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Closing and cloning in open-end mutual funds
Using a unique dataset, we document that only those closed funds for which no new fund is subsequently launched continuously deliver positive abnormal returns. This suggests the existence of an optimal fund scale. In spite ...
Information Diffusion of Upstream and Downstream Industry-wide Earnings Surprises and Its Implications
(Springer Verlag, 2017-05-24)
This study presents new evidence that industry-wide earnings surprises indeed diffuse gradually across the supply chain at both industry and individual-firm levels. This evidence provides fundamental support for studies ...