We provide the first empirical evidence on how media-driven narratives influence cross-border institutional investment flows. Applying natural language processing techniques to one-and-a-half million newspaper articles, we document substantial cross-country variation in sentiment and risk...

We analyze shifts in the structure of China's capital outflows over the past decade. The composition of gross outflows has shifted from accumulation of foreign exchange reserves by the central bank to nonofficial outflows. Unlocking the enormous pool of domestic savings could have a significant...

We provide the first empirical evidence on how media-driven narratives influence cross-border institutional investment flows. Applying natural language processing techniques to one-and-a-half million newspaper articles, we document substantial cross-country variation in sentiment and risk...

Minority-owned banks have a mission to promote economic well-being in their communities. In particular, specialization in lending based on a central mechanism of shared-minority identity can yield an advantage in serving community needs through times of financial and economic crises. To test...

Minority-owned banks have a mission to promote economic wellbeing in their communities. In particular, specialization in lending based on a central mechanism of shared-minority-identity can yield an advantage in serving community needs through times of financial and economic crises. To test this...

We conduct the first broad-based international study on bank-level failures covering 92 countries over 2000-2014, investigating national culture variables as failure determinants. We find individualism and masculinity are positively associated with bank failure, but operate through different...