Finance and Financial Management Commons^™

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 …