In 2011, German legislators passed the latest reform to German Insolvency Law (ESUG). ESUG mandates that creditors of larger firms can exert more influence on the appointment of the insolvency administrator, resulting in a shift of power from shareholders to creditors. Based on...

Being subject to time and budget constraints, researchers have to decide whether to attend academic conferences, and if so, which conferences are associated with the best publication outcomes. Based on acknowledgment information obtained from footnotes of more than 3,000 research articles...

Less than 15% of global board seats are held by women. The economic consequences of this low representation of women at the top of corporations are not well understood. One potential effect of a more rigorous selection of female board members is that those few who make it to the top exhibit...

When introducing UEFA's Financial Fair Play (FFP) it was argued that as a beneficial side effect competition in European football leagues should become more equilibrated and perceived as being fairer. Based on a hand-collected dataset on league results, player market values as well as investor...

We use the formation of new equity indexes and changes to index methodology to examine how shocks to firms' information environment affect their financing decisions. Firms added to an index are covered by more equity analysts, have greater news coverage, increased stock and bond liquidity, and...

In an attempt to match US bankruptcy law, many European countries have reformed their insolvency laws towards a regime that fosters corporate restructuring. This paper evaluates the implications of these reforms. Based on a staggered difference-in-differences analysis around eight insolvency...