Essays in Consumer and Corporate Finance

Abstract

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 debtor protections in consumer finance. In chapter one, I examine the institution of consumer bankruptcy and the effect it has on consumers' access to credit and subsequent financial health. In chapter two, I study the effect of debtor protections during the recent recession, and quantify the extent to which these policies can alleviate the decline associated with debt-driven recessions. Finally, in the third chapter, I focus on the governance of firms, specifically examining a new measure capturing the extent to which foreign firms cross-listing in the United States bind to domestic governance rules. In sum, my dissertation chapters provide new perspectives on the interaction between creditors and debtors, and the extent to which policy environments can influence this interaction.