… related to that of Chib and Zeng (2019), requires fewer prior … we refer to as the Chib, Zeng,
and Zhao priors and marginal … of the BS and Chib, Zeng, and Zhao methods, respectively. …

A key question for understanding the cross-section of expected returns of equities is the
following: which factors, from a given collection of factors, are risk factors, equivalently, which …

The authors use the COVID-19 crisis as an example to highlight two dimensions of beta
instability that have been largely overlooked: First, the relative order in stock betas could change …

The emergence of environmental, social, and governance (ESG) investing resulted in a
flurry of studies examining the effects of incorporating ESG considerations on portfolio …

In this paper we develop an easily implemented Bayesian strategy for improved forecasts of
the market excess returns. This strategy relies on 1) the use of multiple predictors in the …

Previous studies have found that stock prices incorporate information from earnings
announcements only gradually over an extended period. The authors investigate whether credit …

We make a case that characteristics-based long-short factors should be constructed by the
slope factor method rather than by sorting methods. This is because sorting does not fully …

Follicular helper T (T FH ) cells are a specialized subset of CD4 + T cells that essentially
support germinal center responses where high-affinity and long-lived humoral immunity is …

The increased role played by passive equity investors is associated with significant changes
in intraday trading patterns. The authors study the dynamics of stock index returns in major …

Objectives A randomized, parallel controlled, open-label clinical trial was conducted to
evaluate the effect of a botanic compound berberine (BBR) on NAFLD. Methods A randomized, …