Publications

Management Science, 71 (11), 9548-9568

Journal of Financial and Quantitative Analysis, 60 (5), 2500 - 2525

The anti-ESG backlash could have an unexpected upside for European index fund managers.

We develop a novel method to infer intra-quarter trading of individual mutual funds. After a mutual fund executes a trade, its reported portfolio...

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

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...

The Financial Reporting Council has got it about right with its revised UK Stewardship Code.

Financial institutions are rapidly embracing AI – but at what cost to financial stability? This column argues that AI introduces novel stability risks...

Journal of Financial Econometrics, 23 (1), nbae033

Management Science, 71 (9), 7774-7799

While tens of millions of Europeans have suffered from Russia’s war in Ukraine, a few Russian businesspeople have gotten richer from it. This column...

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

Financial crises usually inflict the most damage when banks suddenly shift from pursuing profits to survival. This column argues that such drastic...