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Finance

The Colorado River Is Overdrawn, and a Corporate Reckoning Is Imminent

For decades, the Colorado River has delivered less water than allocated, with shrinking reservoirs making up the difference. Yale SOM’s Todd Cort argues that companies across the West have yet to account for this imbalance.

An aerial view of Lake Powell with a low water level
  • Podcast
    Season 1
    Episode 2
    Duration 23:07

    How Finance Shapes Your World with Song Ma

    Finance isn’t just about making bets on stocks and bonds. It’s a technology that, at its best, opens up the world for commerce and discovery, and allows us to share risk and plan for the future. Prof. Song Ma, an expert in the economics of entrepreneurship, shares lessons from his course Finance and Society, which traces the innumerable ways finance powers modern life.

    Lessons from Yale SOM written on a chalkboard
  • Video: Can the Tools of Finance Help Combat Climate Change?

    Yale SOM’s Stefano Giglio, an expert on climate finance, explains what green investing can and can’t do to help speed the transition to a post-carbon economy.

    An illustration of an investor standing in a flooded street
  • Has Inflation Been Tamed?‌‌

    We asked Prof. William English to explain the Fed’s approach to interest rates and the potential consequences of tariffs and budget cuts. ‌‌

    Eggs for sale  in Monterey Park, California, in February. 
  • The Key Information Hiding Behind ‘Consensus’ Target Stock Prices‌

    Ordinary investors generally can only see an average of analysts’ target prices for a given stock. In a new study, Yale SOM’s Thomas Steffen and Frank Zhang find that when the degree of variation within that “consensus” figure is large, it’s a bad sign for future returns. ‌

    A target surrounded by darts
  • Small Changes, Big Results: Research-Backed Tips for Living a Good Life in 2025‌‌

    We asked Yale SOM faculty for their best tips on living happily, healthily, and productively in the new year.‌

    Ripples on water in the sun
  • Our Most-Read Stories of 2024

    This year, faculty and alumni experts helped us understand issues including the expanding role of AI in our society, the new space economy, the impact of gender in the workplace, the keys to financing a greener economy, and the psychological quirks that lead us toward irrational economic choices.

    A collage of artwork from multiple articles
  • Investors Care About ESG-Related News—When It Impacts Returns‌

    A new paper co-authored by Professor Edward Watts examines how retail investors weigh news about a public company’s environmental, social, and governance activity.

    A carbon removal plant in Reykjavik, Iceland
  • Settling the Debate on Whether Green Investing Pays ‌‌

    In a new study, Yale SOM’s Theis Jensen and his co-authors find that the return from green investments relative to brown ones is slightly negative—which is actually good news for the planet.

    A scale weighing climate-friendly investments against polluting ones
  • Swings in Building Permits Can Help Predict Financial Downturns‌

    Yale SOM’s Cameron LaPoint and his co-author painstakingly assembled a century of local building permits. Again and again, they found, peaks in the issuing of permits preceded periods of economic turmoil. ‌

    A home under construction in the Verona at Lake Las Vegas subdivision in Henderson, Nevada, in June 2024. 
  • Why It’s Harder for Women Founders to Get Venture Capital Funding

    A new study co-authored by Yale SOM’s Heather Tookes shows that women are less likely to get funding compared to men with similar entrepreneurial history. One reason is that investors who have experienced a poor outcome from a woman-led startup shy away from other women founders—but benefitting from successes of women founders doesn’t lead them to invest more.

    An illustration showing a male investor being raised up by hands and money, while a women investor is getting less