“Institutional investors and corporate carbon footprint"

"Peer versus pure benchmarks in the compensation of mutual fund managers"

"Hedging Labor Income Risk over the Life-Cycle"

"Learning from Interest Rates: Implications for Stock-Market Efficiency"

"Pricing Sin Stocks: Ethical Preference vs. Risk Aversion"

"Does Bankruptcy Risk Increase Value?" Abstract We show that bankruptcy exposure increases ex-post average firm value due to a survivorship bias. The reason is that bankruptcy cancels rms with the lowest realized cash ows from databases. Such bias gives rise to known pricing puzzles. It generates a discount on diversified companies when diversification helps their survival. Moreover, it…