Michael-Paul James

return predictability discount rate news cash flow news randomized control trial csr loss reserves tax cuts and jobs act opportunity zones false discovery proportion false discovery rate family-wise error rate p-values business combination laws regulation sho multiple hypothesis testing multiple testing correction regression discontinuity desig iv regression staggered introductions sustainable development sri social investing responsible investments quasi-natural experiment esg corporate social bond decomposition beta decomposition residual news residual beta decomposition theoretical restrictions stock returns out-of-sample performance mean-variance investors intertemporal capm capm icapm linkage rauch classification production networks idiosyncratic shocks input specificity russell 2000 russell 1000 passive ownership passive investors mutual funds regression discontinuity corporate policy corporate behavior illiquidity shadow price of liquidity liquidity constraints. illiquid versus liquid assets portfolio choice costly contracting hypothesis irrelevance hypothesis bondholder-stockholder conflict conflict of interest bond covenants financial contracting forecastability dividend growth dividend yields long-horizon regressions asset bubbles log-linear return security analyst earnings forecasts independence rational information tradeoffs competition difference in difference privacy-service tradeoff social image hedonic reputation theory instrumental reputation theory vietnamese bank social collateral strategic default banking inefficient legal enforcement financial distress costs repayment incentives cumulative abnormal returns lobbying impact csr rating environmental lawsuits corporate social responsibility lobbying financial distress bankruptcy liquidation value asset redeployability capital structure property–liability insurance audit committee characteristics reserve management kfs error loss reserve property–liability insurer economic impacts first patent value of the patent startups exogenous variation patent managerial power theory optimal contracting theory ceo performance relative performance evaluation ceo compensation adverse selection agency theory ownership structure risk mutual stock market insurance captives tax deduction finance competitive environment vrin business strategies competitive advantage external and internal environment process evaluation formative evaluation mechanism mapping external validity local average treatment effects oz qof qualified opportunity fund public policy framing issue identification problem definition bureaucratic coping strategies bureaucracy policy implementation street-level bureaucrats lipsky professional development linkedin social media strategy social media marketing social media event lighting nightclub entertainment technology lighting design light comprehensive planning intevia plan of ensanche ildefons cerdà