In this paper we propose an electoral model that studies the interaction between the distribution of voters ideal policies and the success of dynastic politicians. Electoral success of politicians depends on their ability to implement better policies for the voters because campaign promises are...

Using a proprietary dataset of initial coin offerings (ICOs) and cryptocurrencies, we systematically examine whether disclosure quality, governance mechanisms, and team quality can differentiate legitimate ICO projects from fraudulent ones. The three fundamental factors positively affect ICO...

Does higher office always lead to more favoritism? We argue that firms may lose their benefit from a connected politicians ascent to higher office, if it entails stricter scrutiny that may reduce favoritism. Around close Congress elections, we find RDD-based evidence of this adverse effect that...

The Dodd-Frank Act (Section 939B) enacted in 2010 repealed credit rating agencies' (CRAs) exemption from Regulation Fair Disclosure. Testing whether CRAs continue to provide new information to the market after the repeal, we find that the significant pre-repeal stock price responses to rating...