This paper studies the use of psychometric tests, which were designed by the Entrepreneurial Finance Lab as a tool to screen out high credit risk and potentially increase access to credit for small business owners in Peru. The analysis uses administrative data covering the period from June 2011...

IPOs increasingly involve early investors who commit to buying shares before the offering is launched. Using a European sample, we examine whether banks underprice strongly-demanded IPOs to satisfy the limit prices of early investors, and whether such investors salvage weakly- demanded IPOs in...

Sections 20 and 32 of the 1933 Glass-Steagall Act address a potential conflict of interest by banning commercial banks from the market for corporate securities underwriting. This restriction was officially rescinded in 1999 by the Gramm-Leach-Bliley Financial Modernization Act. In turn, this...