As the American college student population has become more diverse, the goal of hiring a more diverse faculty has received increased attention in higher education. A signal of institutional commitment to faculty diversity often includes the hiring of an executive level chief diversity officer...

We address two apparent paradoxes of risk management: (1) managers hedge in order to avoid negative earnings surprises, yet they tend to hedge risks uninformative of the value of the company; and (2) the presence of options in managers' compensation distorts their incentive to hedge, inducing...

As the American college student population has become more diverse, the goal of hiring a more diverse faculty has received increased attention in higher education. A signal of institutional commitment to faculty diversity often includes the hiring of an executive level chief diversity officer...