“...The consensus wisdom of active mutual fund managers, as reflected in their average over- and underweighting decisions, contains valuable information about...”

“...markdownabstractMutual fund flows respond significantly to the return gap, which captures information about unobserved actions of mutual funds and predicts...”

“...In this paper, we analyze the economic value of predicting stock index returns as well as volatility. On the basis of simple linear models, estimated...”

“...•We construct a trading strategy which front-runs anticipated mutual fund fire-sales.•The front-running strategy is based on publicly available information...”

“...An important feature of panel data is that it allows the estimation of parameters characterizing dynamics from individual level data. Several authors argue...”

“...This paper extends the basic pecking order model of Shyam-Sunder and Myers by separating the effects of financing surpluses, normal deficits, and large...”

“...The average U.S. firm has less leverage than one would expect based on the trade‐off between tax shields and bankruptcy costs. We focus on firms’ financial...”

“...This article examines the relationship between two alternative approaches, instrumental variables and control function procedures, for estimating the impact of...”