Recent research by Pablo Slutzky from the University of Maryland's Robert H. Smith School of Business suggests that targeted credit rationing by banks, akin to Operation Choke Point, fails to significantly impact firms' operations, raising questions about the effectiveness of ESG strategies in curbing controversial practices.

The Italian Mafia is synonymous with organized crime and some of the country’s most powerful groups wield fearsome power across the world. Their strongholds start at the municipal level. Pablo Slutzky, a finance assistant professor at the Smith School of Business, studies how the mafia’s presence impacts local economies.

You'd think the world’s major multinational, publicly traded firms might have an advantage across the developing world over privately owned rivals. Not so, according to new research. And the reason why is a bit surprising.