Our forthcoming paper in the Review of Quantitative Finance and Accounting examines the effects CEO conservatism has on decision making during the Great Financial Crisis. My co-authors and I find that ideologically conservative CEO’s of credit unions perceived the crisis to be worse than their counterparts and as a result made more conservative accounting decisions in their provisions for loan losses. The consequence of which is lower returns during the crisis. LEARN MORE
This working paper with Chih Ming Tan examines how changes to credit via federal student loans influence borrowing, the composition of credit, and student outcomes among freshmen. We find that increasing access to credit does not necessarily improve student outcomes.
My paper forthcoming in Business & Society examines the effect a board of directors governed by a majority of racial minority directors has on mortgage lending decisions of credit unions. A majority-minority board reduces the effects of discrimination on lending to minorities by more than one-third. This effect is even stronger among more racially homophilous pairings, as credit unions governed by Hispanic boards reduce the effects of discrimination on lending to Hispanic applicants by nearly two-thirds.