I didn't read the whole study and this is a pre-proof but I'm not very optimistic about claims like this. There are often many data biases that are hard to root

I didn't read the whole study and this is a pre-proof but I'm not very optimistic about claims like this. There are often many data biases that are hard to root out. https://sci-hubtw.hkvisa.net/10.1016/j.jfineco.2021.06.002 https://sci-hubtw.hkvisa.net/10.1016/j.jfineco.2021.06.002