A deep look at how financial markets are designed

Financial markets are fast-moving, complex, and opaque. Even the U.S. stock market is fragmented into an array of competing exchanges and a set of proprietary "dark pools" run by financial firms. Meanwhile, high-frequency ...

Mutual funds with lower tax burdens have higher returns

After a wild couple of months of equity market volatility, many mutual fund investors are now cautiously exploring how best to rebalance their portfolios. As they do so, new research from the McCombs School of Business at ...

Research finds how much CEOs matter to firm performance

"Do CEOs matter?" has been a perennial question in management discourse. But "the CEO effect" has been notoriously difficult to isolate—a moving target caught in the slipstream of dynamic forces that shape firm performance.

How 'houses as ATMs' feed a recession

For most Americans, their home is their most valuable asset, so it makes sense to borrow against the equity to obtain cash. In lean times, that money can be spent on consumption, which keeps the economy humming along. But ...

Stock options worth more for women, senior managers, study finds

A novel new way of determining the value of employee stock options has yielded some surprising insights: Options granted to woman and senior managers are worth more because they hold them longer. And options that vest annually ...

Want to make money with stocks? Never listen to analysts

Investors probably expect that following the suggestions of stock analysts would make them better off than doing the exact opposite. Nevertheless, recent research by Nicola Gennaioli and colleagues shows that the best way ...

Study examines immigrants' influence on trade

A new study from The University of Texas at Dallas shows that firms are significantly more likely to trade with countries that have large resident populations living near the headquarters.

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