As Low Carbon portfolios have become increasingly mainstream, one finds that there are far too many seemingly equivalent products available to investors. As a result, accurately attributing the sources of carbon reduction become even more important. While there may not be one size that fits all...

The growing popularity of factor investing has led to a proliferation of factor indices targeting the same factors, as well as factor definitions and portfolio instruction techniques. For an investor, what matters is to know what kind of risks they are taking on and whether they are getting the...

Unlike conglomerates in the U.S., where investment flows may be distorted due to power struggles (Rajan, Servaes, and Zingales (2000)), we find that diversified business groups in India, on average, invest efficiently. Our analysis controls for the possibility of tunneling (Bertrand, Mehta, and...