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Competition and Bank Opacity
Jiang, Liangliang - 2014
competition reduces bank opacity, enhancing the ability of markets and regulators to monitor banks …
Persistent link: https://www.econbiz.de/10013039766
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The Cost of Banking Regulation
Guiso, Luigi - 2010
We use exogenous variation in the degree of restrictions to bank competition across Italian provinces to study both the … effects of bank regulation and the impact of deregulation. We find that where entry was more restricted the cost of credit was … increase in bad loans. In provinces where restrictions to bank competition were most severe, the proportion of bad loans after …
Persistent link: https://www.econbiz.de/10012760665
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How Do Banks Set Interest Rates?
Gambacorta, Leonardo - 2021
disentangle loan supply from loan demand shift in the bank lending channel' literature. The results, derived from a sample of … the literature for Italy, interest rates on shortterm lending of liquid and well-capitalized banks react less to a … in the pass-through on the interest rate on current accounts depends mainly on banks' liability structure. Bank's size is …
Persistent link: https://www.econbiz.de/10013246682
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Financial Dependence and Innovation : The Case of Public Versus Private Firms
Acharya, Viral V. - 2014
This paper examines the relationship between innovation and firms' dependence on external capital by analyzing the innovation activities of privately-held and publicly-traded firms. We find that public firms in external finance dependent industries generate patents of higher quantity, quality,...
Persistent link: https://www.econbiz.de/10013061816
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How Do CEOS See Their Role? Management Philosophy and Styles in Family and Non-Family Firms
Mullins, William - 2014
Using a survey of 800 CEOs in 22 emerging economies we show that CEOs' management styles and philosophy vary with the control rights and involvement of the owning family and founder: CEOs of firms with greater family involvement have more hierarchical management, and feel more accountable to...
Persistent link: https://www.econbiz.de/10013063090
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Global Collaborative Patents
Kerr, Sari Pekkala - 2015
We study the prevalence and traits of global collaborative patents for U.S. public companies, where the inventor team is located both within and outside of the United States. Collaborative patents are frequently observed when a corporation is entering into a new foreign region for innovative...
Persistent link: https://www.econbiz.de/10013011460
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Financing Decisions and Product Introductions of Private and Publicly Traded Firms
Phillips, Gordon M. - 2014
We exploit Medicare national coverage reimbursement approvals of medical devices as a quasi-natural experiment to investigate how private and publicly traded firm financing decisions and product introductions respond to exogenous changes in investment opportunities. We find that publicly traded...
Persistent link: https://www.econbiz.de/10013045583
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Does Shareholder Proxy Access Improve Firm Value? Evidence from the Business Roundtable Challenge
Becker, Bo - 2012
We use the Business Roundtable's challenge to the SEC's 2010 proxy access rule as a natural experiment to measure the value of shareholder proxy access. We find that firms that would have been most vulnerable to proxy access, as measured by institutional ownership and activist institutional...
Persistent link: https://www.econbiz.de/10013111307
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Dancing with Activists
Bebchuk, Lucian A. - 2019
An important milestone often reached in the life of an activist engagement is entering into a “settlement” agreement between the activist and the target's board. Using a comprehensive hand-collected data set, we analyze the drivers, nature, and consequences of such settlement agreements....
Persistent link: https://www.econbiz.de/10012863283
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The Specter of the Giant Three
Bebchuk, Lucian A. - 2019
This paper examines the large, steady, and continuing growth of the Big Three index fund managers—BlackRock, Vanguard, and State Street Global Advisors. We show that there is a real prospect that index funds will continue to grow, and that voting in most significant public companies will come...
Persistent link: https://www.econbiz.de/10012868749