We show that pollution increases the offering yields of municipal bonds, indicating increased risk. We establish this using a difference-in-differences design, comparing the bonds from U.S. counties revealed to contain per- and poly-fluoroalkyl substances (PFAS) in their drinking-water supplies...

Under imprecise creditworthiness information, borrowers may make erroneous credit decisions. Credit reports—which record one’s creditworthiness—became free in the entire U.S. in 2005, while these had already been free in seven states. Exploiting this in a difference-in-differences setting,...

Over recent decades, the researcher's interest in women empowerment (WE) has grown stronger and WE have become a prominent topic of discussion in business and management studies. Despite the large amount of work in this direction, the topic is itself somewhat unclear in terms of the shared...