Annual Conference

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International Macroeconomics, Money & Banking, Senior Fellows/Fellows

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May 2017

Geographic Diversification and Banks Funding Costs

Chen LIN, Wensi XIE, Ross LEVINE
We assess the impact of the geographic expansion of bank assets on the cost of banks’ interest-bearing liabilities. Existing research suggests that expansion can both intensify agency problems that increase funding costs and facilitate risk diversification that decreases funding costs. Using a new...
Keywords: banking, banking regulation, Funding Cost, Financial stability
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Annual Conference

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Tech, Digital Markets and AI

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May 2025

Generative AI and Asset Management

Jinfei SHENG, Zheng SUN, Baozhong YANG, Alan ZHANG
This paper proposes a novel measure of investment companies’ reliance on generative AI, focusing on its implications for hedge funds. We document a sharp increase in generative AI usage by hedge funds after ChatGPT’s 2022 launch. A difference-in-differences test shows that hedge funds adopting g...
Keywords: Generative AI (GenAI), ChatGPT, Hedge Funds, GenAI Reliance, Portfolio Return, Alpha, Survey, AI Disparity
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Annual Conference

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Accounting, Senior Fellows/Fellows

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May 2022

Gender, Competition, and Performance: International Evidence

Kai LI, Qiyuan (Rachel) PENG, Rui SHEN, Gabriel WONG
This paper is one of the first in the literature to study whether and how gender differences in performance under competition vary across countries using field evidence. Our main measure of country-level differences is the individualism dimension in Hofstede’s (1980, 2001) national cultural framew...
Keywords: gender, Competition, equity analysts, forecast error, individualism, international evidence
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Webinar Series

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Pandemic

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Jun 2020

Gender Equality in Work and COVID-19 Deaths

Renee B. ADAMS
On average, women comprise a smaller share of deaths from Covid-19. Variation in the share of Covid-19 deaths for women across countries and US States suggests that biological factors cannot fully account for this gender difference. I hypothesize that women’s participation in the workforce is rela...
Keywords: COVID-19, Death, gender, Work, Equality, Doctors, Nurses, labor Force Participation
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Annual Conference

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Accounting

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May 2017

Gender and beauty in the financial analyst profession: evidence from the United States and China

Kevin VEENSTRA, An-Ping LIN, Congcong LI, Hai LU
This study examines whether institutional investors’ voting for All-Star financial analysts is affected by analyst beauty. Using a sample of 1,135 U.S. analysts and controlling for analyst performance, we document that beauty, on average, does not affect the outcome of All-Star analyst voting. How...
Keywords: Analysts, Beauty, Information asymmetry, Labor market
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