NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Papers in Corporate Finance


2015
w21133 Paul Gompers
Steven N. Kaplan
Vladimir Mukharlyamov

What Do Private Equity Firms Say They Do?

w21131 Alex Edmans
Xavier Gabaix

Executive Compensation: A Modern Primer

w21112 Hanming Fang
Quanlin Gu
Wei Xiong
Li-An Zhou

Demystifying the Chinese Housing Boom

w21108 Robert L. McDonald
Anna Paulson

AIG in Hindsight

w21086 Nittai K. Bergman
Rajkamal Iyer
Richard T. Thakor

Financial Accelerator at Work: Evidence from Corn Fields

w21076 Xavier Giroud
Holger M. Mueller

Firm Leverage and Unemployment during the Great Recession

w21075 Chunxin Jia
Yaping Wang
Wei Xiong

Social Trust and Differential Reactions of Local and Foreign Investors to Public News

w21066 David Yermack
Donor Governance and Financial Management in Prominent U.S. Art Museums

w21060 Clemens Sialm
Hanjiang Zhang

Tax-Efficient Asset Management: Evidence from Equity Mutual Funds

w21016 Hang Bai
Kewei Hou
Howard Kung
Lu Zhang

The CAPM Strikes Back? An Investment Model with Disasters

w21007 Erik Hurst
Benjamin J. Keys
Amit Seru
Joseph S. Vavra

Regional Redistribution Through the U.S. Mortgage Market

w21005 Maija Halonen-Akatwijuka
Oliver Hart

Short-term, Long-term, and Continuing Contracts

w21003 Danny Yagan
Capital Tax Reform and the Real Economy: The Effects of the 2003 Dividend Tax Cut

w20991 Marina Druz
Alexander F. Wagner
Richard J. Zeckhauser

Tips and Tells from Managers: How Analysts and the Market Read Between the Lines of Conference Calls

w20979 Patrick Bolton
Neng Wang
Jinqiang Yang

A Theory of Liquidity and Risk Management Based on the Inalienability of Risky Human Capital

w20978 Christopher A. Hennessy
Ilya A. Strebulaev

Natural Experiment Policy Evaluation: A Critique

w20957 Jennifer N. Carpenter
Fangzhou Lu
Robert F. Whitelaw

The Real Value of China's Stock Market

w20947 Atif R. Mian
Amir Sufi

Fraudulent Income Overstatement on Mortgage Applications during the Credit Expansion of 2002 to 2005

w20930 Donghua Chen
Dequan Jiang
Alexander Ljungqvist
Haitian Lu
Mingming Zhou

State Capitalism vs. Private Enterprise

w20903 Richard T. Thakor
Andrew W. Lo

Competition and R&D Financing Decisions: Theory and Evidence from the Biopharmaceutical Industry

w20899 Adair Morse
Peer-to-Peer Crowdfunding: Information and the Potential for Disruption in Consumer Lending

w20894 Luigi Zingales
Does Finance Benefit Society?

w20888 Matthew J. Bloomfield
Ulf Brüggemann
Hans B. Christensen
Christian Leuz

The Effect of Regulatory Harmonization on Cross-border Labor Migration: Evidence from the Accounting Profession

w20880 Jia Chen
Kewei Hou
René M. Stulz

Are Firms in "Boring" Industries Worth Less?

w20875 Nicola Gennaioli
Andrei Shleifer
Robert Vishny

Neglected Risks: The Psychology of Financial Crises

w20863 Ross Levine
Chen Lin
Wensi Xie

Spare Tire? Stock Markets, Banking Crises, and Economic Recoveries

w20848 Manuel Adelino
Antoinette Schoar
Felipe Severino

Changes in Buyer Composition and the Expansion of Credit During the Boom

w20825 Camelia M. Kuhnen
Paul Oyer

Exploration for Human Capital: Evidence from the MBA Labor Market


2014
w20777 Sergey Chernenko
Samuel G. Hanson
Adi Sunderam

The Rise and Fall of Demand for Securitizations

w20776 Christopher L. Culp
Yoshio Nozawa
Pietro Veronesi

Option-Based Credit Spreads

w20760 Liangliang Jiang
Ross Levine
Chen Lin

Competition and Bank Opacity

w20758 Martin Goetz
Luc Laeven
Ross Levine

Does the Geographic Expansion of Bank Assets Reduce Risk?

w20744 Martin Lettau
Sydney C. Ludvigson
Sai Ma

Capital Share Risk and Shareholder Heterogeneity in U.S. Stock Pricing

w20729 Pierre Chaigneau
Alex Edmans
Daniel Gottlieb

The Generalized Informativeness Principle

w20726 Laura Alfaro
Anusha Chari
Fabio Kanczuk

The Real Effects of Capital Controls: Financial Constraints, Exporters, and Firm Investment

w20717 David Sraer
David Thesmar
Antoinette Schoar
Johan Hombert

Can Unemployment Insurance Spur Entrepreneurial Activity?

w20710 Johannes Stroebel
Joseph Vavra

House Prices, Local Demand, and Retail Prices

w20704 Michael Greenstone
Alexandre Mas
Hoai-Luu Nguyen

Do Credit Market Shocks affect the Real Economy? Quasi-Experimental Evidence from the Great Recession and ‘Normal’ Economic Times

w20700 Lubos Pastor
Robert F. Stambaugh
Lucian A. Taylor

Do Funds Make More When They Trade More?

w20691 Markus K. Brunnermeier
Alp Simsek
Wei Xiong

A Welfare Criterion for Models with Distorted Beliefs

w20682 Kewei Hou
Chen Xue
Lu Zhang

A Comparison of New Factor Models

w20676 William R. Kerr
Ramana Nanda

Financing Innovation

w20674 Yihui Pan
Tracy Yue Wang
Michael S. Weisbach

Does Uncertainty about Management Affect Firms’ Costs of Borrowing?

w20673 Matthew Gentzkow
Jesse M. Shapiro

Measuring the Sensitivity of Parameter Estimates to Sample Statistics

w20665 Daron Acemoglu
Tarek A. Hassan
Ahmed Tahoun

The Power of the Street: Evidence from Egypt's Arab Spring

w20661 Stefano DellaVigna
Johannes Hermle

Does Conflict of Interest Lead to Biased Coverage? Evidence from Movie Reviews

w20638 Hui Chen
Rui Cui
Zhiguo He
Konstantin Milbradt

Quantifying Liquidity and Default Risks of Corporate Bonds over the Business Cycle

w20634 C. Fritz Foley
Kalina Manova

International Trade, Multinational Activity, and Corporate Finance

w20621 Lorenz Kueng
Mu-Jeung Yang
Bryan Hong

Sources of Firm Life-Cycle Dynamics: Differentiating Size vs. Age Effects

w20610 Patrick Bolton
Neng Wang
Jinqiang Yang

Investment Under Uncertainty and the Value of Real and Financial Flexibility

w20587 Yael V. Hochberg
Carlos J. Serrano
Rosemarie H. Ziedonis

Patent Collateral, Investor Commitment, and the Market for Venture Lending

w20583 Thais Lærkholm Jensen
Søren Leth-Petersen
Ramana Nanda

Housing Collateral, Credit Constraints and Entrepreneurship - Evidence from a Mortgage Reform

w20581 John Graham
Mark T. Leary
Michael R. Roberts

How Does Government Borrowing Affect Corporate Financing and Investment?

w20579 S. Katie Moon
Gordon M. Phillips

Outside Purchase Contracts, Human Capital and Firm Capital Structure

w20578 Gordon Phillips
Giorgo Sertsios

Financing Decisions and Product Introductions of Private and Publicly Traded Firms

w20567 Brent Glover
Seth Richards-Shubik

Contagion in the European Sovereign Debt Crisis

w20561 Benjamin J. Keys
Tomasz Piskorski
Amit Seru
Vincent Yao

Mortgage Rates, Household Balance Sheets, and the Real Economy

w20544 Carola Frydman
Eric Hilt

Investment Banks as Corporate Monitors in the Early 20th Century United States

w20542 Pierre Chaigneau
Alex Edmans
Daniel Gottlieb

The Value of Informativeness for Contracting

w20442 Andrea L. Eisfeldt
Tyler Muir

Aggregate Issuance and Savings Waves

w20484 Michael R. Roberts
The Role of Dynamic Renegotiation and Asymmetric Information in Financial Contracting

w20476 Alex Edmans
Luis Goncalves-Pinto
Yanbo Wang
Moqi Xu

Strategic News Releases in Equity Vesting Months

w20459 Asaf Bernstein
Eric Hughson
Marc D. Weidenmier

Counterparty Risk and the Establishment of the New York Stock Exchange Clearinghouse

w20456 Pierre Chaigneau
Alex Edmans
Daniel Gottlieb

The Informativeness Principle Under Limited Liability

w20435 Jonathan B. Berk
Jules H. van Binsbergen

Assessing Asset Pricing Models Using Revealed Preference

w20420 Alex Edmans
Doron Levit
Devin Reilly

Governance and Comovement Under Common Ownership

w20416 Andrew G. Atkeson
Andrea L. Eisfeldt
Pierre-Olivier Weill

Entry and Exit in OTC Derivatives Markets

w20410 Joao Granja
Gregor Matvos
Amit Seru

Selling Failed Banks

w20392 Ramana Nanda
Tom Nicholas

Did Bank Distress Stifle Innovation During the Great Depression?

w20372 Francis A. Longstaff
Ilya A. Strebulaev

Corporate Taxes and Capital Structure: A Long-Term Historical Perspective

w20365 Kinda Hachem
Resource Allocation and Inefficiency in the Financial Sector

w20356 Eric Hilt
History of American Corporate Governance: Law, Institutions, and Politics

w20353 Joanne W. Hsu
David A. Matsa
Brian T. Melzer

Positive Externalities of Social Insurance: Unemployment Insurance and Consumer Credit

w20350 Casey Dougal
Christopher A. Parsons
Sheridan Titman

Urban Vibrancy and Corporate Growth

w20347 Christopher A. Parsons
Johan Sulaeman
Sheridan Titman

The Geography of Financial Misconduct

w20345 Alberto Bisin
Piero Gottardi
Guido Ruta

Equilibrium Corporate Finance and Intermediation

w20336 Tatiana Didier
Ross Levine
Sergio L. Schmukler

Capital Market Financing, Firm Growth, Firm Size Distribution

w20310 Justin Murfin
Mitchell Petersen

Loans on Sale: Credit Market Seasonality, Borrower Need, and Lender Rent Seeking

w20300 Alex Edmans
Lucius Li
Chendi Zhang

Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around The World

w20288 Samuel G. Hanson
Andrei Shleifer
Jeremy C. Stein
Robert W. Vishny

Banks as Patient Fixed-Income Investors

w20278 Asli Demirgüç-Kunt
Edward J. Kane
Luc Laeven

Deposit Insurance Database

w20274 René M. Stulz
Governance, Risk Management, and Risk-Taking in Banks

w20268 Bruce I. Carlin
Li Jiang
Stephen A. Spiller

Learning Millennial-Style

w20255 Tri Vi Dang
Gary Gorton
Bengt Holmström
Guillermo Ordonez

Banks as Secret Keepers

w20254 Efraim Benmelech
Nittai Bergman
Anna Milanez
Vladimir Mukharlyamov

The Agglomeration of Bankruptcy

w20241 David Lucca
Amit Seru
Francesco Trebbi

The Revolving Door and Worker Flows in Banking Regulation

w20207 Oliver Hart
Luigi Zingales

Banks Are Where The Liquidity Is

w20193 Tarek A. Hassan
Thomas M. Mertens

Information Aggregation in a DSGE Model

w20176 Stephen G. Dimmock
William C. Gerken
Zoran Ivković
Scott J. Weisbenner

Capital Gains Lock-In and Governance Choices

w20165 Anil K Kashyap
Dimitrios P. Tsomocos
Alexandros P. Vardoulakis

How does macroprudential regulation change bank credit supply?

w20154 Stefano Giglio
Matteo Maggiori
Johannes Stroebel

No-Bubble Condition: Model-free Tests in Housing Markets

w20152 Atif Mian
Amir Sufi

House Price Gains and U.S. Household Spending from 2002 to 2006

w20149 Karthik Krishnan
Debarshi Nandy
Manju Puri

Does Financing Spur Small Business Productivity? Evidence from a Natural Experiment

w20147 Thomas F. Hellmann
Veikko Thiele

Friends or Foes: The Interrelationship between Angel and Venture Capital Markets

w20138 Jonathan B. Berk
Jules H. van Binsbergen
Binying Liu

Matching Capital and Labor

w20133 Stefano Giglio
Matteo Maggiori
Johannes Stroebel

Very Long-Run Discount Rates

w20121 Murillo Campello
Rafael Perez Ribas
Yan Wang

Is the Stock Market Just a Side Show? Evidence from a Structural Reform

w20090 Raymond Fisman
Yongxiang Wang

Corruption in Chinese Privatizations

w20089 Raymond Fisman
Yasushi Hamao
Yongxiang Wang

Nationalism and Economic Exchange: Evidence from Shocks to Sino-Japanese Relations

w20083 Pierre-Cyrille Hautcoeur
Angelo Riva
Eugene N. White

Floating a "Lifeboat": The Banque de France and the Crisis of 1889

w20081 Francesco Bianchi
Cosmin L. Ilut
Martin Schneider

Uncertainty Shocks, Asset Supply and Pricing over the Business Cycle

w20078 Howard Bodenhorn
Eugene N. White

The Evolution of Bank Boards of Directors in New York, 1840-1950

w20071 Itzhak Ben-David
Francesco Franzoni
Rabih Moussawi

Do ETFs Increase Volatility?

w20052 Brian Baugh
Itzhak Ben-David
Hoonsuk Park

The "Amazon Tax": Empirical Evidence from Amazon and Main Street Retailers

w20028 Benjamin E. Hermalin
Michael S. Weisbach

Understanding Corporate Governance Through Learning Models of Managerial Competence

w20027 Gary B. Gorton
Andrew Metrick
Lei Xie

The Flight from Maturity

w20015 Sumit Agarwal
Gene Amromin
Itzhak Ben-David
Souphala Chomsisengphet
Yan Zhang

Second Liens and the Holdup Problem in Mortgage Renegotiation

w20009 Patrick Bolton
Hui Chen
Neng Wang

Debt, Taxes, and Liquidity

w19991 David Yermack
Yuanzhi Li

Evasive Shareholder Meetings

w19986 Werner Erhard
Michael C. Jensen

Putting integrity Into Finance: A Purely Positive Approach

w19984 Nicole Boyson
Rüdiger Fahlenbrach
René M. Stulz

Why Do Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities

w19975 David Yermack
Yehuda Izhakian

Risk, Ambiguity, and the Exercise of Employee Stock Options

w19972 Harold L. Cole
Thomas F. Cooley

Rating Agencies

w19953 C. Fritz Foley
Paul Goldsmith-Pinkham
Jonathan Greenstein
Eric Zwick

Opting Out of Good Governance

w19947 Dirk Czarnitzki
Bronwyn H. Hall
Hanna Hottenrott

Patents as Quality Signals? The Implications for Financing Constraints on R&D

w19946 Konstantin Milbradt
Martin Oehmke

Maturity Rationing and Collective Short-Termism

w19945 Sumit Agarwal
Itzhak Ben-David

Do Loan Officers' Incentives Lead to Lax Lending Standards?

w19920 Sumit Agarwal
Gene Amromin
Itzhak Ben-David
Souphala Chomsisengphet
Douglas Evanoff

The Effectiveness of Mandatory Mortgage Counseling: Can One Dissuade Borrowers from Choosing Risky Mortgages?

w19910 John Graham
Mark T. Leary
Michael R. Roberts

A Century of Capital Structure: The Leveraging of Corporate America

w19901 Serguey Braguinsky
Atsushi Ohyama
Tetsuji Okazaki
Chad Syverson

Acquisitions, Productivity, and Profitability: Evidence from the Japanese Cotton Spinning Industry

w19891 Lubos Pastor
Robert F. Stambaugh
Lucian A. Taylor

Scale and Skill in Active Management

w19854 Xavier Gabaix
Matteo Maggiori

International Liquidity and Exchange Rate Dynamics

w19845 Manuel Adelino
Song Ma
David T. Robinson

Firm Age, Investment Opportunities, and Job Creation

w19834 Alexander Ljungqvist
Wenlan Qian

How Constraining Are Limits to Arbitrage? Evidence from a Recent Financial Innovation

w19812 Bryan Kelly
Lubos Pastor
Pietro Veronesi

The Price of Political Uncertainty: Theory and Evidence from the Option Market

w19809 Kathy Fogel
Liping Ma
Randall Morck

Powerful Independent Directors

w19806 Charles W. Calomiris
Mark Carlson

Corporate Governance and Risk Management at Unprotected Banks: National Banks in the 1890s

w19799 Dalida Kadyrzhanova
Matthew Rhodes-Kropf

Governing Misvalued Firms

w19786 Geert Bekaert
Campbell R. Harvey
Christian T. Lundblad
Stephan Siegel

Political Risk Spreads

w19783 Brian Baugh
Itzhak Ben-David
Hoonsuk Park

Disentangling Financial Constraints, Precautionary Savings, and Myopia: Household Behavior Surrounding Federal Tax Returns

w19782 Efraim Benmelech
Carola Frydman

Military CEOs

w19778 Roger K. Loh
René M. Stulz

Is Sell-Side Research More Valuable in Bad Times?


Generated Tue May 5 00:00:17 2015

 
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