Job Market Paper
Cross-industry Technological Information Spillovers through Analyst Networks
Presentations: EFA Doctoral Tutorial 2024, CICF 2025, FMA 2025, 18th International Behavioral Finance Conference, Oxford Saïd, Warwick Business School
Summary: Equity analysts act as conduits for the cross-industry diffusion of technological information, fostering firm innovation and enhancing market efficiency.
Working Papers
Information Processing Efficiency, Analyst Behavior, and Predictable Returns
with Alok Kumar (Miami)
Semi-finalist for FMA Best Paper Award
Presentations: FMA 2025, FMA Asia 2025 (scheduled), Warwick Business School, Oxford Saïd
Summary: This paper proposes a new measure of informational processing efficiency (IPE) of sell-side equity analysts. IPE affects forecast performance of analysts and aggregate price efficiency.
with Söhnke M. Bartram (Warwick), Vidhi Chhaochharia (Miami), and Alok Kumar (Miami)
Presentations: Warwick Business School, Miami Herbert Business School
Summary: We find that analysts issue more accurate forecasts for non-local firms in their coverage portfolios by observing the forecasts of local analysts.
AI-Powered Alpha: Evidence from Fund Managers' AI Usage
with Shumiao Ouyang (Oxford) (Work in progress)
Summary: We use daily AI usage of fund managers to quantify the impact of AI on mutual fund investment behaviors.
Review Article
(Generative) AI in Financial Economics
with Shumiao Ouyang (Oxford)
Summary: This review article synthesizes the burgeoning literature on the intersection of AI and finance.