Conventional wisdom warns that unaccountable political and business agents can enrich a few at the expense of many. This title intends to find statistical evidence and case study illustrations that democratic institutions at various governance levels have facilitated opportunistic gains for...

Scotchmer showed how a sex difference in risk taking can cause promotional patterns to differ across sexes, even if discrimination is absent and ability is identically distributed ex ante. In her model, (1) winner-take-all promotions favor risk-taking males, but (2) promoted females enjoy...

Does auditor independence increase the quality of financial disclosures, and is regulation necessary to realize such improvements? Conventional wisdom answers "yes!," but lacks support from scholarly studies. We thus investigate whether auditor independence affects earnings quality in ways that...

Private investment increases in a cross-country panel when formal institutions (e.g., term limits) do not constrain executives' planning horizons. This evidence is consistent with institutions that encourage reputation-building checking opportunistic incentives and extends evidence from domestic...

Dino Falaschetti and Michael Orlando unify the treatment of the many deeply related topics in money and banking in this wide-ranging book. By continually building on the assumption that economic actors are maximizers, they explain how monetary and financial services, as well as related...

Dino Falaschetti and Michael Orlando unify the treatment of the many deeply related topics in money and banking in this wide-ranging book. By continually building on the assumption that economic actors are maximizers, they explain how monetary and financial services, as well as related...

Conventional wisdom warns that unaccountable political and business agents can enrich a few at the expense of many. But logically extending this wisdom implies that associated principals – voters, consumers, shareholders – will favor themselves over the greater good when ‘rules of the...

International financial markets are rapidly becoming a single global market. For these markets, most large institutional users are not satisfied with the existing levels of disclosures by multinational firms. One purpose of this research study was to investigate existing footnote disclosure...