City of Angels

Prismatic Metropolis: Race and Residential Segregation in the City of the Angels

Most major urban areas remain segregated by race, especially in terms of black segregation from whites. We replicate and extend the innovative approach developed by Farley and colleagues for understanding processes of racial residential segregation with data collected in Los Angeles. Using a large (N = 4025) multiracial sample of adults, we examine (1) actual and perceived differences in econom...

Angels and Other Servants

In politics as in history, masters accomplish great things, but often, lowly beings such as servants perform those tasks. At times, they subvert them. In science, servant-beings are frequently described as demons and angels. Who are these effective agents? This essay traces parts of the large historical network of persons and places in which ‘little helpers’ service their master’s will. It look...

Angels Without Wings

Forced Selling of Fallen Angels

What happens when investment grade bonds are downgraded to junk status? The received wisdom is that these fallen angels are sold by fixed income investors who, by regulation, are prohibited from investing substantial portions of their portfolios in speculative grade paper. We investigate insurance company sales of bonds that were downgraded to junk in order to document the extent of forced sell...

Are Angels Preferred Venture Investors?

We examine the impact of business angels on 182 Series A financings and subsequent company outcomes. Our studied rounds have a varied mix of business angel and formal venture capital investors (VCs). We find that when only angels participate in a financing round and VCs are absent, control rights are more entrepreneur-friendly, legal expenses are lower, and investors are more geographically pro...