In this paper, we study the impact of noise traders' limited attention on financial markets.
Specifically, we exploit episodes of sensational news (exogenous to the market) that distract …

We survey the growing academic literature using Abel Noser data, including 55 publications
thus far. We analyze publication patterns to explore how the availability of a specialized …

Abstract Theory suggests that dark pools may facilitate or discourage information
acquisition. We find that more dark pool trading leads to greater information acquisition. We …

We examine institutional trading surrounding corporate news by combining a
comprehensive database of newswire releases on US firms with a high-frequency database …

This paper explores how mutual fund groups set the price of in-house transactions among
affiliated funds. We collect a data set of four million equity transactions and compare the …

We investigate hedge fund firms' unobserved performance (UP), measured as the risk‐
adjusted return difference between a firm's reported gross return and its portfolio return …

We exploit detailed transaction and position data for a sample of long-short equity hedge
funds to study the trading activity of fundamental investors. We find that hedge funds exhibit …

We document statistically significant relations between mutual fund betas and past market
returns driven by fund feedback trading. Against this backdrop, evidence of “artificial” market …

We provide evidence that losses constrain short sellers but not the transmission of
information to prices. Using unique data on US equity lending, we document a negative …

Hedge funds are dynamic, versatile, opaque, and, according to BarclayHedge, their assets
under management have nearly doubled from $2.6 trillion in 2015 to $4.9 trillion in 2021. In …