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Small businesses, which account for two-thirds of new jobs created in the United States, are the basis for innovation and crucial for economic growth. Raising capital for small businesses is important but not easy in a market with large information asymmetry and high search costs of potential investors. Regulators like the Securities and Exchange Commission […]

In 2019, 90% of S&P 500 firms published sustainability reports, up from only 20% in 2011. Pressure is mounting for companies worldwide to disclose Environmental, Social, and Governance (ESG) information. Investors like BlackRock are voting against companies such as the US oil giant ExxonMobil because of their insufficient progress on integrating climate risks into their business […]

Everyone should invest in stocks, at least a very small fraction of their wealth. This suggestion is probably one of the few consensuses that business school professors and economists share. Without digging into sophisticated economic models, one could easily see why by checking some stats. The average annual return in the US stock market in […]