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correlation of incentive pay with both the level and volatility of bank trading income -particularly for the pre-crisis period … markets divisions with the strength of incentive pay in unrelated bank divisions like retail banking. Moreover, pre …
Persistent link: https://www.econbiz.de/10010442879
Is bank- versus market-based financing different in its attitudes towards Environmental, Social, and Governance (ESG … bank monitoring and scrutiny. The Social and Governance components, in particular, matter. Furthermore, firms suffering … higher numbers of negative ESG reputation shocks are less likely to continue to rely on bank credit in response to lenders …
Persistent link: https://www.econbiz.de/10013169151
quasi-exogenous variation in firms' banker networks from interstate bank branching deregulation to show that this …
Persistent link: https://www.econbiz.de/10011900293
Mandatory filings for UK hedge funds allow analysis of the effect of managerial employment networks on investment behavior. Employment in the same firm leads to significantly more similar investment behavior in terms of raw returns, abnormal performance (alpha), systematic risk (beta), and...
Persistent link: https://www.econbiz.de/10011515858
We study the selection of private equity managers (GPs) for over 100,000 capital commitments between 1990 and 2019 by global institutional investors (LPs) choosing from a plausible contemporaneous opportunity set. In addition to chasing GPs with high prior performance, LPs have large...
Persistent link: https://www.econbiz.de/10012800432
We study how plan sponsors choose investment management firms from their opportunity set when delegating $1.6 trillion in assets between 2002 and 2017. Two factors play an influential role in choice: pre-hiring returns, and pre-existing personal connections between personnel at the plan (or...
Persistent link: https://www.econbiz.de/10012271183
Monetary risk measures classify a financial position by the minimal amount of external capital that must be added to the position to make it acceptable.We propose a new concept: intrinsic risk measures. The definition via external capital is avoided and only internal resources appear. An...
Persistent link: https://www.econbiz.de/10011620033
This paper provides evidence on how the new international regulation on Global Systemically Important Banks (G-SIBs) impacts the market value of large banks. We analyze the stock price reactions for the 300 largest banks from 52 countries across 12 relevant regulatory announcement and...
Persistent link: https://www.econbiz.de/10010412297
how the take-up of FinTech credit varies with the entrepreneur’s bank distance. Proximity to the branches of the five …
Persistent link: https://www.econbiz.de/10012612853
We identify the effects of negative interest rate policies on bank behavior using difference-in differences … mortgage margins is shown to depend on market power. Third, imposing negative rates on all central bank reserves causes banks …
Persistent link: https://www.econbiz.de/10012419657