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Taking the Lord's name in vain : the impact of connected directors on 19th Century British banks
Grossman, Richard S.; Imai, Masami - 2014
investigate whether the appointment of well-connected directors enhanced equity value for bank shareholders. Our analysis of panel … data shows that the appointment of connected directors did not increase the rate of return on bank equity. In fact, we find … that the appointment of MPs to directorships had negative effects on bank equity returns. Our event-study analysis …
Persistent link: https://www.econbiz.de/10010465141
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Large Banks and Small Firm Lending
Bord, Vitaly M. - 2018
We show that since 2007, there was a large and persistent shift in the composition of lenders to small firms. Large banks impacted by the real estate prices collapse systematically contracted their credit to all small firms throughout the U.S.. However, healthy banks expanded their operations...
Persistent link: https://www.econbiz.de/10012480836
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Does Macro-Pru Leak? Evidence from a UK Policy Experiment
Aiyar, Shekhar - 2012
The regulation of bank capital as a means of smoothing the credit cycle is a central element of forthcoming macro …--on both questions, using a unique dataset. In the UK, regulators have imposed time-varying, bank-specific minimum capital …
Persistent link: https://www.econbiz.de/10012460836
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Price Discrimination and Mortgage Choice
Coen, Jamie; Kashyap, Anil K.; Rostom, May - National Bureau of Economic Research - 2023
We characterize the large number of mortgage offers for which people qualify in the United Kingdom. Very few pick the cheapest option, nonetheless the one selected is not usually noticeably more expensive. A few borrowers make very expensive choices. These are most common when the menu they face...
Persistent link: https://www.econbiz.de/10014372409
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Contractual and organizational structure with reciprocal agents
Englmaier, Florian (contributor);  … - 2008
Empirically, compensation systems generate substantial effort despite weak monetary incentives. We consider reciprocal motivations as a source of incentives. We solve for the optimal contract in the basic principal-agent problem and show that reciprocal motivations and explicit performance-based...
Persistent link: https://www.econbiz.de/10003763282
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Noblesse oblige? : determinants of survival in a life and death situation
Frey, Bruno S. (contributor); Savage, David A. (contributor) - 2008
This paper explored the determinants of survival in a life and death situation created by an external and unpredictable shock. We are interested to see whether pro-social behaviour matters in such extreme situations. We therefore focus on the sinking of the RMS Titanic as a quasi-natural...
Persistent link: https://www.econbiz.de/10003771813
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Why go to France or Germany, if you could as well go to the UK or the US? : selective features of immigration to four major OECD countries
Geis, Wido (contributor); Uebelmesser, Silke (contributor);  … - 2008
Building on a new data set which is combined from national micro-data bases, we highlight differences in the structure of migrants to four countries, viz. France, Germany, the UK and the US, which receive a substantial share of all immigrants to the OECD world. Looking at immigrants by source...
Persistent link: https://www.econbiz.de/10003771831
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Bank of England interest rate announcements and the foreign exchange market
Melvin, Michael; Saborowski, Christian; Sager, Michael; … - 2009
Since 1997, the Bank of England Monetary Policy Committee (MPC) has met monthly to set the UK policy interest rate. We …
Persistent link: https://www.econbiz.de/10003831967
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How do migrants choose their destination country? : an analysis of institutional determinants
Geis, Wido; Übelmesser, Silke; Werding, Martin - 2008
For a long time, migration has been subject to intensive economic research. Nevertheless, empirical evidence regarding the determinants of migration still appears to be incomplete. In this paper, we analyze the effects of socio-economic and institutional determinants, especially labor-market...
Persistent link: https://www.econbiz.de/10003805994
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Surviving the Titanic disaster : economic, natural and social determinants
Frey, Bruno S.; Savage, David A.; Torgler, Benno - 2009
The sinking of the Titanic in April 1912 took the lives of 68 percent of the people aboard. Who survived? It was women and children who had a higher probability of being saved, not men. Likewise, people traveling in first class had a better chance of survival than those in second and third...
Persistent link: https://www.econbiz.de/10003808139