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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
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Strategic Loan Defaults and Coordination : An Experimental Analysis
Trautmann, Stefan - 2011
This paper experimentally studies the impact of uncertainty about bank and borrower fundamentals on loan repayment. We find that solvent borrowers are more likely to default strategically when stricter disclosure creates common knowledge about bank weakness. Borrowers are also less likely to...
Persistent link: https://www.econbiz.de/10013121627
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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
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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
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Law and Economics and Tort Litigation Institutions : Theory and Experiments
Landeo, Claudia M. - 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
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Mean-Maximum Drawdown Optimization of Buy-and-Hold Portfolios Using a Multi-objective Evolutionary Algorithm
Drenovak, Mikica; Rankovic, Vladimir; Urošević, Branko; … - 2021
We develop a novel Mean-Max Drawdown portfolio optimization approach using buy-and-hold portfolios. The optimization is performed utilizing a multi-objective evolutionary algorithm on a sample of S&P 100 constituents. Our optimization procedure provides portfolios with better Mean-Max Drawdown...
Persistent link: https://www.econbiz.de/10013215136
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(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
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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
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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
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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