileUNF]
Our paper sheds light on the complexity of liquidity injection programs by showing unintended consequences that arise when firm heterogeneity is overlooked. Utilizing firm-level data from the Paycheck Protection Program, we find government lending effectively reduced closures, particularly if received during the first two weeks. However, we find si... |
