Working Paper

03 August 2017

Market Soundings: The Interaction between Securities Regulation and Company Law in the United Kingdom and Italy

Before deciding on operations involving share issuance or sale, companies or shareholders may seek to disclose information to selected investors, in order to gauge their opinion on the envisaged market operation. Such ‘market...

Stefano Lombardo | Federico Mucciarelli
02 September 2019

Value of Politically Connected Independent Directors: Evidence from the Anti-Corruption Campaign in China

A new regulation issued in the end of 2013 as part of the anti-corruption campaign in China leads to a wave of resignation of politically connected independent directors (PCID). I find while firms with PCIDs have...Read more

Chang Zhang
10 September 2021

Banks' Lobbying Determinants: Insights from the GFC and the Trump Presidency

This study examines the relationship between banks' main financial and business characteristics and their lobbying intensity during the last two decades. A novel feature of our analysis is that we adopt a network perspective to...

Rajna Gibson Brandon | Alper Odabasioglu
01 February 2014

Getting Incentives Right: Is Deferred Bank Executive Compensation Sufficient?

In the wake of the global financial crisis, attention has often focused on whether incentives generated by bank executives? compensation programs led to excessive risk-taking. Post-crisis, compensation reform proposals have taken...

Sanjai Bhagat | Brian Bolton | Roberta Romano