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- Publications
- Influence
The Causal Impact of Media in Financial Markets
- J. Engelberg, C. A. Parsons
- Economics
- 28 October 2009
It is challenging to disentangle the causal impact of media reporting from the impact of the events being reported. We solve this problem by comparing the behaviors of investors with access to… Expand
Friends with Money
- J. Engelberg, P. Gao, C. A. Parsons
- Economics
- 8 February 2010
When banks and firms are connected through interpersonal linkages – such as their respective management having attended college or previously worked together – interest rates are markedly reduced,… Expand
Comparing the Point Predictions and Subjective Probability Distributions of Professional Forecasters
- J. Engelberg, C. Manski, J. Williams
- Economics
- 1 January 2006
We use data from the Survey of Professional Forecasters (SPF) to compare point predictions of gross domestic product (GDP) growth and inflation with the subjective probability distributions held by… Expand
Costly Information Processing: Evidence from Earnings Announcements
- J. Engelberg
- Economics
- 18 January 2008
I examine the role of information processing costs on post earnings announcement drift. I distinguish between hard information - quantitative information that is more easily processed - and soft… Expand
How are Shorts Informed? Short Sellers, News, and Information Processing
- J. Engelberg, A. Reed, Matthew C. Ringgenberg
- Business
- 1 August 2012
We find that a substantial portion of short sellers’ trading advantage comes from their ability to analyze publicly available information. Using a database of short sales combined with a database of… Expand
An Anatomy of Pairs Trading: The Role of Idiosyncratic News, Common Information and Liquidity
- J. Engelberg, P. Gao, R. Jagannathan
- Business
- 17 November 2008
"Pairs trading" involves taking a bet that the price paths of two stocks that have historically moved together will converge again after any divergence. Consistent with the view that profits to pairs… Expand
The Price of a CEO's Rolodex
- J. Engelberg, P. Gao, C. A. Parsons
- Economics
- 1 May 2012
CEOs with large networks earn more than those with small networks. An additional connection to an executive or director outside the firm increases compensation by about $17,000 on average, more so… Expand
Journalists and the Stock Market
- C. Dougal, J. Engelberg, D. García, C. A. Parsons
- Economics
- 3 February 2011
We use exogenous scheduling of Wall Street Journal columnists to identify a causal relation between financial reporting and stock market performance. To measure the media's unconditional effect, we… Expand
Networks and Productivity: Causal Evidence from Editor Rotations
- Jonathan Brogaard, J. Engelberg, C. A. Parsons
- Political Science
- 1 April 2012
Using detailed publication and citation data for over 50,000 articles from 30 major economics and finance journals, we investigate whether network proximity to an editor influences research… Expand
How are shorts informed
- J. Engelberg, A. Reed, Matthew C. Ringgenberg
- Economics
- 1 August 2012
We find that a substantial portion of short sellers' trading advantage comes from their ability to analyze publicly available information. Using a database of short sales combined with a database of… Expand