Crowded trades by similarly trading peers influence the dynamics of asset prices, possibly creating systemic risk. We propose a market clustering measure using granular trading data. For each stock the clustering measure captures the degree of trading overlap among any two investors in that...

The emergence of high frequency trading has resulted in `bursts' of orders arriving at an exchange (nearly) simultaneously, yet most electronic financial exchanges implement the continuous limit order book which requires processing of orders serially. Contrary to an assumption that appears...

We investigate the assertion that fair valuation of financial instruments exacerbated the 2008 financial crisis. We focus on the 4th quarter of 2008 following the Lehman Brothers bankruptcy, the Reserve Primary fund “breaking the buck” and other adverse events. Our central finding is that...

The theoretical engagement with the law of Equity has never been so popular as nowadays. This immensely important body of law is now attracting the attention of private law theoreticians as questions that were first raised by Aristotle take a modern twist, and entrenched traditions are being...

Pay inequality, tax avoidance, abuse of superior bargaining power, pollution... the list of corporate misdeeds seems to keep growing. No company wants to be labelled as being guilty of any of these practices. Therefore some mention of corporate social responsibility has become de rigueur in...