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Government Guarantees and Bank Vulnerability during a Crisis : Evidence from an Emerging Market

Acharya, Viral V. - 2019

We analyze the performance of Indian banks during 2007-09 relative to their vulnerability to a crisis measured using pre-crisis data, in order to study the impact of government guarantees on bank performance during a crisis. Using bank branch-level regulatory data, we exploit geographic...

Persistent link: https://www.econbiz.de/10012480508

The Persistence of Miscalibration

Boutros, Michael - 2020

Using 14,800 forecasts of one-year S&P 500 returns made by Chief Financial Officers over a 12-year period, we track the individual executives who provide multiple forecasts to study how their beliefs evolve dynamically. While CFOs' return forecasts are systematically unbiased, their confidence...

Persistent link: https://www.econbiz.de/10012482230

Leadership, Coordination and Mission-Driven Management

Bolton, Patrick - 2008

What makes a good leader? A good leader is able to coordinate his followers around a credible mission statement, which communicates the future course of action of the organization. In practice, leaders learn about the best course of action for the organization over time. While learning helps...

Persistent link: https://www.econbiz.de/10012464309

Managerial Overconfidence and Corporate Policies

Ben-David, Itzhak - 2007

Miscalibration is a standard measure of overconfidence in both psychology and economics. Although it is often used in lab experiments, there is scarcity of evidence about its effects in practice. We test whether top corporate executives are miscalibrated, and whether their miscalibration impacts...

Persistent link: https://www.econbiz.de/10012464935

How much do firms pay as bribes and what benefits do they get? Evidence from corruption cases worldwide

Cheung, Yan Leung - 2012

We analyze a hand-collected sample of 166 prominent bribery cases, involving 107 publicly listed firms from 20 stock markets that have been reported to have bribed government officials in 52 countries worldwide during 1971-2007. We focus on the initial date of award of the contract for which the...

Persistent link: https://www.econbiz.de/10012460678

Multi-product Firms and Product Turnover in the Developing World : Evidence from India

Goldberg, Pinelopi K. - 2008

detailed firm-level data from India, we provide the first evidence on the patterns of multi-product firm production in a large …-section, multi-product firms in India look remarkably similar to their U.S. counterparts, confirming the predictions of recent … churning--particularly product rationalization -- is far less common in India. We thus find little evidence of "creative …

Persistent link: https://www.econbiz.de/10012464518

Adjustment of State Owned and Foreign-Funded Enterprises in China to Economic Reforms,1980s-2007 : a logistic smooth transition regression (LSTR) approach

Aizenman, Joshua - 2009

This paper applies a logistic smooth transition regression approach to the estimation of a homogenous aggregate value added production function of the State Owned (SOE) and Foreign-Funded Enterprises (FFE) in China, 1980s-2007. The transition associated with the economic reforms in China is...

Persistent link: https://www.econbiz.de/10012463377

Industry Evolution and Transition : A Neoclassical Benchmark

Atkeson, Andrew - 1997

Recently, a large number of countries have undertaken major reforms that have led to a large increase in the number of new enterprises. After these reforms, however, it has taken a number of years before output and productivity have begun to grow. The thesis of this paper is that the process of...

Persistent link: https://www.econbiz.de/10012472813

Foreign Ownership and Firm Performance : Emerging-Market Acquisitions in the United States

Chari, Anusha - 2009

This paper examines the recent upsurge in foreign acquisitions of U.S. firms, specifically focusing on acquisitions made by firms located in emerging markets. Neoclassical theory predicts that, on net, capital should flow from countries that are capital-abundant to countries that are...

Persistent link: https://www.econbiz.de/10012463861

Globalization and innovation in emerging markets

Gorodnichenko, Yuriy - 2008

Globalization brings opportunities and pressures for domestic firms in emerging markets to innovate and improve their competitive position. Using data on firms in 27 emerging market economies, we estimate the effects of foreign competition, vertical linkages with foreign firms, and international...

Persistent link: https://www.econbiz.de/10012464166

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