In this paper, we examine whether the relation between securitization and bank risk changes after the financial crisis of 2007 to 2009. Using different measures of risk, we find that prior to 2007, securitization increases bank risk. We find no evidence that securitization increases bank risk...

This paper examines the effect of satisfaction with firms' products and services on their capital investment policies. Using data from the American Customer Satisfaction Index from 1994 to 2013, the results of the regression models show that firms with higher customer satisfaction will invest...

This paper examines the effects of asset liquidity on innovation investments. We show that firms with high liquid assets tend to invest more in research and development (R&D) and generate a higher number of patents and patent citations, even after controlling for cash holdings, stock liquidity...

This paper investigates the effect of uncertainty on R&D investment. We find that firms invest more in R&D when they face higher uncertainty, as measured by idiosyncratic return volatility. We further show that the effect is more pronounced for firms in more competitive industries as well as for...

Using Hoberg, Phillips and Prabhala's (2014) product market fluidity to capture competitive threats, we find that firms with high product market threats will invest more in R&D and generate higher number of patents and patent citations. In addition, this positive effect of competitive threats on...

In this paper, we examine the relation between small and medium-sized (SMEs) capacity to access external capital and innovation in Vietnam. We find that SMEs with a high debt ratio tend to be more innovative. After controlling for several firm characteristics, long-term debt remains...

The previous business literature mainly investigates the effects of board network on the financial performance of firms. In this paper, we contribute to the literature by examining its impact on firm non-financial performance. We find that firms with central or well-connected boards of directors...

This paper examines the factors that contributed to the rapid collapse of Silicon Valley Bank, once regarded as one of the best banks. We show that the bank invested heavily in debt securities during a period of low interest rates, and the subsequent surge in interest rates in 2022 resulted in...

This paper investigates the effect of interest rate changes on the U.S. banks’ performance captured by unrealized losses, investment securities allocation, and deposit withdrawal. We show that a sudden surge in interest rates could lead to massive losses, potentially erasing the market value...

This paper examines the effect of innovation on performance of Small and Medium-sized Enterprises (SMEs). Using panel data from SMEs in Vietnam, we show that SMEs with innovation tend to perform better than SMEs without innovation. We further show that the positive effect of innovation on firm...