Purpose - Private equity and venture capital (VC) firms in the capital markets sector invest capital with the primary goal of delivering economic value. However, some firms in the capital markets sector have started to shift this focus to create (i.e. invest in) social value. More specifically,...

The worldwide trend to decentralize the responsibilities and budgets of governments impacts local firm dynamics in various ways. We use the example of Spain to test empirically whether the decentralization of governance has been conducive to increased diversification and a more even city-size...

We use cross-sectional data from 93 countries to study the relationship between how much redistribution citizens of different socioeconomic status want and how much the government actually redistributes. We focus on redistribution because it is an outcome for which there is a natural class...