We propose a new and direct measure of investor attention using search frequency in Google
(Search Volume Index (SVI)). In a sample of Russell 3000 stocks from 2004 to 2008, we …

We use daily Internet search volume from millions of households to reveal market-level
sentiment. By aggregating the volume of queries related to household concerns (eg, “recession,” “…

I link an asset's risk premium to two characteristics of its underlying cash flow: covariance
and duration. Using empirically novel estimates of both cash flow characteristics based …

We propose a direct measure of abnormal institutional investor attention (AIA) using news
searching and news reading activity for specific stocks on Bloomberg terminals. AIA is highly …

A central issue in finance is whether stock prices move because of revisions in expected
cash flows or discount rates, and by how much of each. Using direct cash flow forecasts, we …

Stock returns unexplained by “fundamentals,” such as cash flow news, are more likely to
reverse in the short run than those linked to fundamental news. Making novel use of analyst …

When will a large group provide an accurate answer to a question involving quantity estimation?
We empirically examine this question on a crowd-based corporate earnings forecast …

Wheat productivity is severely affected by soil salinity mainly due to Na + toxicity to plant cells.
To improve the yield performance of wheat in saline soils, we have generated transgenic …

We test a frog-in-the-pan (FIP) hypothesis that predicts investors are inattentive to information
arriving continuously in small amounts. Intuitively, we hypothesize that a series of frequent …

We argue that the empirical evidence against the capital asset pricing model (CAPM) based
on stock returns does not invalidate its use for estimating the cost of capital for projects in …