Discussion Papers

We provide worldwide large-sample evidence of a recent innovation in corporate governance: the voluntary creation of a separate board committee to...

A global consensus is growing on the contribution that corporations and finance must make towards the net-zero transition in line with the Paris...

We study coordinated engagements by a prominent international network of long-term shareholders cooperating to influence firms on environmental and...

Climate change is one of the highest-ranking issues on the political and social agenda. Corporations are one of the main actors that will play a major...

We survey 509 equity portfolio managers from both traditional and sustainable funds on whether, why, and how they incorporate firms’ environmental and...

In a canonical takeover model we let informed large shareholders choose between making a bid and initiating a sale to another acquirer. Such takeover...

India’s Unified Payment Interface (UPI) is an example of how an innovative payments and settlement system can initiate an economy wide transformation...

An organization is autonomous if it has the right or power of self-government. Self-government implies that autonomous organizations cannot rely on...

We investigate how timeliness in enforcing legal contracts affects economic growth across countries. We focus on judicial timeliness as a proxy for...

Privately informed about firm fundamentals, corporate insiders detect activism-motivated trades better than other traders. This paper solves the model...

We review the literature on the effectiveness of public policies to facilitate firms’ access to finance. The rationale for such policies is to address...

A burgeoning economics and political science literature studies the effects of economic sanctions on various aspects of economic and social life of...

This paper investigates the impact of introducing junior unsecured loans (i.e., FinTech loans) in the small business lending market. Using French...

Hybrid regimes feature combinations of democratic and autocratic attributes. Their common element is a leader who cultivates a clientele of favored...

Argentina’s progress towards legal equality for women has been slower than in most other Latin American countries. In 1971 Argentina’s score of 31 on...

Since 2017, the United Arab Emirates have introduced several gender legal reforms after decades of poor performance on economic and social equality...