The accuracy of a tax return is usually interpreted as an outcome of the tax evasion decision by an individual. However, in non-democratic regimes with predatory blackmail tax systems it is possible that large sums voluntarily reported by influential politicians or businessmen may be used as...

We study the impact of hiring former government officials on firms’ tax evasion using a unique administrative employee-employer matched data from Moscow, Russia. We find that firms hiring former top-level city government officials experience increased tax evasion: reported salaries of the...

Formal models in political science typically consider actors with differing interests or ideologies, but political actors often have “good faith disagreements” about how to achieve commonly shared goals. We develop a model of a hierarchical political organization in which a principal and an...

We use novel hand-collected data on political connections to find politically connected firms earn more positive (less negative) Cumulative Abnormal Returns (CARs) than those without political connections as a response to favorable (unfavorable) macroeconomic news. Using the...

Social finance is a rapidly advancing area of practice, policy and research, with a lot of unanswered questions. What does it amount to? What is it to be 'social' in finance? How do you value assets that offer a social as well as a financial return? This book provides a collection of...

Sunley P., Klagge B., Berndt C. and Martin R. (2005) Venture capital programmes in the UK and Germany: in what sense regional policies?, Regional Studies 39 , 255-273. The paper considers how far and in what ways venture capital policies in the UK and Germany have been constructed as regional...

Rapid development of the domestic private sector in communist China and Vietnam has been offered as evidence against a large literature that claims a solid legal infrastructure is required for the financial sector to contribute to economic development. One component of the counterargument holds...

We review an empirical literature that studies the role of social interactions in driving economic and financial decision making. We first summarize recent work that documents an important role of social interactions in explaining household decisions in housing and mortgage markets. This...

We review an empirical literature that studies the role of social interactions in driving economic and financial decision-making. We first summarize recent work that documents an important role of social interactions in explaining household decisions in housing and mortgage markets. This...

We review an empirical literature that studies the role of social interactions in driving economic and financial decision making. We first summarize recent work that documents an important role of social interactions in explaining household decisions in housing and mortgage markets. This...