Understanding the impacts of new technology and innovations on the banking sector is important and of growing interest However, there is limited research on the detailed channels of these impacts and, consequently, their evaluations with respect to th

Firms frequently lease capital, as indicated by the data; however, the impact of leasing on aggregate efficiency has seldom been studied In this paper, we demonstrate that leasing can mitigate the inefficiencies caused by pecuniary externalities in ec

We examine the price discovery process in the Chinese equity market Leveraging a unique feature of China’s market - the release of macroeconomic announcements that are often unscheduled, varying in time, and occur outside of regular trading hours

Although the literature has emphasized different channels through which changes in credit conditions affect economic activity, the relative quantitative importance of these channels remains unclear In this paper, we seek to evaluate the relative role

This paper considers a random search model where some locations provide sellers with better chances of meeting many buyers than other locations (for example popular shopping streets or the first page of a search engine) When sellers are heterogeneous

We examine how search frictions impact labor market sorting by constructing a model consistent with recent evidence that employers collect a pool of applicants before interviewing a subset We derive the necessary and sufficient conditions for sorti

Our study elucidates the idiosyncratic volatility puzzle, the observed negative correlation between past idiosyncratic volatility and stock returns, by examining firms optimal decisions to buyversus- lease capital We find that firms with elevated

We study whether climate-related innovation leads to carbon emission reductions by analyzing supply chain networks We find that climate innovation reduces carbon emissions at customer firms, but only for the supplier firm s product innovation patents,

It is not feasible to reserve a fraction of a seat, therefore to respect the spirit of affirmative action the Indian reservation system adheres to a rotating system of seat claiming, commonly referred to as a roster Developing a roster involves addres

Using scandals involving US congresspersons over the period 1992-2018, we investigate the reputational spillover effect between scandal-tainted congresspersons and politically-connected firms Following the first media report of a scandal, firms connec