We study a model in which firms compete preemptively for trading opportunities and risk management introduces latency in trading. As the time pressure...
The proposition that a prudent investor should be diversified is widely accepted if not incontrovertible for ordinary investors – investors who have...
We consider a model in which the threat of bank liquidations by creditors as well as equity-based compensation incentives both discipline bankers, but...
This paper presents an industry equilibrium model where firms have a choice to engage in corporate social responsibility (CSR) activities. We model CSR...
The growth of the asset management industry has made it commonplace for firms to have multiple institutional blockholders. In such firms, the strength...