NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Archive of NBER Papers on Corporate Finance

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2014
w20758 Martin Goetz
Luc Laeven
Ross Levine

Does the Geographic Expansion of Bank Assets Reduce Risk?
w20760 Liangliang Jiang
Ross Levine
Chen Lin

Competition and Bank Opacity
w20776 Christopher L. Culp
Yoshio Nozawa
Pietro Veronesi

Option-Based Credit Spreads
w20777 Sergey Chernenko
Samuel G. Hanson
Adi Sunderam

The Rise and Fall of Demand for Securitizations
w20744 Martin Lettau
Sydney C. Ludvigson
Sai Ma

Capital Share Risk and Shareholder Heterogeneity in U.S. Stock Pricing
w20726 Laura Alfaro
Anusha Chari
Fabio Kanczuk

The Real Effects of Capital Control Taxes: Firm-Level Evidence from a Policy Experiment
w20729 Pierre Chaigneau
Alex Edmans
Daniel Gottlieb

The Generalized Informativeness Principle
w20710 Johannes Stroebel
Joseph Vavra

House Prices, Local Demand, and Retail Prices
w20717 David Sraer
David Thesmar
Antoinette Schoar
Johan Hombert

Can Unemployment Insurance Spur Entrepreneurial Activity?
w20691 Markus K. Brunnermeier
Alp Simsek
Wei Xiong

A Welfare Criterion for Models with Distorted Beliefs
w20700 Lubos Pastor
Robert F. Stambaugh
Lucian A. Taylor

Do Funds Make More When They Trade More?
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
w20673 Isaiah Andrews
Matthew Gentzkow
Jesse M. Shapiro

Measuring the Sensitivity of Parameter Estimates to Estimation Moments
w20674 Yihui Pan
Tracy Yue Wang
Michael S. Weisbach

Does Uncertainty about Management Affect Firms' Costs of Borrowing?
w20676 William R. Kerr
Ramana Nanda

Financing Innovation
w20682 Kewei Hou
Chen Xue
Lu Zhang

A Comparison of New Factor Models
w20661 Stefano DellaVigna
Johannes Hermle

Does Conflict of Interest Lead to Biased Coverage? Evidence from Movie Reviews
w20665 Daron Acemoglu
Tarek A. Hassan
Ahmed Tahoun

The Power of the Street: Evidence from Egypt's Arab Spring
w20634 C. Fritz Foley
Kalina Manova

International Trade, Multinational Activity, and Corporate Finance
w20638 Hui Chen
Rui Cui
Zhiguo He
Konstantin Milbradt

Quantifying Liquidity and Default Risks of Corporate Bonds over the Business Cycle
w20610 Patrick Bolton
Neng Wang
Jinqiang Yang

Investment Under Uncertainty and the Value of Real and Financial Flexibility
w20621 Lorenz Kueng
Mu-Jeung Yang
Bryan Hong

Sources of Firm Life-Cycle Dynamics: Differentiating Size vs. Age Effects
w20567 Brent Glover
Seth Richards-Shubik

Contagion in the European Sovereign Debt Crisis
w20578 Gordon Phillips
Giorgo Sertsios

Financing Decisions and Product Introductions of Private and Publicly Traded Firms
w20579 S. Katie Moon
Gordon M. Phillips

Outside Purchase Contracts, Human Capital and Firm Capital Structure
w20581 John Graham
Mark T. Leary
Michael R. Roberts

How Does Government Borrowing Affect Corporate Financing and Investment?
w20583 Thais Lærkholm Jensen
Søren Leth-Petersen
Ramana Nanda

Housing Collateral, Credit Constraints and Entrepreneurship - Evidence from a Mortgage Reform
w20587 Yael V. Hochberg
Carlos J. Serrano
Rosemarie H. Ziedonis

Patent Collateral, Investor Commitment, and the Market for Venture Lending
w20542 Pierre Chaigneau
Alex Edmans
Daniel Gottlieb

The Value of Informativeness for Contracting
w20544 Carola Frydman
Eric Hilt

Investment Banks as Corporate Monitors in the Early 20th Century United States
w20561 Benjamin J. Keys
Tomasz Piskorski
Amit Seru
Vincent Yao

Mortgage Rates, Household Balance Sheets, and the Real Economy
w20442 Andrea L. Eisfeldt
Tyler Muir

Aggregate External Financing and Savings Waves
w20476 Alex Edmans
Luis Goncalves-Pinto
Yanbo Wang
Moqi Xu

Strategic News Releases in Equity Vesting Months
w20484 Michael R. Roberts
The Role of Dynamic Renegotiation and Asymmetric Information in Financial Contracting
w20456 Pierre Chaigneau
Alex Edmans
Daniel Gottlieb

The Informativeness Principle Under Limited Liability
w20459 Asaf Bernstein
Eric Hughson
Marc D. Weidenmier

Counterparty Risk and the Establishment of the New York Stock Exchange Clearinghouse
w20416 Andrew G. Atkeson
Andrea L. Eisfeldt
Pierre-Olivier Weill

Entry and Exit in OTC Derivatives Markets
w20420 Alex Edmans
Doron Levit
Devin Reilly

Governance and Comovement Under Common Ownership
w20435 Jonathan B. Berk
Jules H. van Binsbergen

Assessing Asset Pricing Models Using Revealed Preference
w20392 Ramana Nanda
Tom Nicholas

Did Bank Distress Stifle Innovation During the Great Depression?
w20410 Joao Granja
Gregor Matvos
Amit Seru

Selling Failed Banks
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
w20345 Alberto Bisin
Piero Gottardi
Guido Ruta

Equilibrium Corporate Finance and Intermediation
w20347 Christopher A. Parsons
Johan Sulaeman
Sheridan Titman

The Geography of Financial Misconduct
w20350 Casey Dougal
Christopher A. Parsons
Sheridan Titman

Urban Vibrancy and Corporate Growth
w20353 Joanne W. Hsu
David A. Matsa
Brian T. Melzer

Positive Externalities of Social Insurance: Unemployment Insurance and Consumer Credit
w20356 Eric Hilt
History of American Corporate Governance: Law, Institutions, and Politics
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 rents
w20278 Asli Demirgüç-Kunt
Edward J. Kane
Luc Laeven

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

Banks as Patient Fixed-Income Investors
w20300 Alex Edmans
Lucius Li
Chendi Zhang

Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around The World
w20268 Bruce I. Carlin
Li Jiang
Stephen A. Spiller

Learning Millennial-Style
w20274 René M. Stulz
Governance, Risk Management, and Risk-Taking in Banks
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
w20165 Anil K Kashyap
Dimitrios P. Tsomocos
Alexandros P. Vardoulakis

How does macroprudential regulation change bank credit supply?
w20176 Stephen G. Dimmock
William C. Gerken
Zoran Ivković
Scott J. Weisbenner

Capital Gains Lock-In and Governance Choices
w20147 Thomas F. Hellmann
Veikko Thiele

Friends or Foes: The Interrelationship between Angel and Venture Capital Markets
w20149 Karthik Krishnan
Debarshi Nandy
Manju Puri

Does Financing Spur Small Business Productivity? Evidence from a Natural Experiment
w20152 Atif Mian
Amir Sufi

House Price Gains and U.S. Household Spending from 2002 to 2006
w20154 Stefano Giglio
Matteo Maggiori
Johannes Stroebel

No-Bubble Condition: Model-free Tests in Housing Markets
w20121 Murillo Campello
Rafael Perez Ribas
Yan Wang

Is the Stock Market Just a Side Show? Evidence from a Structural Reform
w20133 Stefano Giglio
Matteo Maggiori
Johannes Stroebel

Very Long-Run Discount Rates
w20138 Jonathan B. Berk
Jules H. van Binsbergen
Binying Liu

Matching Capital and Labor
w20081 Francesco Bianchi
Cosmin L. Ilut
Martin Schneider

Uncertainty Shocks, Asset Supply and Pricing over the Business Cycle
w20083 Pierre-Cyrille Hautcoeur
Angelo Riva
Eugene N. White

Floating a "Lifeboat": The Banque de France and the Crisis of 1889
w20089 Raymond Fisman
Yasushi Hamao
Yongxiang Wang

Nationalism and Economic Exchange: Evidence from Shocks to Sino-Japanese Relations
w20090 Raymond Fisman
Yongxiang Wang

Corruption in Chinese Privatizations
w20071 Itzhak Ben-David
Francesco Franzoni
Rabih Moussawi

Do ETFs Increase Volatility?
w20078 Howard Bodenhorn
Eugene N. White

The Evolution of Bank Boards of Directors in New York, 1840-1950
w20052 Brian Baugh
Itzhak Ben-David
Hoonsuk Park

Can Taxes Shape an Industry? Evidence from the Implementation of the "Amazon Tax"
w20027 Gary B. Gorton
Andrew Metrick
Lei Xie

The Flight from Maturity
w20028 Benjamin E. Hermalin
Michael S. Weisbach

Understanding Corporate Governance Through Learning Models of Managerial Competence
w20009 Patrick Bolton
Hui Chen
Neng Wang

Debt, Taxes, and Liquidity
w20015 Sumit Agarwal
Gene Amromin
Itzhak Ben-David
Souphala Chomsisengphet
Yan Zhang

Second Liens and the Holdup Problem in Mortgage Renegotiation
w19984 Nicole Boyson
Rüdiger Fahlenbrach
René M. Stulz

Why Do Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities
w19986 Werner Erhard
Michael C. Jensen

Putting integrity Into Finance: A Purely Positive Approach
w19991 David Yermack
Yuanzhi Li

Evasive Shareholder Meetings
w19972 Harold L. Cole
Thomas F. Cooley

Rating Agencies
w19975 David Yermack
Yehuda Izhakian

Risk, Ambiguity, and the Exercise of Employee Stock Options
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
w19945 Sumit Agarwal
Itzhak Ben-David

Loan Prospecting and the Loss of Soft Information
w19946 Konstantin Milbradt
Martin Oehmke

Maturity Rationing and Collective Short-Termism
w19910 John Graham
Mark T. Leary
Michael R. Roberts

A Century of Capital Structure: The Leveraging of Corporate America
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?
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
w19834 Alexander Ljungqvist
Wenlan Qian

How Constraining Are Limits to Arbitrage? Evidence from a Recent Financial Innovation
w19845 Manuel Adelino
Song Ma
David T. Robinson

Firm Age, Investment Opportunities, and Job Creation
w19854 Xavier Gabaix
Matteo Maggiori

International Liquidity and Exchange Rate Dynamics
w19799 Dalida Kadyrzhanova
Matthew Rhodes-Kropf

Governing Misvalued Firms
w19806 Charles W. Calomiris
Mark Carlson

Corporate Governance and Risk Management at Unprotected Banks: National Banks in the 1890s
w19809 Kathy Fogel
Liping Ma
Randall Morck

Powerful Independent Directors
w19812 Bryan Kelly
Lubos Pastor
Pietro Veronesi

The Price of Political Uncertainty: Theory and Evidence from the Option Market
w19778 Roger K. Loh
René M. Stulz

Is Sell-Side Research More Valuable in Bad Times?
w19782 Efraim Benmelech
Carola Frydman

Military CEOs
w19783 Brian Baugh
Itzhak Ben-David
Hoonsuk Park

Disentangling Financial Constraints, Precautionary Savings, and Myopia: Household Behavior Surrounding Federal Tax Returns
w19786 Geert Bekaert
Campbell R. Harvey
Christian T. Lundblad
Stephan Siegel

Political Risk Spreads
2013
w19773 Viral V. Acharya
Bruce Tuckman

Unintended Consequences of LOLR Facilities: The Case of Illiquid Leverage
w19757 Hans Fehr
Sabine Jokisch
Ashwin Kambhampati
Laurence J. Kotlikoff

Simulating the Elimination of the U.S. Corporate Income Tax
w19722 Oriana Bandiera
Andrea Prat
Raffaella Sadun

Managing the Family Firm: Evidence from CEOs at Work
w19728 Jennie Bai
Thomas Philippon
Alexi Savov

Have Financial Markets Become More Informative?
w19688 Charles Y. Horioka
Akiko Terada-Hagiwara

Corporate Cash Holding in Asia
w19691 Eugene Kandel
Konstantin Kosenko
Randall Morck
Yishay Yafeh

The Great Pyramids of America: A Revised History of US Business Groups, Corporate Ownership and Regulation, 1930-1950
w19701 Daron Acemoglu
Simon Johnson
Amir Kermani
James Kwak
Todd Mitton

The Value of Connections in Turbulent Times: Evidence from the United States
w19707 Viral V. Acharya
Hanh Le
Hyun Song Shin

Bank Capital and Dividend Externalities
w19708 Viral V. Acharya
Zhaoxia Xu

Financial Dependence and Innovation: The Case of Public versus Private Firms
w19714 Nicholas Bloom
Fluctuations in Uncertainty
w19680 Martin C. Schmalz
David A. Sraer
David Thesmar

Housing Collateral and Entrepreneurship
w19669 Kerry Back
Tao Li
Alexander Ljungqvist

Liquidity and Governance
w19670 Ing-Haw Cheng
Wei Xiong

Why Do Hedgers Trade So Much?
w19633 William Gornall
Ilya A. Strebulaev

Financing as a Supply Chain: The Capital Structure of Banks and Borrowers
w19609 Annette Alstadsæter
Wojciech Kopczuk
Kjetil Telle

Are Closely-Held Firms Tax Shelters?
w19612 Morten Sorensen
Neng Wang
Jinqiang Yang

Valuing Private Equity
w19619 Pierre Collin-Dufresne
Vyacheslav Fos

Moral Hazard, Informed Trading, and Stock Prices
w19594 Thomas F. Cooley
Ramon Marimon
Vincenzo Quadrini

Risky Investments with Limited Commitment
w19606 Sumit Agarwal
Itzhak Ben-David
Vincent Yao

Collateral Valuation and Borrower Financial Constraints: Evidence from the Residential Real Estate Market
w19568 Ralph S.J. Koijen
Motohiro Yogo

Shadow Insurance
w19569 Clemens Sialm
Laura Starks
Hanjiang Zhang

Defined Contribution Pension Plans: Sticky or Discerning Money?
w19572 Anton Korinek
Jonathan Kreamer

The Redistributive Effects of Financial Deregulation
w19573 Alex Edmans
Blockholders and Corporate Governance
w19540 Gary Gorton
The Development of Opacity in U.S. Banking
w19551 Joan Farre-Mensa
Alexander Ljungqvist

Do Measures of Financial Constraints Measure Financial Constraints?
w19557 Luigi Guiso
Paola Sapienza
Luigi Zingales

The Value of Corporate Culture
w19514 Markus K. Brunnermeier
Martin Oehmke

Predatory Short Selling
w19502 Heitor Almeida
Murillo Campello
Igor Cunha
Michael S. Weisbach

Corporate Liquidity Management: A Conceptual Framework and Survey
w19466 Bryan Kelly
Hanno Lustig
Stijn Van Nieuwerburgh

Firm Volatility in Granular Networks
w19467 Patrick Bolton
Xavier Freixas
Leonardo Gambacorta
Paolo Emilio Mistrulli

Relationship and Transaction Lending in a Crisis
w19472 Shawn Cole
Martin Kanz
Leora Klapper

Incentivizing Calculated Risk-Taking: Evidence from an Experiment with Commercial Bank Loan Officers
w19484 Sumit Agarwal
Souphala Chomsisengphet
Neale Mahoney
Johannes Stroebel

Regulating Consumer Financial Products: Evidence from Credit Cards
w19462 Hyunbae Chun
Jung-Wook Kim
Randall Morck

Productivity Growth and Stock Returns: Firm- and Aggregate-Level Analyses
w19432 Ing-Haw Cheng
Harrison Hong
Kelly Shue

Do Managers Do Good with Other People's Money?
w19420 Alex Edmans
Mirko Heinle
Chong Huang

The Real Costs of Disclosure
w19417 Paul Asquith
Thom Covert
Parag Pathak

The Effects of Mandatory Transparency in Financial Market Design: Evidence from the Corporate Bond Market
w19428 Claudio Loderer
René Stulz
Urs Waelchli

Limited Managerial Attention and Corporate Aging
w19395 William Mullins
Antoinette Schoar

How do CEOs see their Role? Management Philosophy and Styles in Family and Non-Family Firms
w19403 Erik Gilje
Elena Loutskina
Philip E. Strahan

Exporting Liquidity: Branch Banking and Financial Integration
w19407 Alex Edmans
Vivian W. Fang
Katharina A. Lewellen

Equity Vesting and Managerial Myopia
w19415 Bo Becker
Jens Josephson

Insolvency Resolution and the Missing High Yield Bond Markets
w19378 Marc Martos-Vila
Matthew Rhodes-Kropf
Jarrad Harford

Financial vs. Strategic Buyers
w19379 Ramana Nanda
Matthew Rhodes-Kropf

Innovation and the Financial Guillotine
w19380 Ross Levine
Yona Rubinstein

Liberty for More: Finance and Educational Opportunities
w19383 Avanidhar Subrahmanyam
Sheridan Titman

Financial Market Shocks and the Macroeconomy
w19389 Arvind Krishnamurthy
Stefan Nagel

Interpreting Repo Statistics in the Flow of Funds Accounts
w19358 Ulf Brüggemann
Aditya Kaul
Christian Leuz
Ingrid M. Werner

The Twilight Zone: OTC Regulatory Regimes and Market Quality
w19330 Yihui Pan
Tracy Yue Wang
Michael S. Weisbach

CEO Investment Cycles
w19347 Arthur Korteweg
Stefan Nagel

Risk-Adjusting the Returns to Venture Capital
w19276 Ross Levine
Yona Rubinstein

Smart and Illicit: Who Becomes an Entrepreneur and Do They Earn More?
w19290 Yen-cheng Chang
Harrison Hong
Inessa Liskovich

Regression Discontinuity and the Price Effects of Stock Market Indexing
w19292 Gary B. Gorton
Andrew Metrick

The Federal Reserve and Financial Regulation: The First Hundred Years
w19300 Lily Fang
Victoria Ivashina
Josh Lerner

Combining Banking with Private Equity Investing
w19303 Daniel Paravisini
Antoinette Schoar

The Incentive Effect of Scores: Randomized Evidence from Credit Committees
w19299 Lily Fang
Victoria Ivashina
Josh Lerner

The Disintermediation of Financial Markets: Direct Investing in Private Equity
w19261 Lee Biggerstaff
David C. Cicero
Andy Puckett

Unethical Culture, Suspect CEOs and Corporate Misbehavior
w19257 Bo Becker
Marcus Opp

Regulatory reform and risk-taking: replacing ratings
w19246 Robin Greenwood
Samuel Hanson

Waves in Ship Prices and Investment
w19251 Joseph J. Gerakos
Chad Syverson

Competition in the Audit Market: Policy Implications
w19229 René M. Stulz
Dimitrios Vagias
Mathijs A. van Dijk

Do Firms Issue more equity when markets are more liquid?
w19240 Pierre-Olivier Gourinchas
Hélène Rey

External Adjustment, Global Imbalances and Valuation Effects
w19204 Andrew G. Atkeson
Andrea L. Eisfeldt
Pierre-Olivier Weill

Measuring the Financial Soundness of U.S. Firms, 1926-2012
w19207 Nicolas Petrosky-Nadeau
Lu Zhang

Unemployment Crises
w19208 Nicolas Petrosky-Nadeau
Lu Zhang

Solving the DMP Model Accurately
w19184 Oliver D. Hart
Luigi Zingales

Liquidity and Inefficient Investment
w19139 Harry DeAngelo
René M. Stulz

Why High Leverage is Optimal for Banks
w19146 Rajnish Mehra
Asset Pricing Implications of Macroeconomic Interventions An Application to Climate Policy
w19156 David S. Scharfstein
Adi Sunderam

Concentration in Mortgage Lending, Refinancing Activity and Mortgage Rates
w19117 Nicola Gennaioli
Andrei Shleifer
Robert W. Vishny

Finance and the Preservation of Wealth
w19120 Michael Ewens
Matthew Rhodes-Kropf

Is a VC Partnership Greater than the Sum of its Partners?
w19106 Dean Karlan
Jonathan Zinman

Long-Run Price Elasticities of Demand for Credit: Evidence from a Countrywide Field Experiment in Mexico
w19078 Xavier Gabaix
Augustin Landier
Julien Sauvagnat

CEO Pay and Firm Size: an Update after the Crisis
w19081 T. Christopher Borek
Angelo Frattarelli
Oliver Hart

Tax Shelters or Efficient Tax Planning? A Theory of The Firm Perspective On the Economic Substance Doctrine
w19076 Pedro Bordalo
Nicola Gennaioli
Andrei Shleifer

Competition for Attention
w19050 Rajkamal Iyer
Manju Puri
Nicholas Ryan

Do Depositors Monitor Banks?
w19051 Tobias Berg
Manju Puri
Jorg Rocholl

Loan officer Incentives and the Limits of Hard Information
w19038 Valentina Bruno
Hyun Song Shin

Capital Flows, Cross-Border Banking and Global Liquidity
w19039 Viral V. Acharya
Sascha Steffen

The "Greatest" Carry Trade Ever? Understanding Eurozone Bank Risks
w19017 Randall Morck
Bernard Yeung
Wayne Yu

R-squared and the Economy
w19018 Malcolm Baker
Jeffrey Wurgler

Do Strict Capital Requirements Raise the Cost of Capital? Banking Regulation and the Low Risk Anomaly
w19001 Maija Halonen-Akatwijuka
Oliver D. Hart

More is Less: Why Parties May Deliberately Write Incomplete Contracts
w19004 Randall Morck
M. Deniz Yavuz
Bernard Yeung

State-run Banks, Money Growth, and the Real Economy
w18968 Viral V. Acharya
Robert Engle
Diane Pierret

Testing Macroprudential Stress Tests: The Risk of Regulatory Risk Weights
w18984 Karthik Balakrishnan
Mary B. Billings
Bryan T. Kelly
Alexander Ljungqvist

Shaping Liquidity: On the Causal Effects of Voluntary Disclosure
w18955 Howard Bodenhorn
Large Block Shareholders, Institutional Investors, Boards of Directors and Bank Value in the Nineteenth Century
w18936 Roland Bénabou
Jean Tirole

Bonus Culture: Competitive Pay, Screening, and Multitasking
w18943 Tobias Adrian
Hyun Song Shin

Procyclical Leverage and Value-at-Risk
w18946 Martin Čihák
Asli Demirgüč-Kunt
Erik Feyen
Ross Levine

Financial Development in 205 Economies, 1960 to 2010
w18923 Anil K Kashyap
Natalia Kovrijnykh

Who Should Pay for Credit Ratings and How?
w18903 Jongha Lim
Berk A. Sensoy
Michael S. Weisbach

Indirect Incentives of Hedge Fund Managers
w18904 Ing-Haw Cheng
Sahil Raina
Wei Xiong

Wall Street and the Housing Bubble
w18909 Bo Becker
Victoria Ivashina

Reaching for Yield in the Bond Market
w18910 Umit G. Gurun
Gregor Matvos
Amit Seru

Advertising Expensive Mortgages
w18914 Stefano Giglio
Kelly Shue

No News is News: Do Markets Underreact to Nothing?
w18882 Yihui Pan
Tracy Yue Wang
Michael S. Weisbach

Learning about CEO Ability and Stock Return Volatility
w18886 Tanja Artiga González
Markus Schmid
David Yermack

Smokescreen: How Managers Behave When They Have Something To Hide
w18890 Mary Amiti
David E. Weinstein

How Much do Bank Shocks Affect Investment? Evidence from Matched Bank-Firm Loan Data
w18891 Viral V. Acharya
Marco Pagano
Paolo Volpin

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent
w18892 Viral V. Acharya
Heitor Almeida
Filippo Ippolito
Ander Perez

Credit Lines as Monitored Liquidity Insurance: Theory and Evidence
w18868 Manuel Adelino
Antoinette Schoar
Felipe Severino

House Prices, Collateral and Self-Employment
w18840 Isil Erel
Yeejin Jang
Michael S. Weisbach

Do Acquisitions Relieve Target Firms' Financial Constraints?
w18843 Tomasz Piskorski
Amit Seru
James Witkin

Asset Quality Misrepresentation by Financial Intermediaries: Evidence from RMBS Market
w18857 Augustin Landier
David Sraer
David Thesmar

Banks' Exposure to Interest Rate Risk and The Transmission of Monetary Policy
w18793 Berk A. Sensoy
Yingdi Wang
Michael S. Weisbach

Limited Partner Performance and the Maturing of the Private Equity Industry
w18754 Jing Wu
Yongheng Deng
Jun Huang
Randall Morck
Bernard Yeung

Incentives and Outcomes: China's Environmental Policy
w18762 Jing Wu
Joseph Gyourko
Yongheng Deng

Is There Evidence of a Real Estate Collateral Channel Effect on Listed Firm Investment in China?
w18764 Veronika K. Pool
Clemens Sialm
Irina Stefanescu

It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans
w18766 Jaromir Nosal
Guillermo Ordoñez

Uncertainty as Commitment
w18727 Daron Acemoglu
Asuman Ozdaglar
Alireza Tahbaz-Salehi

Systemic Risk and Stability in Financial Networks
w18732 Gary B. Gorton
Guillermo Ordoñez

The Supply and Demand for Safe Assets
w18733 James R. Barth
Gerard Caprio
Jr.
Ross Levine

Bank Regulation and Supervision in 180 Countries from 1999 to 2011
w18686 Robin Greenwood
Andrei Shleifer

Expectations of Returns and Expected Returns
w18665 David Card
Stefano DellaVigna

Nine Facts about Top Journals in Economics
w18675 Olivier Jeanne
Anton Korinek

Macroprudential Regulation Versus Mopping Up After the Crash
w18677 Alex Edmans
William Mann

Financing Through Asset Sales
2012
w18634 Nolan Miller
Alexander F. Wagner
Richard J. Zeckhauser

Solomonic Separation: Risk Decisions as Productivity Indicators
w18611 Gary Gorton
Andrew Metrick

Securitization
w18592 Xavier Giroud
Holger M. Mueller

Capital and Labor Reallocation Inside Firms
w18600 Jennie Bai
Shang-Jin Wei

When Is There a Strong Transfer Risk from the Sovereigns to the Corporates? Property Rights Gaps and CDS Spreads
w18609 Sumit Agarwal
Efraim Benmelech
Nittai Bergman
Amit Seru

Did the Community Reinvestment Act (CRA) Lead to Risky Lending?
w18561 Kalina Manova
Zhihong Yu

How Firms Export: Processing vs. Ordinary Trade with Financial Frictions
w18537 Robin Greenwood
Augustin Landier
David Thesmar

Vulnerable Banks
w18547 Harrison Hong
David Sraer

Quiet Bubbles
w18548 Harrison Hong
David Sraer

Speculative Betas
w18549 Tobias Adrian
Brian Begalle
Adam Copeland
Antoine Martin

Repo and Securities Lending
w18528 Victoria Ivashina
David S. Scharfstein
Jeremy C. Stein

Dollar Funding and the Lending Behavior of Global Banks
w18505 Lars Peter Hansen
Challenges in Identifying and Measuring Systemic Risk
w18513 Zhiguo He
Asaf Manela

Information Acquisition in Rumor Based Bank Runs
w18516 Viral V. Acharya
Ramin P. Baghai
Krishnamurthy V. Subramanian

Wrongful Discharge Laws and Innovation
w18463 Dean Karlan
Robert Darko Osei
Isaac Osei-Akoto
Christopher Udry

Agricultural Decisions after Relaxing Credit and Risk Constraints
w18465 Kristin Forbes
The "Big C": Identifying Contagion
w18472 Jesse Edgerton
Investment, Accounting, and the Salience of the Corporate Income Tax
w18476 Harrison Hong
Jeffrey D. Kubik
Jose A. Scheinkman

Financial Constraints on Corporate Goodness
w18450 Frederico Belo
Pierre Collin-Dufresne
Robert S. Goldstein

Endogenous Dividend Dynamics and the Term Structure of Dividend Strips
w18451 Pierre Collin-Dufresne
Vyacheslav Fos

Insider Trading, Stochastic Liquidity and Equilibrium Prices
w18452 Pierre Collin-Dufresne
Vyacheslav Fos

Do prices reveal the presence of informed trading?
w18455 Gary B. Gorton
Andrew Metrick

Who Ran on Repo?
w18435 Kewei Hou
Chen Xue
Lu Zhang

Digesting Anomalies: An Investment Approach
w18427 Charles W. Calomiris
Joseph R. Mason
Marc Weidenmier
Katherine Bobroff

The Effects of Reconstruction Finance Corporation Assistance on Michigan's Banks' Survival in the 1930s
w18428 Joon-Ho Hahm
Hyun Song Shin
Kwanho Shin

Non-Core Bank Liabilities and Financial Vulnerability
w18408 Zhiguo He
Konstantin Milbradt

Endogenous Liquidity and Defaultable Bonds
w18398 Markus K. Brunnermeier
Martin Oehmke

Bubbles, Financial Crises, and Systemic Risk
w18394 John Y. Campbell
Tarun Ramadorai
Benjamin Ranish

How Do Regulators Influence Mortgage Risk: Evidence from an Emerging Market
w18397 Gary B. Gorton
Some Reflections on the Recent Financial Crisis
w18395 Steven N. Kaplan
Executive Compensation and Corporate Governance in the U.S.: Perceptions, Facts and Challenges
w18356 Jongha Lim
Bernadette A. Minton
Michael Weisbach

Syndicated Loan Spreads and the Composition of the Syndicate
w18358 Michael J. Fishman
Jonathan A. Parker

Valuation, Adverse Selection, and Market Collapses
w18367 Hui Chen
Yu Xu
Jun Yang

Systematic Risk, Debt Maturity, and the Term Structure of Credit Spreads
w18311 Sumit Agarwal
Gene Amromin
Itzhak Ben-David
Souphala Chomsisengphet
Tomasz Piskorski
Amit Seru

Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program
w18335 Tobias Adrian
Paolo Colla
Hyun Song Shin

Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007-9
w18346 Gordon M. Phillips
Alexei Zhdanov

R&D and the Incentives from Merger and Acquisition Activity
w18339 John Y. Campbell
Mortgage Market Design
w18304 Efraim Benmelech
An Empirical Analysis of the Fed's Term Auction Facility
w18321 Ralph S.J. Koijen
Motohiro Yogo

The Cost of Financial Frictions for Life Insurers
w18325 Dean Karlan
Ryan Knight
Christopher Udry

Hoping to Win, Expected to Lose: Theory and Lessons on Micro Enterprise Development
w18270 Craig B. Merrill
Taylor D. Nadauld
René M. Stulz
Shane Sherlund

Did Capital Requirements and Fair Value Accounting Spark Fire Sales in Distressed Mortgage-Backed Securities?
w18263 Florian Heider
Alexander Ljungqvist

As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from Exogenous State Tax Changes
w18264 Carola Frydman
Eric Hilt
Lily Y. Zhou

Economic Effects of Runs on Early 'Shadow Banks': Trust Companies and the Impact of the Panic of 1907
w18241 Leonardo Bursztyn
Florian Ederer
Bruno Ferman
Noam Yuchtman

Understanding Peer Effects in Financial Decisions: Evidence from a Field Experiment
w18242 Malcolm Baker
Jeffrey Wurgler

Dividends as Reference Points: A Behavioral Signaling Approach
w18217 Zhiguo He
Péter Kondor

Inefficient Investment Waves
w18208 Jennifer Brown
David A. Matsa

Boarding a Sinking Ship? An Investigation of Job Applications to Distressed Firms
w18211 Ulrike Malmendier
Marcus Matthias Opp
Farzad Saidi

Target Revaluation after Failed Takeover Attempts - Cash versus Stock
w18174 Nicola Gennaioli
Andrei Shleifer
Robert W. Vishny

Money Doctors
w18141 Paul Gompers
Vladimir Mukharlyamov
Yuhai Xuan

The Cost of Friendship
w18147 Murillo Campello
Erasmo Giambona

Real Assets and Capital Structure
w18148 Stewart C. Myers
James A. Read
Jr.

Real Options, Taxes and Financial Leverage
w18160 Douglas W. Diamond
Zhiguo He

A Theory of Debt Maturity: The Long and Short of Debt Overhang
w18154 Loukas Karabarbounis
Brent Neiman

Declining Labor Shares and the Global Rise of Corporate Saving
w18120 Lee Pinkowitz
René M. Stulz
Rohan Williamson

Multinationals and the High Cash Holdings Puzzle
w18102 Markus K. Brunnermeier
Thomas M. Eisenbach
Yuliy Sannikov

Macroeconomics with Financial Frictions: A Survey
w18107 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Trade Credit and Taxes
w18080 Edward Kutsoati
Randall Morck

Family Ties, Inheritance Rights, and Successful Poverty Alleviation: Evidence from Ghana
w18095 Raymond Fisman
Florian Schulz
Vikrant Vig

Private Returns to Public Office
w18096 Raymond Fisman
Daniel Paravisini
Vikrant Vig

Cultural Proximity and Loan Outcomes
w18052 Kristin Forbes
Marcel Fratzscher
Thomas Kostka
Roland Straub

Bubble Thy Neighbor: Portfolio Effects and Externalities from Capital Controls
w18063 Robert Novy-Marx
Pseudo-Predictability in Conditional Asset Pricing Tests: Explaining Anomaly Performance with Politics, the Weather, Global Warming, Sunspots, and the Stars
w18077 Thomas Philippon
Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation
w18050 Martijn Cremers
Antti Petajisto
Eric Zitzewitz

Should Benchmark Indices Have Alpha? Revisiting Performance Evaluation
w18043 Armen Hovakimian
Edward J. Kane
Luc Laeven

Tracking Variation in Systemic Risk at US Banks During 1974-2013
w18027 Raghuram Rajan
Rodney Ramcharan

The Anatomy of a Credit Crisis: The Boom and Bust in Farm Land Prices in the United States in the 1920s.
w18024 Ulrike Malmendier
Enrico Moretti
Florian S. Peters

Winning by Losing: Evidence on the Long-Run Effects of Mergers
w18001 Robert Davidson
Aiyesha Dey
Abbie J. Smith

Executives' "Off-The-Job" Behavior, Corporate Culture, and Financial Reporting Risk
w18004 Asli Demirguc-Kunt
Erik Feyen
Ross Levine

The Evolving Importance of Banks and Securities Markets
w17935 Zhiguo He
Wei Xiong

Debt Financing in Asset Markets
w17940 David Yermack
Tailspotting: Identifying and profiting from CEO vacation trips
w17942 David T. Robinson
Berk A. Sensoy

Do Private Equity Managers Earn Their Fees? Compensation, Ownership, and Cash Flow Performance
w17945 Steven Grenadier
Andrey Malenko
Ilya A. Strebulaev

Investment Busts, Reputation, and the Temptation to Blend in with the Crowd
w17946 Ilya A. Strebulaev
Baozhong Yang

The Mystery of Zero-Leverage Firms
w17947 Pedro Bordalo
Nicola Gennaioli
Andrei Shleifer

Salience and Consumer Choice
w17950 Robert G. Eccles
Ioannis Ioannou
George Serafeim

The Impact of Corporate Sustainability on Organizational Processes and Performance
w17952 Dean Karlan
Melanie Morten
Jonathan Zinman

A Personal Touch: Text Messaging for Loan Repayment
w17929 Sendhil Mullainathan
Markus Noeth
Antoinette Schoar

The Market for Financial Advice: An Audit Study
w17921 Ing-Haw Cheng
Andrei Kirilenko
Wei Xiong

Convective Risk Flows in Commodity Futures Markets
w17920 Zhiguo He
Gregor Matvos

Debt and Creative Destruction: Why Could Subsidizing Corporate Debt be Optimal?
w17909 Charles A.E. Goodhart
Anil K Kashyap
Dimitrios P. Tsomocos
Alexandros P. Vardoulakis

Financial Regulation in General Equilibrium
w17902 Diego A. Comin
An Exploration of Luxury Hotels in Tanzania
w17904 Nikolai Roussanov
Pavel G. Savor

Status, Marriage, and Managers' Attitudes To Risk
w17883 Gharad T. Bryan
Dean Karlan
Jonathan Zinman

Referrals: Peer Screening and Enforcement in a Consumer Credit Field Experiment
w17889 Timothy F. Bresnahan
Jonathan D. Levin

Vertical Integration and Market Structure
w17895 Bruce Ian Carlin
Florian Ederer

Search Fatigue
w17858 Juliano J. Assunção
Efraim Benmelech
Fernando S. S. Silva

Repossession and the Democratization of Credit
w17856 Jongha Lim
Bernadette A. Minton
Michael S. Weisbach

Equity-Holding Institutional Lenders: Do they Receive Better Terms?
w17867 Isil Erel
Yeejin Jang
Michael S. Weisbach

Financing-Motivated Acquisitions
w17868 Charles W. Calomiris
Doron Nissim

Crisis-Related Shifts in the Market Valuation of Banking Activities
w17874 Robert S. Harris
Tim Jenkinson
Steven N. Kaplan

Private Equity Performance: What Do We Know?
w17846 Maria Guadalupe
Hongyi Li
Julie Wulf

Who Lives in the C-Suite? Organizational Structure and the Division of Labor in Top Management
w17854 Kay Giesecke
Francis A. Longstaff
Stephen Schaefer
Ilya Strebulaev

Macroeconomic Effects of Corporate Default Crises: A Long-Term Perspective
w17822 Shekhar Aiyar
Charles W. Calomiris
Tomasz Wieladek

Does Macro-Pru Leak? Evidence from a UK Policy Experiment
w17828 Franklin Allen
Jun "QJ" Qian
Chenying Zhang
Mengxin Zhao

China's Financial System: Opportunities and Challenges
w17830 Atif R. Mian
Amir Sufi

What explains high unemployment? The aggregate demand channel
w17831 Atif R. Mian
Amir Sufi
Francesco Trebbi

Resolving Debt Overhang: Political Constraints in the Aftermath of Financial Crises
w17832 Manuel Adelino
Antoinette Schoar
Felipe Severino

Credit Supply and House Prices: Evidence from Mortgage Market Segmentation
w17838 Viral V. Acharya
Nada Mora

Are Banks Passive Liquidity Backstops? Deposit Rates and Flows during the 2007-2009 Crisis
w17797 Bo Becker
Daniel Bergstresser
Guhan Subramanian

Does Shareholder Proxy Access Improve Firm Value? Evidence from the Business Roundtable Challenge
w17805 Murillo Campello
Dirk Hackbarth

The Firm-Level Credit Multiplier
w17760 Raghuram Rajan
The Corporation in Finance
w17761 Pedro Bordalo
Nicola Gennaioli
Andrei Shleifer

Salience in Experimental Tests of the Endowment Effect
w17763 Juan Carlos Gozzi
Ross Levine
Maria Soledad Martinez Peria
Sergio L. Schmukler

How Firms Use Domestic and International Corporate Bond Markets
w17768 Arvind Krishnamurthy
Stefan Nagel
Dmitry Orlov

Sizing Up Repo
w17769 Leonid Kogan
Dimitris Papanikolaou
Amit Seru
Noah Stoffman

Technological Innovation, Resource Allocation, and Growth
w17770 Jason M. DeBacker
Bradley T. Heim
Anh Tran

Importing Corruption Culture from Overseas: Evidence from Corporate Tax Evasion in the United States
w17771 Gary B. Gorton
Guillermo Ordonez

Collateral Crises
w17777 Gary B. Gorton
Stefan Lewellen
Andrew Metrick

The Safe-Asset Share
w17778 Gary B. Gorton
Andrew Metrick

Getting up to Speed on the Financial Crisis: A One-Weekend-Reader's Guide
w17731 Serguey Braguinsky
Sergey V. Mityakov

Foreign Corporations and the Culture of Transparency: Evidence from Russian Administrative Data
w17736 Sumit Agarwal
David Lucca
Amit Seru
Francesco Trebbi

Inconsistent Regulators: Evidence From Banking
2011
w17717 Gregor Matvos
Amit Seru

Resource Allocation within Firms and Financial Market Dislocation: Evidence from Diversified Conglomerates
w17719 Philip Bond
Alex Edmans
Itay Goldstein

The Real Effects of Financial Markets
w17687 Joseph Fan
Randall Morck
Bernard Yeung

Capitalizing China
w17691 Nicolas Coeurdacier
Hélène Rey

Home Bias in Open Economy Financial Macroeconomics
w17696 Viral V. Acharya
Bart M. Lambrecht

A Theory of Income Smoothing When Insiders Know More Than Outsiders
w17663 Dirk Jenter
Katharina Lewellen

CEO Preferences and Acquisitions
w17660 Martin Goetz
Luc Laeven
Ross Levine

The Valuation Effects of Geographic Diversification: Evidence from U.S. Banks
w17661 Bo Becker
Per Strömberg

Fiduciary Duties and Equity-Debtholder Conflicts
w17652 Emiliano Pagnotta
Thomas Philippon

Competing on Speed
w17631 Hui Tong
Shang-Jin Wei

Does Trade Globalization Induce or Inhibit Corporate Transparency? Unbundling the Growth Potential and Product Market Competition Channels
w17615 Marcin Kacperczyk
Stijn Van Nieuwerburgh
Laura Veldkamp

Time-Varying Fund Manager Skill
w17599 Patrick Bolton
Martin Oehmke

Should Derivatives be Privileged in Bankruptcy?
w17606 Alex Edmans
Itay Goldstein
John Y. Zhu

Contracting With Synergies
w17582 Alex Edmans
Itay Goldstein
Wei Jiang

Feedback Effects and the Limits to Arbitrage
w17590 Antoinette Schoar
Luo Zuo

Shaped by Booms and Busts: How the Economy Impacts CEO Careers and Management Styles
w17558 Viral V. Acharya
A Transparency Standard for Derivatives
w17567 Alex Edmans
Vivian W. Fang
Emanuel Zur

The Effect of Liquidity on Governance
w17568 Wonho Wilson Choi
Andrew Metrick
Ayako Yasuda

A Model of Private Equity Fund Compensation
w17542 Viral V. Acharya
Raghuram G. Rajan

Sovereign Debt, Government Myopia, and the Financial Sector
w17545 Ernst Fehr
Oliver D. Hart
Christian Zehnder

How Do Informal Agreements and Renegotiation Shape Contractual Reference Points?
w17548 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

A Theory of Asset Pricing Based on Heterogeneous Information
w17518 Todd A. Gormley
Simon Johnson
Changyong Rhee

Ending "Too Big To Fail": Government Promises vs. Investor Perceptions
w17522 Kristian Rydqvist
Joshua Spizman
Ilya A. Strebulaev

Government Policy and Ownership of Financial Assets
w17523 Marco Da Rin
Thomas F. Hellmann
Manju Puri

A survey of venture capital research
w17516 John Y. Campbell
João F. Cocco

A Model of Mortgage Default
w17517 Alon Brav
Wei Jiang
Hyunseob Kim

The Real Effects of Hedge Fund Activism: Productivity, Asset Allocation, and Labor Outcomes
w17506 Alp Simsek
Speculation and Risk Sharing with New Financial Assets
w17509 Miriam Schwartz-Ziv
Michael Weisbach

What do Boards Really Do? Evidence from Minutes of Board Meetings
w17454 Tobias Adrian
Markus K. Brunnermeier

CoVaR
w17481 Bo Becker
Marcus Jacob
Martin Jacob

Payout Taxes and the Allocation of Investment
w17463 Asli M. Arikan
René M. Stulz

Corporate Acquisitions, Diversification, and the Firm's Lifecycle
w17468 Efraim Benmelech
Eyal Dvir

Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis
w17416 Jules H. van Binsbergen
Wouter Hueskes
Ralph Koijen
Evert B. Vrugt

Equity Yields
w17422 Jakub W. Jurek
Erik Stafford

Crashes and Collateralized Lending
w17428 David T. Robinson
Berk A. Sensoy

Cyclicality, Performance Measurement, and Cash Flow Liquidity in Private Equity
w17392 Bo Becker
Victoria Ivashina

Cyclicality of Credit Supply: Firm Level Evidence
w17393 Bo Becker
Henrik Cronqvist
Rüdiger Fahlenbrach

Estimating the Effects of Large Shareholders Using a Geographic Instrument
w17394 John Asker
Joan Farre-Mensa
Alexander Ljungqvist

Comparing the Investment Behavior of Public and Private Firms
w17399 Steven J. Davis
John C. Haltiwanger
Ron S. Jarmin
Josh Lerner
Javier Miranda

Private Equity and Employment
w17351 Kristin J. Forbes
Francis E. Warnock

Capital Flow Waves: Surges, Stops, Flight, and Retrenchment
w17370 John R. Graham
Campbell R. Harvey
Manju Puri

Capital Allocation and Delegation of Decision-Making Authority within Firms
w17315 Gene Amromin
Jennifer Huang
Clemens Sialm
Edward Zhong

Complex Mortgages
w17303 Carola Frydman
Raven Molloy

Pay Cuts for the Boss: Executive Compensation in the 1940s
w17299 Oliver D. Hart
Luigi Zingales

Inefficient Provision of Liquidity
w17305 Takero Doi
Takeo Hoshi
Tatsuyoshi Okimoto

Japanese Government Debt and Sustainability of Fiscal Policy
w17321 Marcin Kacperczyk
Philipp Schnabl

Implicit Guarantees and Risk Taking: Evidence from Money Market Funds
w17330 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

Information Aggregation, Investment, and Managerial Incentives
w17333 Malcolm Baker
Jeffrey Wurgler

Behavioral Corporate Finance: An Updated Survey
w17290 Armen Hovakimian
Ayla Kayhan
Sheridan Titman

Are Corporate Default Probabilities Consistent with the Static Tradeoff Theory?
w17285 Xiaoji Lin
Lu Zhang

Covariances versus Characteristics in General Equilibrium
w17292 Clemens Sialm
T. Mandy Tham

Spillover Effects in Mutual Fund Companies
w17266 Raghuram G. Rajan
Rodney Ramcharan

Constituencies and Legislation: The Fight over the McFadden Act of 1927
w17269 Isil Erel
Taylor D. Nadauld
René M. Stulz

Why Did U.S. Banks Invest in Highly-Rated Securitization Tranches?
w17233 Gordon M. Phillips
Giorgo Sertsios

How Do Firm Financial Conditions Affect Product Quality and Pricing?
w17238 Jie (Jack) He
Jun 'QJ' Qian
Philip E. Strahan

Are All Ratings Created Equal? The Impact of Issuer Size on the Pricing of Mortgage-backed Securities
w17221 Gerard Hoberg
Gordon M. Phillips

Conglomerate Industry Choice and Product Differentiation
w17191 Francois Gourio
Leena Rudanko

Customer Capital
w17192 Efraim Benmelech
Nittai K. Bergman
Ricardo Enriquez

Negotiating with Labor Under Financial Distress
w17197 Robin Greenwood
Samuel G. Hanson

Issuer Quality and the Credit Cycle
w17199 Ngoc-Khanh Tran
Richard J. Zeckhauser

The Behavior of Savings and Asset Prices When Preferences and Beliefs are Heterogeneous
w17202 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Tax Policy and the Efficiency of U.S. Direct Investment Abroad
w17181 Thomas Åstebro
Carlos J. Serrano

Business Partners, Financing, and the Commercialization of Inventions
w17186 Konrad B. Burchardi
Tarek Alexander Hassan

The Economic Impact of Social Ties: Evidence from German Reunification
w17169 Chongyang Chen
Zhonglan Dai
Douglas Shackelford
Harold Zhang

Does Financial Constraint Affect Shareholder Taxes and the Cost of Equity Capital?
w17122 Yael V. Hochberg
Joshua D. Rauh

Local Overweighting and Underperformance: Evidence from Limited Partner Private Equity Investments
w17127 Lucian A. Bebchuk
Alma Cohen
Charles C.Y. Wang

Staggered Boards and the Wealth of Shareholders: Evidence from Two Natural Experiments
w17136 Viral V. Acharya
Itamar Drechsler
Philipp Schnabl

A Pyrrhic Victory? - Bank Bailouts and Sovereign Credit Risk
w17144 Efraim Benmelech
Nittai K. Bergman
Amit Seru

Financing Labor
w17146 Leora F. Klapper
Luc Laeven
Raghuram Rajan

Trade Credit Contracts
w17115 Nicola Gennaioli
Andrei Shleifer
Robert W. Vishny

A Model of Shadow Banking
w17091 Pol Antràs
C. Fritz Foley

Poultry in Motion: A Study of International Trade Finance Practices
w17061 Antoinette Schoar
Ebonya L. Washington

Are the Seeds of Bad Governance Sown in Good Times?
w17064 Harold L. Cole
Felix Kubler

Recursive Contracts, Lotteries and Weakly Concave Pareto Sets
w17065 Christopher J. Mayer
Edward Morrison
Tomasz Piskorski
Arpit Gupta

Mortgage Modification and Strategic Behavior: Evidence from a Legal Settlement with Countrywide
w17038 Rüdiger Fahlenbrach
Robert Prilmeier
René M. Stulz

This Time Is the Same: Using Bank Performance in 1998 to Explain Bank Performance During the Recent Financial Crisis
w17041 Erik Hurst
Benjamin Wild Pugsley

What Do Small Businesses Do?
w17010 Mike Burkart
Denis Gromb
Holger M. Mueller
Fausto Panunzi

Legal Investor Protection and Takeovers
w17026 Francois Gourio
Credit Risk and Disaster Risk
w16995 Viral V. Acharya
Sergei A. Davydenko
Ilya A. Strebulaev

Cash Holdings and Credit Risk
w16967 Manju Puri
Jörg Rocholl
Sascha Steffen

Global retail lending in the aftermath of the US financial crisis: Distinguishing between supply and demand effects
w16975 Daniel Paravisini
Veronica Rappoport
Philipp Schnabl
Daniel Wolfenzon

Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data
w16979 Fiorella De Fiore
Harald Uhlig

Bank Finance Versus Bond Finance
w16922 Thomas F. Hellmann
Noam Wasserman

The First Deal: The Division of Founder Equity in New Ventures
w16923 Laura Bottazzi
Marco Da Rin
Thomas F. Hellmann

The Importance of Trust for Investment: Evidence from Venture Capital
w16929 Oliver D. Hart
Noncontractible Investments and Reference Points
w16941 Isil Erel
Brandon Julio
Woojin Kim
Michael S. Weisbach

Macroeconomic Conditions and Capital Raising
w16916 Craig Doidge
G. Andrew Karolyi
René M. Stulz

The U.S. Left Behind: The Rise of IPO Activity Around the World
w16918 Josh Lerner
Ulrike Malmendier

With a Little Help from My (Random) Friends: Success and Failure in Post-Business School Entrepreneurship
w16899 Patrick Bolton
Olivier Jeanne

Sovereign Default Risk and Bank Fragility in Financially Integrated Economies
w16896 Viral V. Acharya
Irvind Gujral
Nirupama Kulkarni
Hyun Song Shin

Dividends and Bank Capital in the Financial Crisis of 2007-2009
w16883 Jeremy C. Stein
Monetary Policy as Financial-Stability Regulation
w16870 Randall Morck
Finance and Governance in Developing Economies
w16871 Yongheng Deng
Randall Morck
Jing Wu
Bernard Yeung

Monetary and Fiscal Stimuli, Ownership Structure, and China's Housing Market
w16874 Vikas Mehrotra
Randall Morck
Jungwook Shim
Yupana Wiwattanakantang

Adoptive Expectations: Rising Sons in Japanese Family Firms
w16875 Viral V. Acharya
Lars A. Lochstoer
Tarun Ramadorai

Limits to Arbitrage and Hedging: Evidence from Commodity Markets
w16842 Yingcong Lan
Neng Wang
Jinqiang Yang

The Economics of Hedge Funds: Alpha, Fees, Leverage, and Valuation
w16843 Chong Wang
Neng Wang
Jinqiang Yang

A Unified Model of Entrepreneurship Dynamics
w16849 Taylor D. Nadauld
Michael S. Weisbach

Did Securitization Affect the Cost of Corporate Debt?
w16804 Patrick Bolton
Tano Santos
Jose A. Scheinkman

Cream Skimming in Financial Markets
w16808 Patrick Bolton
Hui Chen
Neng Wang

Market Timing, Investment, and Risk Management
w16812 Carola Frydman
Raven S. Molloy

Does Tax Policy Affect Executive Compensation? Evidence from Postwar Tax Reforms
w16780 Josh Lerner
Peter Tufano

The Consequences of Financial Innovation: A Counterfactual Research Agenda
w16787 Santiago Carbo-Valverde
Edward J. Kane
Francisco Rodriguez-Fernandez

Safety-Net Benefits Conferred on Difficult-to-Fail-and-Unwind Banks in the US and EU Before and During the Great Recession
w16766 Efraim Benmelech
Jennifer Dlugosz
Victoria Ivashina

Securitization without Adverse Selection: The Case of CLOs
w16770 Ravi Jagannathan
Iwan Meier
Vefa Tarhan

The Cross-Section of Hurdle Rates for Capital Budgeting: An Empirical Analysis of Survey Data
w16724 Heitor Almeida
Murillo Campello
Dirk Hackbarth

Liquidity Mergers
w16727 Thomas Philippon
Philipp Schnabl

Informational Rents, Macroeconomic Rents, and Efficient Bailouts
w16737 Hans B. Christensen
Luzi Hail
Christian Leuz

Capital-Market Effects of Securities Regulation: Prior Conditions, Implementation, and Enforcement
w16747 Laura Xiaolei Liu
Lu Zhang

A Model of Momentum
w16678 Randall Morck
Bernard Yeung

Economics, History, and Causation
w16676 Jesse Ellis
Sara B. Moeller
Frederik P. Schlingemann
René M. Stulz

Globalization, Governance, and the Returns to Cross-Border Acquisitions
2010
w16642 Andrei Shleifer
Robert W. Vishny

Fire Sales in Finance and Macroeconomics
w16652 Andrew Metrick
Ayako Yasuda

Venture Capital and Other Private Equity: A Survey
w16622 Murillo Campello
Chen Lin
Yue Ma
Hong Zou

The Real and Financial Implications of Corporate Hedging
w16620 Julio J. Rotemberg
A Behavioral Model of Demandable Deposits and its Implications for Financial Regulation
w16607 Markus K. Brunnermeier
Martin Oehmke

The Maturity Rat Race
w16595 Gabriel Jiménez
Atif R. Mian
José-Luis Peydró
Jesús Saurina

Local Versus Aggregate Lending Channels: The Effects Of Securitization On Corporate Credit Supply In Spain
w16585 Carola Frydman
Dirk Jenter

CEO Compensation
w16574 Vicente Cuñat
Mireia Gine
Maria Guadalupe

The Vote is Cast: The Effect of Corporate Governance on Shareholder Value
w16577 Jonathan A. Parker
Annette Vissing-Jorgensen

The Increase in Income Cyclicality of High-Income Households and its Relation to the Rise in Top Income Shares
w16553 Priyank Gandhi
Hanno Lustig

Size Anomalies in U.S. Bank Stock Returns: A Fiscal Explanation
w16558 Randall Morck
Shareholder Democracy in Canada
w16559 Charles W. Calomiris
Inessa Love
Maria Soledad Martinez Peria

Crisis "Shock Factors" and the Cross-Section of Global Equity Returns
w16521 James A. Brander
Qianqian Du
Thomas F. Hellmann

The Effects of Government-Sponsored Venture Capital: International Evidence
w16497 Xavier Giroud
Holger M. Mueller
Alex Stomper
Arne Westerkamp

Snow and Leverage
w16484 Viral V. Acharya
Ramin P. Baghai
Krishnamurthy V. Subramanian

Labor Laws and Innovation
w16485 Viral V. Acharya
Peter M. DeMarzo
Ilan Kremer

Endogenous Information Flows and the Clustering of Announcements
w16490 Randall Morck
Bernard Yeung

Agency Problems and the Fate of Capitalism
w16437 Lauren Cohen
Christopher Malloy

Friends in High Places
w16445 Joseph P.H. Fan
Sheridan Titman
Garry Twite

An International Comparison of Capital Structure and Debt Maturity Choices
w16404 Bo Becker
Todd Milbourn

How did increased competition affect credit ratings?
w16387 Pedro Bordalo
Nicola Gennaioli
Andrei Shleifer

Salience Theory of Choice Under Risk
w16395 Viral V. Acharya
Ouarda Merrouche

Precautionary Hoarding of Liquidity and Inter-Bank Markets: Evidence from the Sub-prime Crisis
w16369 Ji-Woong Chung
Berk A. Sensoy
Lea H. Stern
Michael S. Weisbach

Pay for Performance from Future Fund Flows: The Case of Private Equity
w16376 Jeffrey Wurgler
On the Economic Consequences of Index-Linked Investing
w16328 Ron Kaniel
Cade Massey
David T. Robinson

The Importance of Being an Optimist: Evidence from Labor Markets
w16335 Steven N. Kaplan
Tobias J. Moskowitz
Berk A. Sensoy

The Effects of Stock Lending on Security Prices: An Experiment
w16336 Frederico Belo
Chen Xue
Lu Zhang

Cross-sectional Tobin's Q
w16340 Vikas Mehrotra
Randall Morck
Jungwook Shim
Yupana Wiwattanakantang

Must Love Kill the Family Firm?
w16309 Murillo Campello
Erasmo Giambona
John R. Graham
Campbell R. Harvey

Liquidity Management and Corporate Investment During a Financial Crisis
w16310 Kathleen M. Kahle
René M. Stulz

Financial Policies and the Financial Crisis: How Important Was the Systemic Credit Contraction for Industrial Corporations?
w16271 Bruce Ian Carlin
David T. Robinson

What Does Financial Literacy Training Teach Us?
w16272 Alicia M. Robb
David T. Robinson

The Capital Structure Decisions of New Firms
w16244 Kenneth A. Snowden
The Anatomy of a Residential Mortgage Crisis: A Look Back to the 1930s
w16242 Kenneth A. Snowden
Covered Farm Mortgage Bonds in the Late Nineteenth Century U.S.
w16210 Bart M. Lambrecht
Stewart C. Myers

A Litner Model of Payout and Managerial Rents
w16214 Ravi Jagannathan
Andrei Jirnyi
Ann Sherman

Why Don't Issuers Choose IPO Auctions? The Complexity of Indirect Mechanisms
w16215 Itzhak Ben-David
John R. Graham
Campbell R. Harvey

Managerial Miscalibration
w16191 Alberto Manconi
Massimo Massa
Ayako Yasuda

The Behavior of Intoxicated Investors: The role of institutional investors in propagating the crisis of 2007-2008
w16187 Bruce I. Carlin
Shimon Kogan

Trading Complex Assets
w16197 Ali Hortaçsu
Gregor Matvos
Chad Syverson
Sriram Venkataraman

Are Consumers Affected by Durable Goods Makers' Financial Distress? The Case of Auto Manufacturers
w16200 Efraim Benmelech
Nittai K. Bergman

Credit Traps
w16176 Ing-Haw Cheng
Harrison Hong
Jose A. Scheinkman

Yesterday's Heroes: Compensation and Creative Risk-Taking
w16177 Franklin Allen
Ana Babus
Elena Carletti

Financial Connections and Systemic Risk
w16178 Andrew Ellul
Vijay Yerramilli

Stronger Risk Controls, Lower Risk: Evidence from U.S. Bank Holding Companies
w16157 François Gourio
Jianjun Miao

Transitional Dynamics of Dividend and Capital Gains Tax Cuts
w16122 Viral V. Acharya
Heitor Almeida
Murillo Campello

Aggregate Risk and the Choice between Cash and Lines of Credit
w16094 Patrick Bolton
Christopher Harris

The Dynamics of Optimal Risk Sharing
w16066 Courtney C. Coile
Phillip B. Levine

Recessions, Reeling Markets, and Retiree Well-Being
w16068 Nicola Gennaioli
Andrei Shleifer
Robert W. Vishny

Neglected Risks, Financial Innovation, and Financial Fragility
w16079 Viral V. Acharya
Philipp Schnabl

Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007-09
w16080 V.V. Chari
Ali Shourideh
Ariel Zetlin-Jones

Adverse Selection, Reputation and Sudden Collapses in Secondary Loan Markets
w16085 Bruce Ian Carlin
Shaun William Davies
Andrew Miles Iannaccone

Competing for Attention in Financial Markets
w16060 Thomas Chaney
David Sraer
David Thesmar

The Collateral Channel: How Real Estate Shocks Affect Corporate Investment
w16063 Daniel Paravisini
Veronica Rappoport
Enrichetta Ravina

Risk Aversion and Wealth: Evidence from Person-to-Person Lending Portfolios
w16031 Lucian A. Bebchuk
Itay Goldstein

Self-Fulfilling Credit Market Freezes
w16042 Brock Mendel
Andrei Shleifer

Chasing Noise
w15999 Patrick Bolton
Martin Oehmke

Credit Default Swaps and the Empty Creditor Problem
w16023 Jules H. van Binsbergen
John Graham
Jie Yang

The Cost of Debt
w15987 Alex Edmans
Xavier Gabaix

Risk and the CEO Market: Why Do Some Large Firms Hire Highly-Paid, Low-Talent CEOs?
w15991 Gerard Hoberg
Gordon M. Phillips

Text-Based Network Industries and Endogenous Product Differentiation
w15992 Hernán Ortiz-Molina
Gordon M. Phillips

Asset Liquidity and the Cost of Capital
w15993 Huseyin Gulen
Yuhang Xing
Lu Zhang

Value versus Growth: Time-Varying Expected Stock Returns
w15956 Ross Levine
An Autopsy of the U.S. Financial System
w15948 Robin Greenwood
Samuel Hanson

Characteristic Timing
w15950 Jin Ginger Wu
Lu Zhang

Does Risk Explain Anomalies? Evidence from Expected Return Estimates
w15951 Heitor Almeida
Murillo Campello
Antonio F. Galvao Jr.

Measurement Errors in Investment Equations
w15952 Ulf Axelson
Tim Jenkinson
Per Strömberg
Michael S. Weisbach

Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts
w15919 Zhiguo He
In Gu Khang
Arvind Krishnamurthy

Balance Sheet Adjustments in the 2008 Crisis
w15906 John R. Graham
Campbell R. Harvey
Manju Puri

A Corporate Beauty Contest
w15910 Sergey Chernenko
C. Fritz Foley
Robin Greenwood

Agency Costs, Mispricing, and Ownership Structure
w15912 Lucian A. Bebchuk
Alma Cohen
Charles C.Y. Wang

Learning and the Disappearing Association Between Governance and Returns
w15917 Rüdiger Fahlenbrach
Angie Low
René M. Stulz

The dark side of outside directors: Do they quit when they are most needed?
w15900 Sebnem Kalemli-Ozcan
Bent Sørensen
Vadym Volosovych

Deep Financial Integration and Volatility
w15884 Randall Morck
Fan Yang

The Shanxi Banks
w15896 Atif R. Mian
Amir Sufi

Household Leverage and the Recession of 2007 to 2009
w15861 Jeffrey Brown
Stephen G. Dimmock
Jun-Koo Kang
Scott Weisbenner

How University Endowments Respond to Financial Market Shocks: Evidence and Implications
w15837 Viral V. Acharya
S. Viswanathan

Leverage, Moral Hazard and Liquidity
w15839 Lauren Cohen
Joshua D. Coval
Christopher Malloy

Do Powerful Politicians Cause Corporate Downsizing?
w15831 William R. Kerr
Josh Lerner
Antoinette Schoar

The Consequences of Entrepreneurial Finance: A Regression Discontinuity Analysis
w15833 Allaudeen Hameed
Randall Morck
Jianfeng Shen
Bernard Yeung

Information, analysts, and stock return comovement
w15806 Gara Afonso
Anna Kovner
Antoinette Schoar

Stressed not Frozen: The Fed Funds Market in the Financial Crisis
w15783 Robert S. Gibbons
Richard T. Holden
Michael L. Powell

Rational-Expectations Equilibrium in Intermediate Good Markets
w15785 Thomas Philippon
Vasiliki Skreta

Optimal Interventions in Markets with Adverse Selection
w15786 Liran Einav
Jonathan D. Levin

Empirical Industrial Organization: A Progress Report
w15787 Gary B. Gorton
Questions and Answers about the Financial Crisis
w15730 Viral V. Acharya
Philipp Schnabl
Gustavo Suarez

Securitization without risk transfer
w15735 Efraim Benmelech
Nittai K. Bergman

Vintage Capital and Creditor Protection
w15708 Efraim Benmelech
Nittai K. Bergman

Bankruptcy and the Collateral Channel
w15662 Ricardo Reis
Interpreting the Unconventional U.S. Monetary Policy of 2007-09
w15674 Viral V. Acharya
Douglas Gale
Tanju Yorulmazer

Rollover Risk and Market Freezes
w15652 Andrei Shleifer
Robert W. Vishny

Asset Fire Sales and Credit Easing
w15653 Zhiguo He
Wei Xiong

Rollover Risk and Credit Risk
w15659 Ulrike Malmendier
Geoffrey Tate
Jonathan Yan

Overconfidence and Early-life Experiences: The Impact of Managerial Traits on Corporate Financial Policies
w15632 Shai Bernstein
Josh Lerner
Morten Sørensen
Per Strömberg

Private Equity and Industry Performance
2009
w15614 Daniel Elfenbein
Raymond Fisman
Brian McManus

Reputation, Altruism, and the Benefits of Seller Charity in an Online Marketplace
w15575 Randall Morck
M. Deniz Yavuz
Bernard Yeung

Banking System Control, Capital Allocation, and Economy Performance
w15551 Malcolm Baker
Xin Pan
Jeffrey Wurgler

A Reference Point Theory of Mergers and Acquisitions
w15552 Murillo Campello
John Graham
Campbell R. Harvey

The Real Effects of Financial Constraints: Evidence from a Financial Crisis
w15567 Viral V. Acharya
Hyun Song Shin
Tanju Yorulmazer

Crisis Resolution and Bank Liquidity
w15568 Viral V. Acharya
Stewart C. Myers
Raghuram Rajan

The Internal Governance of Firms
w15569 Viral V. Acharya
Yakov Amihud
Lubomir Litov

Creditor rights and corporate risk-taking
w15542 Arvind Krishnamurthy
How Debt Markets have Malfunctioned in the Crisis
w15545 Alex Edmans
Xavier Gabaix

Tractability in Incentive Contracting
w15537 Lucian A. Bebchuk
Michael S. Weisbach

The State of Corporate Governance Research
w15538 Marcin Kacperczyk
Philipp Schnabl

When Safe Proved Risky: Commercial Paper During the Financial Crisis of 2007-2009
w15504 Ravi Bansal
Dana Kiku
Amir Yaron

An Empirical Evaluation of the Long-Run Risks Model for Asset Prices
w15515 Christian Laux
Christian Leuz

Did Fair-Value Accounting Contribute to the Financial Crisis?
w15479 Ricardo J. Caballero
Alp Simsek

Fire Sales in a Model of Complexity
w15482 Zhiguo He
Wei Xiong

Dynamic Debt Runs
w15458 Pietro Veronesi
Luigi Zingales

Paulson's Gift
w15447 Santiago Carbo-Valverde
Edward J. Kane
Francisco Rodriguez-Fernandez

Evidence of Regulatory Arbitrage in Cross-Border Mergers of Banks in the EU
w15448 Laura Alfaro
Anusha Chari

India Transformed? Insights from the Firm Level 1988-2005
w15449 Martijn Cremers
Roberta Romano

Institutional Investors and Proxy Voting on Compensation Plans: The Impact of the 2003 Mutual Fund Voting Disclosure Regulation
w15426 Gian Luca Clementi
Thomas F. Cooley

Executive Compensation: Facts
w15403 Charles Calomiris
Banking Crises and the Rules of the Game
w15384 René M. Stulz
Credit Default Swaps and the Credit Crisis
w15356 Stelios Michalopoulos
Luc Laeven
Ross Levine

Financial Innovation and Endogenous Growth
w15331 Dion Bongaerts
K.J. Martijn Cremers
William N. Goetzmann

Tiebreaker: Certification and Multiple Credit Ratings
w15319 Diego A. Comin
Bart Hobijn

The CHAT Dataset
w15324 Alex Edmans
Xavier Gabaix
Tomasz Sadzik
Yuliy Sannikov

Dynamic Incentive Accounts
w15325 Bronwyn H. Hall
Josh Lerner

The Financing of R&D and Innovation
w15304 Sharon Belenzon
Tomer Berkovitz
Patrick Bolton

Intracompany Governance and Innovation
w15273 Gary B. Gorton
Andrew Metrick

Haircuts
w15283 Atif R. Mian
Amir Sufi

House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis
w15223 Gary B. Gorton
Andrew Metrick

Securitized Banking and the Run on Repo
w15242 Rajkamal Iyer
Asim Ijaz Khwaja
Erzo F.P. Luttmer
Kelly Shue

Screening Peers Softly: Inferring the Quality of Small Borrowers
w15248 Michael Faulkender
Mitchell Petersen

Investment and Capital Constraints: Repatriations Under the American Jobs Creation Act
w15207 Hui Tong
Shang-Jin Wei

The Composition Matters: Capital Inflows and Liquidity Crunch during a Global Economic Crisis
w15212 Rüdiger Fahlenbrach
René M. Stulz

Bank CEO Incentives and the Credit Crisis
w15192 Gian Luca Clementi
Thomas F. Cooley
Sonia Di Giannatale

A Theory of Firm Decline
w15197 Douglas W. Diamond
Raghuram G. Rajan

Illiquidity and Interest Rate Policy
w15175 Bo Becker
Zoran Ivković
Scott Weisbenner

Local Dividend Clienteles
w15177 John R. Graham
Hyunseob Kim

The Effects of the Length of the Tax-Loss Carryback Period on Tax Receipts and Corporate Marginal Tax Rates
w15180 Andrea Beltratti
René M. Stulz

Why Did Some Banks Perform Better During the Credit Crisis? A Cross-Country Study of the Impact of Governance and Regulation
w15184 Stefano DellaVigna
Joshua M. Pollet

Capital Budgeting vs. Market Timing: An Evaluation Using Demographics
w15132 Isil Erel
Rose C. Liao
Michael S. Weisbach

World Markets for Mergers and Acquisitions
w15139 Bruce Ian Carlin
Simon Gervais
Gustavo Manso

When Does Libertarian Paternalism Work?
w15143 Cindy R. Alexander
Mark A. Chen
Duane J. Seppi
Chester S. Spatt

The Role of Advisory Services in Proxy Voting
w15145 Luigi Guiso
Paola Sapienza
Luigi Zingales

Moral and Social Constraints to Strategic Default on Mortgages
w15102 Henry Chen
Paul Gompers
Anna Kovner
Josh Lerner

Buy Local? The Geography of Successful and Unsuccessful Venture Capital Expansion
w15083 Raghuram G. Rajan
Rodney Ramcharan

Land and Credit: A Study of the Political Economy of Banking in the United States in the Early 20th Century
w15084 Nicola Gennaioli
Andrei Shleifer

What Comes to Mind
w15040 Arvind Krishnamurthy
Amplification Mechanisms in Liquidity Crises
w15038 Vincent Glode
Burton Hollifield
Marcin Kacperczyk
Shimon Kogan

Is Investor Rationality Time Varying? Evidence from the Mutual Fund Industry
w15042 Randall Morck
Bernard Yeung

Never Waste a Good Crisis: An Historical Perspective on Comparative Corporate Governance
w15044 Francois Gourio
Jianjun Miao

Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform
w15045 Efraim Benmelech
Jennifer Dlugosz

The Credit Rating Crisis
w15051 Randall Morck
Generalized Agency Problems
w15058 Stavros Panageas
Bailouts, the Incentive to Manage Risk, and Financial Crises
w15023 Dhammika Dharmapala
C. Fritz Foley
Kristin J. Forbes

Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act
w14972 Bruce I. Carlin
Simon Gervais

Legal Protection in Retail Financial Markets
w14983 Heitor Almeida
Sang Yong Park
Marti Subrahmanyam
Daniel Wolfenzon

The Structure and Formation of Business Groups: Evidence from Korean Chaebols
w14990 Heitor Almeida
Murillo Campello
Bruno Laranjeira
Scott Weisbenner

Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis
w14997 Ricardo J. Caballero
Alp Simsek

Complexity and Financial Panics
w14952 Isil Erel
Brandon Julio
Woojin Kim
Michael Weisbach

Market Conditions and the Structure of Securities
w14954 Bruce Ian Carlin
Gustavo Manso

Obfuscation, Learning, and the Evolution of Investor Sophistication
w14955 Bruce Ian Carlin
David T. Robinson

Fear and Loathing in Las Vegas: Evidence from Blackjack Tables
w14961 Juan Carlos Gozzi
Ross Levine
Sergio L. Schmukler

Patterns of International Capital Raisings
w14971 Roger K. Loh
René M. Stulz

When are Analyst Recommendation Changes Influential?
w14944 Gary B. Gorton
Lixin Huang
Qiang Kang

The Limitations of Stock Market Efficiency: Price Informativeness and CEO Turnover
w14943 Andrei Shleifer
Robert W. Vishny

Unstable Banking
w14931 Söhnke M. Bartram
Gregory Brown
René M. Stulz

Why Do Foreign Firms Have Less Idiosyncratic Risk than U.S. Firms?
w14929 Thomas Philippon
Philipp Schnabl

Efficient Recapitalization
w14925 Douglas W. Diamond
Raghuram G. Rajan

Fear of Fire Sales and the Credit Freeze
w14877 Xavier Giroud
Holger M. Mueller

Does Corporate Governance Matter in Competitive Industries?
w14878 Efraim Benmelech
Jennifer Dlugosz

The Alchemy of CDO Credit Ratings
w14881 Richard A. Lambert
Christian Leuz
Robert E. Verrecchia

Information Asymmetry, Information Precision, and the Cost of Capital
w14890 Darren J. Kisgen
Philip E. Strahan

Do Regulations Based on Credit Ratings Affect a Firm's Cost of Capital?
w14892 Eric Hilt
Wall Street's First Corporate Governance Crisis: The Panic of 1826
w14897 Christian Leuz
Catherine Schrand

Disclosure and the Cost of Capital: Evidence from Firms' Responses to the Enron Shock
w14903 Jennifer Huang
Clemens Sialm
Hanjiang Zhang

Risk Shifting and Mutual Fund Performance
w14898 Veronica Guerrieri
Péter Kondor

Fund Managers, Career Concerns, and Asset Price Volatility
w14858 Randall Morck
The Riddle of the Great Pyramids
w14861 Shai Bernstein
Josh Lerner
Antoinette Schoar

The Investment Strategies of Sovereign Wealth Funds
w14867 Patrick Bolton
Tano Santos
Jose A. Scheinkman

Outside and Inside Liquidity
w14845 Patrick Bolton
Hui Chen
Neng Wang

A Unified Theory of Tobin's q, Corporate Investment, Financing, and Risk Management
w14848 Hui Chen
Jianjun Miao
Neng Wang

Entrepreneurial Finance and Non-diversifiable Risk
w14813 Ulrike Malmendier
Stefan Nagel

Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking?
w14814 Ravi Bansal
Ivan Shaliastovich

Learning and Asset-Price Jumps
w14815 Ravi Bansal
Ivan Shaliastovich

Confidence Risk and Asset Prices
w14769 Philippe Aghion
John Van Reenen
Luigi Zingales

Innovation and Institutional Ownership
w14761 Vasiliki Skreta
Laura Veldkamp

Ratings Shopping and Asset Complexity: A Theory of Ratings Inflation
w14733 Jung-Wook Kim
Jason Lee
Randall Morck

Characteristics of Observed Limit Order Demand and Supply Schedules for Individual Stocks
w14735 Reint Gropp
Anil Kashyap

A New Metric for Banking Integration in Europe
w14739 Douglas W. Diamond
Raghuram Rajan

The Credit Crisis: Conjectures about Causes and Remedies
w14712 Patrick Bolton
Xavier Freixas
Joel Shapiro

The Credit Ratings Game
w14724 Leonce L. Bargeron
Frederik P. Schlingemann
René M. Stulz
Chad J. Zutter

Do Target CEOs Sell Out Their Shareholders to Keep Their Job in a Merger?
w14727 Markus K. Brunnermeier
Motohiro Yogo

A Note on Liquidity Risk Management
w14671 Phillip B. Levine
Diane Whitmore Schanzenbach

The Impact of Children's Public Health Insurance Expansions on Educational Outcomes
w14661 Hanno Lustig
Chad Syverson
Stijn Van Nieuwerburgh

Technological Change and the Growing Inequality in Managerial Compensation
w14644 Thomas Philippon
Ariell Reshef

Wages and Human Capital in the U.S. Financial Industry: 1909-2006
w14646 Lubos Pastor
Pietro Veronesi

Learning in Financial Markets
w14648 Philippe Aghion
Yann Algan
Pierre Cahuc
Andrei Shleifer

Regulation and Distrust
w14649 Gary B. Gorton
Information, Liquidity, and the (Ongoing) Panic of 2007
w14650 Joseph P.H. Fan
Jun Huang
Randall Morck
Bernard Yeung

Vertical Integration, Institutional Determinants and Impact: Evidence from China
w14654 Patrick Bolton
Antoine Faure-Grimaud

Satisficing Contracts
2008
w14613 Oliver Hart
Bengt Holmstrom

A Theory of Firm Scope
w14623 Josh Lerner
Morten Sørensen
Per Strömberg

Private Equity and Long-Run Investment: The Case of Innovation
w14612 Markus K. Brunnermeier
Deciphering the Liquidity and Credit Crunch 2007-08
w14576 Edward J. Kane
Rosalind Bennett
Robert Oshinsky

Evidence of Improved Monitoring and Insolvency Resolution after FDICIA
w14557 C. Fritz Foley
Robin Greenwood

The Evolution of Corporate Ownership After IPO: The Impact of Investor Protection
w14574 Zhiguo He
Wei Xiong

Delegated Asset Management, Investment Mandates, and Capital Immobility
w14517 Zhiguo He
Arvind Krishnamurthy

Intermediary Asset Pricing
w14501 Ernst Fehr
Oliver D. Hart
Christian Zehnder

Contracts as Reference Points - Experimental Evidence
w14486 Renée Adams
Benjamin E. Hermalin
Michael S. Weisbach

The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey
w14488 Joshua D. Rauh
Amir Sufi

Capital Structure and Debt Structure
w14457 Emmanuel Farhi
Josh Lerner
Jean Tirole

Fear of Rejection? Tiered Certification and Transparency
w14424 Geetesh Bhardwaj
Gary B. Gorton
K. Geert Rouwenhorst

Fooling Some of the People All of the Time: The Inefficient Performance and Persistence of Commodity Trading Advisors
w14408 Daron Acemoglu
Kostas Bimpikis
Asuman Ozdaglar

Experimentation, Patents, and Innovation
w14401 Takeo Hoshi
Anil K Kashyap

Will the U.S. Bank Recapitalization Succeed? Eight Lessons from Japan
w14398 Gary B. Gorton
The Subprime Panic
w14366 Zhiguo He
Arvind Krishnamurthy

A Model of Capital and Crises
w14341 Josh Lerner
Antoinette Schoar
Jialan Wang

Secrets of the Academy: The Drivers of University Endowment Success
w14342 Dongmei Li
Lu Zhang

Costly External Finance: Implications for Capital Markets Anomalies
w14343 Robert Novy-Marx
Joshua D. Rauh

The Intergenerational Transfer of Public Pension Promises
w14347 Raghuram G. Rajan
Rodney Ramcharan

Landed Interests and Financial Underdevelopment in the United States
w14358 Gary B. Gorton
The Panic of 2007
w14324 Josh Lerner
The Litigation of Financial Innovations
w14331 Phillip Leslie
Paul Oyer

Managerial Incentives and Value Creation: Evidence from Private Equity
w14339 Patrick Bolton
Markus K. Brunnermeier
Laura Veldkamp

Leadership, Coordination and Mission-Driven Management
w14280 Rajkamal Iyer
Manju Puri

Understanding Bank Runs: The Importance of Depositor-Bank Relationships and Networks
w14289 Gerard Hoberg
Gordon M. Phillips

Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis
w14290 Gerard Hoberg
Gordon M. Phillips

Real and Financial Industry Booms and Busts
w14291 Vojislav Maksimovic
Gordon Phillips
N. R. Prabhala

Post-Merger Restructuring and the Boundaries of the Firm
w14273 Ross Levine
Alexey Levkov
Yona Rubinstein

Racial Discrimination and Competition
w14245 Craig Doidge
G. Andrew Karolyi
René M. Stulz

Why Do Foreign Firms Leave U.S. Equity Markets?
w14250 Manju Puri
Rebecca Zarutskie

On the Lifecycle Dynamics of Venture-Capital- and Non-Venture-Capital-Financed Firms
w14218 René M. Stulz
Securities Laws, Disclosure, and National Capital Markets in the Age of Financial Globalization
w14232 Lauren Cohen
Andrea Frazzini
Christopher Malloy

Hiring Cheerleaders: Board Appointments of "Independent" Directors
w14202 Alberto F. Alesina
Francesca Lotti
Paolo Emilio Mistrulli

Do Women Pay More for Credit? Evidence from Italy
w14205 Hui Tong
Shang-Jin Wei

Real Effects of the Subprime Mortgage Crisis: Is it a Demand or a Finance Shock?
w14207 Steven N. Kaplan
Per Strömberg

Leveraged Buyouts and Private Equity
w14195 Steven N. Kaplan
Mark M. Klebanov
Morten Sorensen

Which CEO Characteristics and Abilities Matter?
w14180 Alexander Ljungqvist
Matthew Richardson
Daniel Wolfenzon

The Investment Behavior of Buyout Funds: Theory and Evidence
w14187 Shourun Guo
Edie S. Hotchkiss
Weihong Song

Do Buyouts (Still) Create Value?
w14189 Toby Stuart
Soojin Yim

Board Interlocks and the Propensity to be Targeted in Private Equity Transactions
w14140 Ulrike Malmendier
Geoffrey Tate

Superstar CEOs
w14144 Joost Driessen
Tse-Chun Lin
Ludovic Phalippou

A New Method to Estimate Risk and Return of Non-Traded Assets from Cash Flows: The Case of Private Equity Funds
w14145 Carola Frydman
Raven E. Saks

Executive Compensation: A New View from a Long-Term Perspective, 1936-2005
w14113 Luc Laeven
Ross Levine

Bank Governance, Regulation, and Risk Taking
w14083 Christopher J. Mayer
Karen Pence

Subprime Mortgages: What, Where, and to Whom?
w14085 Sharon Katz
Earnings Quality and Ownership Structure: The Role of Private Equity Sponsors
w14087 Robin Greenwood
Samuel Hanson
Jeremy C. Stein

A Gap-Filling Theory of Corporate Debt Maturity Choice
w14051 Eswar S. Prasad
Raghuram Rajan

A Pragmatic Approach to Capital Account Liberalization
w14059 Efraim Benmelech
Nittai K. Bergman

Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines
w14068 Nicole M. Boyson
Christof W. Stahel
Rene M. Stulz

Hedge Fund Contagion and Liquidity
w14027 Kathy Fogel
Randall Morck
Bernard Yeung

Big Business Stability and Social Welfare
w14029 James A. Brander
Edward Egan
Thomas F. Hellmann

Government Sponsored versus Private Venture Capital: Canadian Evidence
w13984 Jiandong Ju
Shang-Jin Wei

When Is Quality of Financial System a Source of Comparative Advantage?
w13936 Atif Mian
Amir Sufi

The Consequences of Mortgage Credit Expansion: Evidence from the 2007 Mortgage Default Crisis
w13908 Kristin J. Forbes
Why do Foreigners Invest in the United States?
w13914 Susan Perkins
Randall Morck
Bernard Yeung

Innocents Abroad: The Hazards of International Joint Ventures with Pyramidal Group Firms
w13874 Efraim Benmelech
Nittai K. Bergman

Collateral Pricing
w13880 Peter Blair Henry
Diego Sasson

Capital Account Liberalization, Real Wages, and Productivity
w13798 Philip Strahan
Liquidity Production in 21st Century Banking
w13802 Evan Gatev
Philip Strahan

Liquidity Risk and Syndicate Structure
w13774 Charles Calomiris
Raymond Fisman
Yongxiang Wang

Profiting from Government Stakes in a Command Economy: Evidence from Chinese Asset Sales
w13786 Joseph Chen
Samuel Hanson
Harrison Hong
Jeremy C. Stein

Do Hedge Funds Profit From Mutual-Fund Distress?
w13756 Simeon Djankov
Tim Ganser
Caralee McLiesh
Rita Ramalho
Andrei Shleifer

The Effect of Corporate Taxes on Investment and Entrepreneurship
w13762 Malcolm Baker
Robin Greenwood
Jeffrey Wurgler

Catering Through Nominal Share Prices
w13738 Marianne Bertrand
Simon Johnson
Krislert Samphantharak
Antoinette Schoar

Mixing Family With Business: A Study of Thai Business Groups and the Families Behind Them
w13721 Woochan Kim
Taeyoon Sung
Shang-Jin Wei

How Does Corporate Governance Risk at Home Affect Investment Choices Abroad?
w13732 Efraim Benmelech
Eugene Kandel
Pietro Veronesi

Stock-Based Compensation and CEO (Dis)Incentives
2007
w13701 Lucian A. Bebchuk
Martijn Cremers
Urs Peyer

CEO Centrality
w13702 Lucian A. Bebchuk
Zvika Neeman

Investor Protection and Interest Group Politics
w13706 Brandon Julio
Woojin Kim
Michael Weisbach

What Determines the Structure of Corporate Debt Issues?
w13708 John R. Graham
Si Li
Jiaping Qiu

Corporate Misreporting and Bank Loan Contracting
w13709 John R. Graham
Lillian F. Mills

Using Tax Return Data to Simulate Corporate Marginal Tax Rates
w13711 Itzhak Ben-David
John R. Graham
Campbell R. Harvey

Managerial Overconfidence and Corporate Policies
w13660 Andres Almazan
Adolfo de Motta
Sheridan Titman
Vahap Uysal

Financial Structure, Liquidity, and Firm Locations
w13641 Vladimir Atanasov
Vladimir Ivanov
Kate Litvak

The Impact of Litigation on Venture Capitalist Reputation
w13640 Murillo Campello
John Graham

Do Stock Prices Influence Corporate Decisions? Evidence from the Technology Bubble
w13636 Marco Da Rin
María Fabiana Penas

The Effect of Venture Capital on Innovation Strategies
w13608 Rafael La Porta
Florencio Lopez-de-Silanes
Andrei Shleifer

The Economic Consequences of Legal Origins
w13593 Edward J. Kane
Incentive Conflict In Central-Bank Responses to Sectoral Turmoil in Financial Hub Countries
w13597 Charles W. Calomiris
Bank Failures in Theory and History: The Great Depression and Other "Contagious" Events
w13601 Jennifer L. Blouin
Jana Smith Raedy
Douglas A. Shackelford

Did Firms Substitute Dividends for Share Repurchases after the 2003 Reductions in Shareholder Tax Rates?
w13570 Ulrike Malmendier
Geoffrey Tate
Jonathan Yan

Corporate Financial Policies With Overconfident Managers
w13584 Thomas Philippon
Yuliy Sannikov

Real Options in a Dynamic Agency Model, with Applications to Financial Development, IPOs, and Business Risk
w13560 Thomas Philippon
Financiers vs. Engineers: Should the Financial Sector be Taxed or Subsidized?
w13538 Raj Chetty
Emmanuel Saez

An Agency Theory of Dividend Taxation
w13540 Oliver Hart
Hold-up, Asset Ownership, and Reference Points
w13504 Harrison Hong
Jose A. Scheinkman
Wei Xiong

Advisors and Asset Prices: A Model of the Origins of Bubbles
w13480 Edward P. Lazear
Paul Oyer

Personnel Economics
w13481 Oliver D. Hart
Reference Points and the Theory of the Firm
w13475 George-Marios Angeletos
Guido Lorenzoni
Alessandro Pavan

Wall Street and Silicon Valley: A Delicate Interaction
w13437 Thomas Philippon
Ariell Reshef

Skill Biased Financial Development: Education, Wages and Occupations in the U.S. Financial Sector
w13427 Siddhartha G. Dastidar
Raymond Fisman
Tarun Khanna

Testing Limits to Policy Reversal: Evidence from Indian Privatizations
w13435 Joseph P.H. Fan
Randall Morck
Lixin Colin Xu
Bernard Yeung

Institutions and Foreign Investment: China versus the World
w13405 Thomas Philippon
Why Has the U.S. Financial Sector Grown so Much? The Role of Corporate Finance.
w13385 Nicholas Bloom
The Impact of Uncertainty Shocks
w13387 Paola Sapienza
Anna Toldra
Luigi Zingales

Understanding Trust
w13361 Ralph S.J Koijen
Otto Van Hemert
Stijn Van Nieuwerburgh

Mortgage Timing
w13370 Jeremy C. Stein
Conversations Among Competitors
w13372 Alex Edmans
Xavier Gabaix
Augustin Landier

A Calibratable Model of Optimal CEO Incentives in Market Equilibrium
w13316 Kenneth Ayotte
Patrick Bolton

Optimal Property Rights in Financial Contracting
w13299 Thorsten Beck
Ross Levine
Alexey Levkov

Big Bad Banks? The Impact of U.S. Branch Deregulation on Income Distribution
w13288 Reena Aggarwal
Isil Erel
René Stulz
Rohan Williamson

Differences in Governance Practices between U.S. and Foreign Firms: Measurement, Causes, and Consequences
w13268 Jeremy I. Bulow
Paul D. Klemperer

When are Auctions Best?
w13270 Steven N. Kaplan
Joshua Rauh

Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?
w13274 Jarrad Harford
Dirk Jenter
Kai Li

Conflicts of Interests Among Shareholders: The Case of Corporate Acquisitions
w13281 Mihir A. Desai
Dhammika Dharmapala

Taxes and Portfolio Choice: Evidence from JGTRRA's Treatment of International Dividends
w13282 Long Chen
Lu Zhang

Neoclassical Factors
w13265 Michelle J. White
Bankruptcy Reform and Credit Cards
w13283 Mihir A. Desai
Li Jin

Institutional Tax Clienteles and Payout Policy
w13285 Harry DeAngelo
Linda DeAngelo
René M. Stulz

Fundamentals, Market Timing, and Seasoned Equity Offerings
w13250 Jianjun Miao
Neng Wang

Investment, Consumption, and Hedging under Incomplete Markets
w13251 Rui Albuquerque
Neng Wang

Agency Conflicts, Investment, and Asset Pricing
w13240 Joshua Rauh
Risk Shifting versus Risk Management: Investment Policy in Corporate Pension Plans
w13241 Pol Antràs
Ricardo J. Caballero

Trade and Capital Flows: A Financial Frictions Perspective
w13189 Malcolm Baker
Jeffrey Wurgler

Investor Sentiment in the Stock Market
w13202 Rüdiger Fahlenbrach
René M. Stulz

Managerial Ownership Dynamics and Firm Value
w13171 Randall Morck
Masao Nakamura

Business Groups and the Big Push: Meiji Japan's Mass Privatization and Subsequent Growth
w13148 Jiandong Ju
Shang-Jin Wei

Domestic Institutions and the Bypass Effect of Financial Globalization
w13120 Simon Johnson
Jonathan D. Ostry
Arvind Subramanian

The Prospects for Sustained Growth in Africa: Benchmarking the Constraints
w13124 Ulrike Malmendier
Devin Shanthikumar

Do Security Analysts Speak in Two Tongues?
w13132 Mihir A. Desai
Dhammika Dharmapala

Taxes, Institutions and Foreign Diversification Opportunities
w13103 David Dollar
Shang-Jin Wei

Das (Wasted) Kapital: Firm Ownership and Investment Efficiency in China
w13104 Jeremy Greenwood
Juan M. Sanchez
Cheng Wang

Financing Development: The Role of Information Costs
w13109 Timothy Guinnane
Ron Harris
Naomi R. Lamoreaux
Jean-Laurent Rosenthal

Putting the Corporation in its Place
w13092 Guido Lorenzoni
Karl Walentin

Financial Frictions, Investment and Tobin's q
w13093 Eric Hilt
When did Ownership Separate from Control? Corporate Governance in the Early Nineteenth Century
w13079 Craig Doidge
G. Andrew Karolyi
Rene M. Stulz

Has New York Become Less Competitive in Global Markets? Evaluating Foreign Listing Choices Over Time
w13081 Veronica Cacdac Warnock
Francis E. Warnock

Markets and Housing Finance
w13061 Leonce Bargeron
Frederik Schlingemann
Rene M. Stulz
Chad Zutter

Why Do Private Acquirers Pay So Little Compared to Public Acquirers?
w13056 Robert E. Hall
Susan E. Woodward

The Incentives to Start New Companies: Evidence from Venture Capital
w13024 Laura X. L. Liu
Toni Whited
Lu Zhang

Regularities
w13005 Hirofumi Uchida
Gregory F.Udell
Wako Watanabe

Bank Size and Lending Relationships in Japan
w13011 Hyunbae Chun
Jung-Wook Kim
Randall Morck
Bernard Yeung

Creative Destruction and Firm-Specific Performance Heterogeneity
w13014 Jonathan B. Berk
Richard Stanton
Josef Zechner

Human Capital, Bankruptcy and Capital Structure
w12952 Yael V. Hochberg
Paola Sapienza
Annette Vissing-Jorgensen

A Lobbying Approach to Evaluating the Sarbanes-Oxley Act of 2002
w12939 Markus K. Brunnermeier
Lasse Heje Pedersen

Market Liquidity and Funding Liquidity
w12918 Charles W. Calomiris
Doron Nissim

Activity-Based Valuation of Bank Holding Companies
w12923 James Poterba
Nirupama Rao
Jeri Seidman

Deferred Tax Positions and Incentives for Corporate Behavior Around Corporate Tax Changes
w12896 Ricardo J. Caballero
Arvind Krishnamurthy

Collective Risk Management in a Flight to Quality Episode
w12882 Alexander Dyck
Adair Morse
Luigi Zingales

Who Blows the Whistle on Corporate Fraud?
w12875 Benjamin E. Hermalin
Michael S. Weisbach

Transparency and Corporate Governance
w12873 Douglas A. Shackelford
Joel Slemrod
James M. Sallee

A Unifying Model of How the Tax System and Generally Accepted Accounting Principles Affect Corporate Behavior
w12874 Boyan Jovanovic
Balàzs Szentes

On the Return to Venture Capital
w12851 Efraim Benmelech
Tobias J. Moskowitz

The Political Economy of Financial Regulation: Evidence from U.S. State Usury Laws in the 19th Century
w12855 Pol Antràs
Mihir A. Desai
C. Fritz Foley

Multinational Firms, FDI Flows and Imperfect Capital Markets
w12862 Asli Demirguc-Kunt
Edward J. Kane
Luc Laeven

Determinants of Deposit-Insurance Adoption and Design
w12847 Borja Larrain
Motohiro Yogo

Does Firm Value Move Too Much to be Justified by Subsequent Changes in Cash Flow?
2006
care06-1 Mark Carey and René M. Stulz
editors

The Risks of Financial Institutions
w12819 Reena Aggarwal
Isil Erel
Rene M. Stulz
Rohan Williamson

Do U.S. Firms Have the Best Corporate Governance? A Cross-Country Examination of the Relation between Corporate Governance and Shareholder Wealth
w12826 Ulf Axelson
Per Stromberg
Michael S. Weisbach

Why are Buyouts Levered: The Financial Structure of Private Equity Funds
w12798 Michael S. Weisbach
Optimal Executive Compensation vs. Managerial Power: A Review of Lucian Bebchuk and Jesse Fried's "Pay without Performance: The Unfulfilled Promise of Executive Compensation"
w12804 Daron Acemoglu
Kostas Bimpikis
Asuman Ozdaglar

Price and Capacity Competition
w12807 Simeon Djankov
Oliver Hart
Caralee McLiesh
Andrei Shleifer

Debt Enforcement Around the World
w12811 Lucian A. Bebchuk
Yaniv Grinstein
Urs Peyer

Lucky Directors
w12792 Lubos Pastor
Lucian Taylor
Pietro Veronesi

Entrepreneurial Learning, the IPO Decision, and the Post-IPO Drop in Firm Profitability
w12771 Lucian A. Bebchuk
Yaniv Grinstein
Urs Peyer

Lucky CEOs
w12773 Heitor Almeida
Murillo Campello
Michael S. Weisbach

Corporate Financial and Investment Policies when Future Financing is not Frictionless
w12776 A. Mitchell Polinsky
Steven Shavell

Mandatory Versus Voluntary Disclosure of Product Risks
w12765 Enrichetta Ravina
Paola Sapienza

What Do Independent Directors Know? Evidence from Their Trading
w12739 Holger M. Mueller
Thomas Philippon

Family Firms, Paternalism, and Labor Relations
w12742 Darius Lakdawalla
George Zanjani

Catastrophe Bonds, Reinsurance, and the Optimal Collateralization of Risk-Transfer
w12724 Dirk Jenter
Katharina Lewellen
Jerold B. Warner

Security Issue Timing: What Do Managers Know, and When Do They Know It?
w12719 Gary Richardson
A Comment Concerning Deposit Insurance and Moral Hazard
w12720 Sendhil Mullainathan
Joshua Schwartzstein
Andrei Shleifer

Coarse Thinking and Persuasion
w12705 Edward J. Kane
Basel II: A Contracting Perspective
w12706 Oliver Hart
John Moore

Contracts as Reference Points
w12695 Hamid Mehran
Rene M. Stulz

The Economics of Conflicts of Interest in Financial Institutions
w12698 Peter Blair Henry
Capital Account Liberalization: Theory, Evidence, and Speculation
w12675 Luc Laeven
Ross Levine

Complex Ownership Structures and Corporate Valuations
w12679 Nicola Gennaioli
Andrei Shleifer

Judicial Fact Discretion
w12649 C. Fritz Foley
Jay C. Hartzell
Sheridan Titman
Garry Twite

Why do firms hold so much cash? A tax-based explanation
w12656 Timothy J. Kehoe
David K. Levine

Bankruptcy and Collateral in Debt Constrained Markets
w12626 Jerry Cao
Josh Lerner

The Performance of Reverse Leveraged Buyouts
w12644 Charles Calomiris
Devaluation with Contract Redenomination in Argentina
w12645 Keith J. Crocker
Joel Slemrod

The Economics of Earnings Manipulation and Managerial Compensation
w12612 Atif Mian
Asim Ijaz Khwaja

Tracing the Impact of Bank Liquidity Shocks: Evidence from an Emerging Market
w12622 Charles Calomiris
Thanavut Pornrojnangkool

Relationship Banking and the Pricing of Financial Services
w12613 Shilpi Kapur
Sukkoo Kim

British Colonial Institutions and Economic Development in India
w12592 Paul Gompers
Anna Kovner
Josh Lerner
David Scharfstein

Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs
w12597 James Poterba
Joshua Rauh
Steven Venti
David Wise

Defined Contribution Plans, Defined Benefit Plans, and the Accumulation of Retirement Wealth
w12555 Dmitry Livdan
Horacio Sapriza
Lu Zhang

Financially Constrained Stock Returns
w12534 Thomas W. Bates
Kathleen M. Kahle
Rene M. Stulz

Why Do U.S. Firms Hold So Much More Cash Than They Used To?
w12525 Alexander Dyck
Natalya Volchkova
Luigi Zingales

The Corporate Governance Role of the Media: Evidence from Russia
w12500 John Ammer
Sara B. Holland
David C. Smith
Francis E. Warnock

Look at Me Now: What Attracts U.S. Shareholders?
w12486 Laarni Bulan
Christopher J. Mayer
C. Tsuriel Somerville

Irreversible Investment, Real Options, and Competition: Evidence from Real Estate Development
w12455 Naomi R. Lamoreaux
Jean-Laurent Rosenthal

Contractual Tradeoffs and SMEs Choice of Organizational Form, A View from U.S. and French History, 1830-2000
w12465 Steven N. Kaplan
Bernadette Minton

How has CEO Turnover Changed? Increasingly Performance Sensitive Boards and Increasingly Uneasy CEOs
w12438 Leemore Dafny
David Dranove

Regulatory Exploitation and the Market for Corporate Controls
w12389 Bong-Chan Kho
René M. Stulz
Francis E. Warnock

Financial Globalization, Governance, and the Evolution of the Home Bias
w12394 Kathy Fogel
Randall Morck
Bernard Yeung

Big Business Stability and Economic Growth: Is What's Good for General Motors Good for America?
w12359 Yingjin Hila Gan
Christopher Mayer

Agency Conflicts, Asset Substitution, and Securitization
w12356 Morten Bennedsen
Kasper M. Nielsen
Francisco Pérez-González
Daniel Wolfenzon

Inside the Family Firm: The Role of Families in Succession Decisions and Performance
w12354 Steven J. Davis
John Haltiwanger
Ron Jarmin
Javier Miranda

Volatility and Dispersion in Business Growth Rates: Publicly Traded versus Privately Held Firms
w12345 Eduardo Levy Yeyati
Liquidity Insurance in a Financially Dollarized Economy
w12343 William O. Brown
Jr.
J. Harold Mulherin
Marc D. Weidenmier

Competing With the NYSE
w12288 Malcolm Baker
Stefan Nagel
Jeffrey Wurgler

The Effect of Dividends on Consumption
w12292 Roger Gordon
Martin Dietz

Dividends and Taxes
w12297 Vojislav Maksimovic
Gordon Phillips

The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?
w12276 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Capital Structure with Risky Foreign Investment
w12274 Marianne Bertrand
Simeon Djankov
Rema Hanna
Sendhil Mullainathan

Does Corruption Produce Unsafe Drivers?
w12256 James Dow
Gary Gorton

Noise Traders
w12252 Ana Carla A. Costa
Joao M.P. De Mello

Judicial Risk and Credit Market Performance: Micro Evidence from Brazilian Payroll Loans
w12245 E. Han Kim
Adair Morse
Luigi Zingales

Are Elite Universities Losing Their Competitive Edge?
w12222 Christian Leuz
Karl V. Lins
Francis E. Warnock

Do Foreigners Invest Less in Poorly Governed Firms?
w12234 Evan Gatev
Til Schuermann
Philip E. Strahan

Managing Bank Liquidity Risk: How Deposit-Loan Synergies Vary with Market Conditions
w12205 Amy Finkelstein
James Poterba
Casey Rothschild

Redistribution by Insurance Market Regulation: Analyzing a Ban on Gender-Based Retirement Annuities
w12186 Anusha Chari
Peter Blair Henry

Firm-Specific Information and the Efficiency of Investment
w12136 Ricardo J. Caballero
Arvind Krishnamurthy

Flight to Quality and Collective Risk Management
w12146 Clemens Sialm
Investment Taxes and Equity Returns
w12129 Ricardo J. Caballero
Takeo Hoshi
Anil K. Kashyap

Zombie Lending and Depressed Restructuring in Japan
w12151 Ravi Jagannathan
Ann E. Sherman

Why Do IPO Auctions Fail?
w12170 Edward J. Kane
Inadequacy of Nation-Based and VaR-Based Safety Nets in the European Union
lern06-1 Josh Lerner and Raghuram Rajan
organizers

Corporate Alliances
w12104 Chang-Tai Hsieh
Jonathan A. Parker

Taxes and Growth in a Financially Underdeveloped Country: Evidence from the Chilean Investment Boom
w12107 Patrick Bolton
Jose Scheinkman
Wei Xiong

Pay for Short-Term Performance: Executive Compensation in Speculative Markets
w12093 Raghuram G. Rajan
Competitive Rent Preservation, Reform Paralysis, and the Persistence of Underdevelopment
w12068 Dirk Jenter
Fadi Kanaan

CEO Turnover and Relative Performance Evaluation
w12075 Gary Gorton
Ping He
Lixin Huang

Asset Prices When Agents are Marked-to-Market
w12084 Gary Gorton
Ping He

Agency-Based Asset Pricing
w12087 Heitor Almeida
Murillo Campello

Financial Constraints, Asset Tangibility, and Corporate Investment
w12090 Nicole M. Boyson
Christof W. Stahel
Rene M. Stulz

Is There Hedge Fund Contagion?
w12050 Benjamin E. Hermalin
Michael S. Weisbach

A Framework for Assessing Corporate Governance Reform
w12059 Paul Oyer
The Making of an Investment Banker: Macroeconomic Shocks, Career Choice, and Lifetime Income
w11999 Paola Sapienza
Luigi Zingales
Luigi Guiso

Does Culture Affect Economic Outcomes?
w12000 Murray Carlson
Zeigham Khokher
Sheridan Titman

Equilibrium Exhaustible Resource Price Dynamics
w11983 Elena Loutskina
Philip E. Strahan

Securitization and the Declining Impact of Bank Finance on Loan Supply: Evidence from Mortgage Acceptance Rates
w11984 Leora Friedberg
Anthony Webb

Life is Cheap: Using Mortality Bonds to Hedge Aggregate Mortality Risk
w11989 Justin Wolfers
Diagnosing Discrimination: Stock Returns and CEO Gender
w11944 Josh Lerner
Julie Wulf

Innovation and Incentives: Evidence from Corporate R&D
w11950 Kevin F. Hallock
Craig Olson

The Value of Stock Options to Non-Executive Employees
w11961 Sanjiv Das
Darrell Duffie
Nikunj Kapadia
Leandro Saita

Common Failings: How Corporate Defaults are Correlated
w11962 Darrell Duffie
Leandro Siata
Ke Wang

Multi-Period Corporate Default Prediction With Stochastic Covariates
w11912 Rene M. Stulz
Financial Globalization, Corporate Governance, and Eastern Europe
w11914 A. Burak Güner
Ulrike Malmendier
Geoffrey Tate

Financial Expertise of Directors
2005
w11892 Marianne Bertrand
Dean Karlin
Sendhil Mullainathan
Eldar Shafir
Jonathan Zinman

What's Psychology Worth? A Field Experiment in the Consumer Credit Market
w11894 Ross Levine
Sergio Schmukler

Internationalization and Stock Market Liquidity
w11907 Lucian A. Bebchuk
Robert J. Jackson
Jr.

Executive Pensions
w11865 Edward J. Kane
Confronting Divergent Interests in Cross-Country Regulatory Arrangements
w11867 Patrick Bolton
Antoine Faure-Grimaud

Thinking Ahead: The Decision Problem
w11882 Owen A. Lamont
Jeremy C. Stein

Investor Sentiment and Corporate Finance: Micro and Macro
w11883 Simeon Djankov
Rafael LaPorta
Florencio Lopez-de-Silanes
Andrei Shleifer

The Law and Economics of Self-Dealing
w11886 Lucian Bebchuk
Yaniv Grinstein

Firm Expansion and CEO Pay
w11834 Ricardo Caballero
Arvind Krishnamurthy

Financial System Risk and Flight to Quality
w11838 Sendhil Mullainathan
Andrei Shleifer

Persuasion in Finance
w11860 Edward J. Kane
Can the European Community Afford to Neglect the Need for More Accountable Safety-Net Management?
morc05-1 Randall K. Morck
editor

A History of Corporate Governance around the World: Family Business Groups to Professional Managers
w11797 Woojin Kim
Michael S. Weisbach

Motivations for Public Equity Offers: An International Perspective
w11728 Raghuram G. Rajan
Has Financial Development Made the World Riskier?
w11717 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Foreign Direct Investment and Domestic Economic Activity
w11685 Heitor Almeida
Thomas Philippon

The Risk-Adjusted Cost of Financial Distress
w11648 Luigi Guiso
Paola Sapienza
Luigi Zingales

Trusting the Stock Market
w11624 Zsuzsanna Fluck
Kedran Garrison
Stewart C. Myers

Venture Capital Contracting and Syndication: An Experiment in Computational Corporate Finance
w11581 Steven N. Kaplan
Berk A. Sensoy
Per Strömberg

What Are Firms? Evolution from Birth to Public Companies
w11579 Bernadette A. Minton
René Stulz
Rohan Williamson

How Much Do Banks Use Credit Derivatives to Reduce Risk?
w11542 Philippe Aghion
Mathias Dewatripont
Jeremy C. Stein

Academic Freedom, Private-Sector Focus, and the Process of Innovation
w11499 Luc Laeven
Ross Levine

Is There a Diversification Discount in Financial Conglomerates?
w11500 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Bank Concentration and Fragility: Impact and Mechanics
w11505 Jean Helwege
Christo Pirinsky
René M. Stulz

Why Do Firms Become Widely Held? An Analysis of the ynamics of Corporate Ownership
w11526 Andrea Frazzini
Owen A. Lamont

Dumb Money: Mutual Fund Flows and the Cross-Section of Stock Returns
w11488 Harrison Hong
Jeffrey D. Kubik
Jeremy C. Stein

The Only Game in Town: Stock-Price Consequences of Local Bias
w11493 M. Hashem Pesaran
Til Schuermann
Björn-Jakob Treutler

Global Business Cycles and Credit Risk
w11469 Mihir A. Desai
Dhammika Dharmapala
Winnie Fung

Taxation and the Evolution of Aggregate Corporate Ownership Concentration
w11442 Mark Carey
Rene M. Stulz

The Risks of Financial Institutions
w11443 Lucian Bebchuk
Yaniv Grinstein

The Growth of Executive Pay
w11424 Daron Acemoglu
Simon Johnson
Todd Mitton

Determinants of Vertical Integration: Finance, Contracts, and Regulation
w11409 Nittai K. Bergman
Dirk Jenter

Employee Sentiment and Stock Option Compensation
w11391 Viral V. Acharya
Heitor Almeida
Murillo Campello

Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies
w11368 Heitor Almeida
Daniel Wolfenzon

A Theory of Pyramidal Ownership and Family Business Groups
w11350 Antonio Geldson de Carvalho
Charles W. Calomiris
Joao Amaro de Matos

Venture Capital as Human Resource Management
w11361 Manju Puri
David Robinson

Optimism and Economic Choice
w11363 Gary Gorton
Ping He

Bank Credit Cycles
w11364 Gary Gorton
Matthias Kahl
Richard Rosen

Eat or Be Eaten: A Theory of Mergers and Merger Waves
w11333 Charles W. Calomiris
Donna M. Hitscherich

Banker Fees and Acquisition Premia for Targets in Cash Tender Offers: Challenges to the Popular Wisdom on Banker Conflicts
w11292 Josh Lerner
Ulrike Malmendier

Contractibility and the Design of Research Agreements
w11294 Armando Gomes
Gordon Phillips

Why Do Public Firms Issue Private and Public Securities?
w11277 David N. Figlio
Boys Named Sue: Disruptive Children and their Peers
w11280 Mitchell A. Petersen
Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches
w11270 Cade Massey
Richard Thaler

Overconfidence vs. Market Efficiency in the National Football League
w11256 Kenneth A. Carow
Edward J. Kane
Rajesh P. Narayanan

Winners and Losers from Enacting the Financial Modernization Statute
w11241 Mihir A. Desai
Dhammika Dharmapala

Corporate Tax Avoidance and Firm Value
w11254 Olubunmi Faleye
Vikas Mehrotra
Randall Morck

When Labor Has a Voice in Corporate Governance
w11214 Genevieve Boyreau-Debray
Shang-Jin Wei

Pitfalls of a State-Dominated Financial System: The Case of China
w11197 Woojin Kim
Michael Weisbach

Do Firms Go Public to Raise Capital?
w11162 Craig Doidge
G. Andrew Karolyi
Karl V. Lins
Darius P. Miller
Rene M. Stulz

Private Benefits of Control, Ownership, and the Cross-Listing Decision
w11156 Benjamin Chiao
Josh Lerner
Jean Tirole

The Rules of Standard Setting Organizations: An Empirical Analysis
w11126 Marianne Bertrand
Sendhil Mullainathan

Profitable Investments or Dissipated Cash? Evidence on the Investment-Cash Flow Relationship From Oil and Gas Lease Bidding
w11136 Josh Lerner
Antoinette Schoar
Wan Wong

Smart Institutions, Foolish Choices? The Limited Partner Performance Puzzle
w11140 Mihir A. Desai
Robert J. Yetman

Constraining Managers without Owners: Governance of the Not-for-Profit Enterprise
w11110 Oriol Carbonell-Nicolau
Diego Comin

Testing out Contractual Incompleteness: Evidence from Soccer
w11062 Randall K. Morck
Lloyd Steier

The Global History of Corporate Governance: An Introduction
w11070 Rene M. Stulz
The Limits of Financial Globalization
w11071 Patrick Bolton
Olivier Jeanne

Structuring and Restructuring Sovereign Debt: The Role of Seniority
w11075 Mihir C. Desai
C. Fritz Foley
James R. Hines Jr.

Foreign Direct Investment and the Domestic Capital Stock
w11078 Simeon Djankov
Caralee McLiesh
Andrei Shleifer

Private Credit in 129 Countries
w11082 Bart Lambrecht
Stewart C. Myers

A Theory of Takeovers and Disinvestment
w11037 Philippe Jorion
Bank Trading Risk and Systemic Risk
w11052 Jun Qian
Philip E. Strahan

How Law and Institutions Shape Financial Contracts: The Case of Bank Loans
w11053 Steven D. Levitt
Chad Syverson

Market Distortions when Agents are Better Informed: The Value of Information in Real Estate Transactions
w11023 Ross Levine
Sergio L. Schmukler

Internationalization and the Evolution of Corporate Valuation
2004
w11011 David J. Brophy
Paige P. Ouimet
Clemens Sialm

PIPE Dreams? The Performance of Companies Issuing Equity Privately
w10997 Daron Acemoglu
Philippe Aghion
Rachel Griffith
Fabrizio Zilibotti

Vertical Integration and Technology: Theory and Evidence
w10998 Malcolm Baker
Joshua Coval
Jeremy C. Stein

Corporate Financing Decisions When Investors Take the Path of Least Resistance
w10999 Philippe Aghion
Jeremy C. Stein

Growth vs. Margins: Destabilizing Consequences of Giving the Stock Market What it Wants
w11002 Jeffrey R. Brown
Nellie Liang
Scott Weisbenner

Executive Financial Incentives and Payout Policy: Firm Responses to the 2003 Dividend Tax Cut
w11005 Luigi Guiso
Paola Sapienza
Luigi Zingales

Cultural Biases in Economic Exchange
w10978 Mihir A. Desai
Alexander Dyck
Luigi Zingales

Theft and Taxes
w10979 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Finance, Inequality, and Poverty: Cross-Country Evidence
w10982 Philip E. Strahan
Evan Gatev
Til Schuermann

How do Banks Manage Liquidity Risk? Evidence from Equity and Deposit Markets in the Fall of 1998
w10944 Randall Morck
How to Eliminate Pyramidal Business Groups - The Double Taxation of Inter-Corporate Dividends and Other Incisive Uses of Tax Policy
w10933 Ilan Guedj
David Scharfstein

Organizational Scope and Investment: Evidence from the Drug Development Strategies and Performance of Biopharmaceutical Firms
w10908 Stephen G. Cecchetti
Stefan Krause

Deposit Insurance and External Finance
w10929 Raymond Fisman
Virginia Sarria-Allende

Regulation of Entry and the Distortion of Industrial Organization
w10900 Naomi Lamoreaux
Jean-Laurent Rosenthal

Corporate Governance and the Plight of Minority Shareholders in the United States Before the Great Depression
w10863 Malcolm Baker
Richard S. Ruback
Jeffrey Wurgler

Behavioral Corporate Finance: A Survey
w10847 Edward J. Kane
Charles Kindleberger
w10841 Raj Chetty
Emmanuel Saez

Dividend Taxes and Corporate Behavior: Evidence from the 2003 Dividend Tax Cut
w10823 Malcolm P. Baker
Ryan Taliaferro
Jeffrey Wurgler

Pseudo Market Timing and Predictive Regressions
w10832 Nicola Cetorelli
Philip E. Strahan

Finance as a Barrier to Entry: Bank Competition and Industry Structure in Local U.S. Markets
w10806 Mihir A. Desai
C. Fritz Foley
James R. Hines

Economic Effects of Regional Tax Havens
w10807 Ulrike Malmendier
Geoffrey Tate

CEO Overconfidence and Corporate Investment
a0675 Raghuram G. Rajan
Corporate Finance
w10785 Mihir A. Desai
C. Fritz Foley

The Comovement of Returns and Investment Within the Multinational Firm
w10794 Lily Qiu
Ivo Welch

Investor Sentiment Measures
w10766 Ross Levine
Finance and Growth: Theory and Evidence
w10770 Marcin Kacperczyk
Clemens Sialm
Lu Zheng

On the Industry Concentration of Actively Managed Equity Mutual Funds
w10773 Sara B. Moeller
Frederik P. Schlingemann
Rene M. Stulz

Do Acquirers With More Uncertain Growth Prospects Gain Less From Acquisitions?
w10719 John M. Griffin
Federico Nardari
Rene M. Stulz

Stock Market Trading and Market Conditions
w10726 Rene M. Stulz
Craig Doidge
Andrew Karolyi

Why Do Countries Matter So Much for Corporate Governance?
w10742 Lucian Arye Bebchuk
Jesse M. Fried

Stealth Compensation Via Retirement Benefits
w10743 Darrell Duffie
Ke Wang

Multi-Period Corporate Failure Prediction with Stochastic Covariates
w10716 Antoin E. Murphy
Corporate Ownership in France: The Importance of History
w10664 Josh Lerner
Jean Tirole

A Model of Forum Shopping, with Special Reference to Standard Setting Organizations
w10671 Jennifer Dlugosz
Rudiger Fahlenbrach
Paul Gompers
Andrew Metrick

Large Blocks of Stock: Prevalence, Size, and Measurement
w10681 Eric M. Engen
R. Glenn Hubbard

Federal Government Debt and Interest Rates
w10692 Randall Morck
Daniel Wolfenzon
Bernard Yeung

Corporate Governance, Economic Entrenchment and Growth
w10685 Malcolm Baker
Lubomir Litov
Jessica A. Wachter
Jeffrey Wurgler

Can Mutual Fund Managers Pick Stocks? Evidence from the Trades Prior to Earnings Announcements
w10635 Randall Morck
Michael Percy
Gloria Tian
Bernard Yeung

The Rise and Fall of the Widely Held Firm - A History of Corporate Ownership in Canada
w10641 Peter Hogfeldt
The History and Politics of Corporate Ownership in Sweden
w10644 Randall Morck
Behavioral Finance in Corporate Governance - Independent Directors, Non-Executive Chairs, and the Importance of the Devil's Advocate
w10659 Owen Lamont
Go Down Fighting: Short Sellers vs. Firms
w10613 Tarun Khann
Krishna Palepu

The Evolution of Concentrated Ownership in India Broad patterns and a History of the Indian Software Industry
w10615 Peter M. DeMarzo
Yuliy Sannikov

A Continuous-Time Agency Model of Optimal Contracting and Capital Structure
w10628 Julian Franks
Colin Mayer
Stefano Rossi

Spending Less Time with the Family: The Decline of Family Ownership in the UK
w10599 Harry DeAngelo
Linda DeAngelo
Rene Stulz

Dividend Policy, Agency Costs, and Earned Equity
w10574 Rene M. Stulz
Should We Fear Derivatives?
w10576 Barry Eichengreen
Pipat Luengnaruemitchai

Why Doesn't Asia Have Bigger Bond Markets?
w10587 Lucian Bebchuk
Alma Cohen

The Costs of Entrenched Boards
w10563 Christopher Polk
Paola Sapienza

The Real Effects of Investor Sentiment
w10567 Armando Gomes
Gary Gorton
Leonardo Madureira

SEC Regulation Fair Disclosure, Information, and the Cost of Capital
w10571 Patrick Bolton
Xavier Freixas
Joel Shapiro

Conflicts of Interest, Information Provision, and Competition in Banking
w10572 Raj Chetty
Emmanuel Saez

Do Dividend Payments Respond to Taxes? Preliminary Evidence from the 2003 Dividend Tax Cut
w10545 Mihir A. Desai
C. Fritz Foley
Kristin J. Forbes

Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Crises
w10550 John R. Graham
Campbell R. Harvey
Shiva Rajgopal

The Economic Implications of Corporate Financial Reporting
w10535 Thomas Hellman
Laura Lindsey
Manju Puri

Building Relationships Early: Banks in Venture Capital
w10536 Patricia M. Danzon
Andrew Epstein
Sean Nicholson

Mergers and Acquisitions in the Pharmaceutical and Biotech Industries
w10537 Simon Gilchrist
Charles P. Himmelberg
Gur Huberman

Do Stock Price Bubbles Influence Corporate Investment?
w10543 Daniel Bergstresser
Mihir A. Desai
Joshua Rauh

Earnings Manipulation and Managerial Investment Decisions: Evidence from Sponsored Pension Plans
w10526 Ayla Kayhan
Sheridan Titman

Firms' Histories and Their Capital Structures
w10532 Ricardo J. Caballero
Arvind Krishnamurthy

Fiscal Policy and Financial Depth
w10486 James J. Choi
David Laibson
Brigitte C. Madrian

Plan Design and 401(k) Savings Outcomes
w10491 Steven Drucker
Manju Puri

The Tying of Lending and Equity Underwriting
w10494 Raghuram Rajan
Julie Wulf

Are Perks Purely Managerial Excess?
w10471 Mihir A. Desai
Dhammika Dharmapala

Corporate Tax Avoidance and High Powered Incentives
w10483 Amit Goval
Ivo Welch

A Comprehensive Look at the Empirical Performance of Equity Premium Prediction
w10453 Li Jin
Stewart C. Myers

R-Squared Around the World: New Theory and New Tests
w10455 Murat Iyigun
Dani Rodrik

On the Efficacy of Reforms: Policy Tinkering, Institutional Change, and Entrepreneurship
w10434 Paul Asquith
Parag A. Pathak
Jay R. Ritter

Short Interest and Stock Returns
w10449 Malcolm Baker
Jeffrey Wurgler

Investor Sentiment and the Cross-Section of Stock Returns
w10410 Jung-Wook Kim
Jason Lee
Randall K. Morck

Heterogeneous Investors and their Changing Demand and Supply Schedules for Individual Common Stocks
w10419 Jeffrey R. Brown
Nellie Liang
Scott Weisbenner

401(k) Matching Contributions in Company Stock: Costs and Benefits for Firms and Workers
w10421 Gary V. Engelhardt
Brigitte C. Madrian

Employee Stock Purchase Plans
w10422 Francis A. Longstaff
Optimal Recursive Refinancing and the Valuation of Mortgage-Backed Securities
w10397 Oliver Hart
John Moore

Agreeing Now to Agree Later: Contracts that Rule Out but do not Rule In
w10380 Leora Klapper
Luc Laeven
Raghuram Rajan

Business Environment and Firm Entry: Evidence from International Data
w10337 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Capital Controls, Liberalizations, and Foreign Direct Investement
w10348 Josh Lerner
Antoinette Schoar

Transaction Structures in the Developing World
w10318 Anusha Chari
Peter Blair Henry

Is the Invisible Hand Discerning or Indiscriminate? Investment and Stock Prices in the Aftermath of Capital Account Liberalizations
w10321 James Poterba
Taxation and Corporate Payout Policy
w10298 Boyan Jovanovic
Peter L. Rousseau

Interest Rates and Initial Public Offerings
w10291 Alan J. Auerbach
How Much Equity Does the Government Hold?
w10259 Jeremy C. Stein
Why Are Most Funds Open-End? Competition and the Limits of Arbitrage
w10269 Andrei Shleifer
Does Competition Destroy Ethical Behavior?
w10236 Raymond Fisman
Inessa Love

Financial Development and Growth in the Short and Long Run
w10240 Paul A. Gompers
Joy Ishii
Andrew Metrick

Incentives vs. Control: An Analysis of U.S. Dual-Class Companies
ito_04-1 Takatoshi Ito and Anne O. Krueger
editors

Governance, Regulation, and Privatization in the Asia-Pacific Region, NBER East Asia Seminar on Economics, Volume 12
w10221 Paul Oyer
Scott Schaefer

Compensating Employees Below the Executive Ranks: A Comparison of Options, Restricted Stock, and Cash
w10222 Paul Oyer
Scott Schaefer

Why Do Some Firms Give Stock Options to All Employees?: An Empirical Examination of Alternative Theories
w10223 Josh Lerner
The New New Financial Thing: The Sources of Innovation Before and After State Street
w10224 Evangelos Benos
Michael S. Weisbach

Private Benefits and Cross-Listings in the United States
w10225 Brian J. Henderson
Narasimhan Jegadeesh
Michael S. Weisbach

World Markets for Raising New Capital
w10200 Sara B. Moeller
Frederik P. Schlingemann
Rene M. Stulz

Wealth Destruction on a Massive Scale? A Study of Acquiring-Firm Returns in the Recent Merger Wave
2003
w10190 Lucian Arye Bebchuk
Why Firms Adopt Antitakeover Arrangements
w10184 Kenneth A. Froot
Risk Management, Capital Budgeting and Capital Structure Policy for Insurers and Reinsurers
w10188 Lee Pinkowitz
Rene M. Stulz
Rohan Williamson

Do Firms in Countries with Poor Protection of Investor Rights Hold More Cash?
w10153 Mihir Desai
William M. Gentry

The Character and Determinants of Corporate Capital Gains
w10157 Kenneth A. Froot
Paul G. J. O'Connell

The Risk Tolerance of International Investors
w10158 Gerard Caprio
Luc Laeven
Ross Levine

Governance and Bank Valuation
w10165 Mihir Desai
Paul Gompers
Josh Lerner

Institutions, Capital Constraints and Entrepreneurial Firm Dynamics: Evidence from Europe
w10126 Thorsten Beck
Ross Levine

Legal Institutions and Financial Development
w10112 Katharine Abraham
Melissa A. Clark

Financial Aid and Students' College Decisions: Evidence from the District of Columbia's Tuition Assistance Grant Program
w10097 Steven N. Kaplan
Frederic Martel
Per Stromberg

How Do Legal Differences and Learning Affect Financial Contracts?
w10101 Andres Almazan
Javier Suarez
Sheridan Titman

Stakeholder, Transparency and Capital Structure
w10106 Andres Almazan
Adolfo de Motta
Sheridan Titman

Firm Location and the Creation and Utilization of Human Capital
w10070 Douglas W. Diamond
Raghuram G. Rajan

Money in a Theory of Banking
w10071 Douglas W. Diamond
Raghuram G. Rajan

Liquidity Shortages and Banking Crises
w9995 Malcolm Baker
Jeffrey Wurgler

Appearing and Disappearing Dividends: The Link to Catering Incentives
w9949 Eric Friedman
Simon Johnson
Todd Mitton

Propping and Tunneling
w9951 Sheridan Titman
K.C. John Wei
Feixue Xie

Capital Investments and Stock Returns
w9956 Evan Gatev
Philip E. Strahan

Banks' Advantage in Hedging Liquidity Risk: Theory and Evidence from the Commercial Paper Market
w9930 Michael Faulkender
Mitchell A. Petersen

Does the Source of Capital Affect Capital Structure?
w9934 Daron Acemoglu
Simon Johnson

Unbundling Institutions
w9900 Paul R. Bergin
Ivan Tchakarov

Does Exchange Rate Risk Matter for Welfare?
w9900 Paul R. Bergin
Ivan Tchakarov

Does Exchange Rate Risk Matter for Welfare?
w9900 Paul R. Bergin
Ivan Tchakarov

Does Exchange Rate Risk Matter for Welfare?
w9882 Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer

What Works in Securities Law?
w9887 Brian J. Hall
Six Challenges in Designing Equity-Based Pay
w10623 Kenneth A. Carow
Edward J. Kane
Rajesh Narayanan

How Have Borrowers Fared in Banking Mega-Mergers?
w9810 Youngjae Lim
Chin Hee Hahn

Bankruptcy Policy Reform and Total Factor Productivity Dynamics in Korea
w9813 Lucian Arye Bebchuk
Jesse M. Fried

Executive Compensation as an Agency Problem
w9816 Paul Gompers
Josh Lerner
David Scharfstein

Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986-1999
w9807 Steven Kaplan
Antoinette Schoar

Private Equity Performance: Returns, Persistence and Capital
w9784 Brian J. Hall
Kevin J. Murphy

The Trouble with Stock Options
w9758 James Dow
Gary Gorton
Arvind Krishnamurthy

Equilibrium Asset Prices Under Imperfect Corporate Control
w9763 Walter Novaes
Luigi Zingales

Bureaucracy as a Mechanism to Generate Information
w9715 Mihir A. Desai
C. Fritz Foley
James R. Hines
Jr.

A Multinational Perspective on Capital Structure Choice and Internal Capital Markets
w9722 Patrick Bolton
Jose Scheinkman
Wei Xiong

Executive Compensation and Short-termist Behavior in Speculative Markets
w9728 Ali Hortacsu
Chad Syverson

Product Differentiation, Search Costs, and Competition in the Mutual Fund Industry: A Case Study of the S&P 500 Index Funds
w9704 Donald Morgan
Bertrand Rime
Philip Strahan

Bank Integration and State Business Cycles
w9710 Donald Morgan
Philip Strahan

Foreign Bank Entry and Business Volatility: Evidence from U.S. States and Other Countries
w9711 Harrison Hong
Jeffrey D. Kubik
Jeremy C. Stein

The Neighbor's Portfolio: Word-of-Mouth Effects in the Holdings and Trade of Money Managers
w9680 Josh Lerner
Jean Tirole
Marcin Strojwas

Cooperative Marketing Agreements Between Competitors: Evidence from Patent Pools
w9643 Joe Peek
Eric S. Rosengren

Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan
w9644 Patrick McGuire
Bank Ties and Bond Market Access: Evidence on Investment-Cash Flow Sensitivity in Japan
w9645 Colin Mayer
Koen Schoors
Yishay Yafeh

Sources of Funds and Investment Activities of Venture Capital Funds: Evidence from Germany, Israel, Japan and the UK
w9651 Randall Morck
Why Some Double Taxation Might Make Sense: The Special Case of Inter-corporate Dividends
w9657 Alon Brav
John R. Graham
Campbell R. Harvey
Roni Michaely

Payout Policy in the 21st Century
w9659 Raymond Fisman
Mayank Raturi

Does Competition Encourage Credit Provision? Evidence from African Trade Credit Relationships
w9633 Raghuram Rajan
Julie Wulf

The Flattening Firm: Evidence from Panel Data on the Changing Nature of Corporate Hierarchies
w9634 Edward J. Kane
Continuing Dangers of Disinformation in Corporate Accounting Reports
w9613 Bengt Holmstrom
Steven N. Kaplan

The State of U.S. Corporate Governance: What's Right and What's Wrong?
w9620 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Bank Supervision and Corporate Finance
w9599 Ricardo J. Caballero
Arvind Krishnamurthy

Inflation Targeting and Sudden Stops
w9600 Philip L. Williams
Graeme Woodbridge

Antitrust Merger Policy: Lessons from the Australian Experience
w9608 Simeon Djankov
Edward L. Glaeser
Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer

The New Comparative Economics
w9595 Luigi Zingales
Raghuram G. Rajan

Banks and Markets: The Changing Character of European Finance
w9574 Chen-Chien Hsun
Shih Hui-Tzu

Initial Public Offering and Corporate Governance in China's Transitional Economy
w9575 Youngjae Lim
Sources of Corporate Financing and Economic Crisis in Korea: A Micro-evidence
w9582 Raymond Fisman
Inessa Love

Financial Dependence and Growth Revisited
w9583 Raymond Fisman
Inessa Love

Financial Development and the Composition of Industrial Growth
w9570 Ricardo J. Caballero
On the International Financial Architecture: Insuring Emerging Markets
w9542 Malcolm Baker
Jeffrey Wurgler

A Catering Theory of Dividends
w9523 Sara B. Moeller
Frederik P. Schlingemann
Rene M. Stulz

Do shareholders of acquiring firms gain from acquisitions?
w9527 Bruce Blonigen
Rossitza B. Wooster

CEO Turnover and Foreign Market Participation
w9481 Rodolfo Martell
Rene M. Stulz

Equity market liberalizations as country IPOs
w9488 Peter Blair Henry
Capital Account Liberalization, The Cost of Capital, and Economic Growth
w9493 Andrei Shleifer
Will the Sovereign Debt Market Survive?
w9478 Raghuram Rajan
Luigi Zingales

The Emergence of Strong Property Rights: Speculation from history
w9432 Gayane Hovakimian
Sheridan Titman

Corporate Investment with Financial Constraints: Sensitivity of Investment to Funds from Voluntary Asset Sales
2002
w9384 Anil K. Kashyap
Sorting Out Japan's Financial Crisis
w9385 Takero Doi
Takeo Hoshi

Paying for the FILP
w9386 Yishay Yafeh
An International Perspective of Japan's Corporate Groups and their Prospects
w9363 Josh Lerner
Jean Tirole

The Scope of Open Source Licensing
w9368 Mitsuhiro Fukao
Financial Sector Profitability and Double-Gearing
w9369 Serkan Arslanalp
Peter Blair Henry

Debt Relief: What Do the Markets Think?
w9371 Patrick Bolton
Marco Becht
Alisa Röell

Corporate Governance and Control
w9380 Lucian Bebchuk
Alma Cohen
Allen Ferrell

Does the Evidence Favor State Competition in Corporate Law?
w9340 Wei Fan
Michelle J. White

Personal Bankruptcy and the Level of Entrepreneurial Activity
w9322 Armen Hovakimian
Edward J. Kane
Luc Laeven

How Country and Safety-Net Characteristics Affect Bank Risk-Shifting
w9323 James R. Barth
Gerard Caprio
Jr.
Ross Levine

Bank Regulation and Supervision: What Works Best?
w9327 Nengjiu Ju
Robert Parrino
Allen M. Poteshman
Michael S. Weisbach

Horses and Rabbits? Optimal Dynamic Capital Structure from Shareholder and Manager Perspectives
w9309 Alexander Dyck
Luigi Zingales

The Corporate Governance Role of the Media
w9295 Sendhil Mullainathan
Andrei Shleifer

Media Bias
w9264 Pekka Hietala
Steven N. Kaplan
David T. Robinson

What is the Price of Hubris? Using Takeover Battles to Infer Overpayments and Synergies
w9246 Paul Asquith
Michael B. Mikhail
Andrea S. Au

Information Content of Equity Analyst Reports
w9251 Antonio E. Bernardo
Ivo Welch

Financial Market Runs
w9252 Susan Feinberg
Gordon Phillips

Firm-Specific Resources, Financial-Market Development and the Growth of U.S. Multinationals
w9253 Heitor Almeida
Murillo Campello
Michael S. Weisbach

Corporate Demand for Liquidity
w9237 Luigi Guiso
Paola Sapienza
Luigi Zingales

People's Opium? Religion and Economic Attitudes
w9222 Nicholas Barberis
Richard Thaler

A Survey of Behavioral Finance
w9137 Gary Gorton
Lixin Huang

Banking Panics and the Origin of Central Banking
w9138 Ross Levine
Bank-Based or Market-Based Financial Systems: Which is Better?
w9146 Josh Lerner
Antoinetter Schoar

The Illiquidity Puzzle: Theory and Evidence from Private Equity
w9156 Oren Bar-Gill
Michal Barzuza
Lucian Bebchuk

The Market for Corporate Law
w9158 Gary Gorton
Lixin Huang

Liquidity, Efficiency and Bank Bailouts
w9175 Josh Lerner
Jean Tirole

Efficient Patent Pools
w9126 Roberta Romano
Does Confidential Proxy Voting Matter?
w9131 Nellie Liang
Scott Weisbenner

Investor Behavior and the Purchase of Company Stock in 401(k) Plans - The Importance of Plan Design
w9115 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

International Joint Ventures and the Boundaries of the Firm
w9109 Edward P. Lazear
Entrepreneurship
w9102 Gary Gorton
Lixin Huang

Bank Panics and the Endogeneity of Central Banking
w9107 Lucian Bebchuk
Alma Cohen

Firms' Decisions Where to Incorporate
w9078 Lucian Arye Bebchuk
The Case Against Board Veto in Corporate Takeovers
w9068 Lucian Arye Bebchuk
Jesse M. Fried
David I. Walker

Managerial Power and Rent Extraction in the Design of Executive Compensation
w9049 Owen A. Lamont
Evaluating Value Weighting: Corporate Events and Market Timing
w9057 Mihir A. Desai
James R. Hines Jr.

Expectations and Expatriations: Tracing the Causes and Consequences of Corporate Inversions
w9059 Brian J. Hall
Thomas A. Knox

Managing Option Fragility
w9032 Peter MacKay
Gordon M. Phillips

Is There an Optimal Industry Financial Structure?
w9007 Sean Nicholson
Patricia M. Danzon
Jeffrey S. McCullough

Biotech-Pharmaceutical Alliances as a Signal of Asset and Firm Quality
w9009 Boyan Jovanovic
Serguey Braguinsky

Bidder Discounts and Target Premia in Takeovers
w9010 Jeremy Berkowitz
Michelle J. White

Bankruptcy and Small Firms' Access to Credit
w9015 Roger H. Gordon
Julie Berry Cullen

Taxes and Entrepreneurial Activity: Theory and Evidence for the U.S.
w8994 G. Andrew Karolyi
Rene M. Stulz

Are Financial Assets Priced Locally or Globally?
w9001 Denis Gromb
David Scharfstein

Entrepreneurship in Equilibrium
w8977 Josh Lerner
Patent Protection and Innovation Over 150 Years
w8982 Thorsten Beck
Ross Levine

Industry Growth and Capital Allocation: Does Having a Market- or Bank-Based System Matter?
w8988 Anusha Chari
Peter Blair Henry

Risk Sharing and Asset Prices: Evidence From a Natural Experiment
w8989 Henry Hansmann
Daniel Kessler
Mark McClellan

Ownership Form and Trapped Capital in the Hospital Industry
w8974 Lucian Arye Bebchuk
John C. Coates IV
Guhan Subramanian

The Powerful Antitakeover Force of Staggered Boards: Theory, Evidence and Policy
w8954 Michael R. Darby
Lynne G. Zucker

Going Public When You Can in Biotechnology
w8960 Raymond Fisman
Inessa Love

Trade Credit, Financial Intermediary Development and Industry Growth
w8937 Douglas W. Diamond
Raghuram G. Rajan

Liquidity Shortages and Banking Crises
w8928 Gary Gorton
Andrew Winton

Financial Intermediation
w8923 Luigi Guiso
Paola Sapienza
Luigi Zingales

Does Local Financial Development Matter?
w8908 Anusha Chari
Peter Blair Henry

Capital Account Liberalization: Allocative Efficiency or Animal Spirits?
w8890 Simeon Djankov
Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer

Courts: the Lex Mundi Project
w8874 Mark J. Garmaise
Tobias J. Moskowitz

Informal Financial Networks: Theory and Evidence
w8876 Tobias J. Moskowitz
Annette Vissing-Jorgensen

The Returns to Entrepreneurial Investment: A Private Equity Premium Puzzle?
w8877 Mark J. Garmaise
Tobias J. Moskowitz

Confronting Information Asymmetries: Evidence from Real Estate Markets
w8866 Mihir A. Desai
The Corporate Profit Base, Tax Sheltering Activity, and the Changing Nature of Employee Compensation
w8848 Rafael La Porta
Florencio Lopez-de-Silane
Guillermo Zamarripa

Related Lending
w8852 Simon Johnson
John McMillan
Christopher Woodruff

Property Rights and Finance
w8816 Malcolm Baker
Jeremy C. Stein

Market Liquidity as a Sentiment Indicator
w8805 Jay Ritter
Ivo Welch

A Review of IPO Activity, Pricing, and Allocations
w8782 Ivo Welch
Columbus' Egg: The Real Determinant of Capital Structure
w8788 Amit Goyal
Ivo Welch

Predicting the Equity Premium With Dividend Ratios
w8793 Randolph B. Cohen
Paul A. Gompers
Tuomo Vuolteenaho

Who Underreacts to Cash-Flow News? Evidence from Trading between Individuals and Institutions
w8764 Steven N. Kaplan
Per Stromberg

Characteristics, Contracts, and Actions: Evidence from Venture Capitalist Analyses
w8773 Bronwyn H. Hall
The Financing of Research and Development
w8776 Mike Burkart
Fausto Panunzi
Andrei Shleifer

Family Firms
w8750 Malcolm Baker
Jeremy C. Stein
Jeffrey Wurgler

When Does the Market Matter? Stock Prices and the Investment of Equity-Dependent Firms
w8752 Allen N. Berger
Nathan H. Miller
Mitchell A. Petersen
Raghuram G. Rajan
Jeremy C. Stein

Does Function Follow Organizational Form? Evidence From the Lending Practices of Large and Small Banks
w8759 Rafael La Porta
Florencio Lopez-de-Silane
Cristian Pop-Eleches
Andrei Shleifer

The Guarantees of Freedom
w8763 Robert Parrino
Allen M. Poteshman
Michael S. Weisbach

Measuring Investment Distortions when Risk-Averse Managers Decide Whether to Undertake Risky Projects
w8740 Boyan Jovanovic
Peter L. Rousseau

The Q-Theory of Mergers
w8711 Alexander Dyck
Luigi Zingales

Private Benefits of Control: An International Comparison
w8719 Ravi Jagannathan
Iwan Meier

Do We Need CAPM for Capital Budgeting?
w8698 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Dividend Policy inside the Firm
2001
w8680 Lee Pinkowitz
Rene M. Stulz
Rohan Williamson

Corporate Governance and the Home Bias
w8694 Randall S. Kroszner
Philip E. Strahan

Throwing Good Money After Bad? Board Connections and Conflicts in Bank Lending
w8641 Sheridan Titman
The Modigliani and Miller Theorem and Market Efficiency
w8652 Arturo Bris
Ivo Welch

The Optimal Concentration of Creditors
w8661 Lucian Arye Bebchuk
Jesse M. Fried
David I. Walker

Executive Compensation in America: Optimal Contracting or Extraction of Rents?
w8633 Lucian Bebchuk
Oliver Hart

Takeover bids vs. Proxy Fights in Contests for Corporate Control
w8594 Kenneth A. Carow
Edward J. Kane

Event-Study Evidence of the Value of Relaxing Longstanding Regulatory Restraints on Banks, 1970-2000
w8505 Paul A. Gompers
Josh Lerner

The Really Long-Run Performance of Initial Public Offerings: The Pre-NASDAQ Evidence
w8538 Craig Doidge
G. Andrew Karolyi
Rene M. Stulz

Why are Foreign Firms Listed in the U.S. Worth More?
w8572 Simon Johnson
John McMillan
Christopher Woodruff

Courts and Relational Contracts
w8460 Daron Acemoglu
Simon Johnson
James A. Robinson

Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution
w8464 Glenn MacDonald
Michael Weisbach

The Economics of Has-Beens
w8493 Edward J. Kane
Asli Demirguc-Kunt

Deposit Insurance Around the Globe: Where Does it Work?
w8439 Andrei Shleifer
Robert W. Vishny

Stock Market Driven Acquisitions
w8449 Paul A. Gompers
Joy L. Ishii
Andrew Metrick

Corporate Governance and Equity Prices
w8358 Harrison Hong
Jeffrey D. Kubik
Jeremy C. Stein

Social Interaction and Stock-Market Participation
w8399 Edward J. Kane
Using Deferred Compensation to Strengthen the Ethicsof Financial Regulation
w8342 Jeremy C. Stein
Agency, Information and Corporate Investment
w8272 Edward L. Glaeser
Andrei Shleifer

Legal Origins
w8285 Oliver Hart
Financial Contracting
w8286 Oliver Hart
Norms and the Theory of the Firm
w8302 Owen A. Lamont
Richard H. Thaler

Can the Market Add and Subtract? Mispricing in Tech Stock Carve-Outs
w8201 Leslie Eldenburg
Benjamin E. Hermalin
Michael S. Weisbach
Marta Wosinska

Hospital Governance, Performance Objectives, and Organizational Form
w8202 Steven N. Kaplan
Per Stromberg

Venture Capitalists As Principals: Contracting, Screening, and Monitoring
w8203 Alan J. Auerbach
Taxation and Corporate Financial Policy
w8220 Bengt Holmstrom
Steven N. Kaplan

Corporate Governance and Merger Activity in the U.S.: Making Sense of the 1980s and 1990s
w8222 Rene M. Stulz
Rohan Williamson

Culture, Openness, and Finance
w8224 Edward J. Kane
Financial Safety Nets: Reconstructing and Modeling a Policymaking Metaphor
w8251 Dan Elfenbein
Josh Lerner

Links and Hyperlinks: An Empirical Analysis of Internet Portal Alliances, 1995-1999
w8151 Joseph Chen
Harrison Hong
Jeremy C. Stein

Breadth of Ownership and Stock Returns
w8161 Benjamin E. Hermalin
Michael S. Weisbach

Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature
w8164 William A. Reese
Jr.
Michael S. Weisbach

Protection of Minority Shareholder Interests, Cross-listings in the United States, and Subsequent Equity Offerings
w8177 Raghuram G. Rajan
Luigi Zingales

The Influence of the Financial Revolution on the Nature of Firms
w8178 Raghuram G. Rajan
Luigi Zingales

The Great Reversals: The Politics of Financial Development in the 20th Century
w8184 Edward L. Glaeser
Andrei Shleifer

A Case for Quantity Regulation
w8106 Kenneth A. Froot
Steven E. Posner

The Pricing of Event Risks with Parameter Uncertainty
w8110 Kenneth A. Froot
The Market for Catastrophe Risk: A Clinical Examination
w8081 Boyan Jovanovic
Peter L. Rousseau

Why Wait? A Century of Life Before IPO
w8093 Artyom Durnev
Randall Morck
Bernard Yeung

Does Firm-specific Information in Stock Prices Guide Capital Allocation?
mish01-1 Frederic S. Mishkin
editor

Prudential Supervision: What Works and What Doesn't
2000
w8045 Amy Finkelstein
James Poterba

Adverse Selection in Insurance Markets: Policyholder Evidence from the U.K. Annuity Market
w8052 Brian J. Hall
Kevin J. Murphy

Stock Options for Undiversified Executives
w7997 Takatoshi Ito
Kimie Harada

Japan Premium and Stock Prices: Two Mirrors of Japanese Banking Crises
w8003 Edward J. Kane
Tara Rice

Bank Runs and Banking Policies: Lessons for African Policymakers
w8017 Luis Garicano
Steven N. Kaplan

The Effects of Business-to-Business E-Commerce on Transaction Costs
w7935 Michelle Lowry
G. William Schwert

IPO Market Cycles: Bubbles or Sequential Learning?
w7945 Gary Gorton
Frank Schmid

Class Struggle Inside the Firm: A Study of German Codetermination
w7952 Marianne Bertrand
Paras Mehta
Sendhil Mullainathan

Ferreting Out Tunneling: An Application to Indian Business Groups
w7958 Raghuram G. Rajan
Luigi Zingales

The Governance of the New Enterprise
w7974 Andrei Shleifer
Daniel Wolfenson

Investor Protection and Equity Markets
w7873 Frederik P. Schlingemann
Rene M. Stulz
Ralph A. Walkling

Asset Liquidity and Segment Divestitures
w7894 William M. Gentry
R. Glenn Hubbard

Entrepreneurship and Household Saving
w7913 Kee-Hong Bae
G. Andrew Karolyi
Rene M. Stulz

A New Approach to Measuring Financial Contagion
w7918 Josh Lerner
Where Does State Street Lead? A First Look at Finance Patents, 1971-2000
w7921 Oliver Hart
Different Approaches to Bankruptcy
w7821 Alan J. Auerbach
Kevin A. Hassett

On the Marginal Source of Investment Funds
w7786 Ann E. Sherman
Sheridan Titman

Building the IPO Order Book: Underpricing and Participation Limits With Costly Information
w7792 Ricardo J. Caballero
Arvind Krishnamurthy

Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment
w7803 Owen Lamont
Christopher Polk

Does Diversification Destroy Value? Evidence From Industry Shocks
w7808 Hyun-Han Shin
Rene M. Stulz

Firm Value, Risk, and Growth Opportunities
w7748 George Chacko
Peter Tufano
Geoffrey Verter

Cephalon, Inc. Taking Risk Management Theory Seriously
w7764 Douglas W. Diamond
Raghuram G. Rajan

Banks, Short Term Debt and Financial Crises: Theory, Policy Implications and Applications
w7683 Francois Degeorge
Dirk Jenter
Alberto Moel
Peter Tufano

Selling Company Shares to Reluctant Employees: France Telecom's Experience
w7685 Mitchell A. Petersen
Raghuram G. Rajan

Does Distance Still Matter? The Information Revolution in Small Business Lending
w7687 Joseph Chen
Harrison Hong
Jeremy C. Stein

Forecasting Crashes: Trading Volume, Past Returns and Conditional Skewness in Stock Prices
w7705 Jeremy C. Stein
Information Production and Capital Allocation: Decentralized vs. Hierarchical Firms
w7706 Luigi Zingales
In Search of New Foundations
w6919 Lucian Arye Bebchuk
Christine Jolls

Managerial Value Diversion and Shareholder Wealth
w7634 George P. Baker
Thomas N. Hubbard

Contractibility and Asset Ownership: On-Board Computers and Governance in U.S. Trucking
w7659 Steven N. Kaplan
Luigi Zingales

Investment-Cash Flow Sensitivities are not Valid Measures of Financing Constraints
w7660 Steven N. Kaplan
Per Stromberg

Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts
a0693 Raghuram G. Rajan
Corporate Finance
w6521 Lucian Arye Bebchuk
Andrew T. Guzman

An Economic Analysis of Transnational Bankruptcies
w7587 Eitan Goldman
Gary Gorton

The Visible Hand, the Invisible Hand and Efficiency
w7589 John Y. Campbell
Asset Pricing at the Millennium
w7596 Brian J. Hall
Jeffrey B. Liebman

The Taxation of Executive Compensation
w7604 Marianne Bertrand
Sendhil Mullainathan

Do CEOs Set Their Own Pay? The Ones Without Principals Do
w7616 Olivier Blanchard
Andrei Shleifer

Federalism with and without Political Centralization: China versus Russia
w7620 Rafael La Porta
Florencio Lopezde-Silanes
Andrei Shleifer

Government Ownership of Banks
w7629 Mark Carey
Dimensions of Credit Risk and Their Relationship to Economic Capital Requirements
w7209 Charles P. Himmelberg
R. Glenn Hubbard
Darius Palia

Understanding the Determinants of Managerial Ownership and the Link Between Ownership and Performance
w7523 Simon Johnson
Rafael La Porta
Florencio Lopez-de-Silanes
Andrei Shleifer

Tunnelling
w7529 Rene M. Stulz
U.S. Banks, Crises, and Bailouts: From Mexico to LTCM
w7546 Raghuram G. Rajan
Luigi Zingales

The Firm as a Dedicated Hierarchy: A Theory of the Origin and Growth of Firms
w7548 Brian J. Hall
Kevin J. Murphy

Optimal Exercise Prices for Executive Stock Options
w7563 Luigi Guiso
Paola Sapienza
Luigi Zingales

The Role of Social Capital in Financial Development
w7464 Josh Lerner
Alexander Tsai

Do Equity Financing Cycles Matter? Evidence from Biotechnology Alliances
w7514 Edward J. Kane
Capital Movements, Banking Insolvency, and Silent Runs in the Asian Financial Crisis
1999
w7430 Douglas W. Diamond
Raghuram G. Rajan

Liquidity Risk, Liquidity Creation and Financial Fragility: A Theory of Banking
w7428 Rafael La Porta
Florencio Lopez-deSilanes
Andrei Shleifer
Robert W. Vishny

Investor Protection: Origins, Consequences, and Reform
w7431 Douglas W. Diamond
Raghuram G. Rajan

A Theory of Bank Capital
w7433 Roger H. Gordon
Young Lee

Do Taxes Affect Corporate Debt Policy? Evidence from US Corporate Tax Return Data
w7447 Simon Johnson
Andrei Shleifer

Coase v. the Coasians
w7388 Oliver Hart
John Moore

On the Design of Hierarchies: Coordination Versus Specialization
w7396 Owen Lamont
Christopher Polk

The Diversification Discount: Cash Flows vs. Returns
w7403 Rafael La Porta
Florencio Lopez-deSilanes
Andrei Shleifer
Robert W. Vishny

Investor Protection and Corporate Valuation
w7334 Rajesh K. Aggarwal
Andrew A. Samwick

Performance Incentives Within Firms: The Effect of Managerial Responsibility
w7335 Rajesh K. Aggarwal
Andrew A. Samwick

Empire-Builders and Shirkers: Investment, Firm Performance, and Managerial Incentives
w7319 Randall S. Kroszner
Philip E. Strahan

Bankers on Boards: Monitoring, Conflicts of Interest, and Lender Liability
w7208 Krishna B. Kumar
Raghuram G. Rajan
Luigi Zingales

What Determines Firm Size?
w7250 Takeo Hoshi
Anil Kashyap

The Japanese Banking Crisis: Where Did It Come From and How Will It End?
w7156 Edward J. Kane
How Offshore Financial Competition Disciplines Exit Resistence by Incentive-Conflicted Bank Regulators
w7159 Narasimhan Jegadeesh
Sheridan Titman

Profitability of Momentum Strategies: An Evaluation of Alternative Explanations
w7175 Frederik P. Schlingemann
Rene M. Stulz
Ralph A. Walkling

Corporate Focusing and Internal Capital Markets
w7123 Gary Gorton
Matthias Kahl

Blockholder Identity, Equity Ownership Structures, and Hostile Takeovers
w6263 James M. Poterba
The Rate of Return to Corporate Capital and Factor Shares: New EstimatesUsing Revised National Income Accounts and Capital Stock Data
w7020 Steven Huddart
Ravi Jagannathan
Jane Saly

Valuing the Reload Features of Executive Stock Options
w7021 Rene M. Stulz
Globalization of Equity Markets and the Cost of Capital
w6938 Lucian Arye Bebchuk
Marcel Kahan

The 'Lemons Effect' in Corporate Freeze-Outs
w6951 Lucian Bebchuk
Reinier Kraakman
George Triantis

Stock Pyramids, Cross-Ownership, and the Dual Class Equity: The Creation and Agency Costs of Seperating Control from Cash Flow Rights
w6955 Tarun Khanna
Krishna Palepu

Emerging Market Business Groups, Foreign Investors, and Corporate Governance
w6962 Anil K. Kashyap
Raghuram Rajan
Jeremy C. Stein

Banks as Liquidity Providers: An Explanation for the Co-Existence of Lending and Deposit-Taking
w6875 Bengt Holmstrom
Managerial Incentive Problems: A Dynamic Perspective
w6906 Paul A. Gompers
Josh Lerner

What Drives Venture Capital Fundraising?
1998
w6823 Edward J. Kane
Kimberly DeTrask

Covering Up Trading Losses: Opportunity-Cost Accounting as an Internal Control Mechanism
w6837 Brian J. Hall
Regulatory Free Cash Flow and the High Cost of Insurance Company Failures
w6846 Samuel Kortum
Josh Lerner

Does Venture Capital Spur Innovation?
w6847 Paul Gompers
Josh Lerner

Conflict of Interest in the Issuance of Public Securities: Evidence from Venture Capital
w6868 George P. Baker
Brian J. Hall

CEO Incentives and Firm Size
w6814 Randall K. Morck
David A. Stangeland
Bernard Yeung

Inherited Wealth, Corporate Control and Economic Growth: The Canadian Disease
w6819 Paul G. Mahoney
Trust and Opportunism in Close Corporations
w6765 Clifford G. Holderness
Dennis P. Sheehan

Constraints on Large-Block Shareholders
w6723 Paul A. Gompers
Andrew Metrick

Institutional Investors and Equity Prices
w6725 Paul A. Gompers
Josh Lerner

The Determinants of Corporate Venture Capital Successes: Organizational Structure, Incentives, and Complementarities
w6726 Oliver Hart
John Moore

Foundations of Incomplete Contracts
w6673 Bengt Holmstrom
Jean Tirole

LAPM: A Liquidity-based Asset Pricing Model
w6674 Brian J. Hall
The Pay to Performance Incentives of Executive Stock Options
w6633 Edward J. Kane
Capital Movements, Asset Values, and Banking Policy in Globalized Markets
w6634 Rajesh Aggarwal
Andrew A. Samwick

The Other Side of the Tradeoff: The Impact of Risk on Executive Compensation
w6661 Hyuk Choe
Bong-Chan Kho
Rene M. Stulz

Do Foreign Investors Destabilize Stock Markets? The Korean Experience in 1997
w6665 Andrei Shleifer
State Versus Private Ownership
a0700 Robert W. Vishny
Corporate Finance
w6594 Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer
Robert Vishny

Agency Problems and Dividend Policies Around the World
w6625 Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer

Corporate Ownership Around the World
w6550 Clifford G. Holderness
Randall S. Kroszner
Dennis P. Sheehan

Were the Good Old Days That Good? Changes in Managerial Stock Ownership Since the Great Depression
w6553 Harrison Hong
Terence Lim
Jeremy C. Stein

Bad News Travels Slowly: Size, Analyst Coverage and the Profitability of Momentum Strategies
w6561 Stewart C. Myers
Outside Equity Financing
w6572 Kenneth A. Froot
Emil Dabora

How are Stock Prices Affected by the Location of Trade?
w6539 R. Glenn Hubbard
Darius Palia

A Re-Examination of the Conglomerate Merger Wave in the 1960s: An Internal Capital Markets View
w6451 Edward J. Kane
Berry K. Wilson

A Contracting-Theory Interpretation of the Origins of Federal Deposit Insurance
w6467 Christine Jolls
Stock Repurchases and Incentive Compensation
w6473 Lucian Arye Bebchuk
Chapter 11
w6394 Judith Chevalier
Glenn Ellison

Career Concerns of Mutual Fund Managers
w6421 Oliver Hart
John Moore

Cooperatives vs. Outside Ownership
w6433 William M. Gentry
R. Glenn Hubbard

Fundamental Tax Reform and Corporate Financial Policy
w6352 David S. Scharfstein
The Dark Side of Internal Capital Markets II: Evidence from Diversified Conglomerates
w6368 Raghuram Rajan
Henri Servaes
Luigi Zingales

The Cost of Diversity: The Diversification Discount and Inefficient Investment
1997
w6309 Luigi Zingales
Corporate Governance
w6324 Harrison Hong
Jeremy C. Stein

A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets
w6273 Luigi Zingales
Survival of the Fittest or the Fattest? Exit and Financing in the Trucking Industry
w6274 Raghuram G. Rajan
Luigi Zingales

Power in a Theory of the Firm
w6278 Oliver Hart
Rafael La Porta Drago
Florencio Lopez-de-Silane
John Moore

A New Bankruptcy Procedure that Uses Multiple Auctions
w6213 Brian J. Hall
Jeffrey B. Liebman

Are CEOs Really Paid Like Bureaucrats?
w6215 Rafael La Porta
Florencio Lopez-de-Silane

The Benefits of Privatization: Evidence from Mexico
w6234 Tim Opler
Lee Pinkowitz
Rene Stulz
Rohan Williamson

The Determinants and Implications of Corporate Cash Holdings
w6238 Jun-Koo Kang
Rene M. Stulz

Is Bank-Centered Corporate Governance Worth It? A Cross-Sectional Analysis of the Performance of Japanese Firms during the Asset Price Deflation
w6177 George Baker
Robert Gibbons
Kevin J. Murphy

Implicit Contracts and the Theory of the Firm
w6145 Gregor Andrade
Steven N. Kaplan

How Costly is Financial (not Economic) Distress? Evidence from Highly Leveraged Transactions that Became Distressed
w6056 Anil K Kashyap
Jeremy C. Stein

What Do a Million Banks Have to Say About the Transmission of Monetary Policy?
w6068 Assem Safieddine
Sheridan Titman

Debt and Corporate Performance: Evidence from Unsuccessful Takeovers
w6025 Kenneth A. Froot
The Limited Financing of Catastrophe Risk: An Overview
w6043 Kenneth A. Froot
Paul G. J. O'Connell

The Pricing of U.S. Catastrophe Reinsurance
w5996 R. Glenn Hubbard
Capital-Market Imperfections and Investment
w5999 Steven N. Kaplan
Mark L. Mitchell
Karen H. Wruck

A Clinical Exploration of Value Creation and Destruction in Acquisitions: Organizational Design, Incentives, and Internal Capital Markets
w6001 James M. Poterba
The History of Annuities in the United States
w6011 Kenneth A. Froot
Paul G. J. O'Connell

On The Pricing of Intermediated Risks: Theory and Application to Catastrophe Reinsurance
w6020 Edward J. Kane
Ethical Foundations of Financial Regulation
w5961 Owen Lamont
Jeremy C. Stein

Leverage and House-Price Dynamics in U.S. Cities
w5969 David S. Scharfstein
Jeremy C. Stein

The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment
w5879 Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer
Robert W. Vishny

Legal Determinants of External Finance
w5884 Albert Ando
John Hancock
Gary Sawchuk

Cost of Capital for the United States, Japan, and Canada: An Attempt at Measurement Based on Individual Company Records and Aggregate National Acccoun
w5907 Oliver Hart
John Moore

Default and Renegotiation: A Dynamic Model of Debt
1996
w5848 Berry K. Wilson
Edward J. Kane

The Demise of Double Liability as an Optimal Contract for Large-Bank Stockholders
w5852 Judith Chevalier
Glenn Ellison

Are Some Mutual Funds Managers Better Than Others? Cross-Sectional Patterns in Behavior and Performance
w5864 Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer
Robert W. Vishny

Trust in Large Organizations
w5817 Bengt Holmstrom
Jean Tirole

Private and Public Supply of Liquidity
w5819 Jun-Koo Kang
Yong-Cheol Kim
Rene M. Stulz

The Underreaction Hypothesis and the New Issue Puzzle: Evidence from Japan
w5744 Oliver Hart
Andrei Shleifer
Robert W. Vishny

The Proper Scope of Government: Theory and an Application to Prisons
w5758 Raghuram G. Rajan
Luigi Zingales

Financial Dependence and Growth
w5779 Gary Gorton
Bruce D. Grundy

Executive Compensation and the Optimality of Managerial Entrenchment
w5711 Armen Hovakimian
Edward J. Kane

Risk-Shifting by Federally Insured Commercial Banks
w5661 Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer
Robert W. Vishny

Law and Finance
w5602 Mitchell A. Petersen
Raghuram G. Rajan

Trade Credit: Theories and Evidence
w5604 Kent Daniel
Sheridan Titman

Evidence on the Characteristics of Cross Sectional Variation in Stock Returns
w5639 Hyun-Han Shin
Rene M. Stulz

An Analysis of Divisional Investment Policies
w5584 Lucian Arye Bebchuk
Luigi Zingales

Corporate Ownership Structures: Private versus Social Optimality
w5554 Andrei Shleifer
Robert W. Vishny

A Survey of Corporate Governance
w5494 Florencio Lopez-de-Silane
Determinants of Privatization Prices
w5496 Jeremy C. Stein
Rational Capital Budgeting in an Irrational World
w5498 Sudipto Dasgupta
Sheridan Titman

Pricing Strategy and Financial Policy
w5499 Owen Lamont
Cash Flow and Investment: Evidence from Internal Capital Markets
w5453 Gary Gorton
Frank A. Schmid

Universal Banking and the Performance of German Firms
w5403 Kenneth A. Froot
Jeremy C. Stein

Risk Management, Capital Budgeting and Capital Structure Policy for Financial Institutions: An Integrated Approach
w5462 Steven M. Fazzari
R. Glenn Hubbard
Bruce C. Petersen

Financing Constraints and Corporate Investment: Response to Kaplan and Zingales
1995
w5384 Walter Novaes
Luigi Zingales

Capital Structure Choice when Managers are in Control: Entrenchment versus Efficiency
w5396 Raghuram G. Rajan
Luigi Zingales

The Tyranny of Inequality
w5367 Marco Pagano
Fabio Panetta
Luigi Zingales

Why Do Companies Go Public? An Empirical Analysis
w5246 Patricia Born
William M. Gentry
W. Kip Viscusi
Richard J. Zeckhauser

Organizational Form and Insurance Company Performance: Stocks versus Mutuals
w5256 Randall S. Kroszner
Raghuram G. Rajan

Organization Structure and Credibility: Evidence from Commercial Bank Securities Activities Before the Glass-Steagall Act
w5267 Steven N. Kaplan
Luigi Zingales

Do Financing Constraints Explain Why Investment is Correlated with Cash Flow?
w5210 Nicholas Economides
R. Glenn Hubbard
Darius Palia

The Political Economy of Branching Restrictions and Deposit Insurance: A Model of Monopolistic Competition among Small and Large Banks
w5217 Jeremy C. Stein
An Adverse Selection Model of Bank Asset and Liability Management with Implications for the Transmission of Monetary Policy
w5229 Anne Gron
Deborah Lucas

External Financing and Insurance Cycles
w5232 Jason G. Cummins
Kevin A. Hassett
R. Glenn Hubbard

Tax Reforms and Investment: A Cross-Country Comparison
w5233 James Dow
Gary Gorton

Stock Market Efficiency and Economic Efficiency: Is There a Connection?
w5234 Judith A. Chevalier
Glenn D. Ellison

Risk Taking by Mutual Funds as a Response to Incentives
w5244 Gary Gorton
Andrew Winton

Bank Capital Regulation in General Equilibrium
w5165 Larry Lang
Eli Ofek
Rene M. Stulz

Leverage, Investment, and Firm Growth
w5166 Jun-Koo Kang
Rene M. Stulz

Why Is There a Home Bias? An Analysis of Foreign Portfolio Equity Ownership in Japan
w5143 Stewart C. Myers
Raghuram G. Rajan

The Paradox of Liquidity
w5101 Jeremy C. Stein
Internal Capital Markets and the Competition for Corporate Resources
w5111 Edward J. Kane
What is the Value-Added for Large U.S. Banks in Offering Mutual Funds?
w5113 Florencio Lopez-de-Silane
Andrei Shleifer
Robert W. Vishny

Privatization in the United States
w5136 Nicholas Barberis
Maxim Boycko
Andrei Shleifer
Natalia Tsukanova

How Does Privatization Work? Evidence from the Russian Shops
w5079 R. Glenn Hubbard
Darius Palia

Benefits of Control, Managerial Ownership, and the Stock Returns of Acquiring Firms
w5096 Robert C. Merton
Financial Innovation and the Management and Regulation of Financial Institutions
w5100 Gary Gorton
Richard Rosen

Banks and Derivatives
w5045 John H. Boyd
Mark Gertler

Are Banks Dead? Or Are the Reports Greatly Exaggerated?
a0714 Robert W. Vishny
Corporate Finance
1994
w4965 David Ikenberry
Josef Lakonishok
Theo Vermaelen

Market Underreaction to Open Market Share Repurchases
w4921 Mitchell A. Petersen
Raghuram G. Rajan

The Effect of Credit Market Competition on Lending Relationships
t0167 Peter F. Christoffersen
Francis X. Diebold

Optimal Prediction Under Asymmetric Loss
w4875 Raghuram G. Rajan
Luigi Zingales

What Do We Know About Capital Structure? Some Evidence from International Data
w4886 Oliver Hart
John Moore

Debt and Seniority: An Analysis of the Role of Hard Claims in Constraining Management
w4907 Kooyul Jung
Yong-Cheol Kim
Rene M. Stulz

Investment Opportunities, Managerial Decisions, and the Security Issue Decision
w4908 Jun-Koo Kang
Rene M. Stulz

How Different is Japanese Corporate Finance? An Investigation of the Information Content of New Security Issues
w4858 James Dow
Gary Gorton

Noise Trading, Delegated Portfolio Management, and Economic Welfare
w4821 Anil K Kashyap
Jeremy C. Stein

The Impact of Monetary Policy on Bank Balance Sheets
w4800 Charles W. Calomiris
Athanasios Orphanides
Steven A. Sharpe

Leverage as a State Variable for Employment, Inventory Accumulation, andFixed Investment
w4776 Robert H. Gertner
David S. Scharfstein
Jeremy C. Stein

Internal versus External Capital Markets
w4782 Jeremy C. Stein
Waves of Creative Destruction: Customer Bases and the Dynamics of Innovation
w4701 Edward J. Kane
Min-Teh Yu

How Much Did Capital Forbearance Add to the Cost of the S&L Insurance Mess
w4704 R. Glenn Hubbard
Darius Palia

Executive Pay and Performance: Evidence from the U.S. Banking Industry
w4722 Lakshmi Shyam-Sunder
Stewart C. Myers

Testing Static Trade-off Against Pecking Order Models of Capital Structure
w4724 Steven N. Kaplan
Richard S. Ruback

The Valuation of Cash Flow Forecasts: An Empirical Analysis
w4645 Rene M. Stulz
International Portfolio Choice and Asset Pricing: An Integrative Survey
w4648 Edward J. Kane
Robert Hendershott

"The Federal Deposit Insurance Fund That Didn't Put A Bite on U.S. Tax Payers"
w4654 Larry Lang
Annette Poulsen
Rene M. Stulz

Asset Sales, Firm Performance, and the Agency Costs of Managerial Discretion
w4608 Jeremy Bulow
Paul Klemperer

Auctions vs. Negotiations
1993
w4416 Steven N. Kaplan
Top Executives, Turnover and Firm Performance in Germany
w4421 Takeo Hoshi
Anil Kashyap
David Scharfstein

The Choice Between Public and Private Debt: An Analysis of Post-Deregulation Corporate Financing in Japan
w4393 Joel M. Dickson
John B. Shoven

Ranking Mutual Funds on an After-Tax Basis
w4400 Gary Gorton
Reputation Formation in Early Bank Debt Markets
w4408 Charles W. Calomiris
Corporate-Finance Benefits from Universal Banking: Germany and the United States, 1870-1914
w4376 Larry H.P. Lang
Rene M. Stulz

Tobin's Q, Corporate Diversification and Firm Performance
w4392 R. Glenn Hubbard
Anil K Kashyap
Toni M. Whited

Internal Finance and Firm Investment
w4316 Robert Comment
G. William Schwert

Poison or Placebo? Evidence on the Deterrent and Wealth Effects of Modern Antitakeover Measures
w4288 Charles W. Calomiris
R. Glenn Hubbard

Internal Finance and Investment: Evidence from the Undistributed Profits Tax of 1936-1937
w4273 Gary Gorton
James A. Kahn

The Design of Bank Loan Contracts, Collateral, and Renegotiation
w4276 Steven Kaplan
Bernadette Minton

'Outside' Intervention in Japanese Companies: Its Determinants and Implications for Mangers
w4258 Olivier J. Blanchard
Florencio Lopez-de-Silane

What do Firms do with Cash Windfalls?
1992
w4244 B. Douglas Bernheim
Adam Wantz

A Tax-Based Test of the Dividend Signaling Hypothesis
w4247 Gary Gorton
Richard Rosen

Corporate Control, Portfolio Choice, and the Decline of Banking
w4211 Anil K Kashyap
Owen A. Lamont
Jeremy C. Stein

Credit Conditions and the Cyclical Behavior of Inventories: A Case Studyof the 1981-82 Recession
w4135 Kevin J. Murphy
Robert Gibbons

Does Executive Compensation Affect Investment?
r1737 Patric H. Hendershott
Edward J. Kane

Causes and Consequences of the 1980s Commercial Construction Boom
w4128 Patric Hendershott
Edward J. Kane

Office Market Values During the Past Decade: How Distorted Have Appraisals Been?
w4092 Frank R. Lichtenberg
George. M Pushner

Ownership Structure and Corporate Performance in Japan
w4096 Bronwyn H. Hall
Investment and Research and Development at the Firm Level: Does the Source of Financing Matter?
w4097 Philippe Aghion
Oliver Hart
John Moore

The Economics of Bankruptcy Reform
w4065 Steven N. Kaplan
Top Executive Rewards and Firm Performance: A Comparison of Japan and the U.S.
w4084 Kenneth A. Froot
David S. Scharfstein
Jeremy C. Stein

Risk Management: Coordinating Corporate Investment and Financing Policies
w4028 Jeremy C. Stein
Convertible Bonds as "Back Door" Equity Financing
1991
w3942 Paul Asquith
Robert Gertner
David Scharfstein

Anatomy of Financial Distress: An Examination of Junk-Bond Issuers
w3902 Mark Gertler
R. Glenn Hubbard

Corporate Financial Policy, Taxation, and Macroeconomic Risk
w3906 Oliver Hart
John Moore

A Theory of Debt Based on the Inalienability of Human Capital
1978
w0266 Jay B. Morrison
David H. Pyle

Interest Rate Risk and the Regulation of Financial Institutions

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