The presence of institutional investors in a firm's ownership structure is often associated with improved corporate governance practices and increased focus on long-term sustainable value creation. This study investigates whether the presence of institutional investors and a strong CSR...

This paper examines the microeconomic determinants of residential real estate prices in Caracas, Venezuela, using a private database containing 17,526 transactions from 2008 to 2009. The particular institutional characteristics of many countries in Latin America, and Venezuela in particular,...

A number of developing countries use land expropriation policies to expand cities and develop peri-urban areas. In China, an average of 1,600 km2 were expropriated annually from 2004-2018. The impact of this urban development strategy on expropriated households is not well-understood. I estimate...

We identify the causal effect of career incentives on bureaucrat performance by exploiting the ex ante competitiveness of promotions. Using detailed data on the career histories of top bureaucrats in all Chinese prefectures between 1996 and 2014, we show that bureaucrats with fewer competitors...

This paper uses the enactment of China’s 2007 Property Law (the Law), which reduces the risk of expropriation by local governments, as the setting to investigate the importance of property rights protection for private firm investment. Using propensity score matching and a...