Shows theoretically and empirically how financial constraints affect hedging/risk sharing in a cap and trade system like the EU ETS. 

After being exposed to scandals in their portfolios, active mutual funds (but not passive ones) are both more likely to vote in favor of oversight-related shareholder proposals and to reduce their stakes (and thus their votes) in high-scandal risk stocks, suggesting they prioritize managing reputation risk over impact. 

Google searches for sport proxy for investors' inattention to the stock market. In an international sample of 36 countries, they correlate negatively with trading activity and idiosyncratic volatility.