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Banking The Poor: Policies To Bring Low-Income Americans Into The Financial Mainstream, Michael S. Barr
Banking The Poor: Policies To Bring Low-Income Americans Into The Financial Mainstream, Michael S. Barr
Law & Economics Working Papers Archive: 2003-2009
Low-income households in the United States often lack access to bank accounts and face high costs for conducting basic financial transactions through check cashers and other alternative financial service providers. These families find it more difficult to save and plan financially for the future. Living paycheck to paycheck leaves them vulnerable to medical or job emergencies that may endanger their financial stability, and lack of longer-term savings undermines their ability to improve skills, purchase a home, or send their children to college. High-cost financial services and inadequate access to bank accounts may undermine widely-shared societal goals of reducing poverty, moving …
Banking The Poor, Michael S. Barr
Banking The Poor, Michael S. Barr
Law & Economics Working Papers Archive: 2003-2009
Low-income households often lack access to banking accounts and face high costs for transacting basic financial services through check cashers and other alternative financial service providers. These families find it more difficult to save and plan financially for the future. Living paycheck to paycheck leaves them vulnerable to medical or job emergencies that may endanger their financial stability, and lack of longer-term savings undermines their ability to improve skills, purchase a home, or send their children to college. Additionally, high cost financial services and inadequate access to bank accounts may undermine widely-shared societal goals of reducing poverty, moving families from …
A Comparative Empirical Investigation Of Agency And Market Theories Of Insider Trading, Laura N. Beny
A Comparative Empirical Investigation Of Agency And Market Theories Of Insider Trading, Laura N. Beny
Law & Economics Working Papers Archive: 2003-2009
The paper summarizes various agency cost and market theories of insider trading propounded over the course of the perennial law and economics debate over insider trading. The paper then suggests three testable hypotheses regarding the relationship between insider trading laws and several measures of financial performance. Using international data and alternative regression specifications, the paper finds that more stringent insider trading laws and enforcement are generally associated with greater ownership dispersion, greater stock price accuracy and greater stock market liquidity. This set of findings provides empirical support to theoretical arguments in favor of more stringent insider trading legislation and enforcement.