In this paper, we examine how a trade conflict's impact on the real economy can be amplified by financial intermediaries. After the Norwegian Nobel Peace Prize Committee awarded the 2010 Nobel Peace Prize to Chinese dissident Liu Xiaobo, China in practice banned imports of Norwegian salmon. The...

In this paper, we examine how a trade conflict's impact on the real economy can be amplified by financial intermediaries. After China's implicit ban on the imports of Norwegian salmon in response to the decision on 2010 Nobel Peace Prize, we find that banks that are highly exposed to the salmon...

In this paper, we examine how a trade conflict's impact on the real economy can be amplified by financial intermediaries. After the Norwegian Nobel Peace Prize Committee awarded the 2010 Nobel Peace Prize to Chinese dissident Liu Xiaobo, China in practice banned imports of Norwegian salmon. The...

This paper examines the reciprocal lending relationships between financial conglomerates (FCs) in the repo market to better understand the following key points: what motivates powerful firms to engage in this type of contemporaneous cross-funding relationship; and the implications of such...

The percentage of out-of-market loan originations to small businesses, as measured by both amounts and number, have been trending upward over the past two decades. The percentage of out-of-market loan originations to small businesses, as measured by both amounts and number, declined when...

This paper investigates the effect of a firm's organizational structure on its debt financing activities. Using corporate diversification strategy as an identification tool for organizational structure, we find that diversified firms have significantly lower loan rates than comparable focused...