Financial Economics
Corporate Finance Theory
Financial Intermediation
We study bank capital requirements as a tool to address financial risks and externalities caused by carbon emissions. Capital regulation can...
Climate change has become a major topic of discussion at central banks and financial regulators. Key aspects of this debate include whether and how...
We characterize necessary conditions for socially responsible investors to impact firm behavior in a setting in which firm production generates social...
The Review of Financial Studies, 32(6), 2384–2421.
We study the resolution of global banks by national regulators. Single-point-of-entry (SPOE) resolution, where loss-absorbing capital is shared across...
Using novel position and trading data for single-name corporate credit default swaps (CDSs), we provide evidence that CDS markets emerge as...
