Group lending has been widely adopted in the past thirty years by many microfinance institutions as a means to mitigate information asymmetries when delivering credit to the poor. This paper proposes an empirical method to address the potential omitted variable problem resulting from unobserved...

We examine the impact of shareholder litigation on short selling ahead of PIPEs. We find that PIPE issuers that incurred securities class action lawsuits prior to the PIPE are shorted more heavily ahead of the PIPE issue. The case status at the PIPE date, the severity of the lawsuit, and the...

Commons problems present behavioral dilemmas, with tensions between individual and collective rationality. When users of a common-pool resource are not effectively excluded, the collective behavior of individuals pursuing their self-interests dissipates resource rents. We derive a non-parametric...