labor supply in response to productivity shocks. Bank market integration thus contributes to a moderation of firm-level and …

supporting the shareholder-as-customer model. Bank values responded positively to the presence of large-block individual … concerned with dividend returns than access). Moreover, firm value declined as directors consumed larger fractions of a bank …'s loans, which reduced the bank's ability to extend credit to other shareholders …

We study information acquisition and dynamic withdrawal decisions when a spreading rumor exposes a solvent bank to a … run. Uncertainty about the bank's liquidity and potential failure motivates depositors who hear the rumor to acquire … additional noisy signals. Depositors with less informative signals may wait before gradually running on the bank, leading to an …

increases a bank's likelihood of providing a loan. Companies may benefit from these relationships through more favorable loan …

In recent years, assets of non-bank financial intermediaries (NBFIs) have grown significantly relative to those of …. We argue instead that NBFI and bank businesses and risks are so interwoven that they are better described as having … contingent liquidity risk from the provision of credit lines to NBFIs; and (iii) Empirical work confirms bank-NBFI linkages …

We study the transmission of monetary policy through bank securities portfolios using granular supervisory data on U ….S. bank securities, hedging positions, and corporate credit. Banks that experienced larger losses on their securities during …