The design of tests for discrimination in the credit market is controversial. This paper revisits the issue and pays special attention to double discrimination, which consists in targeting loan applicants who belong simultaneously to two vulnerable groups. Double discrimination may take...

This paper compares and contrasts factor investing and sector investing, and then seeks a compromise by optimally exploiting the advantages of both styles. Our results show that sector investing is effective for reducing risk through diversification while factor investing is better for capturing...

Pyramids, cross-ownership, rings and other complex features inducing control tunnelling are frequent in the European and Asian industrial world. Based on the matrix methodology, this paper offers a model for measuring integrated ownership and threshold-based control, applicable to any group of...

Going beyond a narrow focus on social enterprise, Grimes, Williams, and Zhao (2019) advance a model of mission drift that they argue is relevant to understanding why—and with what consequences—all types of organizations might act in ways that are inconsistent with their identity and image....

The literature has not reached a consensus yet regarding the existence of sovereign creditor moral hazard. Exploiting an exceptional historical example, this paper proposes an original method to address this issue. As the corona which are observable only during a total eclipse of the sun,...