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Corporate Immunity to the Covid-19 Pandemic

Ding, Wenzhi; Levine, Ross; Lin, Chen; Xie, Wensi - 2021

Using data on over 6,000 firms across 56 economies during the first quarter of 2020, we evaluate the connection between corporate characteristics and stock price reactions to COVID-19 cases. We find that the pandemic-induced drop in stock prices was milder among firms with (a) stronger pre-2020...

Persistent link: https://www.econbiz.de/10013224962

Selection into Entrepreneurship and Self-Employment

Levine, Ross - 2018

differentiates between entrepreneurs and other self-employed to address puzzling gaps that have emerged between theory and evidence … on entry into entrepreneurship. The model predicts—and the data confirm—that entrepreneurs are positively selected on … highly-remunerated human capital, but other self-employed are negatively selected on those same abilities; entrepreneurs are …

Persistent link: https://www.econbiz.de/10012906767

Smart and Illicit : Who Becomes an Entrepreneur and Do They Earn More?

Levine, Ross - 2014

We disaggregate the self-employed into incorporated and unincorporated to distinguish between "entrepreneurs" and other … "illicit" tendencies as youths accounts for both entry into entrepreneurship and the comparative earnings of entrepreneurs. In … contrast to past research, we find that entrepreneurs earn more per hour and work more hours than their salaried and …

Persistent link: https://www.econbiz.de/10013063299

Racial Discrimination and Competition

Levine, Ross - 2014

This paper assesses the impact of competition on racial discrimination. The dismantling of inter- and intrastate bank restrictions by U.S. states from the mid-1970s to the mid-1990s reduced financial market imperfections, lowered entry barriers facing nonfinancial firms, and boosted the rate of...

Persistent link: https://www.econbiz.de/10012751333

Does Competition Affect Bank Risk?

Jiang, Liangliang - 2017

Although policymakers often discuss tradeoffs between bank competition and stability, past research provides differing theoretical perspectives and empirical results on the impact of competition on risk. In this paper, we employ a new approach for identifying exogenous changes in the competitive...

Persistent link: https://www.econbiz.de/10012964890

Spare Tire? Stock Markets, Banking Crises, and Economic Recoveries

Levine, Ross - 2015

Do stock markets act as a “spare tire” during banking crises, providing an alternative corporate financing channel and mitigating the economic severity of banking crises? Using firm-level data in 36 countries from 1990 through 2011, we find that the adverse consequences of banking crises on...

Persistent link: https://www.econbiz.de/10013030062

How Did Depositors Respond to Covid-19?

Levine, Ross; Lin, Chen; Tai, Mingzhu; Xie, Wensi - 2021

Why did banks experience massive deposit inflows during the first months of the pandemic? Using weekly branch-level data on interest rates and county-level data on COVID-19 cases, we discover that interest rates at bank branches in counties with higher COVID-19 infection rates fell by more than...

Persistent link: https://www.econbiz.de/10013225956

Social Distancing and Social Capital : Why U.S. Counties Respond Differently to Covid-19

Ding, Wenzhi - 2020

Since social distancing is the primary strategy for slowing the spread of many diseases, understanding why U.S. counties respond differently to COVID-19 is critical for designing effective public policies. Using daily data from about 45 million mobile phones to measure social distancing we...

Persistent link: https://www.econbiz.de/10012830484