NBER Working Paper No. 17653
---- Acknowledgements -----
I thank Miguel Ferreira, Terrence Hendershott, David Hirshleifer, Charles Jones, Ron Kaniel, Ian Martin, Konstantin Milbradt, Laura Starks, Dimitry Vayanos, an anonymous referee, and seminar participants at the University of Amsterdam, University of Arizona, University of British Columbia, Columbia University, Federal Reserve Bank of New York, University of Maastricht, Princeton, Rice, Stanford, the American Finance Association Meetings, the NBER Summer Institute, and the Gutmann Center Symposium at WU Vienna for useful comments. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.