​This paper reconsiders the formal estimation of bank risk using the variability of the profit function. In our model, point estimates of the variability of profits are derived from a model where this variability is endogenous to other bank characteristics, such as capital and liquidity. We...

Political views are increasingly associated with greater hostility and unfavorable feelings toward political rivals. Exploiting turnover Presidential elections changing US counties’ political alignment with the party of the President, this paper documents that the lack of alignment has a...

We study a channel through which politicians can use corporate taxes to extract firm's resources. We find that politically-connected firms pay higher taxes than their non-connected counterparts. Using election as an exogenous shock, we also observe that politically-connected firms pay higher...

The purpose of this paper is to examine factors associated with promotions to manager of certified public accountants in auditing with special emphasis on ethnicity and gender. A survey was sent to 2,427 Certified Public Accountants (CPAs) in Santa Clara County, California. We conducted a...