Political Economy

Working Paper

The Incredible Shrinking Stock Market: On the Political Economy Consequences of Excessive Delistings

Over the past two decades, the U.S. stock market has halved in size as the "public firm model" has begun to fall out of favor. We develop a political economy model of delistings from the stock market to study the wider economic consequences of...Read more

Alexander Ljungqvist
01 January 2016

The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research

This paper discusses the empirical literature on the economic consequences of disclosure and financial reporting regulation, drawing on U.S. and international evidence. Given the policy relevance of research on regulation, we highlight the...Read more

Christian Leuz
01 December 2015

Cross-Border Venture Capital Investments: What Is the Role of Public Policy?

Cross-border venture capital (VC) investments play an important role in the scaling up of high-growth companies. However, policymakers worry that foreign VC investments transfer the majority of economic activity to the investor country. On the...Read more

Wendy A. Bradley
Gilles Duruflé
Thomas Hellmann
Karen E. Wilson
28 January 2019

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