Credit culture and CEO traits

My forthcoming paper in Business & Society examines whether a credit union CEO’s gender and political ideology influence their firm’s lending decisions. I find that credit unions led by conservative or female CEOs display similar risk aversion yet differ in their social preferences toward lending to black applicants.

More Credit, More Problems?

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.

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Board diversity and lending decisions

My paper 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.

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