Cluster | Size | Silhouette | Top Terms by LLR (P = 0.0001) |
#0 | 25 | 0.94 | (55.43) firm value; (46.44) international study; (44.04) sovereign wealth fund investment |
#1 | 25 | 0.949 | (67.06) information quality; (59.73) long-run risk; (30.19) subjective expectation |
#2 | 24 | 0.982 | (53.85) momentum; (44.49) idiosyncratic risk; (41.83) return |
#3 | 23 | 0.966 | (69.7) executive compensation; (68.4) long-term perspective; (68.4) new view |
#4 | 22 | 0.991 | (105.04) cash holding; (71.58) financial constraint; (49.81) real effect |
#5 | 21 | 0.945 | (59.17) diversification discount; (28.62) property-liability insurer; (28.62) portfolio risk |
#6 | 21 | 0.963 | (59.07) short seller; (30.04) short selling; (27.91) costly arbitrage |
#7 | 20 | 0.988 | (54.39) investor protection; (43.55) corporate ownership; (39.75) political right |
#8 | 19 | 0.986 | (41.33) moderate-income neighborhood; (41.33) bank branch presence; (39.74) lending relationship |
#9 | 18 | 0.951 | (52.56) stock return; (43.28) cross-section; (29.65) performance |
#10 | 18 | 0.925 | (118.2) IPO; (46.32) town; (43.35) new game |
#11 | 18 | 0.911 | (93.55) credit spread; (56.56) capital structure; (45.59) permanent shock |
#12 | 18 | 0.933 | (37.97) capital structure; (28.2) debt structure; (26.42) capital structure adjustment speed |
#13 | 17 | 0.906 | (36.11) envious CEO; (36.11) merger wave; (25.69) market discount |
#14 | 17 | 0.909 | (26.38) stock market efficiency; (26.38) dealer market; (26.38) trading volume |
#15 | 17 | 0.946 | (52.37) liquidity; (22.15) bank; (21.94) probability |
#16 | 16 | 0.969 | (26.88) antitakeover provision; (26.12) auction; (26.12) threat |
#17 | 16 | 0.97 | (65.1) growth; (43.22) rent; (41.02) out-of-sample equity premium prediction |
#18 | 15 | 0.946 | (65.55) option price; (45.99) levy jump diffusion process; (45.99) detecting jump |
#19 | 14 | 0.957 | (127.32) mutual fund; (112.41) hedge fund; (73.88) performance |
#20 | 14 | 0.937 | (73.4) investor behavior; (61.64) individual investor; (43.97) nature |