Annual Conference

|

Investment Finance

|

May 2021

Best Short

Pasquale Della CORTE, Robert KOSOWSKI, Nikolaos P. RAPANOS
We infer investors' expectations about future stock returns through a measure of short conviction that exploits net short positions disclosed at the investor-stock level for European stock markets. A strategy that sells high-conviction stocks and buys low-conviction stocks, named Best Short, generat...
Keywords: Disclosure, Short-sale performance, anomalies, Hedge Funds.
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

Corporate Finance, Senior Fellows/Fellows

|

May 2015

Behind the Scenes: The Corporate Governance Preferences of Institutional Investors

Laura STARKS, Joseph A. MCCAHERY, Zacharias SAUTNER
We survey institutional investors to better understand their role in the corporate governance of firms. Consistent with a number of theories we document widespread behind-the-scenes intervention as well as governance-motivated exit. Both governance mechanisms are viewed as complementary devices, in ...
Keywords: institutional investors, Corporate governance, shareholder activism
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

Labour Economics

|

May 2024

Barriers to Labor Migration for the Rural Poor

Abu S. SHONCHOY, Tomoki FUJII, Selim RAIHAN
Migration could be an important anti-poverty measure, allowing unemployed rural poor spatially reallocate to areas where employment opportunities are promising. However, permanent rural-to-urban migration by the poor in developing countries is surprisingly limited. This raises important academic and...
Keywords: Field Experiment, On-the-job Training, Bangladesh, Garment Industry, Rural, Extreme Poor
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

Economic Transformation of Asia

|

May 2018

Barriers to Entry and Regional Economic Growth in China

Loren BRANDT, Gueorgui KAMBOUROV, Kjetil STORESLETTEN
The non-state manufacturing sector has been the engine of China’s economic transformation. Up through the mid-1990s, the sector exhibited large regional differences; subsequently we observe rapid convergence in terms of new firm start-up rates, productivity, and wages. To analyze the drivers of th...
Keywords: Chinese economic growth, SOEs, firm entry, entry wedges, capital wedges, output wedges, SOE reform
  • View
  • Download
  • Bookmark
  •    |   

Specialty Conference

|

Specialty Conference

|

Jan 2017

Banks Credit and Productivity Growth

Fadi HASSAN, Filippo di MAURO, Gianmarco I. P. OTTAVIANO
Financial institutions are key to allocate capital to its most productive uses. In order to examine the relationship between productivity and bank credit in the context of different financial market set-ups, we introduce a model of overlapping generations of entrepreneurs under complete and incomple...
Keywords: Bank Credit, Capital Allocation, productivity, Credit Constraints
  • View
  • Download
  • Bookmark
  •    |