Jesse A. Ellis, David G. Kenchington, Jared D. Smith, and Roger M. White ♦ The growing popularity of home-sharing platforms such as Airbnb, partly fueled by hosts’ ability to evade local taxes and regulations, has been shown to elevate housing…
Felix von Meyerinck, Vesa Pursiainen, and Markus Schmid ♦ We study the role of competition in customers’ reactions to litigation against firms, using anonymized mobile phone location data. A class action lawsuit filing is followed by a 4% average reduction…
Rustam Abuzov ♦ This paper studies the impact of limited attention on investment decisions by venture capitalists (VCs). I find that startups funded by VCs during VCs’ IPO engagements tend to underperform: these startups are 9% less likely to go…
Po-Hsuan Hsu, Kyungran Lee, S. Katie Moon, and Seungjoon Oh ♦ We document significant increases in the suspension of ongoing drug projects following the passage of the Food and Drug Administration Amendments Act of 2007 (FDAAA), which mandates that pharmaceutical…
Jun Aoyagi ♦ The dissemination of public information regarding an asset’s fundamental value can encourage acquisition of private information by informed traders, leading to a crowding-in effect. Competing with the crowding-out effect analyzed in prior research, the crowding-in effect shapes…
Christian Kubitza ♦ Financial losses can have persistent effects on the financial system. This paper proposes an empirical measure for the duration of these effects, Spillover Persistence. I document that Spillover Persistence is strongly correlated with financial conditions; during banking crises,…
