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RCFS News

Paper Spotlight: The Disparate Effect of Nudges on Minority Groups

Nudges have long been recognized as devices that can influence individuals to take positive actions. Because they are relatively cheap to implement, effective nudges can be a useful policy tool. But can nudges lead to or even exacerbate differences in outcomes across different groups of people? In “The Disparate Effect of Nudges on Minority Groups,” Maya Haran Rosen and Orly Sade explore this question in the context of the Savings… Read More »Paper Spotlight: The Disparate Effect of Nudges on Minority Groups

Paper Spotlight: What’s Good for Women Is Good for Science: Evidence from the American Finance Association

The reasons that can explain the very important issue of gender disparities in labor market outcomes are still quite nebulous. To remove such disparities we need first to understand the sources of women’s differential labor market outcomes. Differences in human capital have been found lacking in explaining observed differences. Recent developments in the literature point to three potential factors: gender differences in preferences, structure of work that can differentially impact… Read More »Paper Spotlight: What’s Good for Women Is Good for Science: Evidence from the American Finance Association

Forthcoming Paper

“Credit Environment and Small Business Dynamics: Evidence from Establishment-Level Data” by Chen Lin, Mingzhu Tai, and Wensi Xie

Forthcoming Paper

“How Do Investors and Firms React to a Large, Unexpected Currency Appreciation Shock?” by Matthias Efing, Rudiger Fahlenbrach, Christoph Herpfer, and Philipp Krueger

Paper Spotlight: Optimal Capital Structure with Imperfect Competition

Why do firms in the same industry often have different leverage levels? In their paper “Optimal Capital Structure with Imperfect Competition,” Egor Matveyev and Alexei Zhdanov show that strategic interaction alone can generate this difference. The authors first exhibit a theoretical model in which two ex ante identical firms are deciding when to enter an industry and also how much debt to issue. The product price depends both on the… Read More »Paper Spotlight: Optimal Capital Structure with Imperfect Competition

Paper Spotlight: P2P Lenders versus Banks: Cream Skimming or Bottom Fishing?

              Peer-to-peer (P2P) lending, directly matching borrowers and lenders without the presence of an intermediating bank or the need of deposits, has grown rapidly in many countries. This growth has placed in focus the competition between this new form of un-intermediated lending and the traditional intermediated bank lending. A series of questions regarding the competition between banks and P2P platforms arise: When do banks… Read More »Paper Spotlight: P2P Lenders versus Banks: Cream Skimming or Bottom Fishing?

New Issue: May 11(2)

The May issue of RCFS has published! The Editor’s Choice paper is: “P2P Lenders versus Banks: Cream Skimming or Bottom Fishing?” Calebe de Roure, Loriana Pelizzon, and Anjan Thakor

Registered Reports Repository

The RCFS Winter Conference, which took place in February, included a Call for Proposals on “Finance for the Greater Good.” The accepted proposals are now available to view in the Registered Reports Repository.

Forthcoming Paper

“Do Security Analysts Discipline Credit Rating Agencies?” by Kingsley Fong, Harrison Hong, Marcin Kacperczyk, and Jeffrey Kubik