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Seventy Years of U.S. Financial Intermediation

Hein, Scott E. - 2023

, but less than three times that held by the Federal Reserve. The average annual growth of financial asset holdings of … credit unions (12%) has generally exceeded the average annual growth of financial asset holdings of banks (7%) over the last … seventy years.Since the turn of the century, the average annual growth of financial asset holdings of both credit unions (8 …

Persistent link: https://www.econbiz.de/10014254933

Elective shareholder liability

Conti-Brown, Peter - 2011

Government bailouts undermine the core principles of capitalism. They are also expensive, unjust, unpopular, and usually represent dramatic deviations from the rule of law. However, they are also, in some cases, necessary. The “problem of bailouts,” then, is that they are almost always...

Persistent link: https://www.econbiz.de/10009506648

U.S. Dollar Currency Premium in Corporate Bonds

Caramichael, John; Gopinath, Gita; Liao, Gordon - 2022

We isolate a U.S. dollar currency premium by comparing corporate bonds issued in the dollar and the euro by firms o utside t he U .S. a nd e uro a rea. We make s everal empirical observations that dissect the perceived advantage of borrowing in the dollar. First, while the dollar dominates...

Persistent link: https://www.econbiz.de/10013306776

Sunshine trading : flashes of trading intent at the NASDAQ

Skjieltorp, Johannes A.; Sojli, Elvira; Tham, Wing Wah - 2012

Persistent link: https://www.econbiz.de/10009724313

Repo and securities lending

Adrian, Tobias; Begalle, Brian; Copeland, Adam; Martin, … - 2011

We provide an overview of the data requirements necessary to monitor repurchase agreements (repos) and securities lending markets for the purposes of informing policymakers and researchers about firm-level and systemic risk. We start by explaining the functioning of these markets, then argue...

Persistent link: https://www.econbiz.de/10009411379

Which financial frictions? : parsing the evidence from the financial crisis of 2007-09

Adrian, Tobias; Colla, Paolo; Shin, Hyun Song - 2011

The financial crisis of 2007-09 has sparked keen interest in models of financial frictions and their impact on macro activity. Most models share the feature that borrowers suffer a contraction in the quantity of credit. However, the evidence suggests that although bank lending contracted during...

Persistent link: https://www.econbiz.de/10009411381

High-frequency technical trading : the importance of speed

Scholtus, Martin L.; Dijk, Dick van - 2012

Persistent link: https://www.econbiz.de/10009722698

Funding continuum for private business owners : evidence from the Pepperdine Private Capital Markets Project Survey

Harjoto, Maretno A.; Paglia, John K. - In: Journal of entrepreneurial finance : JEF ; official … 15 (2011) 2, pp. 1-22

The Pepperdine Private Capital Markets Project survey for business owners, administered during the spring of 2010, reveals an increasingly important role of friends and family (Friends/Family) to provide capital for privately-held businesses. Examining business owners’ perceptions of their...

Persistent link: https://www.econbiz.de/10010345499

Style Analysis for Diversified U.S. Equity Funds

Mason, Andrew - 2012

In this study we consider two methods of returns based style analysis for classification of investment styles for a single asset class, US Diversified Equity Funds. We extend Sharpe's (1992) style Returns Based Style Analysis (RBSA) by forming style groups using cluster analysis and RBSA...

Persistent link: https://www.econbiz.de/10013106110

Why Discrete Price Fragments U.S. Stock Exchanges and Disperses Their Fee Structures

Chao, Yong - 2019

Stock exchange operators compete for order flow by setting "make" fees for limit orders and "take" fees for market orders. When traders quote continuous prices, they can choose prices that perfectly neutralize any fee division, and traders stream to the exchange with the lowest total fee. The...

Persistent link: https://www.econbiz.de/10012904610

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