This work analyzes the optimal allocation of assets over the life cycle of an investor who has the option to invest in his education. We characterize the optimal spending rule for education, and compare the optimal asset allocation of such investors with the optimal portfolios of investors with...

We investigate the effect of conflict of interest in universal banking on the price stabilization in IPOs and their short-term returns. We find that loan-based conflict increases the probability of the issue being stabilized but not on the intensity of the stabilization. We do not find evidence...

Banks that supply capital and simultaneously underwrite securities for the same clients may benefit themselves or their clients at the expenses of investors by overpricing securities. We investigate this issue by analyzing price stabilization and short-term returns of IPOs. Our analysis suggests...

The level of abstention in elections has been increasing over the years in the majority of democratic countries, whether compulsory voting exists or not. We provide empirical evidence for the role of social networks as a main factor of influence in the turnout of an election. More intense social...