Geng Niu, Xuefeng Xiang, Liuming Yang, and Yang Zhou ♦ Housing and human capital represent two major forms of household wealth. This paper investigates the potential for housing speculation to crowd out household investment in children’s education, an endeavor that…
Di Bu, Matti Keloharju, Yin Liao, and Steven Ongena ♦ How do bankers treat green firms? Using unique loan application and banker preference data from a mid-sized bank, we find that customer managers, serving as front-line bankers, give more favorable…
Leonce Bargeron and David J. Denis ♦ We find that CEO compensation increases following acquisitions only in those deals in which acquirer stock is used as the method of payment. These compensation increases are driven by increases in equity-based compensation,…
Nasim Sabah and Michael Zheng ♦ This study highlights a channel through which labor markets foster firm growth: the occupational alignment between an establishment’s workforce and local skills. Using occupational employment data, we construct an index comparing each establishment’s occupational…
Shahram Amini, Andrew MacKinlay, Johan Sulaeman, and Chishen Wei ♦ We show that the decision to go public is influenced by spatial variation in the supply of equity financing. We measure the amount of capital of equity investors in each…
Guillaume Vuillemey ♦ I show that home ownership decisions across countries and individuals are shaped by a cultural heritage from agriculture. For centuries, dominant assets in preindustrial economies were either land or cattle. Consequently, the type of farming prevailing locally…
