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

Working Papers

I introduce risk factors that not only explain the cross-section of returns, but also unambiguously represent economic risk for the firms, are interpretable, and come directly from the companies. I exploit machine learning and natural language processing techniques to identify from the 10-K annual reports the types of risks that firms face, and to quantify how much each firm is exposed to each type of risk.Read More

The Impact of e-Visits on Visit Frequencies and Patient Health: Evidence from Primary Care

Published Research

Secure messaging, or “e-visits,” between patients and providers has sharply increased in recent years, and many hope they will help improve healthcare quality, while increasing provider capacity. Using a panel data set from a large healthcare system in the United States, we find that e-visits trigger about 6% more office visits, with mixed results on phone visits and patient health.Read More

Analyzing Knowledge Communities Using Foreground and Background Clusters

Published Research

Insight into the growth (or shrinkage) of “knowledge communities” of authors that build on each other’s work can be gained by studying the evolution over time of clusters of documents. We cluster documents based on the documents they cite in common using the Streemer clustering method, which finds cohesive foreground clusters (the knowledge communities) embedded in a diffuse background.Read More