Now showing items 1-8 of 8

    • Asset Price Dynamics in Partially Segmented Markets 

      Greenwood, Robin; Hanson, Samuel; Liao, Gordon Y (Oxford University Press (OUP), 2018-09)
      We develop a model in which capital moves quickly within an asset class but slowly between asset classes. While most investors specialize in a single asset class, a handful of generalists can gradually reallocate capital ...
    • Extrapolation and bubbles 

      Barberis, Nicholas; Greenwood, Robin; Jin, Lawrence; Shleifer, Andrei (Elsevier BV, 2018-08)
      We present an extrapolative model of bubbles. In the model, many investors form their demand for a risky asset by weighing two signals: an average of the asset’s past price changes and the asset’s degree of overvaluation. ...
    • Fraud Allegations and Government Contracting 

      HEESE, JONAS; Perez Cavazos, Gerardo (Wiley, 2019-06)
      This paper examines whether fraud allegations affect firms’ contracting with the government. Using a dataset of whistleblower allegations brought under the False Claims Act against firms accused of defrauding the government, ...
    • Managing the Family Firm: Evidence from CEOs at Work 

      Bandiera, Oriana; Lemos, Renata; Prat, Andrea; Sadun, Raffaella (Oxford University Press (OUP), 2017-12-07)
      We present evidence on the labor supply of CEOs and on whether family and professional CEOs differ on this dimension. We do so through a new survey instrument that allows us to codify CEOs’ diaries in a detailed and ...
    • The Political Influence of Voters’ Interests on SEC Enforcement 

      Heese, Jonas (Wiley, 2019-07)
      I examine whether political influence as a response to voters’ interest in employment levels is reflected in the enforcement actions of the Securities and Exchange Commission (SEC). I find that large employers are less ...
    • Private Interaction Between Firm Management and Sell-Side Analysts 

      SOLTES, EUGENE (Wiley, 2013-12-31)
      Although sell-side analysts often privately interact with managers of publicly traded firms, the private nature of this contact has historically obscured direction examination. By examining a set of proprietary records ...
    • Social Risk, Fiscal Risk, and the Portfolio of Government Programs 

      Hanson, Samuel; Scharfstein, David; Sunderam, Adi (Oxford University Press (OUP), 2019-06-01)
      We develop a model of government portfolio choice in which a benevolent government chooses the scale of risky projects in the presence of market failures and tax distortions. These two frictions generate motives to manage ...
    • Winners in the Spotlight: Media Coverage of Fund Holdings as a Driver of Flows 

      Solomon, David H.; Soltes, Eugene; Sosyura, Denis (Elsevier BV, 2014-07)
      We show that media coverage of mutual fund holdings affects how investors allocate money across funds. Controlling for fund performance, fund holdings with high past returns attract extra flows only if these stocks were ...