… In our panel of firms, we use a pooled OLS regression to estimate the following equation:(1)
K L D S c o r e i , t = α + β P o l i t i c a l E n v i r o n m e n t i , t + δ X i , t + I n d u s t r y D u m m …

Using data on the political contributions and stock holdings of US investment managers, we
find that mutual fund managers who make campaign donations to Democrats hold less of …

We analyze a dataset of 2390 completed ICOs, which raised a total of $12 billion in capital,
nearly all since January 2017. We find evidence of significant ICO underpricing, with average …

Exchange-traded funds have proliferated in the last five years, but have not yet received
much attention in the academic literature. The author explains the major differences between …

This paper examines how political connections affect risk exposure of financial institutions.
Using a geography-based measure, I find that politically connected firms have higher …

I provide a measure for the value that investors place on trust and relationships in asset
management by examining mutual fund flows around announced changes in the ownership of …

… This paper was written while Kostovetsky was at the University of Rochester. … We use a
hand-gathered data set for manager characteristics such as age and education (see Kostovetsky (…

We study innovation and product differentiation using a uniqueness measure based on textual
analysis of prospectuses. We find that small and start‐up families have higher start rates …

We investigate how institutional ownership affects the diffusion of innovation. We find that a
higher intensity of patent citations among firms that share institutional owners. We address …

I investigate the effect of labor market competition from hedge funds on the mutual fund
industry. I find evidence of an increasing flight of top-performing young managers from mutual …