We show that firms with chief executive officers (CEOs) who gain general managerial skills over their lifetime work experience produce more patents. We...
Financial market efficiency relies on timely and accurate information regarding firms’ risk exposures. An increasingly important and pertinent...Read more
Shocks that hit part of the financial system, such as the subprime mortgage market in 2007, can propagate and amplify through the complex network...Read more
Financial institutions increasingly rely on third parties to provide their core business processes and information technology. With the rapid...Read more
In our paper ‘It’s Not So Bad: Director Bankruptcy Experience and Corporate Risk Taking,” we evaluate the extent to which a director’s corporate...Read more
This recent paper by Rui Albuquerque (Boston College), Luis Cabral (NYU) and Jose Correa Guedes (Catholic University of Portugal) shows that in...Read more
Manager-shareholder agency conflicts of interest manifest themselves in several forms. They include manager shirking and the consumption of...Read more
The compensation of employees in asset management is typically much higher than that of non-finance employees with similar education, and tends to...Read more
Firms hold cash for several reasons, e.g., to seize strategic opportunities as they arise or as abuffer against unexpected shocks. While research...Read more