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The Impact of the Dodd-Frank Act on Small Business
Bordo, Michael D. - 2018
There are concerns that the Dodd-Frank Act (DFA) has impeded small business lending. By increasing the fixed regulatory compliance requirements needed to make business loans and operate a bank, the DFA disproportionately reduced the incentives for all banks to make very modest loans and reduced...
Persistent link: https://www.econbiz.de/10012921541
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Capital-Market Effects of Securities Regulation : Prior Conditions, Implementation, and Enforcement
Christensen, Hans Bonde - 2011
We examine the capital-market effects of changes in securities regulation in the European Union (EU) aimed at reducing market abuse and increasing transparency. To estimate causal effects for the population of EU firms, we exploit that for plausibly exogenous reasons, like national legislative...
Persistent link: https://www.econbiz.de/10013130969
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Shareholder Democracy in Canada
Morck, Randall - 2010
The federal government stands poised to exercise its constitutional right to regulate financial markets, an area traditionally left to competing provincial securities commissions. The current state of securities regulation renders impotent US-style takeover defences, such as poison pills and...
Persistent link: https://www.econbiz.de/10013135809
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Accounting for the Rise in Consumer Bankruptcies
Livshits, Igor - 2010
Personal bankruptcies in the United States have increased dramatically, rising from 1.4 per thousand working age population in 1970 to 8.5 in 2002. We use a heterogeneous agent life-cycle model with competitive financial intermediaries who can observe households' earnings, age and current asset...
Persistent link: https://www.econbiz.de/10012759871
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Central Bank Transparency : Where, Why, and with What Effects?
Dincer, N. Nergiz - 2010
Greater transparency in central bank operations is the most dramatic change in the conduct of monetary policy in recent years. In this paper we present new information on its extent and effects. We show that the trend is general: a large number of central banks have moved in the direction of...
Persistent link: https://www.econbiz.de/10012760205
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Counterparty Risk and the Establishment of the New York Stock Exchange Clearinghouse
Bernstein, Asaf - 2014
Heightened counterparty risk during the recent financial crisis has raised questions about the role clearinghouses play in global financial stability. Empirical identification of the effect of centralized clearing on counterparty risk is challenging because of the co-incidence of macro-economic...
Persistent link: https://www.econbiz.de/10013047773
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The State of Corporate Governance Research
Bebchuk, Lucian A. - 2011
work on shareholders and shareholder activism, directors, executives and their compensation, controlling shareholders …
Persistent link: https://www.econbiz.de/10013134144
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Shareholder Trading Practices and Corporate Investment Horizons
Froot, Kenneth - 2012
an information ea between management and outside shareholders. In the presence of such a gap, maximizing short-run and … actions that will reduce long-run value. In such a case, management faces the dilemma of which shareholders to please: those …
Persistent link: https://www.econbiz.de/10013115409
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Estimating the Effects of Large Shareholders Using a Geographic Instrument
Becker, Bo - 2011
Large shareholders may play an important role for firm performance and policies, but identifying this empirically … to separate selection from treatment effects of large shareholders. Individual blockholders tend to hold blocks in public …. These shareholders have a large impact on firms, controlling for selection effects …
Persistent link: https://www.econbiz.de/10013120315
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Democratic Dividends : Stockholding, Wealth and Politics in New York, 1791-1826
Hilt, Eric - 2011
This paper analyzes the early history of corporate shareholding, and its relationship with political change. In the late eighteenth century, corporations were extremely rare and were dominated by elites, but in the early nineteenth century, after American politics became significantly more...
Persistent link: https://www.econbiz.de/10013123685