Working papers
Sell-Side Research and Buy-Side Agency Issues
(with Wei Zhao) [SSRN link]
We show how sell-side research can make buy-side managers’ moral hazard issues more severe.
Who Benefits (More) from the Growth of Data?
Financial institutions do not benefit equally when the amount of data increases. It depends on the type of data and institutions’/analysts’ relative advantages.
Work in progress
Working with Machines
(with Jean-Edouard Colliard)
Who Pays for Information?
(with Giovanni Cespa and Wei Zhao)
What do Machines Learn?
(with Jin Guo)
Inactive working paper
Financial Advisors in the Private Market