Narrow search
Showing 1 - 10 of 139
Cover Image
Three Essays in Empirical Asset Pricing
Jacobs, Thomas A. - 2010
The financial crisis of 2007-2008 led to extraordinary government intervention in firms and markets. The scope and depth of government action rivaled that of the Great Depression. Many traded markets experienced dramatic declines in liquidity leading to the existence of conditions normally...
Persistent link: https://www.econbiz.de/10009477864
Cover Image
14.661 Labor Economics I, Fall 2006
Pischke, Jorn-Steffen; Angrist, Joshua - 2006
Neoclassical analysis of the labor market and its institutions. A systematic development of the theory of labor supply …
Persistent link: https://www.econbiz.de/10009432547
Cover Image
An Analysis of the Medicare Prescription Drug Benefit
Claudio, Lucarelli - 2006
Medicare has recently experienced the largest expansion of benefits since its in- ception: the inclusion of prescription drug coverage under the Medicare Prescription Drug, Improvement and Modernization Act of 2003. The policy debate has mainly focused on estimating the cost of implementing the...
Persistent link: https://www.econbiz.de/10009438528
Cover Image
Moral Hazard and Adverse Selection in the Originate-to-Distribute Model of Bank Credit
Berndt, Antje; Gupta, Anurag - 2008
Over the last two decades, bank credit has evolved from the traditional relationship banking model to an originate-to-distribute model where banks can originate loans, earn their fee, and then sell them off to investors who desire such exposures. We show that the borrowers whose loans are sold...
Persistent link: https://www.econbiz.de/10009441128
Cover Image
Accounting Recognition, Moral Hazard, and Communication
Liang, Pierre Jinghong - 2000
Two complementary sources of information are studied in a multiperiod agency model. One is an accounting source which partially but credibly conveys the agent’s private information through accounting recognition. The other is an unverified communication by the agent (i.e., a self-report). In a...
Persistent link: https://www.econbiz.de/10009441137
Cover Image
Use of Penalties and Rewards in Agri-Environmental Policy
Yano, Yuki; Blandford, David - 2008
Achieving high compliance rates in incentive-based agri-environmental schemes is animportant issue. This paper explores the use of a mixed penalty-reward approach underheterogeneous compliance costs. Specifically, we examine the use of a “compliancereward” under asymmetric information and...
Persistent link: https://www.econbiz.de/10009443319
Cover Image
Government support, transfer efficiency, and moral hazard within heterogeneous regions in Canadian Agriculture
Thibodeau, David R.; Clark, J. Stephen - 2009
This study estimates the transfer efficiency of government payments on Canadian agriculture. Three measures of efficiency are used: (1) the capitalization of support into farmland values, (2) the rate of income stabilization, and (3) the effect of past government support on the variance of...
Persistent link: https://www.econbiz.de/10009444865
Cover Image
Determinants of Convertible Bond Structure;
Krishnaswami, Sudha; Yaman, Devrim - 2005
Theoretical research argues that convertible bonds mitigate the contracting costs of moral hazard, adverseselection, and financial distress. Using firm-specific and macroeconomic factors of the contracting costs,we examine the extent to which they impact the likelihood of issuance and the...
Persistent link: https://www.econbiz.de/10009468586
Cover Image
Contracting Costs and the Window of Opportunity for Straight Debt Issues;
Krishnaswami, Sudha; Yaman, Devrim - 2005
We analyze whether fluctuation in economy-wide factors cause time-series variation in thecontracting costs of moral hazard, adverse selection, and financial distress, and so create windows ofopportunity for firms to issue debt. Using the announcement period abnormal returns as one measure of...
Persistent link: https://www.econbiz.de/10009468589
Cover Image
Monitoring or moral hazard? Evidence from real activities manipulation by venture-backed companies.
Liu, Xiang - 2009
monitoring and restraining managers' earnings management behavior. The VC moral hazard hypothesis argues that VCs aggravate the … private benefits agency problem by exerting influence over managers to artificially inflate exit stock price through earnings … monitoring hypothesis that VCs restrain managers' RM behavior. Furthermore, I document that venture-backed companies exhibit a …
Persistent link: https://www.econbiz.de/10009475038