This paper investigates the choice between delegation and centralization within political institutions in the presence of lobbying. Our legislature is composed of two bodies: the floor and an informational committee. The floor has the (formal) power to choose the policy to be implemented whereas...

We review the most recent contributions to the literature on the role of diversity in corporate finance. We focus on gender diversity but also includes various other dimensions of diversity, and analyses its impact on different aspects of corporate life, including performance, CSR strategy and...

Using a mechanism design approach, we derive endogenously the optimal IPO mechanism when institutional investors are risk averse. We show that the optimal allocation rule is such that all the institutional investors with sufficiently good information are allocated a positive quantity of shares...