Working Paper

13 September 2021

As California goes, so goes the nation? Board gender quotas and shareholders’ distaste of government interventions

In 2018, California became the first U.S. state to introduce a mandatory board gender quota for all firms headquartered in the state. Even though the constitutionality of the law is still debated, we document large negative...

Felix von Meyerinck | Alexandra Niessen-Ruenzi | Markus Schmid | Steven Davidoff Solomon
01 February 2014

Market Efficiency after the Financial Crisis: It?s Still a Matter of Information Costs

Compared to the worldwide financial carnage that followed the Subprime Crisis of 2007-2008, it may seem of small consequence that it is also said to have demonstrated the bankruptcy of an academic financial institution: the Efficient...

Ronald Gilson | Reinier Kraakman