reduces banks’ incentive to build precautionary capital buffers. A key implication is that the effects of competition on risk …

that are not cross-listed. We derive proxies for corporate opaqueness from analyst earnings forecasts. Our findings suggest … industries. We complement our analysis with a textual analysis of corporate annual reports in order to shed light on how SOX may …

The paper studies risk mitigation associated with capital regulation, in a context when banks may choose tail risk … assets. We show that this undermines the traditional result that higher capital reduces excess risk-taking driven by limited … liability. When capital raising is costly, poorly capitalized banks may limit risk to avoid breaching the minimal capital ratio …

This article investigates empirically whether and to what extent initial capital constraints hinder entrepreneurial …—to measure the influence of capital constraints more directly. The authors find that initial capital constraints during the start …