We explore three ways to classify mutual funds as ESG-oriented: by their names, their voting records, and their holdings. ESG-named funds and ESG-voting funds tend to be smaller than non-ESG funds, and spread their investment over more individual companies. They never control more than a quarter...

We show that U.S. industrial firms invest heavily in non-cash, risky financial assets such as corporate debt, equity, and mortgage-backed securities. Risky assets represent 40% of firms' financial portfolios, or 6% of total book assets. We present a formal model to assess the optimality of risky...

I study how fund families’ simultaneous debt and equity holdings affect risk shifting by portfolio firms. Families generate more income from debt in one-third of their dual holding positions; I argue their equity in those positions is captured. Firms with more captured dual holders exhibit...

Due to privatization and globalization in the last decade, though India has emerged as the fastest developing country in terms of technological enhancements, education and employment, poverty, unemployment and resultant backwardness have been crucial issues in the creation of knowledge economy...

In 21st century education system, Information Technology is playing a vital role. IT has simplified the teaching-learning process in the higher education. Today, Educators worldwide are employing IT as one of the tools for the knowledge transmission. My paper "Blog: Help Engineers Practice...

Sales commissions may present a conflict of interest that allows investment advisers to obtain rents from uninformed clients. Alternatively, commissions might be a contracting solution to motivate information provision. To analyze the relation between commissions and adviser misconduct, I...