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 bankrupt are indeed less important than deaths, but they still have human consequences....
View ArticleHow 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 Trump owning around 500 businesses (collectively known as the Trump Organization),...
View ArticleDo 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 discuss how 2 million UK households were sold payment protection insurance policies that...
View ArticleEvidence-Based Practice
What to Trust in a Post-Truth World. TED talk.Evaluating Research. A user’s guide to knowing what research we can trust. German translation.The Danger of Taking Evidence at Face Value. Economia...
View Article利益相关者资本主义可以从米尔顿·弗里德曼身上学到些什么
1958年，两位诺贝尔经济学奖获得者，弗兰科·莫迪利安尼（Franco Modigliani）默顿·米勒（Merton Miller）在合作发表的一篇文章中提出，在一定假设条件下 ，企业的价值与其资本结构并无关系。文章一发表即在当时引起了极大的争议。...
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