Access to Finance

This blog aims to make complex academic papers accessible to a general audience. For posts on responsible business (academic papers and current events), please visit the blog of my book Grow the Pie.

For the Chinese blog, please click here.

Do Banks Offer Complex Mortgages to Mislead Customers?

Do Banks Offer Complex Mortgages to Mislead Customers?

Banks are often accused of making money off complex products that consumers don't understand. In my book, I ...
How Political Connections Can Hurt, Rather Then Help, Firm Value

How Political Connections Can Hurt, Rather Then Help, Firm Value

We often think of political connections as clearly favoring a company. Perhaps the most extreme example is Donald ...
What Drives the Cost of Default Insurance?

What Drives the Cost of Default Insurance?

One of the many negative consequences of the COVID-19 pandemic is that companies may default. Companies going ...
The Effect of the ECB’s Bond Buying Program

The Effect of the ECB’s Bond Buying Program

The European Central Bank is launching a €750 billion bond buying program to address the COVID-19 pandemic. Will ...
Do Workers on Boards Protect Jobs in a Downturn?

Do Workers on Boards Protect Jobs in a Downturn?

A hot topic is whether companies should have workers on their boards, to ensure they act in the interest of ...
Spillover Effects of Hedge Fund Activism

Spillover Effects of Hedge Fund Activism

Hedge fund activism is a controversial topic.  Prominent lawyer Marty Lipton argues that the long-term future of ...
Grow The Pie in 28 tweets

Grow The Pie in 28 tweets

On 6 April, I did a Twitter discussion on my book, hosted by Blackwell's Bookshop. They asked me to start by ...
The Inconsistency of ESG Ratings: Implications for Investors

The Inconsistency of ESG Ratings: Implications for Investors

(This article was initially featured on the blog for my book, "Grow the Pie: How Great Companies Deliver Both ...
Capital Markets in China

Capital Markets in China

China will soon become the largest economy in the world, but many Westerners (myself included) know very little ...
Corporate Finance in China

Corporate Finance in China

China will soon become the largest economy in the world, but many Westerners (myself included) know very little ...
How Macroeconomic Conditions Affect Stock Prices

How Macroeconomic Conditions Affect Stock Prices

John Cochrane of Stanford has written an excellent review of recent advances and future research directions in ...
Are US Industries Becoming More Concentrated?

Are US Industries Becoming More Concentrated?

Industry concentration has increased substantially in the US over the last two decades. But is this a problem? The ...