Finance – Knowledge@Wharton: Recent Episodes
Knowledge@Wharton is the online business analysis journal of the Wharton School of the University of Pennsylvania.
Wharton’s Kevin Werbach explains why the Biden administration’s executive order to develop a national policy on cryptocurrency is an important step forward.
Economic sanctions against Russia have cratered the ruble and caused product shortages. Massive job losses could be next, explains Wharton finance professor Nikolai Roussanov.
The demand for office space is unlikely to rebound to pre-COVID levels because workers want flexibility, says Wharton real estate professor Joseph Gyourko.
Russia’s invasion of Ukraine has led to a surge in oil prices. New research co-authored by Wharton’s Gideon Bornstein shows that shale oil drilling reduces the long-run volatility of oil prices and world oil production.
Consumer foot traffic rises with earnings releases, according to recent research by Wharton’s Christina Zhu.
New research co-authored by Wharton’s Tim Landvoigt helps determine the “austerity thresholds” for government borrowing that would trigger tax increases.
In new research, Wharton’s Urban Jermann detects a floor price for gold and develops a refined model to predict its future prices.
In a recent LinkedIn Live panel titled “Investing in a High Inflation World,” Wharton finance faculty weighed the likely outcomes of the U.S. Federal Reserve’s attempts to fight inflation.
New research co-authored by Wharton’s Michael Schwert argues for state support in climate change remediation for coastal communities.
Low interest rates and work-from-home trends bode well this year for home building and prices, but much depends on how the Federal Reserve responds to rising inflation, says Wharton’s Susan Wachter.
Intense competition for investor flows drives managers of laggard mutual funds towards overvalued risky stocks, recent research finds.
Stock prices will keep climbing this year but slow their pace, and interest rate increases are overdue, says Wharton’s Jeremy Siegel.
Investors in 2022 will have a wider range of options beyond the stock market, says Wharton’s Itay Goldstein.
A new study co-authored by Wharton’s Benjamin Keys captures the extent to which homeowners resist putting up their homes as security and looks at the impact on borrowers and lenders.
Fintech lenders are more likely to approve loans to borrowers who have adopted cashless payments, according to recent research co-authored by Wharton’s Yao Zeng.
New research co-authored by Wharton’s Sean Myers helps refine investment models to account for mistakes in cash flow expectations while discount rates stay flat.
Investors who espouse environmental, social and governance (ESG) principles will achieve little by selling their shares in so-called "dirty" companies, according to new research co-authored by Wharton's Jules H. van Binsbergen.
Risk appetites have increased among U.S. banks that dispensed money to pandemic-hit small businesses under the government’s Paycheck Protection Program, a new study has found.
Wharton's Daniel Taylor believes legislative changes are needed to get insider trading under control and reform Wall Street’s image.
Wharton’s Benjamin Keys explains why the red-hot U.S. real estate market isn’t a bubble that’s ready to burst. Home prices are likely to stay high for years to come.
The regulator must focus on cash-flow impacts and not societal goals, according to a new statement by the Financial Economists Roundtable, a worldwide group of 50 senior financial economists including Wharton professors.
Wharton’s Michael R. Roberts argues in this opinion piece that a basic understanding of finance will help students and their parents avoid making disastrous decisions, such as taking on excessive student loans.
Firms must weigh the health outcomes of work-related stress in designing incentives, says Wharton’s Marius Guenzel.
New research from Wharton’s Sasha Indarte shows the role that bias plays in bankruptcy and the racial wealth gap in the U.S.
Federal Reserve Chairman Jerome Powell sent “three significant messages” on the U.S. economic outlook in his address last month in Jackson Hole, Wyoming, according to Wharton’s Christina Parajon Skinner.
Inflation-driven higher interest rates will have varying effects on banks’ resilience, says Wharton’s Itay Goldstein.
Government interventions in private debt negotiations could be more effective in preventing default waves if they accounted for the connections between lenders and borrowers across the “debt chain,” new research shows.
Familiar hedging options like commodities are no longer safe havens against core inflation, according to new research co-authored by Wharton's Nikolai Roussanov.
Small investors are reacting to both positive and negative earnings surprises by lifting stock prices, a Wharton study of Robinhood trades reveals.
Companies are increasingly adopting measures to prevent insider trading abuses and the resulting legal and reputation risks, a new study finds.
Structural racism, the pandemic, and other economic barriers are stopping many Black and Hispanic homeowners from taking advantage of low interest rates, says Wharton’s Benjamin Keys.
Investors lured by the strong performance of ESG funds may face future disappointment, warns a new research paper co-authored by Wharton’s Luke Taylor.
Coordination among countries will be critical to ensure that some don’t undercut the G7 nations’ proposed 15% minimum corporate tax, say Wharton experts.
Decentralized finance -- or DeFi -- has experienced explosive growth in the past year. But in order for DeFi to fulfill its promise, “now is the time to evaluate its benefits and dangers,” write Kevin Werbach and David Gogel.
The latest rise in the inflation rate to 4.2% for April has fueled expectations that the Federal Reserve could raise interest rates and tighten monetary policy – but that will depend on whether this is a temporary change, says Wharton’s Itay Goldstein.
Pension funds could be a formidable force in getting companies to embrace ESG values. Yet they must align those goals with their fiduciary duty of protecting the retirement funds of their members, according to panelists at a recent Wharton conference.
When venture capital firms own equity in competing startups, they can improve innovation efficiency by withholding funding from those that are lagging, a recent study co-authored by Wharton’s Luke Taylor shows.
Many young private companies would prefer to merge with a SPAC -- or special purpose acquisition company -- rather than undertake an IPO. But increased regulatory scrutiny and other factors could temper the market, Wharton experts say.
Measures that protect investors and weed out bad actors will boost confidence in cryptocurrencies and help the industry to grow, according to Wharton’s Brian Feinstein and Kevin Werbach.
A new study co-authored by Wharton’s Daniel Taylor finds evidence of insider trading abuses by company executives and urges tighter rules for disclosures and longer cooling-off periods.
A new study that finds older Americans are struggling with debt underscores the importance of financial literacy, says Wharton’s Olivia S. Mitchell.
Wharton finance professor Michael R. Roberts explains the value of shopping for a mortgage and clarifies the trade-offs homebuyers need to weigh when there is no obvious choice.
Wharton finance professor Michael R. Roberts explains why some homeowners should consider investing any extra money they have rather than using it to make additional mortgage payments.
College enrollment by low-income students hinges more on college preparedness than on financial constraints, new Wharton research finds.
Regulators looking to prevent stock price manipulation must not harm the price discovery process that indexers depend on, says Wharton’s David Musto in an interview with Wharton Business Daily on SiriusXM.
CEOs often have a tailwind of strong performance and are expected to be more rational and objective than others. However, they are equally vulnerable to biases, according to new research co-authored by Wharton’s Marius Guenzel.
Policymakers are exploring every option to get money in the hands of people to help them cope during the pandemic. But premature, penalty-free withdrawals from retirement accounts could prove too costly down the road, says Wharton’s Olivia S. Mitchell.
During a recent Leading Diversity@Wharton event, Wharton’s Stephanie Creary spoke with venture capital experts about the funding gap faced by minority and female founders.
Coordinated attacks on a stock could impair a firm’s ability to raise capital and lower its valuation, says Wharton’s Itay Goldstein.
The Biden relief package leaves little headroom for economic growth and job gains, according to the Penn Wharton Budget Model.
Regulators have no clear options in controlling social media-led speculation in stock prices, say Wharton experts.
President-elect Joe Biden’s proposed stimulus package is comprehensive and will likely help to move the economy forward, but direct payments could be better targeted to those in need, say Wharton experts.
In this opinion piece, David Erickson explores how the market for special purpose acquisition companies (SPACs) exploded in 2020 and what may happen in the future.
U.S. President-elect Joe Biden’s promise to forgive student debt might have the unintended consequence of worsening economic inequality, according to new research co-authored by Wharton’s Sylvain Catherine.
While DoorDash and Airbnb successfully completed their much-anticipated IPOs this past week, there has been a lot of scrutiny on how they were priced and subsequently “popped.” Wharton’s David Erickson explains what could be done to remedy the disconnect.
Headlines about India’s encouraging economic indicators mask the ground realities, according to new research co-authored by Wharton’s Heather Schofield.