Many firms tout their commitment to diversity, sometimes appointing racial minorities to their board of directors. We find that firms with more minority directors are associated with greater innovation output. Using patent-inventor information, we uncover an important yet previously...

We investigate the influence of financial and political factors on peer-to-peer (P2P) platform failures in China's online lending market. Using a competing risk model for platform survival, we show that large platforms, platforms with listed firms as large shareholders, and platforms with better...