The pricing of foreign exchange and the unique role of US Dollar risk
by Brandon A. McBride, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Trading in over-the-counter foreign exchange (FX) markets reached $7.5 trillion per day in April 2022 across all FX instruments (BIS, 2022), making it…
Corporate social responsibility committee: international evidence
by Yuxia Zou, Winner of the Cambridge Finance Best Student Paper Award 2022, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Yuxia Zou During the past few decades, corporate social responsibility (CSR) issues have attracted…
Portfolio selection, periodic evaluations and risk taking
by Dr Alex Tse, former Research Associate at Cambridge Endowment for Research in Finance and winner of the CERF Alumni Association (CERFAS) Best Paper Award Alex Tse Portfolio managers in real life can be selfish, where they care about their…
Resuscitating the London Stock Exchange
by Dr Bobby Reddy, Fellow, Cambridge Endowment for Research in Finance Whichever way you look at it, the London Stock Exchange is in secular decline. The number of companies listed on the exchange's Main Market has fallen from over 4,400…
Gambling for redemption or ripoff?
by Dr Xinyu Hou, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance In the early days of Federal Express, the company once was down to $5,000 in its checking account, not able to cover the…
The downside risk channel of monetary policy
by Niklas Schmitz, Winner of the Cambridge Finance Best Student Paper Award 2022, PhD Student, Faculty of Economics, University of Cambridge During recessions, central banks play a key role to support the economy. They are often concerned with avoiding bad…
Can members with heterogeneous preferences achieve their first-best within a group?
by Dr Shiqi Chen, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance One standard assumption of the existing corporate finance literature is firms' policies are set to maximise total shareholders' value, irrespective of individual stockholders'…
Strategic voting and shareholder voting
by Professor Adam Meirowitz, Yale University and Dr Shaoting Pi, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance Starting with Marquis de Condorcet (1785), a large literature seeks to understand voting in settings where agents…
Institutional investor monitoring and earnings management: a network approach
by Dr Marwin Mönkemeyer, Visiting Associate at Cambridge Endowment for Research in Finance, University of Cambridge Judge Business School Ever since Berle and Means' (1932) seminal work on the separation of ownership and control in modern firms, scholars have debated…
Voting for socially responsible corporate policies
by Professor Adam Meirowitz, David Eccles School of Business, University of Utah, Dr Shaoting Pi, Research Associate, Cambridge Centre for Finance and Cambridge Endowment for Research in Finance, University of Cambridge, and Dr Matthew C. Ringgenberg, David Eccles School of…
