Being Innovative Pays Off, But When?

Funded Research Proposal

The research objective is to determine how quickly product innovation translates into higher stock market valuations. The novelty in the research approach is using online consumer reviews on websites including Amazon, eBay; combined with stock market data.Read More

Risk Factors That Matter: Textual Analysis of Risk Disclosures for the Cross-Section of Returns

Working Papers

Using unsupervised machine learning, I introduce interpretable and economically relevant risk factors that characterize the cross-section of returns better than the leading factor models, furthermore, I do not use any information from the past returns to select the risk factors. Read More