This paper uses Chief Executive Officer (CEO) facial features to examine the association between CEO masculinity and bank risk-taking. Given that high facial width-to-height ratio has been linked to high testosterone levels and masculine behavioral traits such as increased risk tolerance,...

This paper examines the effect of facial attractiveness on the compensation of bank Chief Executive Officers (CEOs). Consistent with the so-called beauty premium hypothesis, we document that good looks pay off for bank CEOs. Specifically, by utilizing machine learning to assess the facial...

This paper examines the influence of CEO and CFO age on bank risk-taking. Using data on large U.S. banks between 2006 and 2018, we document a negative association between CEO age and the bank’s insolvency risk and market-based measures of risk-taking after controlling for bank size, asset...

This paper examines the relationship between stock returns and the sources of corporate debt during the financial crisis of 2008. In particular, using data on large-capitalization Russian firms, we investigate whether dependence on either bank debt or bonds affected stock returns during the...

This paper examines the linkage between bank liquidity creation and systemic risk. Using quarterly data on U.S. bank holding companies from 2003 to 2016, we document that liquidity creation decreases systemic risk at the individual bank level after controlling for bank size, asset risk, and...

This paper examines the association between firm valuation and the sources of debt financing. In particular, using a sample of 353 firms, we test whether the decision to issue bonds affects the firm's stock market performance in the emerging Russian markets. Our results indicate that public debt...