During the 2008-2009 financial crisis, firms with high social capital, measured as corporate social responsibility (CSR) intensity, had stock returns that were four to seven percentage points higher than firms with low social capital. High-CSR firms also experienced higher profitability, growth,...

We develop a methodology to study how the subprime crisis spills over to the real economy. Does it manifest itself primarily through reducing consumer demand or through tightening liquidity constraint on non-financial firms? Since most non-financial firms have much larger cash holding than...

Finance and insurance are being transformed by Artificial Intelligence (AI). Nevertheless, the consumer is not passive in this process and there is some inhibition to trust. This research models trust in Fintech and trust in Insurtech. The two models are then compared to evaluate if trust in...

This paper addresses corporate governance issues around the use of celebrity independent directors in closely held financial institutions. The authors employ the failure of Lombard Finance, a closely held New Zealand finance company to illustrate the agency conflict between directors, who were...