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Collaterlization, bank loan rates and monitoring : evidence from a natural experiment

Cerqueiro, Geraldo; Ongena, Steven; Roszbach, Kasper - 2012

type of collateral that is comparable to the floating lien. We explore this natural experiment to identify how collateral …-in-differences approach, we find that following the change in the law and the loss in collateral value borrowers pay a higher interest rate on … credit by their bank. The reduction in collateral value also precedes a decrease in bank monitoring intensity and frequency …

Persistent link: https://www.econbiz.de/10009532307

Law and Economics and Tort Litigation Institutions : Theory and Experiments

Landeo, Claudia - 2014

In tort litigation, delayed settlement or impasse imposes high costs on the parties and society. Litigation institutions might influence social welfare by affecting the likelihood of out-of-court settlement and the potential injurers' investment in product safety. An appropriate design of...

Persistent link: https://www.econbiz.de/10014139770

Collateralization, bank loan rates and monitoring: evidence from a natural experiment

Cerqueiro, Geraldo; Ongena, Steven; Roszbach, Kasper - 2011 - This draft: July, 2011

Persistent link: https://www.econbiz.de/10009244171

What if borrowers were informed about credit reporting? : two natural field experiments

Liao, Li; Martin, Xiumin; Wang, Ni; Wang, Zhengwei; … - In: The accounting review : a publication of the American … 98 (2023) 3, pp. 397-425

Persistent link: https://www.econbiz.de/10014303191

Symmetric Information Bubbles : Experimental Evidence

Asako, Yasushi - 2017

This study experimentally analyses traders' choices, with and without asymmetric information, based on the riding-bubble model. While asymmetric information has been necessary to explain a bubble in past theoretical models, our experiments show that traders have an incentive to hold a bubble...

Persistent link: https://www.econbiz.de/10012965451

(A)Symmetric Information Bubbles : Experimental Evidence

Asako, Yasushi - 2017

Asymmetric information has been necessary to explain a bubble in past theoretical models. This study experimentally analyzes traders' choices, with and without asymmetric information, based on the riding-bubble model. We show that traders have an incentive to hold a bubble asset for longer,...

Persistent link: https://www.econbiz.de/10012957128

Costly Information Acquisition and Investment Decisions : Quasi-Experimental Evidence

Xu, David Xiaoyu - 2020

Despite a vast theoretical literature that builds on costly information acquisition, there is no direct evidence on the importance of information costs in investors’ private information choices. Using a large sample of Chinese mutual fund managers’ visits to firm headquarters and exploiting...

Persistent link: https://www.econbiz.de/10014352350

When the Government Went Experimental

Kallir, Ido - 2013

-scale event study. Our results do not support the axioms of financial theory. However, our results are harmonious with the …

Persistent link: https://www.econbiz.de/10013085840

Sophisticated and Unsophisticated Runs

Cipriani, Marco; La Spada, Gabriele - 2021

This paper characterizes the run behavior of sophisticated (institutional) and unsophisticated (retail) investors by studying the runs on prime money market funds (MMFs) of March 2020, at the beginning of the COVID-19 pandemic. For both U.S. and European institutional prime MMFs, the runs were...

Persistent link: https://www.econbiz.de/10013252081

Risk-taking Under a Punishing Bailout

Zentefis, Alexander - 2023

An outside stakeholder’s commitment to bail out a levered investment fund mightencourage the fund manager to take extreme risks. But what if the bailout were harsh?The loan would have a penalty rate and the manager would have to sacrifice partequity interest in the fund. I show that as the...

Persistent link: https://www.econbiz.de/10014257713