Baolian Wang, Bank of America Associate Professor of Finance, is the second prize recipient of the Roger F. Murray prize. Every year, the Institute for Quantitative Research in Finance, or Q Group, awards three prizes to individuals who present outstanding
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ChatGPT is better at predicting how stocks will react to news headlines than traditional models, new study shows
ChatGPT can’t see the future, but it already has value for investors looking to predict future moves in the stock market. That’s according to a new research paper published in the Social Science Research Network by Assistant Professor Alejandro Lopez-Lira and Emerson-Merrill Lynch Associate
IT Buyers Face Tougher Spending Decisions as More Tech Vendors Stay Private
Dearth of IPOs and increase in go-private deals limit information on potential suppliers’ financial health. ‘All else being equal, we will favor a public vendor,’ says one CIO. Cordell Eminent Scholar Jay Ritter shares his insights in this story from
ChatGPT may be able to predict stock movements, finance professors show
In a new working paper, Assistant Professor Alejandro Lopez-Lira and Emerson-Merrill Lynch Associate Professor Yuehua Tang find that large language models may be useful when forecasting stock prices. They used ChatGPT to parse news headlines for whether they’re good or
Unicorn companies with IPO dreams might be in trouble
Since 2019, the number of billion-dollar, venture-backed companies in the world has grown from 223 to 704 with a combined value of $2.3 trillion. Becoming a unicorn has been the ideal for many tech startups: it feeds the ego, leads to
Stock Sales Suffer Worst First Quarter Since 2009 on Rates, SVB
US equity capital markets are having the slowest start to a year since 2009, and dealmakers fear a rebound is nowhere near. Initial public offerings and secondary stock offerings bore the brunt of first-quarter recession concerns stemming from the Federal
Win the Race for Higher Risk-adjusted Stock Returns
A new paper co-authored by Assistant Professor Alejandro Lopez-Lira and Wharton’s Nikolai Roussanov uses machine learning to construct investment portfolios that ensure predictability of returns in a world of changing risks. Read more in this story from Knowledge at Wharton.
First Republic Bank Stabilizes, But More Problems Are Lurking Around the Corner
In a bid to instill confidence in First Republic and the broader sector, a coalition of major financial institutions—including J.P. Morgan, Bank of America and Citigroup—made $30 billion worth of deposits earlier this month. Cordell Eminent Scholar Jay Ritter said
The market has changed, but super-voting shares are here to stay, says Mr. IPO
TechCrunch spoke with Cordell Eminent Scholar Jay Ritter about why stakeholders aren’t likely to push too hard against super-voting shares, despite that now would seem the time to do it. TechCrunch: So the bottom line, in your view, is that
Silicon Valley Bank Sold to First Citizens in Government-Backed Deal
Banking regulators, which announced the deal late Sunday, had been looking for a buyer since seizing control of the failed bank. The deal for the bank, renamed Silicon Valley Bridge Bank after the F.D.I.C. seized it, included the purchase of
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