Despite the constant and frequent merger activity across various industries in the U.S. and throughout the world, limited evidence of the success of corporate mergers has been documented. The vast body of academic research demonstrates that most mergers add no value or reduce shareholder value...

This paper analyzes the 529 College Savings Plan market using a plan level panel data set covering the years 2002 - 2006. The results show evidence of limited market competition and a positive relationship between state tax benefits and 529 plan fees. A $100 increase in potential taxable income...

This paper analyzes the role of mental health, specifically psychological distress, in self-employment decisions. We find evidence of a relationship between psychological distress and self-employment that depends on type of self-employment and severity of psychological distress. There is...

Millennials, or those born between 1980 and 1998, face unique financial situations relative to the general population. With increasing levels of educational loans and debt, many choose to live with their parents as a means of financial support, thus resulting in differing financial behaviors...

The questionable ability of the U.S. pension system to provide for the growing elderly population combined with the rising number of people affected by depression and other mental health issues magnifies the need to understand how these household characteristics affect retirement. Mental health...

Although microcredit demand is frequently assumed to be inelastic, understanding the price elasticity of demand for microcredit is exceptionally relevant in designing appropriate microfinance institution (MFI) financial products and policy. Using a unique survey instrument, this paper extracts...

This paper finds households with children and elderly dependents, the "Sandwich Generation," significantly reduce both college savings and stockholding. Having any elderly dependents decreases the probability of both stockholding and college savings by twice as much as poor personal health....

Traditional economic theories assume that individuals are endowed with certain risk preferences that are unaltered by experiences. However, recent evidence indicates that macroeconomic shocks do have an effect on an individual's willingness to take financial risks. In the context of investment...