The Economics of Conflicts of Interest in Financial Institutions

Hamid Mehran, Rene M. Stulz

NBER Working Paper No. 12695
Issued in November 2006

---- Acknowledgements -----

Federal Reserve Bank of New York and The Ohio State University, NBER, and ECGI. We are grateful for comments from Steve Buser, Harry DeAngelo, Luc Laeven, Maureen McNichols, Ross Levine, Alexander Ljungqvist, Roger Loh, Bill Schwert, Jerome Taillard, Kent Womack, Ayako Yasuda, and two anonymous referees. We thank Roger Loh for excellent scientific assistance. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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