Healy and Palepu, J. Account. Econ.(2001), this issue, provide a broad review of the
empirical disclosure literature. This discussion focuses on the empirical voluntary disclosure …

This survey reviews the literature on sell-side analysts' forecasts and their implications for
asset pricing. We review the literature on the supply and demand forces shaping analysts' …

We investigate whether environmental, social, and governance (ESG) ratings predict future
ESG news and the associated market reactions. We find that the consensus rating predicts …

We provide data and code that successfully reproduces nearly all cross-sectional stock
return predictors. Our 319 characteristics draw from previous meta-studies, but we differ by …

Hundreds of papers and factors attempt to explain the cross-section of expected returns.
Given this extensive data mining, it does not make sense to use the usual criteria for …

This study posits that security analysts heed corporate social performance information and
factor it into their recommendations to general investors. In particular, as corporate social …

Disclosure: In addition to being a professor at Yale University, the author is currently working
part-time with Standard & Poor's to produce home price indices; with the Chicago Mercantile …

Is “Being Green” Rewarded in the Market? An Empirical Investigation of Decarbonization Risk
and Stock Returns Page 1 Is “Being Green” Rewarded in the Market? An Empirical Investigation …

Individual investors who hold common stocks directly pay a tremendous performance
penalty for active trading. Of 66,465 households with accounts at a large discount broker …

Our objective is to penetrate the “black box” of sell‐side financial analysts by providing new
insights into the inputs analysts use and the incentives they face. We survey 365 analysts …