Using the Dow Jones Industrial Average Index record breaking days as a proxy for market wide attention, we show that as the aggregate stock market intensifies investor attention, stock market response to individual firms’ earnings announcements significantly increases. We hypothesize that there are many channels for the attention spill-over effect and document strong supportive evidence of one ...

Abstract We investigate the effects of using different sources investment leverage, that is, securities with embedded leverage and traditional margin accounts, on portfolio performance retail investors, recognizing these may be conditional investor attention. find investors who trade underperform those do not have accounts; we also trading show even poorer than margin. The negative effect usage...

Abstract We investigate the relationship between investor attention and financial market anomalies. find that anomaly returns tend to be higher following high-attention days. The result is robust after controlling for effect of news in a natural experiment setting which stock regulation rounding errors generate exogenous variations attention. An analysis order imbalances suggests large traders ...

The term ‘investor relations’ (IR) often refers only to the very formal and primarily anonymous relations and communication between publicly traded companies and their (potential) shareholders. Especially for young and not yet publicly traded companies (socalled start-ups), it can be shown that the individual contact to a very small and well-known group of investors (e.g., venture capital inves...