Several countries have banking policies geared towards providing access to credit to ethnic or religious minorities, e.g., India, China, Malaysia, South Africa, United States. In this paper, we characterize the compensating risk premium for such minority bank (MB) policies. Our theory apparatus...

Can we reconcile the predictions of the altruism model of the family with the evidence on intervivos transfers in the US? This paper expands the altruism model by introducing effort of the child and by relaxing the assumption of perfect information of the parent about the labor market...

Family businesses make up forty percent of the Fortune 500 companies in the US, generate about two-thirds of the German GDP, employ about one-half of the labor force in Britain, and account for the majority of the private economies in developing countries. This paper develops a theory of family...

We model a capital market in which some proportion of investors get utility from owning firms that undertake spending on corporate social responsibility (CSR). We also assume different categories of firms: those with good CSR fundamentals and those with poor CSR fundamentals. We develop an...