NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Publications by René M. Stulz

Contact and additional information for this authorAll publicationsWorking Papers only

Books

Market Institutions and Financial Market Risk
with Mark Carey, Anil Kashyap, Raghuram Rajan
Conference held June 17-18, 2010
Published in June 2012 by Elsevier, Journal of Financial Economics

The Risks of Financial Institutions
with Mark Carey
Conference held October 22-23, 2004
Published in January 2007 by University of Chicago Press
© 2006 by the National Bureau of Economic Research

Working Papers and Chapters

March 2014Why Do Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities
with Nicole M. Boyson, Rüdiger Fahlenbrach: w19984
January 2014Is Sell-Side Research More Valuable in Bad Times?
with Roger K. Loh: w19778
September 2013Limited Managerial Attention and Corporate Aging
with Claudio Loderer, Urs Waelchli: w19428
July 2013Do Firms Issue more equity when markets are more liquid?
with Dimitrios Vagias, Mathijs A. van Dijk: w19229
June 2013Why High Leverage is Optimal for Banks
with Harry DeAngelo: w19139
August 2012Did Capital Requirements and Fair Value Accounting Spark Fire Sales in Distressed Mortgage-Backed Securities?
with Craig B. Merrill, Taylor D. Nadauld, Shane Sherlund: w18270
June 2012Multinationals and the High Cash Holdings Puzzle
with Lee Pinkowitz, Rohan Williamson: w18120
September 2011Corporate Acquisitions, Diversification, and the Firm’s Lifecycle
with Asli M. Arikan: w17463
August 2011Why Did U.S. Banks Invest in Highly-Rated Securitization Tranches?
with Isil Erel, Taylor D. Nadauld: w17269
May 2011This Time Is the Same: Using Bank Performance in 1998 to Explain Bank Performance During the Recent Financial Crisis
with Rüdiger Fahlenbrach, Robert Prilmeier: w17038
March 2011The U.S. Left Behind: The Rise of IPO Activity Around the World
with Craig Doidge, G. Andrew Karolyi: w16916
January 2011Globalization, Governance, and the Returns to Cross-Border Acquisitions
with Jesse Ellis, Sara B. Moeller, Frederik P. Schlingemann: w16676
August 2010Financial Policies and the Financial Crisis: How Important Was the Systemic Credit Contraction for Industrial Corporations?
with Kathleen M. Kahle: w16310
April 2010The dark side of outside directors: Do they quit when they are most needed?
with Rüdiger Fahlenbrach, Angie Low: w15917
March 2010Differences in Governance Practices between U.S. and Foreign Firms: Measurement, Causes, and Consequences
with Reena Aggarwal, Isil Erel, Rohan Williamson
in Corporate Governance, Michael Weisbach, editor
September 2009Credit Default Swaps and the Credit Crisis
w15384
August 2009Bank CEO Incentives and the Credit Crisis
with Rüdiger Fahlenbrach: w15212
July 2009Why Did Some Banks Perform Better During the Credit Crisis? A Cross-Country Study of the Impact of Governance and Regulation
with Andrea Beltratti: w15180
May 2009When are Analyst Recommendation Changes Influential?
with Roger K. Loh: w14971
April 2009Why Do Foreign Firms Have Less Idiosyncratic Risk than U.S. Firms?
with Söhnke M. Bartram, Gregory Brown: w14931
February 2009Do Target CEOs Sell Out Their Shareholders to Keep Their Job in a Merger?
with Leonce L. Bargeron, Frederik P. Schlingemann, Chad J. Zutter: w14724
August 2008Why Do Foreign Firms Leave U.S. Equity Markets?
with Craig Doidge, G. Andrew Karolyi: w14245
Securities Laws, Disclosure, and National Capital Markets in the Age of Financial Globalization
w14218
June 2008Hedge Fund Contagion and Liquidity
with Nicole M. Boyson, Christof W. Stahel: w14068
August 2007Differences in Governance Practices between U.S. and Foreign Firms: Measurement, Causes, and Consequences
with Reena Aggarwal, Isil Erel, Rohan Williamson: w13288
July 2007Fundamentals, Market Timing, and Seasoned Equity Offerings
with Harry DeAngelo, Linda DeAngelo: w13285
June 2007Managerial Ownership Dynamics and Firm Value
with Rüdiger Fahlenbrach: w13202
May 2007Has New York Become Less Competitive in Global Markets? Evaluating Foreign Listing Choices Over Time
with Craig Doidge, G. Andrew Karolyi: w13079
April 2007Why Do Private Acquirers Pay So Little Compared to Public Acquirers?
with Leonce Bargeron, Frederik Schlingemann, Chad Zutter: w13061
January 2007Introduction to "The Risks of Financial Institutions"
with Mark Carey
in The Risks of Financial Institutions, Mark Carey and René M. Stulz, editors
Front matter, The Risks of Financial Institutions
with Mark Carey
in The Risks of Financial Institutions, Mark Carey and René M. Stulz, editors
Do U.S. Firms Have the Best Corporate Governance? A Cross-Country Examination of the Relation between Corporate Governance and Shareholder Wealth
with Reena Aggarwal, Isil Erel, Rohan Williamson: w12819
November 2006The Economics of Conflicts of Interest in Financial Institutions
with Hamid Mehran: w12695
September 2006Why Do U.S. Firms Hold So Much More Cash Than They Used To?
with Thomas W. Bates, Kathleen M. Kahle: w12534
July 2006Financial Globalization, Governance, and the Evolution of the Home Bias
with Bong-Chan Kho, Francis E. Warnock: w12389
March 2006Is There Hedge Fund Contagion?
with Nicole M. Boyson, Christof W. Stahel: w12090
January 2006Financial Globalization, Corporate Governance, and Eastern Europe
w11912
October 2005Do Local Analysts Know More? A Cross-Country Study of the Performance of Local Analysts and Foreign Analysts
with Kee-Hong Bae, Hongping Tan: w11697
August 2005How Much Do Banks Use Credit Derivatives to Reduce Risk?
with Bernadette A. Minton, Rohan Williamson: w11579
Why Do Firms Become Widely Held? An Analysis of the ynamics of Corporate Ownership
with Jean Helwege, Christo Pirinsky: w11505
June 2005The Risks of Financial Institutions
with Mark Carey: w11442
March 2005Private Benefits of Control, Ownership, and the Cross-Listing Decision
with Craig Doidge, G. Andrew Karolyi, Karl V. Lins, Darius P. Miller: w11162
January 2005The Limits of Financial Globalization
w11070
September 2004Do Acquirers With More Uncertain Growth Prospects Gain Less From Acquisitions?
with Sara B. Moeller, Frederik P. Schlingemann: w10773
Stock Market Trading and Market Conditions
with John M. Griffin, Federico Nardari: w10719
Why Do Countries Matter So Much for Corporate Governance?
with Craig Doidge, Andrew Karolyi: w10726
July 2004Dividend Policy, Agency Costs, and Earned Equity
with Harry DeAngelo, Linda DeAngelo: w10599
June 2004Should We Fear Derivatives?
w10574
May 2004Do Domestic Investors Have an Edge? The Trading Experience of Foreign Investors in Korea
with Hyuk Choe, Bong-Chan Kho: w10502
January 2004Wealth Destruction on a Massive Scale? A Study of Acquiring-Firm Returns in the Recent Merger Wave
with Sara B. Moeller, Frederik P. Schlingemann: w10200
December 2003Do Firms in Countries with Poor Protection of Investor Rights Hold More Cash?
with Lee Pinkowitz, Rohan Williamson: w10188
March 2003Do shareholders of acquiring firms gain from acquisitions?
with Sara B. Moeller, Frederik P. Schlingemann: w9523
February 2003Equity market liberalizations as country IPOs
with Rodolfo Martell: w9481
June 2002Are Financial Assets Priced Locally or Globally?
with G. Andrew Karolyi: w8994
Daily Cross-Border Equity Flows: Pushed or Pulled?
with John M. Griffin, Federico Nardari: w9000
December 2001Corporate Governance and the Home Bias
with Lee Pinkowitz, Rohan Williamson: w8680
October 2001Why are Foreign Firms Listed in the U.S. Worth More?
with Craig Doidge, G. Andrew Karolyi: w8538
April 2001Culture, Openness, and Finance
with Rohan Williamson: w8222
January 2001Do Domestic Investors Have More Valuable Information About Individual Stocks Than Foreign Investors?
with Hyuk Choe, Bong-Chan Kho: w8073
September 2000Asset Liquidity and Segment Divestitures
with Frederik P. Schlingemann, Ralph A. Walkling: w7873
A New Approach to Measuring Financial Contagion
with Kee-Hong Bae, G. Andrew Karolyi: w7913
July 2000Firm Value, Risk, and Growth Opportunities
with Hyun-Han Shin: w7808
February 2000U.S. Banks, Crises, and Bailouts: From Mexico to LTCM
w7529
September 1999Banks, the IMF, and the Asian Crisis
with Bong-Chan Kho: w7361
June 1999Corporate Focusing and Internal Capital Markets
with Frederik P. Schlingemann, Ralph A. Walkling: w7175
March 1999Globalization of Equity Markets and the Cost of Capital
w7021
January 1999The Role of Equity Markets in International Capital Flows
with Linda L. Tesar, Stephen Friedman, George N. Hatsopoulos
in International Capital Flows, Martin Feldstein, editor
July 1998Do Foreign Investors Destabilize Stock Markets? The Korean Experience in 1997
with Hyuk Choe, Bong-Chan Kho: w6661
October 1997The Determinants and Implications of Corporate Cash Holdings
with Tim Opler, Lee Pinkowitz, Rohan Williamson: w6234
Is Bank-Centered Corporate Governance Worth It? A Cross-Sectional Analysis of the Performance of Japanese Firms during the Asset Price Deflation
with Jun-Koo Kang: w6238
International Competition and Exchange Rate Shocks: A Cross-Country Industry Analysis of Stock Returns
with John M. Griffin: w6243
November 1996The Underreaction Hypothesis and the New Issue Puzzle: Evidence from Japan
with Jun-Koo Kang, Yong-Cheol Kim: w5819
June 1996An Analysis of Divisional Investment Policies
with Hyun-Han Shin: w5639
July 1995Leverage, Investment, and Firm Growth
with Larry Lang, Eli Ofek: w5165
Why Is There a Home Bias? An Analysis of Foreign Portfolio Equity Ownership in Japan
with Jun-Koo Kang: w5166
October 1994Investment Opportunities, Managerial Decisions, and the Security Issue Decision
with Kooyul Jung, Yong-Cheol Kim: w4907
How Different is Japanese Corporate Finance? An Investigation of the Information Content of New Security Issues
with Jun-Koo Kang: w4908
May 1994Information, Trading and Stock Returns: Lessons from Dually-Listed Securities
with K.C. Chan, Wai-Ming Fong: w4743
February 1994International Portfolio Choice and Asset Pricing: An Integrative Survey
w4645
Asset Sales, Firm Performance, and the Agency Costs of Managerial Discretion
with Larry Lang, Annette Poulsen: w4654
June 1993Tobin's Q, Corporate Diversification and Firm Performance
with Larry H.P. Lang: w4376
November 1992Foreign Equity Investment Restrictions and Shareholder Wealth Maximization
with Walter Wasserfallen: w4217
May 1992Global Financial Markets and the Risk Premium on U.S. Equity
with K.C. Chan, G. Andrew Karolyi: w4074

Contact and additional information for this authorAll publicationsWorking Papers only

 
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