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We examine how bank efficiency during normal times affects survival, risk, and profitability during subsequent financial crises using data from five U.S. financial crises and preceding normal times. We find cost efficiency during normal times helps reduce bank failure probabilities, decrease...
Persistent link: https://www.econbiz.de/10012901869
policies of UT Bank and other banks that were caught within similar difficulties in the industry must be immediately improved … recommends that banks' statutory lending limitations be maintained at a 10% threshold for unsecured loans and a 25% level for … secured loans of banks' net owned funds …
Persistent link: https://www.econbiz.de/10013248379
, we find that in districts with more banks, established firms borrow more, are more productive, employ more workers, and …
Persistent link: https://www.econbiz.de/10012904724
Governments regularly subsidize new ventures to spur innovation. This paper conducts the first large-sample, quasi-experimental evaluation of R&D subsidies. I use data on ranked applicants to the U.S. Department of Energy's SBIR grant program. An award approximately doubles the probability that...
Persistent link: https://www.econbiz.de/10013003051
In response to the Sarbanes-Oxley Act and stock exchange regulation, firms are forced to increase their board independence level if they did not satisfy the requirements. This article empirically examines the impact of increased board independence requirements on the governance inputs, board...
Persistent link: https://www.econbiz.de/10013026931
In 2002, President George W. Bush signed the "Sarbanes-Oxley Act” into federal law, which increased the oversight role for independent directors. The induced consequence was that firms which did not satisfy the requirements of the regulation must improve their board independence level. This...
Persistent link: https://www.econbiz.de/10013040606
This Article examines whether recent shifts among private and public markets are part of a more general phenomenon of “shapeshifting” among corporate entities. A shapeshift is a transformation of corporate form involving the creation or use of a new legal entity and one or more changes in...
Persistent link: https://www.econbiz.de/10013148211
Using a large sample of fund-years, we investigate the performance reporting behaviors of general partners (GPs) and limited partners (LPs) of Venture Capital (VC) funds. Self-reporting by GPs raises the concern that the information investors rely on may be biased, either due to selective...
Persistent link: https://www.econbiz.de/10013293695
Using quasi-natural experiments, we study how directors’ relative power or influence modulates the effects of board gender diversity. At low levels of influence, female directors have no significant impact on firm risk-taking and financial performance. However, as their influence increases...
Persistent link: https://www.econbiz.de/10014265131
banks experience positive abnormal equity returns and tighter CDS spreads, while failing banks show strong drops in equity … evaluating strategic options for affected banks and investors …
Persistent link: https://www.econbiz.de/10011906487