Itzhak Ben-David, the Neil Klatskin Chair in Finance and Real Estate at Fisher, and his colleagues provide new evidence on what policymakers often call carbon leakage – where firms from highly regulated home countries locate their carbon dioxide-intensive activities abroad in countries where environmental regulation is less strict.

The correlation between CEO turnover and gross domestic product is robust, and research from Assistant Professor of Finance Jack Liebersohn and his colleague, Heidi Packard, of the University of Michigan, demonstrates the relationship.

Researchers including Fisher's Itzhak Ben-David, the Neil Klatskin Chair in Finance and Real Estate, and René M. Stulz, the Everett D. Reese Chair of Banking and Monetary Economics, find that financially distressed banks don’t try to gamble their way out of trouble by making riskier loans or investments, but instead act to decrease their debt and raise additional equity. 

Itzhak Ben-David, the Neil Klatskin Chair in Finance and Real Estate at Fisher, and his colleague find that global emission levels are lower for countries with tighter domestic environmental regulations. However, companies with overseas facilities tend to emit more abroad, particularly in countries with laxer environmental standards.