We empirically test the hypothesis that a major in economics, management, business administration or accounting (for simplicity referred to as business/economics) leads to more-conservative (right-wing) political views. We use a panel dataset of individuals (repeated observations for the same...

We examine the transmission of the risk-taking channel to different industries using syndicated loans to U.S. borrowers from 1984 to 2018. We find that a one percentage point decrease in the shadow rate increases loan spreads by more than 30 basis points in the mining & construction and...

We investigate the effect of regulatory enforcement actions on banks' reputation by estimating the effect of non-compliance with laws and regulations among lead arrangers on the structure of syndicated loans. Consistent with a regulatory reputational stigma, a punished lead arranger increases...

We present and estimate a model of management practices as technology of the banking firm. Management is an unobserved (latent) input in the production function of banks, which we estimate at the bank-quarter level using data for all U.S. banks from 1984 to 2016 and Bayesian techniques. We show...

Using data envelopment analysis and stochastic frontier models, we introduce a new country-month index of efficiency of government policy in dealing with the COVID-19 pandemic. Our indices are in respect of 81 countries and cover the period from May 2020 to March 2021. Our framework assumes that...

We contend that economic preferences over risk-taking in different subnational regions worldwide affect fundamental aspects of firms’ corporate financing, namely financing costs and capital structure. We study this hypothesis, by hand-matching firms’ regions worldwide with the corresponding...