Narrow search
Showing 1 - 10 of 12,917
Cover Image
Technological synergies, heterogeneous firms, and idiosyncratic volatility
Fernández-Villaverde, Jesús; Yu, Yang; Zanetti, Francesco - 2024
This paper shows the importance of technological synergies among heterogeneous firms for aggregate fluctuations. First, we document six novel empirical facts using microdata that suggest the existence of important technological synergies between trading firms, the presence of positive...
Persistent link: https://www.econbiz.de/10014496498
Cover Image
Markups as a hedge for input price uncertainty: evidence from Sweden
Agrawal, Sneha; Gaurav, Abhishek; Suveg, Melinda - 2021
In this paper, we study a new channel to explain firms' price setting behavior. We propose that uncertainty about factor prices has a positive effect on markups. We show theoretically that firms with higher shares of inputs with volatile prices set higher markups. We use the Bartik shift-share...
Persistent link: https://www.econbiz.de/10012695355
Cover Image
Is An Informative Stock Price Used Less in Incentive Contracts?
Swan, Peter L. - 2019
II address the way agency incentives evolve, from listed equity with low liquidity to highly liquid stocks with active informed speculators. I conclude that, as the informativeness of stock price about the manager's actions improves, less weight needs to be given to both equity and non-price...
Persistent link: https://www.econbiz.de/10012889282
Cover Image
Heterogeneous-Agent Asset Pricing
Paron, James D. - 2021
generalized framework accommodates jumps and heterogeneous recursive preferences. I show that countercyclical cross-sectional risk … is irrelevant to risk premia if and only if all agents have identical, time-additive power utility and cross …-sectional risk is uncorrelated with aggregate consumption risk. It always affects the riskfree rate and equity volatility. I …
Persistent link: https://www.econbiz.de/10013237723
Cover Image
Uncertainty, investment, and managerial incentives
Glover, Brent; Levine, Oliver - In: Journal of monetary economics 69 (2015), pp. 121-137
Persistent link: https://www.econbiz.de/10011326673
Cover Image
When a gift resembles a trojan horse : CEO stock gift and stock price crash risk
Man Duy Pham; Thu Ha Nguyen - In: The British accounting review 56 (2024) 4, pp. 1-29
Persistent link: https://www.econbiz.de/10015062475
Cover Image
Investor-paid rating agency, information disclosure, and stock price crash risk
Lu, Jieyi; Lin, Wanfa; Guo, Huiyu; Luo, Jinyu - In: Emerging markets, finance & trade : a journal of the … 60 (2024) 8, pp. 1815-1840
Persistent link: https://www.econbiz.de/10014567121
Cover Image
Booms, Busts, and Common Risk Exposures
Kopytov, Alexandr - 2020
business cycle and shapes systemic risk. To share individual risks, banks become interconnected through holding overlapping …
Persistent link: https://www.econbiz.de/10012850795
Cover Image
Business-cycle consumption risk and asset prices
Bandi, Federico M. - 2020
and 4 years is effective in explaining the differences in risk premia across alternative test assets, including recently …
Persistent link: https://www.econbiz.de/10012856904
Cover Image
Countercyclical Fluctuations in Uncertainty are Endogenous
Bernstein, Joshua; Plante, Michael; Richter, Alexander W.; … - 2021
This paper uses a battery of calibrated and estimated structural models to determine the causal drivers of the negative correlation between output and aggregate uncertainty. We find the transmission of uncertainty shocks to output is weak, while aggregate uncertainty endogenously responds to...
Persistent link: https://www.econbiz.de/10013219154