Although the impact of digital services on individual and micro entity decision-making has been well documented, empirical evidence on the effect of digital platforms on the macroeconomy is still rare. Leveraging shipment-level custom data from 2013 to 2017, we quantify the impact of a...

Using a multi-tier mapping of supply chain relationships constructed from granular global, firm-to-firm supplier--customer linkages data, we quantify the degree of financial risk propagation from the supply network beyond firms' direct supply chain connections and isolate structural network...

A widespread belief is that the traditional brick-and-mortar K--12 education system in the US is broken. The private sector, specifically education technology (EdTech) companies, have stepped in to try to help. In this paper, we study DonorsChoose, a nonprofit that works to improve the...

We investigate the time variability of abnormal returns from socially responsible investing (SRI). Using portfolio regressions and event studies on multiple data sources including analyst ratings, firm announcements and realized incidents, we consistently find that "good" stocks significantly...

We conduct a systematic examination of the returns to initial coin offerings (ICOs) throughout the hype cycle using hand-compiled data on all trading ICOs from 2014 to 2019. We demonstrate that ICOs persistently outperform non-ICO cryptocurrencies during both the market boom and crash. We then...

Using a structural market microstructure model, we develop a new measure of price informativeness that utilizes data on both price and volume, which we call the INF measure. We show that, compared to traditional measures, our measure is better at capturing information in prices, evidenced by...

We construct an event-based outcome measure of firm-level environmental, social, and governance (ESG) impact for public and private firms globally from 2007 to 2015 using data from RepRisk. Then, we measure the societal impact of corporate social responsibility (CSR) engagements using...

Problem Definition: Education technology innovations such as Massive Open Online Courses (MOOCs) platforms could potentially enable a more inclusive learning environment by delivering education to traditionally-disadvantaged learners such as women. However, inclusivity does not necessarily...

Policy makers in many developing countries use maximum price or markup policies to control pharmaceutical costs, which represent 20--60% of their overall healthcare expenditure. We study the price effect of price ceiling policies by exploiting a major policy shift in China: the elimination of...

Supply chain risks, despite being a well-developed theoretical concept, are difficult to quantify, limiting the scope of empirical research. I develop a firm-level measure of supply chain risk exposure from a novel source of unstructured data---managers' discussions of supply chain-related...