The rise of the sharing economy has changed how many Americans commute, shop, vacation, and borrow. It has also disrupted long-established industries, from taxis to hotels, and has confounded policymakers. In particular, regulators are trying to determine how to apply many of the traditional...

This research explores the effects of adding bitcoin to an optimal portfolio (naïve, long-only, unconstrained and semi-constrained) by relying on a mean-CVaR approach. We explore bitcoin's role in portfolios of U.S., European and Chinese assets. We back-test to compare the performance of...

Firms can be credit constrained either because a loan has been denied by the lender or because they decide not to apply for such a loan due to expected rejection. Using a large sample of European small and medium enterprises, we investigate the relationship between gender and credit constraints....

This article examines trade credit decision in Western Europe using a comprehensive sample of 182,296 SMEs for the period 2003-2013. We develop a theoretical framework based on information asymmetry, financial distress and the role of country informal institutions. The results show that country...

We investigate the impact of employment protection on firms' credit access by looking at both credit obtained from banks and firms' decision to apply for a loan. We find that greater flexibility in structuring the employees' working hours and in dismissing employees increases the probability...

We use content analysis software to examine certain characteristics of communications arising from European Council meetings. These characteristics appear to explain a large proportion of variation in stock returns around the meeting dates. More specifically, stock market investors react...