Risk Management in European and American Corporate Law
In recent years, the emphasis in corporate governance has shifted from board composition, independent directors, separating the position of...
Read moreIn recent years, the emphasis in corporate governance has shifted from board composition, independent directors, separating the position of...
Read moreThis paper examines how governance and risk management affect risk-taking in banks. It distinguishes between good risks, which are risks that have an ex...
Read moreWe establish that the labor market helps discipline asset managers via the impact of fund liquidations on their careers. Using hand-collected data on...
Read moreWe show that engagement on environmental, social, and governance issues can benefit shareholders by reducing firms’ downside risks. We find that the...
Read moreFinancial supervisors as well as financial intermediaries increasingly rely on AI. However, little remains known about the scope and...
Read moreWe show that, in the presence of correlated investment opportunities across firms, risk sharing between firm shareholders and firm managers leads to...
Read moreWe show that firms take more (but not necessarily excessive) risks when one of their directors experiences a corporate bankruptcy at another firm where...
Read moreWe show that risk-mitigating incentives dominate risk-shifting incentives in fragile banks. We study security trading by banks, as banks can easily...
Read moreWe hypothesize that labor participation in governance helps improve risk sharing between employees and employers. It provides an ex-post mechanism to...
Read moreUsing the Sarbanes-Oxley Act of 2002 as a quasi-natural experiment to identify the impact of corporate governance reform on foreign exchange risk...
Read moreMitigating the worst consequences of climate change by transitioning to a net zero economy requires investment on a large scale. Directly pricing...
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