Over the past several decades, a growing literature has documented the adverse health effects of pollution at the individual level. In this paper, we document the detrimental impact of prenatal exposures to pollution on CEOs. Specifically, we draw on the extensive medical literature documenting...

Using a novel typology of serial acquirers, we examine several puzzles documented in prior literature. We show that acquisitions by different types of acquirers are driven by different factors, they acquire different sizes of targets, and subsequent acquisitions by acquirers are predictable ex...

We exploit the staggered introduction of index funds in different segments and countries to study how increased competition from indexing affects the performance-flow relation and incentives of actively managed equity mutual funds. An increase in the market shares of available country-level...

We exploit the staggered introduction of index funds in different segments and countries to study how increased competition from indexing affects the performance-flow relation and incentives of actively managed equity mutual funds. An increase in the market shares of available country-level...

We document a significant decline in the level of generalized trust among finance professionals relative to the decline of trust in the general U.S. population, which is unique to the finance industry. The decline in finance professionals’ trust in others occurs across all subsectors in...

We exploit the staggered introduction of index funds in different segments and countries to study how increased competition from indexing affects the performance-flow relation and incentives of actively managed equity mutual funds. An increase in the market shares of available country-level...