This wasn't approved by anyone in particular. SSRN is a preprint archive, like arXiv.org, where anyone can upload their work. Some of the work published there has also published in peer-reviewed venues, some hasn't. This particular paper hasn't been; the 2nd author's CV lists it as one of four "work-in-progress" drafts she currently has circulating for comments, before presumably revising it, and submitting it to a journal sometime in the future.