Harrison G. Hong

Columbia University, Graduate School of Arts and Sciences, Department of Economics

420 W. 118th Street

New York, NY 10027

United States

National Bureau of Economic Research (NBER)

Research Associate

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

64

DOWNLOADS
Rank 385

SSRN RANKINGS

Top 385

in Total Papers Downloads

67,148

SSRN CITATIONS
Rank 142

SSRN RANKINGS

Top 142

in Total Papers Citations

2,175

CROSSREF CITATIONS

2,207

Scholarly Papers (64)

What Does Futures Market Interest Tell Us about the Macroeconomy and Asset Prices?

Journal of Financial Economics (JFE), Vol. 105, No. 3, 2012, AFA 2010 Atlanta Meetings Paper
Number of pages: 46 Posted: 22 Mar 2009 Last Revised: 24 Jun 2012
Harrison G. Hong and Motohiro Yogo
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Princeton University - Department of Economics
Downloads 4,053 (3,425)
Citation 13

Abstract:

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Bonds, Business cycle, Commodities, Currencies, Futures market, Inflation

What Does Futures Market Interest Tell Us About the Macroeconomy and Asset Prices?

NBER Working Paper No. w16712
Number of pages: 47 Posted: 24 Jan 2011 Last Revised: 02 Mar 2022
Harrison G. Hong and Motohiro Yogo
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Princeton University - Department of Economics
Downloads 95 (373,835)
Citation 31

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2.
Downloads 3,521 ( 4,406)
Citation 34

Speculative Betas

Journal of Finance, Forthcoming
Number of pages: 84 Posted: 03 Dec 2011 Last Revised: 21 Nov 2015
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Princeton UniversityUniversity of California, Berkeley
Downloads 3,461 (4,441)
Citation 5

Abstract:

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Speculative Betas

NBER Working Paper No. w18548
Number of pages: 51 Posted: 20 Nov 2012 Last Revised: 07 Mar 2022
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Princeton UniversityUniversity of California, Berkeley
Downloads 60 (485,994)
Citation 15

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Do Managers Do Good with Other Peoples' Money?

AFA 2013 San Diego Meetings Paper, UCD & CalPERS Sustainability & Finance Symposium 2013, Fama-Miller Working Paper, Chicago Booth Research Paper No. 12-47
Number of pages: 49 Posted: 20 Nov 2011 Last Revised: 07 Oct 2020
Ing-Haw Cheng, Harrison G. Hong and Kelly Shue
University of Toronto - Rotman School of Management, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Yale School of Management
Downloads 3,364 (4,787)
Citation 19

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ESG, CSR, agency costs

4.

The Price of Sin: The Effects of Social Norms on Markets

Sauder School of Business Working Paper, AFA 2008 New Orleans Meetings Paper, EFA 2006 Zurich Meetings
Number of pages: 50 Posted: 05 Aug 2005
Marcin T. Kacperczyk and Harrison G. Hong
Imperial College London - Accounting, Finance, and Macroeconomics and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 3,350 (4,833)
Citation 162

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social norms, financial markets, sin stocks

Regression Discontinuity and the Price Effects of Stock Market Indexing

Review of Financial Studies, Vol. 28, No. 1, 2015
Number of pages: 53 Posted: 03 Jul 2013 Last Revised: 19 Jul 2015
Yen-Cheng Chang, Harrison G. Hong and Inessa Liskovich
National Taiwan University - College of Management, Columbia University, Graduate School of Arts and Sciences, Department of Economics and University of Texas at Austin - Department of Finance
Downloads 2,583 (7,274)
Citation 10

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index inclusion, regression discontinuity

Rules and Regression Discontinuities in Asset Markets

Number of pages: 46 Posted: 29 Aug 2011 Last Revised: 13 Aug 2013
Yen-Cheng Chang and Harrison G. Hong
National Taiwan University - College of Management and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 696 (51,540)
Citation 3

Abstract:

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portfolio rules, regression discontinuity, index inclusion

Regression Discontinuity and the Price Effects of Stock Market Indexing

NBER Working Paper No. w19290
Number of pages: 54 Posted: 10 Aug 2013 Last Revised: 18 Mar 2022
Yen-Cheng Chang, Harrison G. Hong and Inessa Liskovich
National Taiwan University - College of Management, Columbia University, Graduate School of Arts and Sciences, Department of Economics and University of Texas at Austin - Department of Finance
Downloads 28 (653,946)
Citation 48

Abstract:

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6.
Downloads 2,827 ( 6,412)
Citation 5

Days to Cover and Stock Returns

29th Australasian Finance and Banking Conference 2016
Number of pages: 63 Posted: 26 Feb 2015 Last Revised: 11 Nov 2016
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Singapore Management University - Lee Kong Chian School of Business, Hong Kong Baptist University (HKBU), Columbia University and Quantitative Investment Strategies, Goldman Sachs Asset Management
Downloads 2,767 (6,505)
Citation 2

Abstract:

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Days to Cover, Crowded Trades, Stock Returns

Days to Cover and Stock Returns

NBER Working Paper No. w21166
Number of pages: 51 Posted: 18 May 2015 Last Revised: 02 May 2022
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Singapore Management University - Lee Kong Chian School of Business, Hong Kong Baptist University (HKBU), Columbia University and Quantitative Investment Strategies, Goldman Sachs Asset Management
Downloads 60 (485,994)
Citation 3

Abstract:

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7.
Downloads 2,790 ( 6,555)
Citation 20

Financial Constraints on Corporate Goodness

Number of pages: 49 Posted: 04 Jan 2011 Last Revised: 26 Apr 2012
Harrison G. Hong, Jeffrey D. Kubik and José Scheinkman
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Syracuse University - Department of Economics and Columbia University
Downloads 2,374 (8,289)
Citation 16

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Corporate Social Responsibility, Socially Responsible Investing, Financial Constraints, Financial Slack, Externalities, Public Goods

Financial Constraints on Corporate Goodness

AFA 2012 Chicago Meetings Paper
Number of pages: 44 Posted: 14 Mar 2011
Jeffrey D. Kubik, José Scheinkman and Harrison G. Hong
Syracuse University - Department of Economics, Columbia University and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 325 (129,055)
Citation 7

Abstract:

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Corporate Social Responsibility, Socially Responsible Investing, Financial Constraints, Financial Slack, Externalities, Public Goods

Financial Constraints on Corporate Goodness

NBER Working Paper No. w18476
Number of pages: 48 Posted: 20 Oct 2012 Last Revised: 27 Jun 2021
Harrison G. Hong, Jeffrey D. Kubik and José Scheinkman
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Syracuse University - Department of Economics and Columbia University
Downloads 91 (384,306)
Citation 3

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Yesterday's Heroes: Compensation and Risk at Financial Firms

AFA 2011 Denver Meetings Paper, ECGI - Finance Working Paper No. 285/2010
Number of pages: 53 Posted: 11 Nov 2009 Last Revised: 31 May 2014
Ing-Haw Cheng, Harrison G. Hong and José Scheinkman
University of Toronto - Rotman School of Management, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Columbia University
Downloads 2,323 (8,544)
Citation 17

Abstract:

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financial crisis, executive compensation

Yesterday's Heroes: Compensation and Creative Risk-Taking

NBER Working Paper No. w16176
Number of pages: 41 Posted: 12 Jul 2010 Last Revised: 14 Mar 2022
Ing-Haw Cheng, Harrison G. Hong and José Scheinkman
University of Toronto - Rotman School of Management, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Columbia University
Downloads 119 (320,646)
Citation 1

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Forecasting Crashes: Trading Volume, Past Returns and Conditional Skewness in Stock Prices

Number of pages: 47 Posted: 03 Jan 2000
Joseph Chen, Harrison G. Hong and Jeremy C. Stein
University of California, Davis - Graduate School of Management, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 1,890 (11,982)
Citation 22

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Forecasting Crashes: Trading Volume, Past Returns and Conditional Skewness in Stock Prices

NBER Working Paper No. w7687
Number of pages: 49 Posted: 16 May 2000 Last Revised: 04 Jul 2022
Joseph Chen, Harrison G. Hong and Jeremy C. Stein
University of California, Davis - Graduate School of Management, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 230 (183,422)
Citation 57

Abstract:

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Crime, Punishment and the Value of Corporate Social Responsibility

Number of pages: 44 Posted: 06 Sep 2014 Last Revised: 14 Oct 2019
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Syracuse University - Department of Economics, University of Texas at Austin - Department of Finance and Columbia University
Downloads 1,941 (11,524)
Citation 15

Abstract:

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Corporate Social Responsibility, Foreign Corrupt Practices Act, Halo Effect

Crime, Punishment and the Halo Effect of Corporate Social Responsibility

NBER Working Paper No. w21215
Number of pages: 47 Posted: 01 Jun 2015 Last Revised: 20 Jun 2022
Harrison G. Hong and Inessa Liskovich
Columbia University, Graduate School of Arts and Sciences, Department of Economics and University of Texas at Austin - Department of Finance
Downloads 98 (366,598)
Citation 5

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Downloads 1,993 ( 11,268)
Citation 76

Climate Risks and Market Efficiency

Journal of Econometrics, Forthcoming
Number of pages: 42 Posted: 09 May 2016 Last Revised: 08 Sep 2017
Harrison G. Hong, Frank Weikai Li and Jiangmin Xu
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Singapore Management University - Lee Kong Chian School of Business and Peking University - Guanghua School of Management
Downloads 1,929 (11,590)
Citation 2

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Climate Risks, Climate Change, Stock Market, Efficiency, Return Predictability

Climate Risks and Market Efficiency

NBER Working Paper No. w22890
Number of pages: 79 Posted: 05 Dec 2016
Harrison G. Hong, Frank Weikai Li and Jiangmin Xu
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Singapore Management University - Lee Kong Chian School of Business and Peking University - Guanghua School of Management
Downloads 64 (470,258)
Citation 54

Abstract:

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12.

Do Security Analysts Discipline Credit Rating Agencies?

Review of Corporate Finance Studies: Forthcoming
Number of pages: 53 Posted: 12 Dec 2011 Last Revised: 18 Apr 2022
University of New South Wales - School of Banking and Finance, Columbia University, Graduate School of Arts and Sciences, Department of Economics, Imperial College London - Accounting, Finance, and Macroeconomics and Syracuse University - Department of Economics
Downloads 1,976 (11,431)
Citation 23

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credit rating agencies, rating bias, competition

13.

Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization

American Economic Review, Vol. 94, No. 5, 2004
Number of pages: 51 Posted: 27 Feb 2003 Last Revised: 12 Feb 2010
Joseph Chen, Harrison G. Hong, Ming Huang and Jeffrey D. Kubik
University of California, Davis - Graduate School of Management, Columbia University, Graduate School of Arts and Sciences, Department of Economics, Cornell University - Samuel Curtis Johnson Graduate School of Management and Syracuse University - Department of Economics
Downloads 1,805 (13,141)
Citation 171

Abstract:

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14.

Robust Measures of Earnings Surprises

Journal of Finance, Forthcoming
Number of pages: 52 Posted: 29 Jul 2014 Last Revised: 06 May 2018
Chin-Han Chiang, Wei Dai, Jianqing Fan, Harrison G. Hong and Jun Tu
Independent, Princeton University - Department of Operations Research & Financial Engineering (ORFE), Princeton University - Bendheim Center for Finance, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Singapore Management University
Downloads 1,704 (14,438)
Citation 3

Abstract:

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Event Studies, Efficient Markets, Earnings Announcements, Post-Earnings Announcement Drift

15.
Downloads 1,403 ( 19,372)
Citation 18

Quiet Bubbles

Number of pages: 44 Posted: 22 Feb 2011 Last Revised: 21 Nov 2011
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Princeton UniversityUniversity of California, Berkeley
Downloads 1,373 (19,629)
Citation 3

Abstract:

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Bubbles, Financial Crisis, Sub-Prime Mortgage Securities, Credit

Quiet Bubbles

NBER Working Paper No. w18547
Number of pages: 43 Posted: 20 Nov 2012 Last Revised: 07 Mar 2021
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Princeton UniversityUniversity of California, Berkeley
Downloads 30 (640,016)
Citation 6

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16.

Do Industries Lead the Stock Market? Gradual Diffusion of Information and Cross-Asset Return Predictability

AFA 2004 San Diego Meetings; Anderson School of Management Working Paper
Number of pages: 42 Posted: 23 Nov 2003
Walter N. Torous, Rossen I. Valkanov and Harrison G. Hong
Massachusetts Institute of Technology, University of California, San Diego (UCSD) - Rady School of Management and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 1,359 (20,286)
Citation 99

Abstract:

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Security Analysts' Career Concerns and Herding of Earnings Forecasts

Number of pages: 35 Posted: 11 Jan 1999
Jeffrey D. Kubik, Amit Solomon and Harrison G. Hong
Syracuse University - Department of Economics, Salomon Smith Barney and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 1,260 (22,373)
Citation 67

Abstract:

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Security Analysts' Career Concerns and Herding of Earnings Forecasts

RAND Journal of Economics, Vol. 31, Issue 1
Posted: 11 Oct 2000
Jeffrey D. Kubik, Amit Solomon and Harrison G. Hong
Syracuse University - Department of Economics, Salomon Smith Barney and Columbia University, Graduate School of Arts and Sciences, Department of Economics

Abstract:

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18.
Downloads 1,180 ( 25,041)
Citation 81

Breadth of Ownership and Stock Returns

AFA 2002 Atlanta Meetings
Number of pages: 48 Posted: 03 Jan 2001
Joseph Chen, Harrison G. Hong and Jeremy C. Stein
University of California, Davis - Graduate School of Management, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 999 (31,365)
Citation 81

Abstract:

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Breadth of Ownership and Stock Returns

NBER Working Paper No. w8151
Number of pages: 49 Posted: 08 Mar 2001 Last Revised: 11 Apr 2021
Joseph Chen, Harrison G. Hong and Jeremy C. Stein
University of California, Davis - Graduate School of Management, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 181 (228,685)
Citation 1

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19.
Downloads 1,153 ( 25,926)
Citation 71

Competition and Bias

EFA 2008 Athens Meetings Paper, AFA 2009 San Francisco Meetings Paper
Number of pages: 54 Posted: 17 Mar 2008
Harrison G. Hong and Marcin T. Kacperczyk
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Imperial College London - Accounting, Finance, and Macroeconomics
Downloads 782 (44,069)
Citation 30

Abstract:

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analyst bias, competition

Competition and Bias

NYU Working Paper No. FIN-08-016
Number of pages: 54 Posted: 09 Mar 2009
Marcin T. Kacperczyk and Harrison G. Hong
Imperial College London - Accounting, Finance, and Macroeconomics and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 371 (111,421)
Citation 37

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20.

Trading for Status

Review of Financial Studies, Vol. 27, No. 11, 2014
Number of pages: 65 Posted: 20 Nov 2011 Last Revised: 30 Mar 2015
Harrison G. Hong, Wenxi Jiang, Na Wang and Bin Zhao
Columbia University, Graduate School of Arts and Sciences, Department of Economics, CUHK Business School, The Chinese University of Hong Kong, Hofstra University - Frank G. Zarb School of Business and Thammasat Business School
Downloads 1,091 (28,088)
Citation 11

Abstract:

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21.

Does Fund Size Erode Performance? Liquidity, Organizational Diseconomies and Active Money Management

Number of pages: 44 Posted: 20 Jun 2003
Joseph Chen, Harrison G. Hong, Ming Huang and Jeffrey D. Kubik
University of California, Davis - Graduate School of Management, Columbia University, Graduate School of Arts and Sciences, Department of Economics, Cornell University - Samuel Curtis Johnson Graduate School of Management and Syracuse University - Department of Economics
Downloads 1,068 (28,920)
Citation 32

Abstract:

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22.

Climate Finance

Number of pages: 19 Posted: 11 Nov 2019
Harrison G. Hong, George Andrew Karolyi and José Scheinkman
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Cornell University - SC Johnson College of Business and Columbia University
Downloads 1,060 (29,241)
Citation 22

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climate change; global warming; heterogeneous beliefs; financial markets; stock returns; real estate prices; institutional investors; registered reports

23.
Downloads 1,041 ( 30,060)
Citation 8

Inferring Latent Social Networks from Stock Holdings

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 58 Posted: 22 Jul 2015 Last Revised: 13 Sep 2017
Harrison G. Hong and Jiangmin Xu
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Peking University - Guanghua School of Management
Downloads 684 (52,704)
Citation 9

Abstract:

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Social Networks, Poisson Regressions, Investor Behavior

Count Models of Social Networks in Finance

Number of pages: 46 Posted: 08 Jan 2014 Last Revised: 22 Jul 2015
Harrison G. Hong and Jiangmin Xu
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Peking University - Guanghua School of Management
Downloads 357 (116,391)

Abstract:

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Social Networks, Poisson Regressions, Investor Behavior

24.

Outsourcing Mutual Fund Management: Firm Boundaries, Incentives and Performance

Number of pages: 58 Posted: 19 Mar 2006 Last Revised: 30 Aug 2012
Joseph Chen, Harrison G. Hong, Wenxi Jiang and Jeffrey D. Kubik
University of California, Davis - Graduate School of Management, Columbia University, Graduate School of Arts and Sciences, Department of Economics, CUHK Business School, The Chinese University of Hong Kong and Syracuse University - Department of Economics
Downloads 1,003 (31,653)
Citation 31

Abstract:

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25.

Do Arbitrageurs Amplify Economic Shocks?

Number of pages: 52 Posted: 02 Mar 2007 Last Revised: 04 Jun 2011
Harrison G. Hong, Jeffrey D. Kubik and Tal Fishman
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Syracuse University - Department of Economics and Princeton University - Bendheim Center for Finance
Downloads 989 (32,281)
Citation 12

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26.

Red and Blue Investing: Values and Finance

Simon School Working Paper No. FR 09-06, EFA 2009 Bergen Meetings Paper
Number of pages: 51 Posted: 10 Aug 2008 Last Revised: 18 Mar 2010
Harrison G. Hong and Leonard Kostovetsky
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Carroll School of Management, Boston College
Downloads 960 (33,700)
Citation 85

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political affiliation, socially responsible investing, mutual funds, hedge funds

27.

Does Diversity Lead to Diverse Opinions? Evidence from Languages and Stock Markets

Rock Center for Corporate Governance at Stanford University Working Paper No. 168, Stanford University Graduate School of Business Research Paper No. 13-16
Number of pages: 53 Posted: 01 Jan 2014 Last Revised: 20 Jan 2015
National Taiwan University - College of Management, Columbia University, Graduate School of Arts and Sciences, Department of Economics, Stanford Graduate School of Business, Hofstra University - Frank G. Zarb School of Business and Thammasat Business School
Downloads 920 (35,775)
Citation 14

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28.

An Epidemiological Approach to Opinion and Price-Volume Dynamics

AFA 2012 Chicago Meetings Paper
Number of pages: 50 Posted: 13 Mar 2010 Last Revised: 13 Nov 2013
Dong Hong, Harrison G. Hong and Andrei Ungureanu
Singapore Management University - Lee Kong Chian School of Business, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Princeton University
Downloads 835 (40,962)
Citation 11

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Word of Mouth, Information Diffusion, Public News, Private News

29.
Downloads 815 ( 42,324)
Citation 60

Social Interaction and Stock Market Participation

Stanford Business School Working Paper
Number of pages: 47 Posted: 21 Jun 2001
Jeffrey D. Kubik, Harrison G. Hong and Jeremy C. Stein
Syracuse University - Department of Economics, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 725 (48,788)
Citation 39

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Stock market participation, social interaction, peer effects, word of mouth learning, consumption externalities

Social Interaction and Stock-Market Participation

NBER Working Paper No. w8358
Number of pages: 48 Posted: 28 Jun 2001 Last Revised: 06 Apr 2022
Jeffrey D. Kubik, Harrison G. Hong and Jeremy C. Stein
Syracuse University - Department of Economics, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 90 (386,965)

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Differences of Opinion, Rational Arbitrage and Market Crashes

Number of pages: 45 Posted: 12 Oct 1999
Harrison G. Hong and Jeremy C. Stein
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 657 (55,567)
Citation 1

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Differences of Opinion, Rational Arbitrage and Market Crashes

NBER Working Paper No. w7376
Number of pages: 50 Posted: 14 Jul 2000 Last Revised: 27 Feb 2022
Harrison G. Hong and Jeremy C. Stein
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 96 (371,409)
Citation 1

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31.

When Some Investors Head for the Exit

AFA 2013 San Diego Meetings Paper
Number of pages: 40 Posted: 20 Nov 2011 Last Revised: 15 Mar 2012
Harrison G. Hong and Wenxi Jiang
Columbia University, Graduate School of Arts and Sciences, Department of Economics and CUHK Business School, The Chinese University of Hong Kong
Downloads 729 (49,091)
Citation 5

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32.
Downloads 703 ( 51,709)
Citation 1

Welfare Consequences of Sustainable Finance

Columbia Business School Research Paper Forthcoming
Number of pages: 55 Posted: 17 Mar 2021 Last Revised: 27 Dec 2021
Harrison G. Hong, Neng Wang and Jinqiang Yang
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Columbia University - Columbia Business School, Finance and Columbia University
Downloads 699 (51,432)

Abstract:

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Sustainable Investing, Decarbonization, Externalities, Mitigation, Climate Tipping Point, Global Warming

Welfare Consequences of Sustainable Finance

NBER Working Paper No. w28595
Number of pages: 56 Posted: 05 Apr 2021 Last Revised: 18 Feb 2022
Harrison G. Hong, Neng Wang and Jinqiang Yang
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Columbia University - Columbia Business School, Finance and Columbia University
Downloads 4 (872,516)
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33.

Speculating on Home Improvements

Journal of Financial Economics (JFE), Forthcoming, Economic Theory Center Working Paper No. 22-2011
Number of pages: 50 Posted: 01 Oct 2010 Last Revised: 31 Dec 2013
Hyun-Soo Choi, Harrison G. Hong and José Scheinkman
KAIST College of Business, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Columbia University
Downloads 688 (52,987)
Citation 7

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Speculation, Home Improvements, Real Estate, Remodeling

34.
Downloads 675 ( 54,252)
Citation 161

Asset Float and Speculative Bubbles

Number of pages: 52 Posted: 28 Feb 2004
José Scheinkman, Wei Xiong and Harrison G. Hong
Columbia University, Princeton University - Department of Economics and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 603 (62,019)
Citation 5

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Speculative Bubbles, Asset Float, Lock-up Expiration, Short-Sales Constraints, Heterogeneous Beliefs

Asset Float and Speculative Bubbles

NBER Working Paper No. w11367
Number of pages: 52 Posted: 24 Jun 2005 Last Revised: 23 Jan 2022
José Scheinkman, Wei Xiong and Harrison G. Hong
Columbia University, Princeton University - Department of Economics and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 72 (441,709)
Citation 36

Abstract:

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Asset Float and Speculative Bubbles

Journal of Finance, Forthcoming
Posted: 29 Aug 2005
José Scheinkman, Wei Xiong and Harrison G. Hong
Columbia University, Princeton University - Department of Economics and Columbia University, Graduate School of Arts and Sciences, Department of Economics

Abstract:

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35.

Talking Up Liquidity: Insider Trading and Investor Relations

AFA 2003 Washington, DC Meetings
Number of pages: 45 Posted: 04 Dec 2002
Ming Huang and Harrison G. Hong
Cornell University - Samuel Curtis Johnson Graduate School of Management and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 665 (55,404)
Citation 15

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36.
Downloads 572 ( 67,139)

A Sticky-Price View of Hoarding

Kilts Center for Marketing at Chicago Booth – Nielsen Dataset Paper Series 1-050
Number of pages: 63 Posted: 21 Nov 2014 Last Revised: 01 Sep 2021
Imperial College Business School, Columbia University, Graduate School of Arts and Sciences, Department of Economics, University College London - Department of Economics and New York University (NYU) - Department of Marketing
Downloads 562 (67,835)

Abstract:

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Retail Hoarding, Sticky Prices, Precaution, Inventory, Rice, Forecast Tests

A Sticky-Price View of Hoarding

NBER Working Paper No. w27051
Number of pages: 64 Posted: 28 Apr 2020 Last Revised: 01 Jun 2022
Imperial College Business School, Columbia University, Graduate School of Arts and Sciences, Department of Economics, University College London - Department of Economics and New York University (NYU) - Department of Marketing
Downloads 10 (809,124)

Abstract:

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Hoard Behavior During Commodity Bubbles

CEPR Discussion Paper No. DP10441
Number of pages: 53 Posted: 24 Feb 2015
Aureo de Paula, Harrison G. Hong and Vishal Singh
University College London - Department of Economics, Columbia University, Graduate School of Arts and Sciences, Department of Economics and New York University (NYU) - Department of Marketing
Downloads 0
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Commodity Bubbles, Commodity Pricing, Hoarding, Rice

A Sticky-Price View of Hoarding

CEPR Discussion Paper No. DP14633
Number of pages: 66 Posted: 08 May 2020 Last Revised: 22 Sep 2021
University College London - Department of Economics, Imperial College Business School, Columbia University, Graduate School of Arts and Sciences, Department of Economics and New York University (NYU) - Department of Marketing
Downloads 0
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37.
Downloads 560 ( 68,925)
Citation 3

Location Choice, Portfolio Choice

2019 Academic Research Colloquium for Financial Planning and Related Disciplines, Journal of Financial Economics (JFE), Forthcoming
Number of pages: 47 Posted: 18 Nov 2016 Last Revised: 07 Nov 2019
Ioannis Branikas, Harrison G. Hong and Jiangmin Xu
University of Oregon, Lundquist College of Business, Department of Finance, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Peking University - Guanghua School of Management
Downloads 531 (72,886)
Citation 1

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Location Choice, Portfolio Choice, Household Finance, Local Bias, Selection Correction

Location Choice, Portfolio Choice

NBER Working Paper No. w23040
Number of pages: 66 Posted: 17 Jan 2017 Last Revised: 16 Jun 2022
Ioannis Branikas, Harrison G. Hong and Jiangmin Xu
University of Oregon, Lundquist College of Business, Department of Finance, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Peking University - Guanghua School of Management
Downloads 29 (646,831)
Citation 2

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38.

Thy Neighbor's Portfolio: Word-of-Mouth Effects in the Holdings and Trades of Money Managers

Harvard Institute of Economic Research Discussion Paper No. 2006
Number of pages: 47 Posted: 02 Jun 2003
Jeffrey D. Kubik, Harrison G. Hong and Jeremy C. Stein
Syracuse University - Department of Economics, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 555 (69,662)
Citation 134

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39.
Downloads 552 ( 70,173)
Citation 39

Simple Forecasts and Paradigm Shifts

Harvard Institute of Economic Research Discussion Paper No. 2007; AFA 2005 Philadelphia Meetings
Number of pages: 49 Posted: 13 Feb 2005
Harrison G. Hong and Jeremy C. Stein
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 514 (75,894)

Abstract:

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Simple Forecasts and Paradigm Shifts

NBER Working Paper No. w10013
Number of pages: 52 Posted: 05 Oct 2003 Last Revised: 13 May 2022
Harrison G. Hong and Jeremy C. Stein
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 38 (590,371)
Citation 11

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Gone Fishin': Seasonality in Trading Activity and Asset Prices

Number of pages: 38 Posted: 13 Mar 2005 Last Revised: 06 Sep 2011
Harrison G. Hong and Jialin Yu
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Hong Kong University of Science & Technology (HKUST) - Department of Finance
Downloads 400 (102,202)
Citation 12

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Seasonality, Turnover, Asset Prices

Gone Fishin': Seasonality in Trading Activity and Asset Prices

Journal of Financial Markets, Vol. 12, No. 4, pp. 672-702, 2008
Number of pages: 47 Posted: 27 Oct 2011
Harrison G. Hong and Jialin Yu
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Hong Kong University of Science & Technology (HKUST) - Department of Finance
Downloads 140 (283,428)
Citation 3

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41.

Inflation Bets on the Long Bond

Review of Financial Studies, Volume 30, Issue 3, 1 March 2017
Number of pages: 85 Posted: 14 Jul 2014 Last Revised: 06 May 2018
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Princeton UniversityUniversity of California, Berkeley and Hong Kong University of Science & Technology (HKUST) - Department of Finance
Downloads 534 (73,161)
Citation 3

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Bond Prices, Term Structure of Interest Rates, Shorting Frictions, Lending Fees, Speculation, Disagreement

42.

A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets

NBER Working Paper No. w6324
Number of pages: 59 Posted: 09 Jul 2000 Last Revised: 14 Apr 2022
Harrison G. Hong and Jeremy C. Stein
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 509 (77,757)
Citation 91

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43.

Measuring the Career Concerns of Security Analysts: Job Separations, Stock Coverage Assignments and Brokerage House Status

Stanford Business School Working Paper
Number of pages: 41 Posted: 12 Sep 2000
Jeffrey D. Kubik and Harrison G. Hong
Syracuse University - Department of Economics and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 477 (83,969)
Citation 2

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44.

Strategic Trading and Learning About Liquidity

Number of pages: 41 Posted: 27 Mar 2000
Sven Rady and Harrison G. Hong
University of Bonn and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 462 (87,258)
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45.
Downloads 442 ( 91,820)
Citation 4

Mitigating Disaster Risks in the Age of Climate Change

Number of pages: 71 Posted: 13 May 2020 Last Revised: 25 Feb 2022
Harrison G. Hong, Neng Wang and Jinqiang Yang
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Columbia University - Columbia Business School, Finance and Shanghai University of Finance and Economics
Downloads 433 (93,226)
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Weather Disasters, Growth, Learning, Mitigation, Market Failure, Climate Change

Mitigating Disaster Risks in the Age of Climate Change

NBER Working Paper No. w27066
Number of pages: 72 Posted: 28 Apr 2020 Last Revised: 16 Jun 2022
Harrison G. Hong, Neng Wang and Jinqiang Yang
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Columbia University - Columbia Business School, Finance and Columbia University
Downloads 9 (819,128)
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46.
Downloads 432 ( 94,239)
Citation 3

Selection versus Talent Effects on Firm Value

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 36 Posted: 05 Jul 2017 Last Revised: 31 Dec 2018
Briana Chang and Harrison G. Hong
University of Wisconsin - Madison - Department of Finance, Investment and Banking and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 419 (96,837)
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CEO, Underwriters, IPO Underpricing, Prestige, Talent, Selection, Sorting

Selection Versus Talent Effects on Firm Value

NBER Working Paper No. w24672
Number of pages: 37 Posted: 04 Jun 2018 Last Revised: 01 Jun 2022
Briana Chang and Harrison G. Hong
University of Wisconsin - Madison - Department of Finance, Investment and Banking and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 13 (779,695)
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47.
Downloads 420 ( 97,394)
Citation 2

Sand States and the US Housing Crisis

Number of pages: 56 Posted: 31 Dec 2013 Last Revised: 13 Apr 2016
KAIST College of Business, Columbia University, Graduate School of Arts and Sciences, Department of Economics, Syracuse University - Department of Economics and New England Public Policy Center, Federal Reserve Bank of Boston
Downloads 399 (102,498)

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Sand States, US Housing Crisis, Investment Homes, Local Bias, Household Portfolio

When Real Estate is the Only Game in Town

NBER Working Paper No. w19798
Number of pages: 57 Posted: 17 Jan 2014 Last Revised: 05 Feb 2022
KAIST College of Business, Columbia University, Graduate School of Arts and Sciences, Department of Economics, Syracuse University - Department of Economics and New England Public Policy Center, Federal Reserve Bank of Boston
Downloads 21 (708,400)

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Sorting Out the Real Effects of Credit Supply

Number of pages: 48 Posted: 09 Apr 2020 Last Revised: 25 Feb 2022
Briana Chang, Matthieu Gomez and Harrison G. Hong
University of Wisconsin - Madison - Department of Finance, Investment and Banking, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 398 (103,097)

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Credit supply, Financial Crises, Matching Model, Credit Risk

Sorting Out the Real Effects of Credit Supply

NBER Working Paper No. w28842
Number of pages: 49 Posted: 24 May 2021 Last Revised: 23 Apr 2022
Briana Chang, Matthieu Gomez and Harrison G. Hong
University of Wisconsin - Madison - Department of Finance, Investment and Banking, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 3 (884,707)
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Reopening Effect of COVID-19 Vaccines on Corporate Earnings

Number of pages: 48 Posted: 12 Sep 2020 Last Revised: 29 Oct 2021
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Syracuse University - Department of Economics, Columbia University - Columbia Business School, Finance, Columbia UniversityColumbia University, Graduate School of Arts and Sciences, Department of Economics and Shanghai University of Finance and Economics
Downloads 320 (131,104)
Citation 5

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COVID-19, pandemic, damage function, corporate earnings, analyst forecasts, vaccine arrival, reopening

Pandemics, Vaccines and an Earnings Damage Function

NBER Working Paper No. w27829
Number of pages: 46 Posted: 21 Sep 2020 Last Revised: 15 Jan 2022
Harrison G. Hong, Jeffrey D. Kubik, Neng Wang, Xu Xu and Jinqiang Yang
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Syracuse University - Department of Economics, Columbia University - Columbia Business School, Finance, Columbia University and Columbia University
Downloads 65 (466,509)

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50.

Bad News Travels Slowly: Size, Analyst Coverage and the Profitability of Momentum Strategies

NBER Working Paper No. w6553
Number of pages: 59 Posted: 13 Jul 2000 Last Revised: 20 Apr 2022
Harrison G. Hong, Terence Lim and Jeremy C. Stein
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Harvard University - Department of Economics
Downloads 367 (113,662)
Citation 54

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Effects of Credit Expansions on Stock Market Booms and Busts

Number of pages: 60 Posted: 15 May 2018 Last Revised: 11 Mar 2022
Imperial College Business School, Columbia University, Graduate School of Arts and Sciences, Department of Economics, CUHK Business School, The Chinese University of Hong Kong, Peking University - Guanghua School of Management and Peking University - Guanghua School of Management
Downloads 343 (121,705)
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Credit Supply, Credit Boom, Margin Lending, Stock Market, Anticipation

Effects of Credit Expansions on Stock Market Booms and Busts

NBER Working Paper No. w24586
Number of pages: 61 Posted: 14 May 2018 Last Revised: 19 Mar 2022
Imperial College Business School, Columbia University, Graduate School of Arts and Sciences, Department of Economics, CUHK Business School, The Chinese University of Hong Kong, Peking University - Guanghua School of Management and Peking University - Guanghua School of Management
Downloads 16 (751,359)
Citation 1

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52.

Firms as Buyers of Last Resort: Financing Constraints, Stock Returns and Liquidity

Number of pages: 44 Posted: 10 Oct 2005
Jiang Wang, Jialin Yu and Harrison G. Hong
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Hong Kong University of Science & Technology (HKUST) - Department of Finance and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 291 (145,685)
Citation 6

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financing constraint, payout, asset price, mean reversion, volatility, skewness, liquidity

The Only Game in Town: Stock-Price Consequences of Local Bias

Harvard Institute of Economic Research Discussion Paper No. 2077
Number of pages: 51 Posted: 19 Jul 2005
Jeffrey D. Kubik, Harrison G. Hong and Jeremy C. Stein
Syracuse University - Department of Economics, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 247 (171,092)

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The Only Game in Town: Stock-Price Consequences of Local Bias

NBER Working Paper No. w11488
Number of pages: 51 Posted: 23 Aug 2005 Last Revised: 23 May 2022
Jeffrey D. Kubik, Harrison G. Hong and Jeremy C. Stein
Syracuse University - Department of Economics, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 40 (579,499)
Citation 11

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54.

Do Hedge Funds Profit from Mutual-Fund Distress?

NBER Working Paper No. w13786
Number of pages: 49 Posted: 08 Feb 2008 Last Revised: 04 Mar 2022
University of California, Davis - Graduate School of Management, Harvard University - Business School (HBS), Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 228 (185,308)

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Implications of Stochastic Transmission Rates for Managing Pandemic Risks

Review of Financial Studies forthcoming
Number of pages: 52 Posted: 13 May 2020 Last Revised: 13 Oct 2020
Harrison G. Hong, Neng Wang and Jinqiang Yang
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Columbia University - Columbia Business School, Finance and Shanghai University of Finance and Economics
Downloads 203 (206,497)
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COVID-19, stochastic epidemic model, risk management, stock valuation

Implications of Stochastic Transmission Rates for Managing Pandemic Risks

NBER Working Paper No. w27218
Number of pages: 53 Posted: 26 May 2020 Last Revised: 19 Nov 2021
Harrison G. Hong, Neng Wang and Jinqiang Yang
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Columbia University - Columbia Business School, Finance and Columbia University
Downloads 23 (692,021)
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56.

Hedging and Pricing Rent Risk with Search Frictions

Number of pages: 44 Posted: 18 Jul 2017 Last Revised: 27 Jul 2017
University of Wisconsin - Madison - Department of Finance, Investment and Banking, KAIST College of Business, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Syracuse University - Department of Economics
Downloads 191 (218,208)
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Rent Risk, Hedging, House Prices, Search Frictions, Seasonality

57.

Ordering, Revenue and Anchoring in Art Auctions

Number of pages: 66 Posted: 25 Aug 2014
Columbia University, Graduate School of Arts and Sciences, Department of Economics, University of WarwickHebrew University of Jerusalem, Syracuse University - Department of Economics, Cheung Kong Graduate School of Business and ART MARKET CONSULTANCY
Downloads 188 (221,237)

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Auctions, Anchoring, Ordering, Revenues, Sequential

Welfare Implications of Electric-Bike Subsidies: Evidence from Sweden

Swedish House of Finance Research Paper No. 22-02
Number of pages: 34 Posted: 11 Mar 2022 Last Revised: 15 Mar 2022
Anders Anderson and Harrison G. Hong
Swedish House of Finance and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 173 (237,850)

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Electric bikes, subsidies, welfare analysis

Welfare Implications of Electric-Bike Subsidies: Evidence from Sweden

NBER Working Paper No. w29913
Number of pages: 35 Posted: 04 Apr 2022 Last Revised: 09 Apr 2022
Anders Anderson and Harrison G. Hong
Swedish House of Finance and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 3 (884,707)
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59.

Advisors and Asset Prices: A Model of the Origins of Bubbles

NBER Working Paper No. w13504
Number of pages: 48 Posted: 16 Oct 2007 Last Revised: 27 May 2022
José Scheinkman, Wei Xiong and Harrison G. Hong
Columbia University, Princeton University - Department of Economics and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 90 (383,557)
Citation 5

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60.

The Neighbor's Portfolio: Word-of-Mouth Effects in the Holdings and Trade of Money Managers

NBER Working Paper No. w9711
Number of pages: 47 Posted: 01 Jun 2003 Last Revised: 06 Apr 2022
Jeffrey D. Kubik, Harrison G. Hong and Jeremy C. Stein
Syracuse University - Department of Economics, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Harvard University - Department of Economics
Downloads 75 (426,809)

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61.

Do Managers Do Good with Other People's Money?

NBER Working Paper No. w19432
Number of pages: 42 Posted: 14 Sep 2013 Last Revised: 05 Feb 2022
Ing-Haw Cheng, Harrison G. Hong and Kelly Shue
University of Toronto - Rotman School of Management, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Yale School of Management
Downloads 56 (498,447)
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62.

Hoard Behavior and Commodity Bubbles

NBER Working Paper No. w20974
Number of pages: 52 Posted: 02 Mar 2015 Last Revised: 24 Apr 2022
Harrison G. Hong, Aureo de Paula and Vishal Singh
Columbia University, Graduate School of Arts and Sciences, Department of Economics, University College London - Department of Economics and New York University (NYU) - Department of Marketing
Downloads 22 (679,035)

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63.

Assignment of Stock Market Coverage

NBER Working Paper No. w23115
Number of pages: 50 Posted: 30 Jan 2017 Last Revised: 28 Feb 2021
Briana Chang and Harrison G. Hong
University of Wisconsin - Madison - Department of Finance, Investment and Banking and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 15 (734,439)
Citation 12

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64.

Analyzing the Analysts: Career Concerns and Biased Earnings Forecasts

The Journal of Finance, Vol. 58, No. 1, pp. 313-351, 2003
Posted: 17 Oct 2003
Jeffrey D. Kubik and Harrison G. Hong
Syracuse University - Department of Economics and Columbia University, Graduate School of Arts and Sciences, Department of Economics

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