Study conducted by Sebastien Betermier (McGill University), Laurent Calvet (EDHEC Business School), Jens Kvaerner (Tilburg University)

Briefing Paper realised by Mary Pieterse-Bloem (Erasmus University, Rotterdam) and Boyd Buis (VU University, Amsterdam)

Study realised by Jean-Noel Barrot (MIT Sloan), Ron Kaniel (Simon School of Business at University of Rochester and CEPR), David Sraer (Princeton University and NBER)