Traditionally, fund managers cast votes on behalf of fund investors. Recently, there is a shift towards "pass-through voting,"...

We develop a two-asset search-and-bargaining model of OTC trading to estimate frictions and welfare losses in the UK...

How should we expect firms to communicate with their shareholders in the presence of uncertainty? This paper studies...

Regulating externalities is a major challenge when economic agents face uncertainty and disagreement. Traditional Pigouvian and Coasean approaches...

We study bank capital requirements as a tool to address climate-related financial risks and evaluate whether a prudential...

This paper studies how artificial intelligence (AI) affects the finance labor market when
humans and AI perform different tasks...