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

63

DOWNLOADS
Rank 291

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Top 291

in Total Papers Downloads

61,783

SSRN CITATIONS
Rank 148

SSRN RANKINGS

Top 148

in Total Papers Citations

2,013

CROSSREF CITATIONS

2,208

Scholarly Papers (63)

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 3,960 (2,887)
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: 01 Mar 2021
Harrison G. Hong and Motohiro Yogo
Columbia University, Graduate School of Arts and Sciences, Department of Economics and Princeton University - Department of Economics
Downloads 90 (340,106)
Citation 29

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2.
Downloads 3,433 ( 3,725)
Citation 35

Speculative Betas

Journal of Finance, Forthcoming
Number of pages: 84 Posted: 03 Dec 2011 Last Revised: 21 Nov 2015
Harrison G. Hong and David Alexandre Sraer
Columbia University, Graduate School of Arts and Sciences, Department of Economics and University of California, Berkeley
Downloads 3,386 (3,737)
Citation 5

Abstract:

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Speculative Betas

NBER Working Paper No. w18548
Number of pages: 51 Posted: 20 Nov 2012
Harrison G. Hong and David Alexandre Sraer
Columbia University, Graduate School of Arts and Sciences, Department of Economics and University of California, Berkeley
Downloads 47 (480,130)
Citation 14

Abstract:

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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 - Department of Finance, Columbia University, Graduate School of Arts and Sciences, Department of Economics and University of Texas at Austin - Department of Finance
Downloads 2,425 (6,618)
Citation 10

Abstract:

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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 - Department of Finance and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 688 (44,590)
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 2021
Yen-Cheng Chang, Harrison G. Hong and Inessa Liskovich
National Taiwan University - Department of Finance, Columbia University, Graduate School of Arts and Sciences, Department of Economics and University of Texas at Austin - Department of Finance
Downloads 24 (606,567)
Citation 48

Abstract:

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4.

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
Dartmouth College - Tuck School of Business, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Yale School of Management
Downloads 3,040 (4,642)
Citation 19

Abstract:

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ESG, CSR, agency costs

5.

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 2,911 (4,985)
Citation 162

Abstract:

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social norms, financial markets, sin stocks

6.
Downloads 2,694 ( 5,688)
Citation 4

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 2,646 (5,726)
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
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 48 (475,766)
Citation 2

Abstract:

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7.
Downloads 2,537 ( 6,266)
Citation 18

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 2,172 (7,934)
Citation 13

Abstract:

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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 302 (120,669)
Citation 4

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: 25 Oct 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 63 (418,130)
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
Dartmouth College - Tuck School of Business, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Columbia University
Downloads 2,290 (7,300)
Citation 15

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: 09 Nov 2013
Ing-Haw Cheng, Harrison G. Hong and José Scheinkman
Dartmouth College - Tuck School of Business, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Columbia University
Downloads 116 (286,165)
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 1,866 (10,146)
Citation 22

Abstract:

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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: 17 Oct 2010
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 215 (170,104)
Citation 57

Abstract:

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10.

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 1,756 (11,422)
Citation 163

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 1,680 (12,017)
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
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 70 (395,046)
Citation 5

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Downloads 1,721 ( 11,785)
Citation 60

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 1,682 (11,997)
Citation 2

Abstract:

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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 39 (517,472)
Citation 54

Abstract:

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13.

Do Security Analysts Discipline Credit Rating Agencies?

AFA 2013 San Diego Meetings Paper
Number of pages: 53 Posted: 12 Dec 2011 Last Revised: 20 Aug 2014
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 1,655 (12,535)
Citation 23

Abstract:

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credit rating agencies, rating bias, competition

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 1,585 (13,405)
Citation 3

Abstract:

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

15.
Downloads 1,383 ( 16,628)
Citation 19

Quiet Bubbles

Number of pages: 44 Posted: 22 Feb 2011 Last Revised: 21 Nov 2011
Harrison G. Hong and David Alexandre Sraer
Columbia University, Graduate School of Arts and Sciences, Department of Economics and University of California, Berkeley
Downloads 1,354 (16,824)
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
Harrison G. Hong and David Alexandre Sraer
Columbia University, Graduate School of Arts and Sciences, Department of Economics and University of California, Berkeley
Downloads 29 (572,787)
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 1,325 (17,743)
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 1,237 (19,317)
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 1,146 ( 22,096)
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 988 (26,986)
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 158 (225,609)
Citation 1

Abstract:

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19.
Downloads 1,108 ( 23,183)
Citation 67

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 741 (40,279)
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 367 (97,165)
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 1,053 (24,997)
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 1,032 (25,742)
Citation 32

Abstract:

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22.
Downloads 992 ( 27,242)
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 645 (48,584)
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 347 (103,507)

Abstract:

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Social Networks, Poisson Regressions, Investor Behavior

23.

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 970 (28,110)
Citation 31

Abstract:

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24.

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 964 (28,349)
Citation 12

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25.

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 908 (30,951)
Citation 85

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

26.

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 - Department of Finance, 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 848 (34,054)
Citation 15

Abstract:

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27.

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 - Samuel Curtis Johnson Graduate School of Management and Columbia University
Downloads 800 (36,785)
Citation 13

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

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 800 (36,858)
Citation 12

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

29.
Downloads 779 ( 38,175)
Citation 49

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 693 (44,144)
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

Number of pages: 48 Posted: 28 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 86 (349,958)
Citation 1

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30.

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 713 (43,053)
Citation 5

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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 628 (50,302)
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 2021
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 78 (371,314)
Citation 1

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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 659 (47,916)
Citation 15

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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 656 (48,189)
Citation 7

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Speculation, Home Improvements, Real Estate, Remodeling

34.
Downloads 655 ( 48,189)
Citation 159

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 593 (54,283)
Citation 5

Abstract:

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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: 25 Jul 2010
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 62 (421,585)
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.
Downloads 547 ( 60,806)

A Sticky-Price View of Hoarding

Kilts Center for Marketing at Chicago Booth – Nielsen Dataset Paper Series 1-050
Number of pages: 47 Posted: 21 Nov 2014 Last Revised: 20 Apr 2020
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 544 (60,571)

Abstract:

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Hoarding, Commodity Bubbles, Rice, Commodity Pricing

A Sticky-Price View of Hoarding

NBER Working Paper No. w27051
Number of pages: 48 Posted: 28 Apr 2020
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 3 (773,960)
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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: 50 Posted: 08 May 2020
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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36.
Downloads 539 ( 61,915)
Citation 38

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 509 (65,695)

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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 2021
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 30 (566,610)
Citation 10

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37.

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 537 (62,190)
Citation 134

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38.

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
Harrison G. Hong, David Alexandre Sraer and Jialin Yu
Columbia University, Graduate School of Arts and Sciences, Department of Economics, University of California, Berkeley and Hong Kong University of Science & Technology (HKUST) - Department of Finance
Downloads 514 (65,594)
Citation 3

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

39.
Downloads 508 ( 66,572)
Citation 4

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 482 (70,352)
Citation 3

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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
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 26 (592,555)
Citation 1

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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 378 (93,924)
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 125 (270,782)
Citation 1

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41.

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 467 (74,094)
Citation 2

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42.

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 460 (75,263)
Citation 2

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43.

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 2021
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 458 (75,658)
Citation 12

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44.
Downloads 409 ( 86,447)
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 397 (88,629)
Citation 1

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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
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 12 (698,190)
Citation 1

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45.
Downloads 383 ( 93,235)
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 Institute, Federal Reserve Bank of Boston
Downloads 366 (97,502)

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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 2021
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 Institute, Federal Reserve Bank of Boston
Downloads 17 (658,410)

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46.

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: 10 Apr 2008
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 327 (111,813)
Citation 54

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47.
Downloads 290 (126,644)
Citation 3

Pandemics, Vaccines and an Earnings Damage Function

Number of pages: 45 Posted: 12 Sep 2020 Last Revised: 22 Feb 2021
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Syracuse University - Department of Economics, Columbia Business School - Finance and Economics, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Shanghai University of Finance and Economics
Downloads 232 (158,097)
Citation 4

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

Pandemics, Vaccines and an Earnings Damage Function

NBER Working Paper No. w27829
Number of pages: 46 Posted: 21 Sep 2020 Last Revised: 27 Feb 2021
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 Business School - Finance and Economics, Columbia University and Columbia University
Downloads 58 (436,006)

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48.

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 285 (129,009)
Citation 6

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

49.
Downloads 281 (131,389)
Citation 1

Anticipating the Direct Effects of Credit Supply

Number of pages: 57 Posted: 15 May 2018 Last Revised: 24 Feb 2021
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 273 (134,775)
Citation 1

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Credit Supply, Credit Boom, Margin Lending, Stock Market, Anticipation

Anticipating the Direct Effects of Credit Supply

NBER Working Paper No. w24586
Number of pages: 58 Posted: 14 May 2018 Last Revised: 07 Mar 2021
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 8 (730,809)

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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 243 (151,113)

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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 Jul 2009
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 38 (522,444)
Citation 13

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51.

Sorting Out the Real Effects of Credit Supply

Number of pages: 48 Posted: 09 Apr 2020 Last Revised: 11 May 2021
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 243 (152,249)

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Credit supply, Financial Crises, Matching Model, Credit Risk

52.
Downloads 215 (170,419)
Citation 4

Mitigating Disaster Risks in the Age of Climate Change

Number of pages: 54 Posted: 13 May 2020 Last Revised: 30 Nov 2020
Harrison G. Hong, Neng Wang and Jinqiang Yang
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Columbia Business School - Finance and Economics and Shanghai University of Finance and Economics
Downloads 212 (172,385)
Citation 2

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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: 55 Posted: 28 Apr 2020 Last Revised: 05 Dec 2020
Harrison G. Hong, Neng Wang and Jinqiang Yang
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Columbia Business School - Finance and Economics and Columbia University
Downloads 3 (773,960)
Citation 2
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53.

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 2021
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 196 (185,754)

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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 Business School - Finance and Economics and Shanghai University of Finance and Economics
Downloads 155 (228,002)
Citation 1

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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
Harrison G. Hong, Neng Wang and Jinqiang Yang
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Columbia Business School - Finance and Economics and Columbia University
Downloads 21 (628,322)
Citation 3

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55.

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 Warwick, Syracuse University - Department of Economics, New York University (NYU) - Department of Finance and ART MARKET CONSULTANCY
Downloads 172 (208,389)

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Auctions, Anchoring, Ordering, Revenues, Sequential

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 161 (220,397)
Citation 1

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Rent Risk, Hedging, House Prices, Search Frictions, Seasonality

Welfare Consequences of Sustainable Finance

Number of pages: 46 Posted: 17 Mar 2021 Last Revised: 14 Apr 2021
Harrison G. Hong, Neng Wang and Jinqiang Yang
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Columbia Business School - Finance and Economics and Columbia University
Downloads 115 (287,950)

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Sustainable Investing, ESG, Welfare, Externalities, Mitigation, Climate Change, Risk Premia, Interest Rates, Cost of Capital, Capital Accumulation, Disasters

Welfare Consequences of Sustainable Finance

NBER Working Paper No. w28595
Number of pages: 46 Posted: 05 Apr 2021 Last Revised: 10 Apr 2021
Harrison G. Hong, Neng Wang and Jinqiang Yang
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Columbia Business School - Finance and Economics and Columbia University
Downloads 1 (799,391)
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58.

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: 18 Oct 2007
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 83 (354,308)
Citation 5

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59.

The Neighbor&Apos;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: 02 Nov 2010
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 71 (387,396)

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60.

Do Managers Do Good with Other People&Apos;S Money?

NBER Working Paper No. w19432
Number of pages: 42 Posted: 14 Sep 2013 Last Revised: 05 Feb 2021
Ing-Haw Cheng, Harrison G. Hong and Kelly Shue
Dartmouth College - Tuck School of Business, Columbia University, Graduate School of Arts and Sciences, Department of Economics and Yale School of Management
Downloads 38 (511,120)
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61.

Hoard Behavior and Commodity Bubbles

NBER Working Paper No. w20974
Number of pages: 52 Posted: 02 Mar 2015 Last Revised: 24 Apr 2021
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 20 (615,072)

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62.

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 13 (664,638)
Citation 12

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63.

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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