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Essays On Race And Finance, Tian Qiu
Essays On Race And Finance, Tian Qiu
Theses and Dissertations--Finance and Quantitative Methods
In my first chapter, I show a positive municipal financing shock has heterogeneous effects on academic achievement. White students show meaningful improvement, but Black and Hispanic students do not. Consequently, the achievement racial gap widens following the shock. Changes in school funding do not explain this phenomenon; rather, it is explained by heterogeneous outcomes in household Socioeconomic Status (SES). These results highlight the possibility that a credit shock-induced increase in government spending could unexpectedly increase the local racial disparity. The second chapter examines the role of race and racial concordance between financial advisors and their local community. There are significant …
Essays On Financial Institutions And Advisors, Joseph D. Farizo
Essays On Financial Institutions And Advisors, Joseph D. Farizo
Theses and Dissertations--Finance and Quantitative Methods
In my first chapter, I examine how index funds vote their proxies on firms in its index that their family does not hold in its actively managed funds. For a given proxy proposal at a given point in time, I find that an index fund is more likely to oppose management on shares its family does not hold in its active funds than on shares its family does hold in its active funds. I further demonstrate that index fund governance has positive effects on the probability a proposal passes and on shareholder value. In my second chapter coauthored with Will …