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The Tokenomics of Staking

Zhiheng He,Ke Tang, Lin William Cong (叢林)   Dec 30,2023

Working Paper No.00134-00

Blockchain-based platforms and decentralized finance prominently features ``staking'': Besides offering a convenience yield for transactions as digital media of exchange,... Read More

Market Integration, Risk-Taking, and Income Inequality

Ron Kaniel , Yizhou Xiao Lin William Cong (叢林)   Dec 30,2023

Working Paper No.00136-00

A pandemic or nationalism can dial back global integration as much as advancements in IT and transportation spur it. We... Read More

Market Integration, Risk-Taking, and Income Inequality

Ron Kaniel , Yizhou Xiao Lin William Cong (叢林)   Dec 30,2023

Working Paper No.00136-00

A pandemic or nationalism can dial back global integration as much as advancements in IT and transportation spur it. We... Read More

Market Integration, Risk-Taking, and Income Inequality

Ron Kaniel , Yizhou Xiao Lin William Cong (叢林)   Dec 30,2023

Working Paper No.00136-00

A pandemic or nationalism can dial back global integration as much as advancements in IT and transportation spur it. We... Read More

Market Integration, Risk-Taking, and Income Inequality

Ron Kaniel , Yizhou Xiao Lin William Cong (叢林)   Dec 30,2023

Working Paper No.00136-00

A pandemic or nationalism can dial back global integration as much as advancements in IT and transportation spur it. We... Read More

Market Integration, Risk-Taking, and Income Inequality

Ron Kaniel , Yizhou Xiao Lin William Cong (叢林)   Dec 30,2023

Working Paper No.00136-00

A pandemic or nationalism can dial back global integration as much as advancements in IT and transportation spur it. We... Read More

Market Integration, Risk-Taking, and Income Inequality

Ron Kaniel , Yizhou Xiao Lin William Cong (叢林)   Dec 30,2023

Working Paper No.00136-00

A pandemic or nationalism can dial back global integration as much as advancements in IT and transportation spur it. We... Read More

The Short-Termism Trap: Catering to Informed Investors with Limited Horizons

James Dow , Jungsuk Han Francesco Sangiorgi   Dec 15,2023

Working Paper No.00132-00

Does the stock market exert short-term pressure on listed firms, do they respond, and is this response value reducing? We... Read More

Published: Journal of Financial Economics, 2024, (), -

The Short-Termism Trap: Catering to Informed Investors with Limited Horizons

James Dow , Jungsuk Han Francesco Sangiorgi   Dec 15,2023

Working Paper No.00132-00

Does the stock market exert short-term pressure on listed firms, do they respond, and is this response value reducing? We... Read More

Published: Journal of Financial Economics, 2024, (), -

Intermediation via Credit Chains

Jian Li. , Zhiguo He   Jun 03,2022

Working Paper No.00078-00

The modern financial system features complicated financial intermediation chains, with each layer performing a certain degree of credit/maturity transformation. We... Read More