Daniel Carvalho

3Oguzhan Ozbas
2Andrei Shleifer
2John Matsusaka
2Wayne Ferson
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I examine how media coverage of good and bad corporate news affects stock prices, by studying the effect of investor relations (IR) firms. I find that IR firms " spin " their clients' news, generating more media coverage of positive press releases than negative press releases. This spin increases announcement returns. Around earnings announcements, however,(More)
This paper experimentally analyzes the schooling decisions of poor households in urban Brazil. We elicit parents' choices between monthly government transfers conditional on their adolescent child attending school and guaranteed, unconditional transfers of varying sizes. In the baseline treatment, an overwhelming majority of parents prefer conditional(More)
  • Selale Tuzel, Ben Miao, Zhang, Ken Ahern, Frederico Belo, Jonathan Berk +23 others
  • 2015
This article provides a new link between …rm location and stock returns. We show that the industrial composition of a local economy, in particular, how cyclical its industries are, a¤ects …rm risk. We propose a metric of this cyclicality, labeled " local beta " , and demonstrate that local factor prices such as wages and real estate prices are more(More)
We model the current system of refugee protection as a contract that bound states to provide a more efficient level of the public good of refugee protection. We show how the screening problem caused by economic migration has strengthened states' incentives to shade on their obligations under the 1951 Convention, resulting in more refoulement of refugees to(More)
Fluorescence in situ hybridization (FISH) employing nucleic acid mimics as probes is becoming an emerging molecular tool in the microbiology area for the detection and visualization of microorganisms. However, the impact that locked nucleic acid (LNA) and 2′-O-methyl (2′-OMe) RNA modifications have on the probe that is targeting microorganisms is unknown.(More)
The built-in piezoelectric fields in group III-nitrides can act as road blocks on the way to maximizing the efficiency of opto-electronic devices. In order to overcome this limitation, a proper characterization of these fields is necessary. In this work nano-beam electron diffraction in scanning transmission electron microscopy mode has been used to(More)
Higher firm equity volatility is often associated with non-fundamental trading by investors or constraints on firms' ability to insulate their value from economic risks. This paper provides evidence that an important determinant of higher equity volatility among R&D-intensive firms is fewer financing constraints on firms' ability to access growth options. I(More)
  • Sava Paul, Committee, Martin Prof Paul, Michael Edwin Mooney, Ilya Nissen, Tsvankin +3 others
  • 2015
For various wavefield types, one can formulate a measurement of the mechanical energy that satisfies conservation laws. Based on this formulation, one can derive an energy norm that is applicable to wavefield imaging. Extending the concept of the norm to an inner product, one can compare two related wavefields. Therefore, an imaging condition can be defined(More)