User profiles for Joel Peress
Joel PeressINSEAD Verified email at insead.edu Cited by 4644 |
The media and the diffusion of information in financial markets: Evidence from newspaper strikes
J Peress - the Journal of Finance, 2014 - Wiley Online Library
The media are increasingly recognized as key players in financial markets. I investigate their
causal impact on trading and price formation by examining national newspaper strikes in …
causal impact on trading and price formation by examining national newspaper strikes in …
Media coverage and the cross‐section of stock returns
By reaching a broad population of investors, mass media can alleviate informational frictions
and affect security pricing even if it does not supply genuine news. We investigate this …
and affect security pricing even if it does not supply genuine news. We investigate this …
Wealth, information acquisition, and portfolio choice
J Peress - The Review of Financial Studies, 2004 - academic.oup.com
I solve (with an approximation) a Grossman-Stiglitz economy under general preferences, thus
allowing for wealth effects. Because information generates increasing returns, decreasing …
allowing for wealth effects. Because information generates increasing returns, decreasing …
Product market competition, insider trading, and stock market efficiency
J Peress - The Journal of Finance, 2010 - Wiley Online Library
How does competition in firms' product markets influence their behavior in equity markets?
Do product market imperfections spread to equity markets? We examine these questions in a …
Do product market imperfections spread to equity markets? We examine these questions in a …
Does media coverage of stocks affect mutual funds' trading and performance?
We study the relation between mutual fund trades and mass media coverage of stocks. We
find that funds exhibit persistent differences in their propensity to buy media-covered stocks. …
find that funds exhibit persistent differences in their propensity to buy media-covered stocks. …
Glued to the TV: Distracted noise traders and stock market liquidity
In this paper, we study the impact of noise traders’ limited attention on financial markets.
Specifically, we exploit episodes of sensational news (exogenous to the market) that distract …
Specifically, we exploit episodes of sensational news (exogenous to the market) that distract …
Do demand curves for currencies slope down? Evidence from the MSCI global index change
Traditional portfolio balance theory derives a downward sloping currency demand function
from limited international asset substitutability. Historically, this theory enjoyed little empirical …
from limited international asset substitutability. Historically, this theory enjoyed little empirical …
Learning from stock prices and economic growth
J Peress - The Review of Financial Studies, 2014 - academic.oup.com
A competitive stock market is embedded into a neoclassical growth economy to analyze the
interplay between the acquisition of information about firms, its partial revelation through …
interplay between the acquisition of information about firms, its partial revelation through …
The tradeoff between risk sharing and information production in financial markets
J Peress - Journal of Economic Theory, 2010 - Elsevier
The production of information in financial markets is limited by the extent of risk sharing. The
wider a stock's investor base, the smaller the risk borne by each shareholder and the less …
wider a stock's investor base, the smaller the risk borne by each shareholder and the less …
Noise traders incarnate: Describing a realistic noise trading process
We estimate a realistic process for noise trading to help theorists derive predictions from noisy
rational expectations models. We characterize the trades of individual investors, who are …
rational expectations models. We characterize the trades of individual investors, who are …