We examine how financial analysts respond to public information about corporate social irresponsibility (CSI) conduct. Exploiting a novel dataset on environmental, social, and governance reputational risk rating based on media coverage and analyzing a sample of 667 public corporations over an 11-year period, we find that analysts' optimistic bias tends to grow in proportion to media coverage of CSI conduct. To deal with the endogeneity issue, we propose as instrumental variable, namely, the Euclidean distance from the Canadian border. The results are robust to the use of different measures of the independent and dependent variables as well as an alternative instrumental variable approach. We also show that over-optimistic bias is larger when information asymmetries are stronger. Our findings are in line with the rational overoptimistic behavior hypothesis and have important implications for market efficiency.

ObjectivesGastorenteropancreatic neuroendocrine (GEP-NET) tumors are the second most common tumors of the gastrointestinal tract. We aimed to investigate the clinicopathological features and factors affecting the prognosis of patients with GEP-NET.MethodsClinicopathological features of 158 patients were evaluated, including tumor location, TNM stage and grade, pathological features, presence of lymph nodes and distant metastases at the time of diagnosis, maximum tumor diameter and treatment details. Also, follow-up information was analyzed to discover possible prognostic factors.ResultsThe most common primary site is pancreas (45.6%, n = 72). Most of the GEP-NETs were nonfunctional (93.6%, n = 148). Of the 158 patients, 94 (59.5%) were grade 1, 46 (29.1%) grade 2, and 18 (11.4%) grade 3. The 1-year, 3-year, and 5-year survival rates were 82.3% (130/158), 61.4% (70/114), and 47.2% (35/74), respectively. In multivariate analysis, histological grade (P = 0.04) and TNM stage (P < 0.001) were independent prognostic factors for survival in patients with GEP-NET.ConclusionsThey are increasing in frequency and are the most common tumors in the pancreas. Nonfunctional tumors made up the majority of cases. The main treatment was surgical resection. Histological grade and TNM stage are independent prognostic factors.

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We investigate the relationship between eudaimonic wellbeing (sense of life) and subjective survival probability (SSP), a proxy for self-assessed life expectancy. Our econometric analysis uses 220,601 observations of SHARE panel data from 2006 to 2015. We find evidence of a robust and strong positive relationship between eudaimonic wellbeing and subjective survival probability after controlling for selfassessed health, coupled with a negative effect of sense of life on mortality. The magnitude of the first effect is relevant, since the minimum difference (adjusted for fixed effects) between individuals declaring the highest versus the lowest sense of life is a 7-point higher self-assessed probability of being alive at the target age. Together, our two main findings imply that when respondents declare a high sense of life, they self-report a lower mortality risk and their predictions are correct. | INTRODUCTIONWe live an era of dramatic progress in medical treatments that are not uniformly spread across individuals due to their uneven access to health services. This process inevitably leads to increased heterogeneity in life expectancy. 1 The economic literature has shown that life expectancy is a crucial driver of economic choices with strong and significant effects on health and retirement expenditures, and timing of retirement and savings decisions through life-cycle effects (