Now showing items 1-10 of 51

    • Recovering Conditional Return Distributions by Regression: Estimation and Applications 

      Liu, Fang (2014-12-01)
      I propose a regression approach to recovering the return distribution of an individual asset conditional on the return of an aggregate index based on their marginal distributions. This approach relies on the identifying ...
    • Do Individuals or Firms Matter More? The Case of Patent Generation 

      Liu, Tong; Mao, Yifei; Tian, Xuan (2016-04-01)
      This paper studies the relative importance of individual inventors’ human capital and firms’ organizational capital in promoting a firm’s innovation output. We decompose the variation in innovation output into inventor- ...
    • Politician’s Equity Holdings and Corporate Social Responsibility 

      Kim, Jonghwan Simon; Koo, Kwangjoo; Paz, Michael (2017-11-21)
      This study examines the relationship between politician’s equity holdings and the corporate social responsibility (CSR) performance of companies. Politician equity holdings reflect not only the self-interested investment ...
    • Is There Excess Comovement in the U.S. Real Estate Markets 

      Kallberg, Jarl; Liu, Crocker H.; Pasquariello, Paolo (2007-09-14)
      This study addresses the recent performance of the U.S. residential real estate market. We investigate the comovement among Case-Shiller Home Price Indices for 14 metropolitan areas from January 1987 to October 2006. We ...
    • The Real Estate Market in the Aftermath of September 11 

      Kallberg, Jarl; Liu, Crocker H.; Pasquariello, Paolo (2004-06-01)
      This study examines the reaction of the financial markets to the terrorist attack on the World Trade Center and how their behavior compared to the subsequent resolution in the corresponding real asset markets. This event ...
    • How Does Human Capital Matter? Evidence from Venture Capital 

      Gu, Lifeng; Huang, Ruidi; Mao, Yifei; Tian, Xuan (2017-12-01)
      We investigate the effects of human capital mobility on venture capital (VC) investment and outcomes. To establish causality, we use a difference-in-differences approach that relies on plausibly exogenous variations generated ...
    • Using Cash Flow Dynamics to Price Thinly Traded Assets 

      Boudry, Walter I.; Liu, Crocker H.; Mühlhofer, Tobias; Torous, Walter N. (2015-10-26)
      Are cash flows informative and predictive in valuing thinly traded assets? We investigate the extent to which cash-flow and discount-factor information plays a role in pricing thinly traded assets. We focus on pricing the ...
    • A Supply Chain Coordination Mechanism for Common Items Subject to Failure in the Electronics, Defense, and Medical Industries 

      Sher, Mikhail M.; Kim, Seung-Lae; Banerjee, Avijit; Paz, Michael (2017-05-01)
      Improved production processes, particularly miniaturization, have led to the development and use of non-reworkable items subject to failure in modern production environments. Coordinating supply chains for these items ...
    • Portfolio Allocations to Real Estate: Another Story 

      Corgel, John B.; deRoos, Jan A. (1994-12-01)
      Almost 25 years ago Friedman (1970) demonstrated that unsecuritized real estate, because of its relatively high risk-adjusted return and low correlations with stocks and bonds, receives substantial allocations in efficient, ...
    • Managing Innovation: The Role of Collateral 

      Mao, Yifei (2015-01-01)
      This paper studies how credit constraints impact the management of corporate innovation. Specifically, my experiment exploits exogenous variations in the collateral value of real estate assets as shocks to firms’ credit ...