We study the effects of transparency disclosures on the risk culture, corporate culture, and performance of U.S. banks. Using stress test regulation, textual analysis, and a regression discontinuity design, we exploit the regulation's quasi-experimental properties around the bank-size policy...

Purpose - This paper aims to examine how bank stress tests affect bank tax planning. Design/methodology/approach - The study uses US bank stress test bank size thresholds and a regression discontinuity design to investigate the effect of the Dodd-Frank Act and the instituted bank stress tests on...

This paper analyzes the effect of mass-shootings on peer-to-peer lending behavior. Using US data from 2014-2018, we implement both an event study and a difference-in-differences methodology to exploit the quasi-experimental nature of mass-shooting incidents on local credit markets. Our findings...

We examine the impact of the COVID-19 pandemic on firm borrowing behavior across 31 countries. We exploit the quasi-experimental properties of this pandemic to investigate how national culture, government preparedness, and response to the pandemic affect corporate borrowing and the structure of...

This paper studies Chile's 2009 Equal Pay for Equal Work law and its impact on manufacturing plant behavior. Using the difference-in-discontinuities design to exploit the law's quasi-experimental properties, I find that large plants with disclosure requirements and substantially higher penalties...

Using hand-collected race information of small business owners that concealed their race in Paycheck Protection Program applications, we find evidence that not disclosing race information in loan applications pays off significantly. Our results show that black-owned businesses that concealed...

We investigate the impact of mandatory transparency disclosure requirements on tax avoidance in US bank holding companies. We use the implementation of the Dodd-Frank bank stress tests as our identification strategy. Using regression discontinuity to exploit the quasi-experimental properties of...

Do local social shocks affect borrower behavior in digital lending markets? Using U.S. mass shooting data for causal identification, this paper investigates the reactionary effects of adverse local social shocks on peer-to-peer (P2P) lending markets. Our short-run difference-in-differences and...

Do racial protests help or hurt access to credit for small businesses? This paper examines the effect of local racial demonstrations, such as Black Lives Matter (BLM) protests, and the subsequent racial justice movement following the death of George Floyd on racial disparities in the Paycheck...

This paper examines the effect of Secure Communities, an internal immigration enforcement program, on self-employment and self-employed income in the United States. We find that while the policy did not substantially decrease the self-employment rate, it had an unintended adverse impact on the...