Browsing Faculty of Arts and Sciences by Keyword "Economics, Finance"
Now showing items 1-20 of 41
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A Sociocultural Paradigm for Pricing: How Status, Cognitive Authority, and Professional Culture Qualify Market Values
(2017-04-18)Two economic paradigms—neoclassical orthodoxy and behavioral heterodoxy—dominate modern price theory. Especially in actual practice, economics monopolizes discussions around pricing with most market actors paying little ... -
Asset Managers and Financial Instability: Evidence of Run Behavior and Run Incentives in Corporate Bond Funds
(2015-06-26)Asset managers may be a source of systemic risk due to their risk-taking strategies and vulnerability to dramatic outflows. Investor withdrawals trigger asset sales and redemption costs that only impact remaining investors ... -
Beyond FICO: Default Prediction and Optimal Lending Strategies in Online P2P Investing
(2016-06-22)The rise of online P2P lending has led to a large community of investors with an enormous discrepancy among best practices to maximize returns. Despite this, a cohesive system for analyzing the merits of various lending ... -
Danger Ahead: The Reach-for-Yield Behavioral Transmission Mechanism Across Risky Assets
(2016-07-06)This paper argues for the existence of a reach-for-yield behavioral transmission mechanism which, during low-interest rate periods, drives a higher willingness to pay for dividend yield in various yield assets like high-yield ... -
The Destabilizing Effects of ETFs and Options on Underlying Stock Returns
(2015-06-26)This paper explores the role that ETFs and options have on the underlying stock return. Using a dataset of 400 stocks over a five year period, I examine the effect that ETF rebalancing and option hedging have on stock ... -
Empirical Essays on Secrecy and Security in the United States
(2016-09-16)This dissertation analyzes longstanding issues in U.S. foreign policy and political economy with novel data and research methods. Chapter 1 asks: to what extent do “surprise” shifts in the international security environment ... -
Essays in Asset Pricing and Macroeconomics
(2017-05-13)This dissertation presents three essays. The first essay finds that investment strategies which generate “alphas” become endogenously risky by acquiring “betas” with respect to shocks that institutional arbitrageurs are ... -
Essays in Consumer and Corporate Finance
(2015-05-14)The tension between creditors and debtors is an integral component in finance. My dissertation focuses on two important cases where this tension has important economic implications. In my first two chapters, I focus on ... -
Essays in Corporate Finance
(2016-05-18)This dissertation contains three chapters. In the first chapter, which is joint work with Paul Gompers and Steven Kaplan, we survey 79 private equity (PE) investors with combined assets under management of more than $750 ... -
Essays in Corporate Finance
(2016-05-13)Macroeconomic and institutional shocks are important drivers of firms' activities. In chapter one, I examine the role of patent litigation in affecting companies’ innovation. Studying a landmark Supreme Court decision, I ... -
Essays in Energy Economics and Entrepreneurial Finance
(2015-05-11)When does government intervention successfully correct perceived market failures? What effects do such interventions have on firm decisions? These questions are especially vital to the energy sector, which features large ... -
Essays in Finance and Econometrics
(2018-01-18)This thesis presents two essays studying the role of banks in financial markets and one which studies statistical inference in matching markets. The first chapter presents a new theory of the role of banks, providing an ... -
Essays in Financial and Political Economics
(2018-05-15)In chapter 1, I show that investors' tendency to extrapolate from past return data is in part driven by the salience of past returns. I exploit the Wall Street Journal's historical practice of reporting the 52-week return ... -
Essays in Financial Economics
(2016-04-25)The chapters in this dissertation study the incidence of risk, risk taking, and the role of markets used to trade risk, with a focus on interest-rate risk. In Chapter 1, I ask why bank-dependent firms bear interest-rate ... -
Essays in Financial Economics
(2016-08-25)This dissertation consists of three essays: Chapters 1 and 2 focus on the impact of cognitive and institutional constraints on stock market efficiency while Chapter 3 examines whether shocks to the real interest rate are ... -
Essays in Financial Economics
(2015-05-18)This dissertation addresses the central issue of understanding how frictions to information flow distort the ability for prices to incorporate new information. In chapter 1, “Forgotten Portfolios”, I illustrate how the ... -
Essays in Financial Economics
(2017-05-16)My dissertation is composed of three papers in financial economics. In the first essay, “Credit Migration and Covered Interest Rate Parity,” I document economically large and persistent discrepancies in the pricing of ... -
Essays in Financial Economics
(2016-12-12)This dissertation explores how financial markets are shaped by monetary policy and financial regulation. In the first chapter, I study how banks adjust their balance sheet to the prospect of stricter supervision (co-authored ... -
Essays in Financial Intermediation
(2018-05-11)This dissertation contains three essays on how differences among financial intermediaries affect the provision of financial services. The first essay, "Bank Consolidation and Financial Inclusion," focuses on deposit-taking ... -
Essays in Household Finance and Bank Regulation
(2017-01-25)My dissertation focuses on topics in household finance and bank regulation. In chapter 1, I estimate the household consumption response to a predictable, quasi-permanent income shock. Credit card spending rises well before ...