Trading

Working Paper

Resiliency of Environmental and Social Stocks: An Analysis of the Exogenous COVID-19 Market Crash

The COVID-19 pandemic and the subsequent lockdown brought about a massive slowdown of the economy and an unparalleled stock market crash. Using U.S. data, this paper explores how firms with high Environmental and Social (ES) ratings fare during...Read more

Rui Albuquerque
Shuai Yang
23 April 2020

Smart Buyers

We study transactions in which sellers fears being underpaid because their outside option is better known to the buyer. We rationalize various observed contracts as solutions to such smart buyer problems. Key to these solutions is granting the...Read more

Mike Burkart
Samuel Lee
01 January 2012

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