Category Archives: Uncategorized

Toxic Emissions and Corporate Green Innovation 

By | November 29, 2022

One negative consequences of industrialization has been the generation and release of toxic chemicals, which have detrimental effects on the environment, climate, and public health. As the world grapples with environmental and climate change challenges, these byproducts are becoming an important issue drawing the attention of investors, scholars, and governments. For instance, toxic emissions are… Read More »

BIG CRYPTO’S BOGUS DEMANDS FOR “REGULATORY CLARITY”

By | November 28, 2022

“Regulatory clarity––yeah––that’s the ticket.” From the moment the FTX bankruptcy debacle began, the Big Crypto cartel has predictably pivoted to their flawed and anemic go-to talking points when any investor suffers crypto-related losses: The SEC is to blame for all crypto-problems, because the SEC has failed to provide the crypto ecosystem with “regulatory clarity.” The SEC consistently violates the due process rights… Read More »

Reasons and Consequences of Cross-Border Mergers and Acquisitions

By | November 24, 2022

One of the most consequential events in any firm’s lifetime is a major acquisition. Because of their importance, mergers and acquisitions (M&A) have been researched extensively. The vast majority of research and survey papers have focused on domestic deals. However, cross-border M&A constitutes about 30% of the total number and 37% of the total volume… Read More »

The Value of Privacy and the Choice of Limited Partners by Venture Capitalists

By | November 23, 2022

Venture capital (VC) firms are notoriously secretive. In a recent paper, we examined the causes and consequences of that preference for secrecy using late-2002 court rulings that forced some of the largest public limited partners (LPs) who invest in VC funds to disclose formerly confidential return information. We show that in response to these rulings,… Read More »

When Do Firms Deliver on the Jobs They Promise in Return for State Aid? 

By | November 17, 2022

US state governments frequently provide firms with targeted subsidies to retain or create jobs within state borders. These subsidies take the form of either direct cash grants or, more commonly, firm-specific tax abatements or tax credits. In our recent study, we examine three questions related to these subsidies: (i) whether firm recipients of state economic… Read More »

Trust in Fintech and trust in Insurtech are influenced by Artificial Intelligence 

By | November 11, 2022

New Fintech and Insurtech services are popular with consumers as they offer convenience, new capabilities and in some cases lower prices. Consumers like these technologies but do they trust them? The role of consumer trust in the adoption of these new technologies is not entirely understood. From the consumer’s perspective, there are some concerns due… Read More »

Establishing Effective Legal and Regulatory Frameworks: One Way to Assist Developing Host States in Negotiating Investment Contracts

By | November 10, 2022

Large-scale investment contracts, especially in extractive industries, infrastructure, and agriculture, often involve foreign direct investment (“FDI”). Due to their scale, complexity, and typical long-term horizons, these contracts can have a substantial and far-reaching impact on host States. They can affect host States’ public revenue, natural resources, economic growth, and environmental and social development for multiple… Read More »

The Credit Channel of Fiscal Policy Transmission

By | November 9, 2022

A large literature in macroeconomics argues that general equilibrium effects matter for the transmission of fiscal policy shocks.  For example, government spending or taxation changes (fiscal policy) have been shown to spill over through channels such as production factor (labor, capital, etc.) reallocation, output and input price changes, household consumption and saving responses, and monetary… Read More »

Disciplining Central Banks: Addressing the Privacy Concerns of CBDCs and Central Bank Independence

By | November 8, 2022

The past few years have witnessed the rise of the central bank digital currency (or CBDC), with many countries exploring and testing the viability of issuing a CBDC and dissecting their political and economic implications. The current literature surrounding CBDCs focuses mainly on technical design, institutional architecture, financial inclusion benefits, macroeconomic implications, and financial stability… Read More »

The Information Content of Mandatory Human Capital Disclosures—Initial Evidence

By | November 7, 2022

Do the recently mandated human capital disclosures (HCDs) have value implications for asset prices, and if so, do they affect shareholders and debtholders in the same way?   Our recent study examines the information content of newly mandated HCDs for shareholders and debtholders. Importantly, we show that firms’ HCDs are not purely boilerplate and convey information… Read More »