NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Corporate Finance Archive


2012
w18634 Nolan Miller
Alexander F. Wagner
Richard J. Zeckhauser

Solomonic Separation: Risk Decisions as Productivity Indicators

w18611 Gary Gorton
Andrew Metrick

Securitization

w18609 Sumit Agarwal
Efraim Benmelech
Nittai Bergman
Amit Seru

Did the Community Reinvestment Act (CRA) Lead to Risky Lending?

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

w18592 Xavier Giroud
Holger M. Mueller

Capital and Labor Reallocation Inside Firms

w18561 Kalina Manova
Zhihong Yu

Firms and Credit Constraints along the Global Value Chain: Processing Trade in China

w18549 Tobias Adrian
Brian Begalle
Adam Copeland
Antoine Martin

Repo and Securities Lending

w18548 Harrison Hong
David Sraer

Speculative Betas

w18547 Harrison Hong
David Sraer

Quiet Bubbles

w18537 Robin Greenwood
Augustin Landier
David Thesmar

Vulnerable Banks

w18528 Victoria Ivashina
David S. Scharfstein
Jeremy C. Stein

Dollar Funding and the Lending Behavior of Global Banks

w18516 Viral V. Acharya
Ramin P. Baghai
Krishnamurthy V. Subramanian

Wrongful Discharge Laws and Innovation

w18513 Zhiguo He
Asaf Manela

Information Acquisition in Rumor Based Bank Runs

w18505 Lars Peter Hansen
Challenges in Identifying and Measuring Systemic Risk

w18476 Harrison Hong
Jeffrey D. Kubik
Jose A. Scheinkman

Financial Constraints on Corporate Goodness

w18472 Jesse Edgerton
Investment, Accounting, and the Salience of the Corporate Income Tax

w18465 Kristin Forbes
The "Big C": Identifying Contagion

w18463 Dean Karlan
Robert Darko Osei
Isaac Osei-Akoto
Christopher Udry

Agricultural Decisions after Relaxing Credit and Risk Constraints

w18455 Gary B. Gorton
Andrew Metrick

Who Ran on Repo?

w18452 Pierre Collin-Dufresne
Vyacheslav Fos

Do prices reveal the presence of informed trading?

w18451 Pierre Collin-Dufresne
Vyacheslav Fos

Insider Trading, Stochastic Liquidity and Equilibrium Prices

w18450 Frederico Belo
Pierre Collin-Dufresne
Robert S. Goldstein

Endogenous Dividend Dynamics and the Term Structure of Dividend Strips

w18435 Kewei Hou
Chen Xue
Lu Zhang

Digesting Anomalies: An Investment Approach

w18428 Joon-Ho Hahm
Hyun Song Shin
Kwanho Shin

Non-Core Bank Liabilities and Financial Vulnerability

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

w18408 Zhiguo He
Konstantin Milbradt

Endogenous Liquidity and Defaultable Bonds

w18398 Markus K. Brunnermeier
Martin Oehmke

Bubbles, Financial Crises, and Systemic Risk

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

w18394 John Y. Campbell
Tarun Ramadorai
Benjamin Ranish

How Do Regulators Influence Mortgage Risk: Evidence from an Emerging Market

w18367 Hui Chen
Yu Xu
Jun Yang

Systematic Risk, Debt Maturity, and the Term Structure of Credit Spreads

w18358 Michael J. Fishman
Jonathan A. Parker

Valuation, Adverse Selection, and Market Collapses

w18356 Jongha Lim
Bernadette A. Minton
Michael Weisbach

Syndicated Loan Spreads and the Composition of the Syndicate

w18346 Gordon M. Phillips
Alexei Zhdanov

R&D and the Incentives from Merger and Acquisition Activity

w18335 Tobias Adrian
Paolo Colla
Hyun Song Shin

Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007-9

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

w18339 John Y. Campbell
Mortgage Market Design

w18325 Dean Karlan
Ryan Knight
Christopher Udry

Hoping to Win, Expected to Lose: Theory and Lessons on Micro Enterprise Development

w18321 Ralph S.J. Koijen
Motohiro Yogo

The Cost of Financial Frictions for Life Insurers

w18304 Efraim Benmelech
An Empirical Analysis of the Fed's Term Auction Facility

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?

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

w18263 Florian Heider
Alexander Ljungqvist

As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from Exogenous State Tax Changes

w18242 Malcolm Baker
Jeffrey Wurgler

Dividends as Reference Points: A Behavioral Signaling Approach

w18241 Leonardo Bursztyn
Florian Ederer
Bruno Ferman
Noam Yuchtman

Understanding Peer Effects in Financial Decisions: Evidence from a Field Experiment

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

Cash is King - Revaluation of Targets after Merger Bids

w18174 Nicola Gennaioli
Andrei Shleifer
Robert W. Vishny

Money Doctors

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

w18148 Stewart C. Myers
James A. Read
Jr.

Real Options, Taxes and Financial Leverage

w18147 Murillo Campello
Erasmo Giambona

Real Assets and Capital Structure

w18141 Paul Gompers
Vladimir Mukharlyamov
Yuhai Xuan

The Cost of Friendship

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

w18096 Raymond Fisman
Daniel Paravisini
Vikrant Vig

Cultural Proximity and Loan Outcomes

w18095 Raymond Fisman
Florian Schulz
Vikrant Vig

Private Returns to Public Office

w18080 Edward Kutsoati
Randall Morck

Family Ties, Inheritance Rights, and Successful Poverty Alleviation: Evidence from Ghana

w18077 Thomas Philippon
Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation

w18063 Robert Novy-Marx
Pseudo-Predictability in Conditional Asset Pricing Tests: Explaining Anomaly Performance with Politics, the Weather, Global Warming, Sunspots, and the Stars

w18052 Kristin Forbes
Marcel Fratzscher
Thomas Kostka
Roland Straub

Bubble Thy Neighbor: Portfolio Effects and Externalities from Capital Controls

w18050 Martijn Cremers
Antti Petajisto
Eric Zitzewitz

Should Benchmark Indices Have Alpha? Revisiting Performance Evaluation

w18043 Armen Hovakimian
Edward J. Kane
Luc Laeven

Variation in Systemic Risk at US Banks During 1974-2010

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

w18004 Asli Demirguc-Kunt
Erik Feyen
Ross Levine

The Evolving Importance of Banks and Securities Markets

w18001 Robert Davidson
Aiyesha Dey
Abbie J. Smith

Executives' "Off-The-Job" Behavior, Corporate Culture, and Financial Reporting Risk

w17952 Dean Karlan
Melanie Morten
Jonathan Zinman

A Personal Touch: Text Messaging for Loan Repayment

w17950 Robert G. Eccles
Ioannis Ioannou
George Serafeim

The Impact of Corporate Sustainability on Organizational Processes and Performance

w17947 Pedro Bordalo
Nicola Gennaioli
Andrei Shleifer

Salience and Consumer Choice

w17946 Ilya A. Strebulaev
Baozhong Yang

The Mystery of Zero-Leverage Firms

w17945 Steven Grenadier
Andrey Malenko
Ilya A. Strebulaev

Investment Busts, Reputation, and the Temptation to Blend in with the Crowd

w17942 David T. Robinson
Berk A. Sensoy

Do Private Equity Managers Earn Their Fees? Compensation, Ownership, and Cash Flow Performance

w17940 David Yermack
Tailspotting: Identifying and profiting from CEO vacation trips

w17935 Zhiguo He
Wei Xiong

Debt Financing in Asset Markets

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

w17904 Nikolai Roussanov
Pavel G. Savor

Status, Marriage, and Managers' Attitudes To Risk

w17902 Diego A. Comin
An Exploration of Luxury Hotels in Tanzania

w17895 Bruce Ian Carlin
Florian Ederer

Search Fatigue

w17889 Timothy F. Bresnahan
Jonathan D. Levin

Vertical Integration and Market Structure

w17883 Gharad T. Bryan
Dean Karlan
Jonathan Zinman

Referrals: Peer Screening and Enforcement in a Consumer Credit Field Experiment

w17874 Robert S. Harris
Tim Jenkinson
Steven N. Kaplan

Private Equity Performance: What Do We Know?

w17868 Charles W. Calomiris
Doron Nissim

Crisis-Related Shifts in the Market Valuation of Banking Activities

w17867 Isil Erel
Yeejin Jang
Michael S. Weisbach

Financing-Motivated Acquisitions

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?

w17854 Kay Giesecke
Francis A. Longstaff
Stephen Schaefer
Ilya Strebulaev

Macroeconomic Effects of Corporate Default Crises: A Long-Term Perspective

w17846 Maria Guadalupe
Hongyi Li
Julie Wulf

Who Lives in the C-Suite? Organizational Structure and the Division of Labor in Top Management

w17838 Viral V. Acharya
Nada Mora

Are Banks Passive Liquidity Backstops? Deposit Rates and Flows during the 2007-2009 Crisis

w17832 Manuel Adelino
Antoinette Schoar
Felipe Severino

Credit Supply and House Prices: Evidence from Mortgage Market Segmentation

w17831 Atif R. Mian
Amir Sufi
Francesco Trebbi

Resolving Debt Overhang: Political Constraints in the Aftermath of Financial Crises

w17830 Atif R. Mian
Amir Sufi

What explains high unemployment? The aggregate demand channel

w17828 Franklin Allen
Jun “QJ” Qian
Chenying Zhang
Mengxin Zhao

China’s Financial System: Opportunities and Challenges

w17822 Shekhar Aiyar
Charles W. Calomiris
Tomasz Wieladek

Does Macro-Pru Leak? Evidence from a UK Policy Experiment

w17805 Murillo Campello
Dirk Hackbarth

The Firm-Level Credit Multiplier

w17797 Bo Becker
Daniel Bergstresser
Guhan Subramanian

Does Shareholder Proxy Access Improve Firm Value? Evidence from the Business Roundtable Challenge

w17778 Gary B. Gorton
Andrew Metrick

Getting up to Speed on the Financial Crisis: A One-Weekend-Reader's Guide

w17777 Gary B. Gorton
Stefan Lewellen
Andrew Metrick

The Safe-Asset Share

w17771 Gary B. Gorton
Guillermo Ordonez

Collateral Crises

w17770 Jason M. DeBacker
Bradley T. Heim
Anh Tran

Importing Corruption Culture from Overseas: Evidence from Corporate Tax Evasion in the United States

w17769 Leonid Kogan
Dimitris Papanikolaou
Amit Seru
Noah Stoffman

Technological Innovation, Resource Allocation, and Growth

w17768 Arvind Krishnamurthy
Stefan Nagel
Dmitry Orlov

Sizing Up Repo

w17763 Juan Carlos Gozzi
Ross Levine
Maria Soledad Martinez Peria
Sergio L. Schmukler

How Firms Use Domestic and International Corporate Bond Markets

w17761 Pedro Bordalo
Nicola Gennaioli
Andrei Shleifer

Salience in Experimental Tests of the Endowment Effect

w17760 Raghuram Rajan
The Corporation in Finance

w17736 Sumit Agarwal
David Lucca
Amit Seru
Francesco Trebbi

Inconsistent Regulators: Evidence From Banking

w17731 Serguey Braguinsky
Sergey V. Mityakov

Foreign Corporations and the Culture of Transparency: Evidence from Russian Administrative Data


2011
w17719 Philip Bond
Alex Edmans
Itay Goldstein

The Real Effects of Financial Markets

w17717 Gregor Matvos
Amit Seru

Resource Allocation within Firms and Financial Market Dislocation: Evidence from Diversified Conglomerates

w17696 Viral V. Acharya
Bart M. Lambrecht

A Theory of Income Smoothing When Insiders Know More Than Outsiders

w17691 Nicolas Coeurdacier
Hélène Rey

Home Bias in Open Economy Financial Macroeconomics

w17687 Joseph Fan
Randall Morck
Bernard Yeung

Capitalizing China

w17663 Dirk Jenter
Katharina Lewellen

CEO Preferences and Acquisitions

w17661 Bo Becker
Per Strömberg

Fiduciary Duties and Equity-Debtholder Conflicts

w17660 Martin Goetz
Luc Laeven
Ross Levine

The Valuation Effects of Geographic Diversification: Evidence from U.S. Banks

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

w17606 Alex Edmans
Itay Goldstein
John Y. Zhu

Contracting With Synergies

w17599 Patrick Bolton
Martin Oehmke

Should Derivatives be Privileged in Bankruptcy?

w17590 Antoinette Schoar
Luo Zuo

Shaped by Booms and Busts: How the Economy Impacts CEO Careers and Management Styles

w17582 Alex Edmans
Itay Goldstein
Wei Jiang

Feedback Effects and the Limits to Arbitrage

w17568 Wonho Wilson Choi
Andrew Metrick
Ayako Yasuda

A Model of Private Equity Fund Compensation

w17567 Alex Edmans
Vivian W. Fang
Emanuel Zur

The Effect of Liquidity on Governance

w17558 Viral V. Acharya
A Transparency Standard for Derivatives

w17548 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

A Theory of Asset Pricing Based on Heterogeneous Information

w17545 Ernst Fehr
Oliver D. Hart
Christian Zehnder

How Do Informal Agreements and Renegotiation Shape Contractual Reference Points?

w17542 Viral V. Acharya
Raghuram G. Rajan

Sovereign Debt, Government Myopia, and the Financial Sector

w17523 Marco Da Rin
Thomas F. Hellmann
Manju Puri

A survey of venture capital research

w17522 Kristian Rydqvist
Joshua Spizman
Ilya A. Strebulaev

Government Policy and Ownership of Financial Assets

w17518 Todd A. Gormley
Simon Johnson
Changyong Rhee

Ending "Too Big To Fail": Government Promises vs. Investor Perceptions

w17517 Alon Brav
Wei Jiang
Hyunseob Kim

The Real Effects of Hedge Fund Activism: Productivity, Risk, and Product Market Competition

w17516 John Y. Campbell
João F. Cocco

A Model of Mortgage Default

w17509 Miriam Schwartz-Ziv
Michael Weisbach

What do Boards Really Do? Evidence from Minutes of Board Meetings

w17506 Alp Simsek
Speculation and Risk Sharing with New Financial Assets

w17481 Bo Becker
Marcus Jacob
Martin Jacob

Payout Taxes and the Allocation of Investment

w17454 Tobias Adrian
Markus K. Brunnermeier

CoVaR

w17468 Efraim Benmelech
Eyal Dvir

Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis

w17463 Asli M. Arikan
René M. Stulz

Corporate Acquisitions, Diversification, and the Firm’s Lifecycle

w17428 David T. Robinson
Berk A. Sensoy

Cyclicality, Performance Measurement, and Cash Flow Liquidity in Private Equity

w17422 Jakub W. Jurek
Erik Stafford

Crashes and Collateralized Lending

w17416 Jules H. van Binsbergen
Wouter Hueskes
Ralph Koijen
Evert B. Vrugt

Equity Yields

w17399 Steven J. Davis
John C. Haltiwanger
Ron S. Jarmin
Josh Lerner
Javier Miranda

Private Equity and Employment

w17394 John Asker
Joan Farre-Mensa
Alexander Ljungqvist

Comparing the Investment Behavior of Public and Private Firms

w17393 Bo Becker
Henrik Cronqvist
Rüdiger Fahlenbrach

Estimating the Effects of Large Shareholders Using a Geographic Instrument

w17392 Bo Becker
Victoria Ivashina

Cyclicality of Credit Supply: Firm Level Evidence

w17370 John R. Graham
Campbell R. Harvey
Manju Puri

Capital Allocation and Delegation of Decision-Making Authority within Firms

w17351 Kristin J. Forbes
Francis E. Warnock

Capital Flow Waves: Surges, Stops, Flight, and Retrenchment

w17333 Malcolm Baker
Jeffrey Wurgler

Behavioral Corporate Finance: An Updated Survey

w17330 Elias Albagli
Christian Hellwig
Aleh Tsyvinski

Information Aggregation, Investment, and Managerial Incentives

w17321 Marcin Kacperczyk
Philipp Schnabl

Implicit Guarantees and Risk Taking: Evidence from Money Market Funds

w17315 Gene Amromin
Jennifer Huang
Clemens Sialm
Edward Zhong

Complex Mortgages

w17305 Takero Doi
Takeo Hoshi
Tatsuyoshi Okimoto

Japanese Government Debt and Sustainability of Fiscal Policy

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

w17292 Clemens Sialm
T. Mandy Tham

Spillover Effects in Mutual Fund Companies

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

w17269 Isil Erel
Taylor D. Nadauld
René M. Stulz

Why Did U.S. Banks Invest in Highly-Rated Securitization Tranches?

w17266 Raghuram G. Rajan
Rodney Ramcharan

Constituencies and Legislation: The Fight over the McFadden Act of 1927

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

w17233 Gordon M. Phillips
Giorgo Sertsios

How Do Firm Financial Conditions Affect Product Quality and Pricing?

w17221 Gerard Hoberg
Gordon M. Phillips

Conglomerate Industry Choice and Product Di fferentiation

w17202 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Tax Policy and the Efficiency of U.S. Direct Investment Abroad

w17199 Ngoc-Khanh Tran
Richard J. Zeckhauser

The Behavior of Savings and Asset Prices When Preferences and Beliefs are Heterogeneous

w17197 Robin Greenwood
Samuel G. Hanson

Issuer Quality and the Credit Cycle

w17192 Efraim Benmelech
Nittai K. Bergman
Ricardo Enriquez

Negotiating with Labor Under Financial Distress

w17191 Francois Gourio
Leena Rudanko

Customer Capital

w17186 Konrad B. Burchardi
Tarek Alexander Hassan

The Economic Impact of Social Ties: Evidence from German Reunification

w17181 Thomas Åstebro
Carlos J. Serrano

Business Partners, Financing, and the Commercialization of Inventions

w17169 Chongyang Chen
Zhonglan Dai
Douglas Shackelford
Harold Zhang

Does Financial Constraint Affect Shareholder Taxes and the Cost of Equity Capital?

w17146 Leora F. Klapper
Luc Laeven
Raghuram Rajan

Trade Credit Contracts

w17144 Efraim Benmelech
Nittai K. Bergman
Amit Seru

Financing Labor

w17136 Viral V. Acharya
Itamar Drechsler
Philipp Schnabl

A Pyrrhic Victory? - Bank Bailouts and Sovereign Credit Risk

w17127 Lucian A. Bebchuk
Alma Cohen
Charles C.Y. Wang

Staggered Boards and the Wealth of Shareholders: Evidence from Two Natural Experiments

w17122 Yael V. Hochberg
Joshua D. Rauh

Local Overweighting and Underperformance: Evidence from Limited Partner Private Equity Investments

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

w17065 Christopher J. Mayer
Edward Morrison
Tomasz Piskorski
Arpit Gupta

Mortgage Modification and Strategic Behavior: Evidence from a Legal Settlement with Countrywide

w17064 Harold L. Cole
Felix Kubler

Recursive Contracts, Lotteries and Weakly Concave Pareto Sets

w17061 Antoinette Schoar
Ebonya L. Washington

Are the Seeds of Bad Governance Sown in Good Times?

w17041 Erik Hurst
Benjamin Wild Pugsley

What Do Small Businesses Do?

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

w17026 Francois Gourio
Credit Risk and Disaster Risk

w17010 Mike Burkart
Denis Gromb
Holger M. Mueller
Fausto Panunzi

Legal Investor Protection and Takeovers

w16995 Viral V. Acharya
Sergei A. Davydenko
Ilya A. Strebulaev

Cash Holdings and Credit Risk

w16979 Fiorella De Fiore
Harald Uhlig

Bank Finance Versus Bond Finance

w16975 Daniel Paravisini
Veronica Rappoport
Philipp Schnabl
Daniel Wolfenzon

Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data

w16967 Manju Puri
Jörg Rocholl
Sascha Steffen

Global retail lending in the aftermath of the US financial crisis: Distinguishing between supply and demand effects

w16941 Isil Erel
Brandon Julio
Woojin Kim
Michael S. Weisbach

Macroeconomic Conditions and Capital Raising

w16929 Oliver D. Hart
Noncontractible Investments and Reference Points

w16923 Laura Bottazzi
Marco Da Rin
Thomas F. Hellmann

The Importance of Trust for Investment: Evidence from Venture Capital

w16922 Thomas F. Hellmann
Noam Wasserman

The First Deal: The Division of Founder Equity in New Ventures

w16918 Josh Lerner
Ulrike Malmendier

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

w16916 Craig Doidge
G. Andrew Karolyi
René M. Stulz

The U.S. Left Behind: The Rise of IPO Activity Around the World

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

w16875 Viral V. Acharya
Lars A. Lochstoer
Tarun Ramadorai

Limits to Arbitrage and Hedging: Evidence from Commodity Markets

w16874 Vikas Mehrotra
Randall Morck
Jungwook Shim
Yupana Wiwattanakantang

Adoptive Expectations: Rising Sons in Japanese Family Firms

w16871 Yongheng Deng
Randall Morck
Jing Wu
Bernard Yeung

Monetary and Fiscal Stimuli, Ownership Structure, and China's Housing Market

w16870 Randall Morck
Finance and Governance in Developing Economies

w16849 Taylor D. Nadauld
Michael S. Weisbach

Did Securitization Affect the Cost of Corporate Debt?

w16843 Chong Wang
Neng Wang
Jinqiang Yang

Dynamics of Entrepreneurship under Incomplete Markets

w16842 Yingcong Lan
Neng Wang
Jinqiang Yang

The Economics of Hedge Funds: Alpha, Fees, Leverage, and Valuation

w16812 Carola Frydman
Raven S. Molloy

Does Tax Policy Affect Executive Compensation? Evidence from Postwar Tax Reforms

w16808 Patrick Bolton
Hui Chen
Neng Wang

Market Timing, Investment, and Risk Management

w16804 Patrick Bolton
Tano Santos
Jose A. Scheinkman

Cream Skimming in Financial Markets

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

w16780 Josh Lerner
Peter Tufano

The Consequences of Financial Innovation: A Counterfactual Research Agenda

w16770 Ravi Jagannathan
Iwan Meier
Vefa Tarhan

The Cross-Section of Hurdle Rates for Capital Budgeting: An Empirical Analysis of Survey Data

w16766 Efraim Benmelech
Jennifer Dlugosz
Victoria Ivashina

Securitization without Adverse Selection: The Case of CLOs

w16747 Laura Xiaolei Liu
Lu Zhang

A Model of Momentum

w16737 Hans B. Christensen
Luzi Hail
Christian Leuz

Capital-Market Effects of Securities Regulation: Hysteresis, Implementation, and Enforcement

w16727 Thomas Philippon
Philipp Schnabl

Informational Rents, Macroeconomic Rents, and Efficient Bailouts

w16724 Heitor Almeida
Murillo Campello
Dirk Hackbarth

Liquidity Mergers

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
w16652 Andrew Metrick
Ayako Yasuda

Venture Capital and Other Private Equity: A Survey

w16642 Andrei Shleifer
Robert W. Vishny

Fire Sales in Finance and Macroeconomics

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

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

w16574 Vicente Cuñat
Mireia Gine
Maria Guadalupe

The Vote is Cast: The Effect of Corporate Governance on Shareholder Value

w16559 Charles W. Calomiris
Inessa Love
Maria Soledad Martinez Peria

Crisis “Shock Factors” and the Cross-Section of Global Equity Returns

w16558 Randall Morck
Shareholder Democracy in Canada

w16553 Priyank Gandhi
Hanno Lustig

Size Anomalies in U.S. Bank Stock Returns: A Fiscal Explanation

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

w16490 Randall Morck
Bernard Yeung

Agency Problems and the Fate of Capitalism

w16485 Viral V. Acharya
Peter M. DeMarzo
Ilan Kremer

Endogenous Information Flows and the Clustering of Announcements

w16484 Viral V. Acharya
Ramin P. Baghai
Krishnamurthy V. Subramanian

Labor Laws and Innovation

w16445 Joseph P.H. Fan
Sheridan Titman
Garry Twite

An International Comparison of Capital Structure and Debt Maturity Choices

w16437 Lauren Cohen
Christopher Malloy

Friends in High Places

w16404 Bo Becker
Todd Milbourn

How did increased competition affect credit ratings?

w16395 Viral V. Acharya
Ouarda Merrouche

Precautionary Hoarding of Liquidity and Inter-Bank Markets: Evidence from the Sub-prime Crisis

w16387 Pedro Bordalo
Nicola Gennaioli
Andrei Shleifer

Salience Theory of Choice Under Risk

w16376 Jeffrey Wurgler
On the Economic Consequences of Index-Linked Investing

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

w16340 Vikas Mehrotra
Randall Morck
Jungwook Shim
Yupana Wiwattanakantang

Must Love Kill the Family Firm?

w16336 Frederico Belo
Chen Xue
Lu Zhang

Cross-sectional Tobin's Q

w16335 Steven N. Kaplan
Tobias J. Moskowitz
Berk A. Sensoy

The Effects of Stock Lending on Security Prices: An Experiment

w16328 Ron Kaniel
Cade Massey
David T. Robinson

The Importance of Being an Optimist: Evidence from Labor Markets

w16310 Kathleen M. Kahle
René M. Stulz

Financial Policies and the Financial Crisis: How Important Was the Systemic Credit Contraction for Industrial Corporations?

w16309 Murillo Campello
Erasmo Giambona
John R. Graham
Campbell R. Harvey

Liquidity Management and Corporate Investment During a Financial Crisis

w16272 Alicia M. Robb
David T. Robinson

The Capital Structure Decisions of New Firms

w16271 Bruce Ian Carlin
David T. Robinson

What Does Financial Literacy Training Teach Us?

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.

w16215 Itzhak Ben-David
John R. Graham
Campbell R. Harvey

Managerial Miscalibration

w16214 Ravi Jagannathan
Andrei Jirnyi
Ann Sherman

Why Don't Issuers Choose IPO Auctions? The Complexity of Indirect Mechanisms

w16210 Bart M. Lambrecht
Stewart C. Myers

A Litner Model of Payout and Managerial Rents

w16200 Efraim Benmelech
Nittai K. Bergman

Credit Traps

w16197 Ali Hortaçsu
Gregor Matvos
Chad Syverson
Sriram Venkataraman

Are Consumers Affected by Durable Goods Makers' Financial Distress? The Case of Auto Manufacturers

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

w16178 Andrew Ellul
Vijay Yerramilli

Stronger Risk Controls, Lower Risk: Evidence from U.S. Bank Holding Companies

w16177 Franklin Allen
Ana Babus
Elena Carletti

Financial Connections and Systemic Risk

w16176 Ing-Haw Cheng
Harrison Hong
Jose A. Scheinkman

Yesterday's Heroes: Compensation and Creative Risk-Taking

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

w16085 Bruce Ian Carlin
Shaun William Davies
Andrew Miles Iannaccone

Competing for Attention in Financial Markets

w16080 V.V. Chari
Ali Shourideh
Ariel Zetlin-Jones

Adverse Selection, Reputation and Sudden Collapses in Secondary Loan Markets

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

w16068 Nicola Gennaioli
Andrei Shleifer
Robert W. Vishny

Neglected Risks, Financial Innovation, and Financial Fragility

w16066 Courtney C. Coile
Phillip B. Levine

Recessions, Reeling Markets, and Retiree Well-Being

w16063 Daniel Paravisini
Veronica Rappoport
Enrichetta Ravina

Risk Aversion and Wealth: Evidence from Person-to-Person Lending Portfolios

w16060 Thomas Chaney
David Sraer
David Thesmar

The Collateral Channel: How Real Estate Shocks Affect Corporate Investment

w16042 Brock Mendel
Andrei Shleifer

Chasing Noise

w16031 Lucian A. Bebchuk
Itay Goldstein

Self-Fulfilling Credit Market Freezes

w16023 Jules H. van Binsbergen
John Graham
Jie Yang

The Cost of Debt

w15999 Patrick Bolton
Martin Oehmke

Credit Default Swaps and the Empty Creditor Problem

w15993 Huseyin Gulen
Yuhang Xing
Lu Zhang

Value versus Growth: Time-Varying Expected Stock Returns

w15992 Hernán Ortiz-Molina
Gordon M. Phillips

Asset Liquidity and the Cost of Capital

w15991 Gerard Hoberg
Gordon M. Phillips

Text-Based Network Industries and Endogenous Product Di fferentiation

w15987 Alex Edmans
Xavier Gabaix

Risk and the CEO Market: Why Do Some Large Firms Hire Highly-Paid, Low-Talent CEOs?

w15956 Ross Levine
An Autopsy of the U.S. Financial System

w15952 Ulf Axelson
Tim Jenkinson
Per Strömberg
Michael S. Weisbach

Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts

w15951 Heitor Almeida
Murillo Campello
Antonio F. Galvao Jr.

Measurement Errors in Investment Equations

w15950 Jin Ginger Wu
Lu Zhang

Does Risk Explain Anomalies? Evidence from Expected Return Estimates

w15948 Robin Greenwood
Samuel Hanson

Characteristic Timing

w15919 Zhiguo He
In Gu Khang
Arvind Krishnamurthy

Balance Sheet Adjustments in the 2008 Crisis

w15917 Rüdiger Fahlenbrach
Angie Low
René M. Stulz

The dark side of outside directors: Do they quit when they are most needed?

w15912 Lucian A. Bebchuk
Alma Cohen
Charles C.Y. Wang

Learning and the Disappearing Association Between Governance and Returns

w15910 Sergey Chernenko
C. Fritz Foley
Robin Greenwood

Agency Costs, Mispricing, and Ownership Structure

w15906 John R. Graham
Campbell R. Harvey
Manju Puri

A Corporate Beauty Contest

w15900 Sebnem Kalemli-Ozcan
Bent Sørensen
Vadym Volosovych

Deep Financial Integration and Volatility

w15896 Atif R. Mian
Amir Sufi

Household Leverage and the Recession of 2007 to 2009

w15884 Randall Morck
Fan Yang

The Shanxi Banks

w15861 Jeffrey Brown
Stephen G. Dimmock
Jun-Koo Kang
Scott Weisbenner

How University Endowments Respond to Financial Market Shocks: Evidence and Implications

w15839 Lauren Cohen
Joshua D. Coval
Christopher Malloy

Do Powerful Politicians Cause Corporate Downsizing?

w15837 Viral V. Acharya
S. Viswanathan

Leverage, Moral Hazard and Liquidity

w15833 Allaudeen Hameed
Randall Morck
Jianfeng Shen
Bernard Yeung

Information, analysts, and stock return comovement

w15831 William R. Kerr
Josh Lerner
Antoinette Schoar

The Consequences of Entrepreneurial Finance: A Regression Discontinuity Analysis

w15806 Gara Afonso
Anna Kovner
Antoinette Schoar

Stressed not Frozen: The Fed Funds Market in the Financial Crisis

w15787 Gary B. Gorton
Questions and Answers about the Financial Crisis

w15786 Liran Einav
Jonathan D. Levin

Empirical Industrial Organization: A Progress Report

w15785 Thomas Philippon
Vasiliki Skreta

Optimal Interventions in Markets with Adverse Selection

w15783 Robert S. Gibbons
Richard T. Holden
Michael L. Powell

Rational-Expectations Equilibrium in Intermediate Good Markets

w15735 Efraim Benmelech
Nittai K. Bergman

Vintage Capital and Creditor Protection

w15730 Viral V. Acharya
Philipp Schnabl
Gustavo Suarez

Securitization without risk transfer

w15708 Efraim Benmelech
Nittai K. Bergman

Bankruptcy and the Collateral Channel

w15674 Viral V. Acharya
Douglas Gale
Tanju Yorulmazer

Rollover Risk and Market Freezes

w15662 Ricardo Reis
Interpreting the Unconventional U.S. Monetary Policy of 2007-09

w15659 Ulrike Malmendier
Geoffrey Tate
Jonathan Yan

Overconfidence and Early-life Experiences: The Impact of Managerial Traits on Corporate Financial Policies

w15653 Zhiguo He
Wei Xiong

Rollover Risk and Credit Risk

w15652 Andrei Shleifer
Robert W. Vishny

Asset Fire Sales and Credit Easing

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

w15569 Viral V. Acharya
Yakov Amihud
Lubomir Litov

Creditor rights and corporate risk-taking

w15568 Viral V. Acharya
Stewart C. Myers
Raghuram Rajan

The Internal Governance of Firms

w15567 Viral V. Acharya
Hyun Song Shin
Tanju Yorulmazer

Crisis Resolution and Bank Liquidity

w15552 Murillo Campello
John Graham
Campbell R. Harvey

The Real Effects of Financial Constraints: Evidence from a Financial Crisis

w15551 Malcolm Baker
Xin Pan
Jeffrey Wurgler

A Reference Point Theory of Mergers and Acquisitions

w15545 Alex Edmans
Xavier Gabaix

Tractability in Incentive Contracting

w15542 Arvind Krishnamurthy
How Debt Markets have Malfunctioned in the Crisis

w15538 Marcin Kacperczyk
Philipp Schnabl

When Safe Proved Risky: Commercial Paper During the Financial Crisis of 2007-2009

w15537 Lucian A. Bebchuk
Michael S. Weisbach

The State of Corporate Governance Research

w15515 Christian Laux
Christian Leuz

Did Fair-Value Accounting Contribute to the Financial Crisis?

w15504 Ravi Bansal
Dana Kiku
Amir Yaron

An Empirical Evaluation of the Long-Run Risks Model for Asset Prices

w15482 Zhiguo He
Wei Xiong

Dynamic Debt Runs

w15479 Ricardo J. Caballero
Alp Simsek

Fire Sales in a Model of Complexity

w15458 Pietro Veronesi
Luigi Zingales

Paulson's Gift

w15449 Martijn Cremers
Roberta Romano

Institutional Investors and Proxy Voting on Compensation Plans: The Impact of the 2003 Mutual Fund Voting Disclosure Regulation

w15448 Laura Alfaro
Anusha Chari

India Transformed? Insights from the Firm Level 1988-2005

w15447 Santiago Carbo-Valverde
Edward J. Kane
Francisco Rodriguez-Fernandez

Evidence of Regulatory Arbitrage in Cross-Border Mergers of Banks in the EU

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

w15325 Bronwyn H. Hall
Josh Lerner

The Financing of R&D and Innovation

w15324 Alex Edmans
Xavier Gabaix
Tomasz Sadzik
Yuliy Sannikov

Dynamic Incentive Accounts

w15319 Diego A. Comin
Bart Hobijn

The CHAT Dataset

w15304 Sharon Belenzon
Tomer Berkovitz
Patrick Bolton

Intracompany Governance and Innovation

w15283 Atif R. Mian
Amir Sufi

House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis

w15273 Gary B. Gorton
Andrew Metrick

Haircuts

w15248 Michael Faulkender
Mitchell Petersen

Investment and Capital Constraints: Repatriations Under the American Jobs Creation Act

w15242 Rajkamal Iyer
Asim Ijaz Khwaja
Erzo F.P. Luttmer
Kelly Shue

Screening Peers Softly: Inferring the Quality of Small Borrowers

w15223 Gary B. Gorton
Andrew Metrick

Securitized Banking and the Run on Repo

w15212 Rüdiger Fahlenbrach
René M. Stulz

Bank CEO Incentives and the Credit Crisis

w15207 Hui Tong
Shang-Jin Wei

The Composition Matters: Capital Inflows and Liquidity Crunch during a Global Economic Crisis

w15197 Douglas W. Diamond
Raghuram G. Rajan

Illiquidity and Interest Rate Policy

w15192 Gian Luca Clementi
Thomas F. Cooley
Sonia Di Giannatale

A Theory of Firm Decline

w15184 Stefano DellaVigna
Joshua M. Pollet

Capital Budgeting vs. Market Timing: An Evaluation Using Demographics

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

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

w15175 Bo Becker
Zoran Ivković
Scott Weisbenner

Local Dividend Clienteles

w15145 Luigi Guiso
Paola Sapienza
Luigi Zingales

Moral and Social Constraints to Strategic Default on Mortgages

w15143 Cindy R. Alexander
Mark A. Chen
Duane J. Seppi
Chester S. Spatt

The Role of Advisory Services in Proxy Voting

w15139 Bruce Ian Carlin
Simon Gervais
Gustavo Manso

When Does Libertarian Paternalism Work?

w15132 Isil Erel
Rose C. Liao
Michael S. Weisbach

World Markets for Mergers and Acquisitions

w15102 Henry Chen
Paul Gompers
Anna Kovner
Josh Lerner

Buy Local? The Geography of Successful and Unsuccessful Venture Capital Expansion

w15084 Nicola Gennaioli
Andrei Shleifer

What Comes to Mind

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

w15058 Stavros Panageas
Bailouts, the Incentive to Manage Risk, and Financial Crises

w15051 Randall Morck
Generalized Agency Problems

w15045 Efraim Benmelech
Jennifer Dlugosz

The Credit Rating Crisis

w15044 Francois Gourio
Jianjun Miao

Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform

w15042 Randall Morck
Bernard Yeung

Never Waste a Good Crisis: An Historical Perspective on Comparative Corporate Governance

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

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

w14997 Ricardo J. Caballero
Alp Simsek

Complexity and Financial Panics

w14990 Heitor Almeida
Murillo Campello
Bruno Laranjeira
Scott Weisbenner

Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis

w14983 Heitor Almeida
Sang Yong Park
Marti Subrahmanyam
Daniel Wolfenzon

The Structure and Formation of Business Groups: Evidence from Korean Chaebols

w14972 Bruce I. Carlin
Simon Gervais

Legal Protection in Retail Financial Markets

w14971 Roger K. Loh
René M. Stulz

When are Analyst Recommendation Changes Influential?

w14961 Juan Carlos Gozzi
Ross Levine
Sergio L. Schmukler

Patterns of International Capital Raisings

w14955 Bruce Ian Carlin
David T. Robinson

Fear and Loathing in Las Vegas: Evidence from Blackjack Tables

w14954 Bruce Ian Carlin
Gustavo Manso

Obfuscation, Learning, and the Evolution of Investor Sophistication

w14952 Isil Erel
Brandon Julio
Woojin Kim
Michael Weisbach

Market Conditions and the Structure of Securities

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

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

w14897 Christian Leuz
Catherine Schrand

Disclosure and the Cost of Capital: Evidence from Firms’ Responses to the Enron Shock

w14892 Eric Hilt
Wall Street's First Corporate Governance Crisis: The Panic of 1826

w14890 Darren J. Kisgen
Philip E. Strahan

Do Regulations Based on Credit Ratings Affect a Firm's Cost of Capital?

w14881 Richard A. Lambert
Christian Leuz
Robert E. Verrecchia

Information Asymmetry, Information Precision, and the Cost of Capital

w14878 Efraim Benmelech
Jennifer Dlugosz

The Alchemy of CDO Credit Ratings

w14877 Xavier Giroud
Holger M. Mueller

Does Corporate Governance Matter in Competitive Industries?

w14867 Patrick Bolton
Tano Santos
Jose A. Scheinkman

Outside and Inside Liquidity

w14861 Shai Bernstein
Josh Lerner
Antoinette Schoar

The Investment Strategies of Sovereign Wealth Funds

w14858 Randall Morck
The Riddle of the Great Pyramids

w14848 Hui Chen
Jianjun Miao
Neng Wang

Entrepreneurial Finance and Non-diversifiable Risk

w14845 Patrick Bolton
Hui Chen
Neng Wang

A Unified Theory of Tobin's q, Corporate Investment, Financing, and Risk Management

w14815 Ravi Bansal
Ivan Shaliastovich

Confidence Risk and Asset Prices

w14814 Ravi Bansal
Ivan Shaliastovich

Learning and Asset-Price Jumps

w14813 Ulrike Malmendier
Stefan Nagel

Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking?

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

w14739 Douglas W. Diamond
Raghuram Rajan

The Credit Crisis: Conjectures about Causes and Remedies

w14735 Reint Gropp
Anil Kashyap

A New Metric for Banking Integration in Europe

w14733 Jung-Wook Kim
Jason Lee
Randall Morck

Characteristics of Observed Limit Order Demand and Supply Schedules for Individual Stocks

w14727 Markus K. Brunnermeier
Motohiro Yogo

A Note on Liquidity Risk Management

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?

w14712 Patrick Bolton
Xavier Freixas
Joel Shapiro

The Credit Ratings Game

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

w14654 Patrick Bolton
Antoine Faure-Grimaud

Satisficing Contracts

w14650 Joseph P.H. Fan
Jun Huang
Randall Morck
Bernard Yeung

Vertical Integration, Institutional Determinants and Impact: Evidence from China

w14649 Gary B. Gorton
Information, Liquidity, and the (Ongoing) Panic of 2007

w14648 Philippe Aghion
Yann Algan
Pierre Cahuc
Andrei Shleifer

Regulation and Distrust

w14646 Lubos Pastor
Pietro Veronesi

Learning in Financial Markets

w14644 Thomas Philippon
Ariell Reshef

Wages and Human Capital in the U.S. Financial Industry: 1909-2006


2008
w14623 Josh Lerner
Morten Sørensen
Per Strömberg

Private Equity and Long-Run Investment: The Case of Innovation

w14613 Oliver Hart
Bengt Holmstrom

A Theory of Firm Scope

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

w14574 Zhiguo He
Wei Xiong

Delegated Asset Management, Investment Mandates, and Capital Immobility

w14557 C. Fritz Foley
Robin Greenwood

The Evolution of Corporate Ownership After IPO: The Impact of Investor Protection

w14517 Zhiguo He
Arvind Krishnamurthy

Intermediary Asset Pricing

w14501 Ernst Fehr
Oliver D. Hart
Christian Zehnder

Contracts as Reference Points - Experimental Evidence

w14488 Joshua D. Rauh
Amir Sufi

Capital Structure and Debt Structure

w14486 Renée Adams
Benjamin E. Hermalin
Michael S. Weisbach

The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey

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

w14358 Gary B. Gorton
The Panic of 2007

w14347 Raghuram G. Rajan
Rodney Ramcharan

Landed Interests and Financial Underdevelopment in the United States

w14343 Robert Novy-Marx
Joshua D. Rauh

The Intergenerational Transfer of Public Pension Promises

w14342 Dongmei Li
Lu Zhang

Costly External Finance: Implications for Capital Markets Anomalies

w14341 Josh Lerner
Antoinette Schoar
Jialan Wang

Secrets of the Academy: The Drivers of University Endowment Success

w14339 Patrick Bolton
Markus K. Brunnermeier
Laura Veldkamp

Leadership, Coordination and Mission-Driven Management

w14331 Phillip Leslie
Paul Oyer

Managerial Incentives and Value Creation: Evidence from Private Equity

w14324 Josh Lerner
The Litigation of Financial Innovations

w14291 Vojislav Maksimovic
Gordon Phillips
N. R. Prabhala

Post-Merger Restructuring and the Boundaries of the Firm

w14290 Gerard Hoberg
Gordon M. Phillips

Real and Financial Industry Booms and Busts

w14289 Gerard Hoberg
Gordon M. Phillips

Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis

w14280 Rajkamal Iyer
Manju Puri

Understanding Bank Runs: The Importance of Depositor-Bank Relationships and Networks

w14273 Ross Levine
Alexey Levkov
Yona Rubinstein

Racial Discrimination and Competition

w14250 Manju Puri
Rebecca Zarutskie

On the Lifecycle Dynamics of Venture-Capital- and Non-Venture-Capital-Financed Firms

w14245 Craig Doidge
G. Andrew Karolyi
René M. Stulz

Why Do Foreign Firms Leave U.S. Equity Markets?

w14232 Lauren Cohen
Andrea Frazzini
Christopher Malloy

Hiring Cheerleaders: Board Appointments of "Independent" Directors

w14218 René M. Stulz
Securities Laws, Disclosure, and National Capital Markets in the Age of Financial Globalization

w14207 Steven N. Kaplan
Per Strömberg

Leveraged Buyouts and Private Equity

w14205 Hui Tong
Shang-Jin Wei

Real Effects of the Subprime Mortgage Crisis: Is it a Demand or a Finance Shock?

w14202 Alberto F. Alesina
Francesca Lotti
Paolo Emilio Mistrulli

Do Women Pay More for Credit? Evidence from Italy

w14195 Steven N. Kaplan
Mark M. Klebanov
Morten Sorensen

Which CEO Characteristics and Abilities Matter?

w14189 Toby Stuart
Soojin Yim

Board Interlocks and the Propensity to be Targeted in Private Equity Transactions

w14187 Shourun Guo
Edie S. Hotchkiss
Weihong Song

Do Buyouts (Still) Create Value?

w14180 Alexander Ljungqvist
Matthew Richardson
Daniel Wolfenzon

The Investment Behavior of Buyout Funds: Theory and Evidence

w14145 Carola Frydman
Raven E. Saks

Executive Compensation: A New View from a Long-Term Perspective, 1936-2005

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

w14140 Ulrike Malmendier
Geoffrey Tate

Superstar CEOs

w14113 Luc Laeven
Ross Levine

Bank Governance, Regulation, and Risk Taking

w14087 Robin Greenwood
Samuel Hanson
Jeremy C. Stein

A Gap-Filling Theory of Corporate Debt Maturity Choice

w14085 Sharon Katz
Earnings Quality and Ownership Structure: The Role of Private Equity Sponsors

w14083 Christopher J. Mayer
Karen Pence

Subprime Mortgages: What, Where, and to Whom?

w14068 Nicole M. Boyson
Christof W. Stahel
Rene M. Stulz

Hedge Fund Contagion and Liquidity

w14059 Efraim Benmelech
Nittai K. Bergman

Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines

w14051 Eswar S. Prasad
Raghuram Rajan

A Pragmatic Approach to Capital Account Liberalization

w14029 James A. Brander
Edward Egan
Thomas F. Hellmann

Government Sponsored versus Private Venture Capital: Canadian Evidence

w14027 Kathy Fogel
Randall Morck
Bernard Yeung

Big Business Stability and Social Welfare

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

w13914 Susan Perkins
Randall Morck
Bernard Yeung

Innocents Abroad: The Hazards of International Joint Ventures with Pyramidal Group Firms

w13908 Kristin J. Forbes
Why do Foreigners Invest in the United States?

w13880 Peter Blair Henry
Diego Sasson

Capital Account Liberalization, Real Wages, and Productivity

w13874 Efraim Benmelech
Nittai K. Bergman

Collateral Pricing

w13802 Evan Gatev
Philip Strahan

Liquidity Risk and Syndicate Structure

w13798 Philip Strahan
Liquidity Production in 21st Century Banking

w13786 Joseph Chen
Samuel Hanson
Harrison Hong
Jeremy C. Stein

Do Hedge Funds Profit From Mutual-Fund Distress?

w13774 Charles Calomiris
Raymond Fisman
Yongxiang Wang

Profiting from Government Stakes in a Command Economy: Evidence from Chinese Asset Sales

w13762 Malcolm Baker
Robin Greenwood
Jeffrey Wurgler

Catering Through Nominal Share Prices

w13756 Simeon Djankov
Tim Ganser
Caralee McLiesh
Rita Ramalho
Andrei Shleifer

The Effect of Corporate Taxes on Investment and Entrepreneurship

w13738 Marianne Bertrand
Simon Johnson
Krislert Samphantharak
Antoinette Schoar

Mixing Family With Business: A Study of Thai Business Groups and the Families Behind Them

w13732 Efraim Benmelech
Eugene Kandel
Pietro Veronesi

Stock-Based Compensation and CEO (Dis)Incentives

w13721 Woochan Kim
Taeyoon Sung
Shang-Jin Wei

How Does Corporate Governance Risk at Home Affect Investment Choices Abroad?


2007
w13711 Itzhak Ben-David
John R. Graham
Campbell R. Harvey

Managerial Overconfidence and Corporate Policies

w13709 John R. Graham
Lillian F. Mills

Using Tax Return Data to Simulate Corporate Marginal Tax Rates

w13708 John R. Graham
Si Li
Jiaping Qiu

Corporate Misreporting and Bank Loan Contracting

w13706 Brandon Julio
Woojin Kim
Michael Weisbach

What Determines the Structure of Corporate Debt Issues?

w13702 Lucian A. Bebchuk
Zvika Neeman

Investor Protection and Interest Group Politics

w13701 Lucian A. Bebchuk
Martijn Cremers
Urs Peyer

CEO Centrality

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

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?

w13597 Charles W. Calomiris
Bank Failures in Theory and History: The Great Depression and Other "Contagious" Events

w13593 Edward J. Kane
Incentive Conflict In Central-Bank Responses to Sectoral Turmoil in Financial Hub Countries

w13584 Thomas Philippon
Yuliy Sannikov

Real Options in a Dynamic Agency Model, with Applications to Financial Development, IPOs, and Business Risk

w13570 Ulrike Malmendier
Geoffrey Tate
Jonathan Yan

Corporate Financial Policies With Overconfident Managers

w13560 Thomas Philippon
Financiers vs. Engineers: Should the Financial Sector be Taxed or Subsidized?

w13540 Oliver Hart
Hold-up, Asset Ownership, and Reference Points

w13538 Raj Chetty
Emmanuel Saez

An Agency Theory of Dividend Taxation

w13504 Harrison Hong
Jose A. Scheinkman
Wei Xiong

Advisors and Asset Prices: A Model of the Origins of Bubbles

w13481 Oliver D. Hart
Reference Points and the Theory of the Firm

w13480 Edward P. Lazear
Paul Oyer

Personnel Economics

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

w13435 Joseph P.H. Fan
Randall Morck
Lixin Colin Xu
Bernard Yeung

Institutions and Foreign Investment: China versus the World

w13427 Siddhartha G. Dastidar
Raymond Fisman
Tarun Khanna

Testing Limits to Policy Reversal: Evidence from Indian Privatizations

w13405 Thomas Philippon
Why Has the U.S. Financial Sector Grown so Much? The Role of Corporate Finance.

w13387 Paola Sapienza
Anna Toldra
Luigi Zingales

Understanding Trust

w13385 Nicholas Bloom
The Impact of Uncertainty Shocks

w13372 Alex Edmans
Xavier Gabaix
Augustin Landier

A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

w13370 Jeremy C. Stein
Conversations Among Competitors

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

Mortgage Timing

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

w13285 Harry DeAngelo
Linda DeAngelo
René M. Stulz

Fundamentals, Market Timing, and Seasoned Equity Offerings

w13283 Mihir A. Desai
Li Jin

Institutional Tax Clienteles and Payout Policy

w13282 Long Chen
Lu Zhang

Neoclassical Factors

w13281 Mihir A. Desai
Dhammika Dharmapala

Taxes and Portfolio Choice: Evidence from JGTRRA's Treatment of International Dividends

w13274 Jarrad Harford
Dirk Jenter
Kai Li

Conflicts of Interests Among Shareholders: The Case of Corporate Acquisitions

w13270 Steven N. Kaplan
Joshua Rauh

Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?

w13268 Jeremy I. Bulow
Paul D. Klemperer

When are Auctions Best?

w13265 Michelle J. White
Bankruptcy Reform and Credit Cards

w13251 Rui Albuquerque
Neng Wang

Agency Conflicts, Investment, and Asset Pricing

w13250 Jianjun Miao
Neng Wang

Investment, Consumption, and Hedging under Incomplete Markets

w13241 Pol Antràs
Ricardo J. Caballero

Trade and Capital Flows: A Financial Frictions Perspective

w13240 Joshua Rauh
Risk Shifting versus Risk Management: Investment Policy in Corporate Pension Plans

w13202 Rüdiger Fahlenbrach
René M. Stulz

Managerial Ownership Dynamics and Firm Value

w13189 Malcolm Baker
Jeffrey Wurgler

Investor Sentiment in the Stock Market

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

w13132 Mihir A. Desai
Dhammika Dharmapala

Taxes, Institutions and Foreign Diversification Opportunities

w13124 Ulrike Malmendier
Devin Shanthikumar

Do Security Analysts Speak in Two Tongues?

w13120 Simon Johnson
Jonathan D. Ostry
Arvind Subramanian

The Prospects for Sustained Growth in Africa: Benchmarking the Constraints

w13109 Timothy Guinnane
Ron Harris
Naomi R. Lamoreaux
Jean-Laurent Rosenthal

Putting the Corporation in its Place

w13104 Jeremy Greenwood
Juan M. Sanchez
Cheng Wang

Financing Development: The Role of Information Costs

w13103 David Dollar
Shang-Jin Wei

Das (Wasted) Kapital: Firm Ownership and Investment Efficiency in China

w13093 Eric Hilt
When did Ownership Separate from Control? Corporate Governance in the Early Nineteenth Century

w13092 Guido Lorenzoni
Karl Walentin

Financial Frictions, Investment and Tobin's q

w13081 Veronica Cacdac Warnock
Francis E. Warnock

Markets and Housing Finance

w13079 Craig Doidge
G. Andrew Karolyi
Rene M. Stulz

Has New York Become Less Competitive in Global Markets? Evaluating Foreign Listing Choices Over Time

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

w13014 Jonathan B. Berk
Richard Stanton
Josef Zechner

Human Capital, Bankruptcy and Capital Structure

w13011 Hyunbae Chun
Jung-Wook Kim
Randall Morck
Bernard Yeung

Creative Destruction and Firm-Specific Performance Heterogeneity

w13005 Hirofumi Uchida
Gregory F.Udell
Wako Watanabe

Bank Size and Lending Relationships in Japan

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

w12923 James Poterba
Nirupama Rao
Jeri Seidman

Deferred Tax Positions and Incentives for Corporate Behavior Around Corporate Tax Changes

w12918 Charles W. Calomiris
Doron Nissim

Activity-Based Valuation of Bank Holding Companies

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

w12874 Boyan Jovanovic
Balàzs Szentes

On the Return to Venture Capital

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

w12862 Asli Demirguc-Kunt
Edward J. Kane
Luc Laeven

Determinants of Deposit-Insurance Adoption and Design

w12855 Pol Antràs
Mihir A. Desai
C. Fritz Foley

Multinational Firms, FDI Flows and Imperfect Capital Markets

w12851 Efraim Benmelech
Tobias J. Moskowitz

The Political Economy of Financial Regulation: Evidence from U.S. State Usury Laws in the 19th Century

w12847 Borja Larrain
Motohiro Yogo

Does Firm Value Move Too Much to be Justified by Subsequent Changes in Cash Flow?

w12826 Ulf Axelson
Per Stromberg
Michael S. Weisbach

Why are Buyouts Levered: The Financial Structure of Private Equity Funds

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


2006
w12811 Lucian A. Bebchuk
Yaniv Grinstein
Urs Peyer

Lucky Directors

w12807 Simeon Djankov
Oliver Hart
Caralee McLiesh
Andrei Shleifer

Debt Enforcement Around the World

w12804 Daron Acemoglu
Kostas Bimpikis
Asuman Ozdaglar

Price and Capacity Competition

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"

w12792 Lubos Pastor
Lucian Taylor
Pietro Veronesi

Entrepreneurial Learning, the IPO Decision, and the Post-IPO Drop in Firm Profitability

w12776 A. Mitchell Polinsky
Steven Shavell

Mandatory Versus Voluntary Disclosure of Product Risks

w12773 Heitor Almeida
Murillo Campello
Michael S. Weisbach

Corporate Financial and Investment Policies when Future Financing is not Frictionless

w12771 Lucian A. Bebchuk
Yaniv Grinstein
Urs Peyer

Lucky CEOs

w12765 Enrichetta Ravina
Paola Sapienza

What Do Independent Directors Know? Evidence from Their Trading

w12742 Darius Lakdawalla
George Zanjani

Catastrophe Bonds, Reinsurance, and the Optimal Collateralization of Risk-Transfer

w12739 Holger M. Mueller
Thomas Philippon

Family Firms, Paternalism, and Labor Relations

w12724 Dirk Jenter
Katharina Lewellen
Jerold B. Warner

Security Issue Timing: What Do Managers Know, and When Do They Know It?

w12720 Sendhil Mullainathan
Joshua Schwartzstein
Andrei Shleifer

Coarse Thinking and Persuasion

w12719 Gary Richardson
A Comment Concerning Deposit Insurance and Moral Hazard

w12706 Oliver Hart
John Moore

Contracts as Reference Points

w12705 Edward J. Kane
Basel II: A Contracting Perspective

w12698 Peter Blair Henry
Capital Account Liberalization: Theory, Evidence, and Speculation

w12695 Hamid Mehran
Rene M. Stulz

The Economics of Conflicts of Interest in Financial Institutions

w12679 Nicola Gennaioli
Andrei Shleifer

Judicial Fact Discretion

w12675 Luc Laeven
Ross Levine

Complex Ownership Structures and Corporate Valuations

w12656 Timothy J. Kehoe
David K. Levine

Bankruptcy and Collateral in Debt Constrained Markets

w12649 C. Fritz Foley
Jay C. Hartzell
Sheridan Titman
Garry Twite

Why do firms hold so much cash? A tax-based explanation

w12645 Keith J. Crocker
Joel Slemrod

The Economics of Earnings Manipulation and Managerial Compensation

w12644 Charles Calomiris
Devaluation with Contract Redenomination in Argentina

w12626 Jerry Cao
Josh Lerner

The Performance of Reverse Leveraged Buyouts

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

w12612 Atif Mian
Asim Ijaz Khwaja

Tracing the Impact of Bank Liquidity Shocks: Evidence from an Emerging Market

w12597 James Poterba
Joshua Rauh
Steven Venti
David Wise

Defined Contribution Plans, Defined Benefit Plans, and the Accumulation of Retirement Wealth

w12592 Paul Gompers
Anna Kovner
Josh Lerner
David Scharfstein

Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs

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

w12465 Steven N. Kaplan
Bernadette Minton

How has CEO Turnover Changed? Increasingly Performance Sensitive Boards and Increasingly Uneasy CEOs

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

w12438 Leemore Dafny
David Dranove

Regulatory Exploitation and the Market for Corporate Controls

w12394 Kathy Fogel
Randall Morck
Bernard Yeung

Big Business Stability and Economic Growth: Is What's Good for General Motors Good for America?

w12389 Bong-Chan Kho
René M. Stulz
Francis E. Warnock

Financial Globalization, Governance, and the Evolution of the Home Bias

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

w12297 Vojislav Maksimovic
Gordon Phillips

The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?

w12292 Roger Gordon
Martin Dietz

Dividends and Taxes

w12288 Malcolm Baker
Stefan Nagel
Jeffrey Wurgler

The Effect of Dividends on Consumption

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?

w12234 Evan Gatev
Til Schuermann
Philip E. Strahan

Managing Bank Liquidity Risk: How Deposit-Loan Synergies Vary with Market Conditions

w12222 Christian Leuz
Karl V. Lins
Francis E. Warnock

Do Foreigners Invest Less in Poorly Governed Firms?

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

w12170 Edward J. Kane
Inadequacy of Nation-Based and VaR-Based Safety Nets in the European Union

w12151 Ravi Jagannathan
Ann E. Sherman

Why Do IPO Auctions Fail?

w12146 Clemens Sialm
Investment Taxes and Equity Returns

w12136 Ricardo J. Caballero
Arvind Krishnamurthy

Flight to Quality and Collective Risk Management

w12129 Ricardo J. Caballero
Takeo Hoshi
Anil K. Kashyap

Zombie Lending and Depressed Restructuring in Japan

w12107 Patrick Bolton
Jose Scheinkman
Wei Xiong

Pay for Short-Term Performance: Executive Compensation in Speculative Markets

w12104 Chang-Tai Hsieh
Jonathan A. Parker

Taxes and Growth in a Financially Underdeveloped Country: Evidence from the Chilean Investment Boom

w12093 Raghuram G. Rajan
Competitive Rent Preservation, Reform Paralysis, and the Persistence of Underdevelopment

w12090 Nicole M. Boyson
Christof W. Stahel
Rene M. Stulz

Is There Hedge Fund Contagion?

w12087 Heitor Almeida
Murillo Campello

Financial Constraints, Asset Tangibility, and Corporate Investment

w12084 Gary Gorton
Ping He

Agency-Based Asset Pricing

w12075 Gary Gorton
Ping He
Lixin Huang

Asset Prices When Agents are Marked-to-Market

w12068 Dirk Jenter
Fadi Kanaan

CEO Turnover and Relative Performance Evaluation

w12059 Paul Oyer
The Making of an Investment Banker: Macroeconomic Shocks, Career Choice, and Lifetime Income

w12050 Benjamin E. Hermalin
Michael S. Weisbach

A Framework for Assessing Corporate Governance Reform

w12000 Murray Carlson
Zeigham Khokher
Sheridan Titman

Equilibrium Exhaustible Resource Price Dynamics

w11999 Paola Sapienza
Luigi Zingales
Luigi Guiso

Does Culture Affect Economic Outcomes?

w11989 Justin Wolfers
Diagnosing Discrimination: Stock Returns and CEO Gender

w11984 Leora Friedberg
Anthony Webb

Life is Cheap: Using Mortality Bonds to Hedge Aggregate Mortality Risk

w11983 Elena Loutskina
Philip E. Strahan

Securitization and the Declining Impact of Bank Finance on Loan Supply: Evidence from Mortgage Acceptance Rates

w11962 Darrell Duffie
Leandro Siata
Ke Wang

Multi-Period Corporate Default Prediction With Stochastic Covariates

w11961 Sanjiv Das
Darrell Duffie
Nikunj Kapadia
Leandro Saita

Common Failings: How Corporate Defaults are Correlated

w11950 Kevin F. Hallock
Craig Olson

The Value of Stock Options to Non-Executive Employees

w11944 Josh Lerner
Julie Wulf

Innovation and Incentives: Evidence from Corporate R&D

w11914 A. Burak Güner
Ulrike Malmendier
Geoffrey Tate

Financial Expertise of Directors

w11912 Rene M. Stulz
Financial Globalization, Corporate Governance, and Eastern Europe


2005
w11907 Lucian A. Bebchuk
Robert J. Jackson
Jr.

Executive Pensions

w11894 Ross Levine
Sergio Schmukler

Internationalization and Stock Market Liquidity

w11892 Marianne Bertrand
Dean Karlin
Sendhil Mullainathan
Eldar Shafir
Jonathan Zinman

What's Psychology Worth? A Field Experiment in the Consumer Credit Market

w11886 Lucian Bebchuk
Yaniv Grinstein

Firm Expansion and CEO Pay

w11883 Simeon Djankov
Rafael LaPorta
Florencio Lopez-de-Silanes
Andrei Shleifer

The Law and Economics of Self-Dealing

w11882 Owen A. Lamont
Jeremy C. Stein

Investor Sentiment and Corporate Finance: Micro and Macro

w11867 Patrick Bolton
Antoine Faure-Grimaud

Thinking Ahead: The Decision Problem

w11865 Edward J. Kane
Confronting Divergent Interests in Cross-Country Regulatory Arrangements

w11860 Edward J. Kane
Can the European Community Afford to Neglect the Need for More Accountable Safety-Net Management?

w11838 Sendhil Mullainathan
Andrei Shleifer

Persuasion in Finance

w11834 Ricardo Caballero
Arvind Krishnamurthy

Financial System Risk and Flight to Quality

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

w11526 Andrea Frazzini
Owen A. Lamont

Dumb Money: Mutual Fund Flows and the Cross-Section of Stock Returns

w11505 Jean Helwege
Christo Pirinsky
René M. Stulz

Why Do Firms Become Widely Held? An Analysis of the ynamics of Corporate Ownership

w11500 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Bank Concentration and Fragility: Impact and Mechanics

w11499 Luc Laeven
Ross Levine

Is There a Diversification Discount in Financial Conglomerates?

w11493 M. Hashem Pesaran
Til Schuermann
Björn-Jakob Treutler

Global Business Cycles and Credit Risk

w11488 Harrison Hong
Jeffrey D. Kubik
Jeremy C. Stein

The Only Game in Town: Stock-Price Consequences of Local Bias

w11469 Mihir A. Desai
Dhammika Dharmapala
Winnie Fung

Taxation and the Evolution of Aggregate Corporate Ownership Concentration

w11443 Lucian Bebchuk
Yaniv Grinstein

The Growth of Executive Pay

w11442 Mark Carey
Rene M. Stulz

The Risks of Financial Institutions

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

w11364 Gary Gorton
Matthias Kahl
Richard Rosen

Eat or Be Eaten: A Theory of Mergers and Merger Waves

w11363 Gary Gorton
Ping He

Bank Credit Cycles

w11361 Manju Puri
David Robinson

Optimism and Economic Choice

w11350 Antonio Geldson de Carvalho
Charles W. Calomiris
Joao Amaro de Matos

Venture Capital as Human Resource Management

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

w11294 Armando Gomes
Gordon Phillips

Why Do Public Firms Issue Private and Public Securities?

w11292 Josh Lerner
Ulrike Malmendier

Contractibility and the Design of Research Agreements

w11280 Mitchell A. Petersen
Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches

w11277 David N. Figlio
Boys Named Sue: Disruptive Children and their Peers

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

w11254 Olubunmi Faleye
Vikas Mehrotra
Randall Morck

When Labor Has a Voice in Corporate Governance

w11241 Mihir A. Desai
Dhammika Dharmapala

Corporate Tax Avoidance and Firm Value

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

w11140 Mihir A. Desai
Robert J. Yetman

Constraining Managers without Owners: Governance of the Not-for-Profit Enterprise

w11136 Josh Lerner
Antoinette Schoar
Wan Wong

Smart Institutions, Foolish Choices? The Limited Partner Performance Puzzle

w11126 Marianne Bertrand
Sendhil Mullainathan

Profitable Investments or Dissipated Cash? Evidence on the Investment-Cash Flow Relationship From Oil and Gas Lease Bidding

w11110 Oriol Carbonell-Nicolau
Diego Comin

Testing out Contractual Incompleteness: Evidence from Soccer

w11082 Bart Lambrecht
Stewart C. Myers

A Theory of Takeovers and Disinvestment

w11078 Simeon Djankov
Caralee McLiesh
Andrei Shleifer

Private Credit in 129 Countries

w11075 Mihir C. Desai
C. Fritz Foley
James R. Hines Jr.

Foreign Direct Investment and the Domestic Capital Stock

w11071 Patrick Bolton
Olivier Jeanne

Structuring and Restructuring Sovereign Debt: The Role of Seniority

w11070 Rene M. Stulz
The Limits of Financial Globalization

w11062 Randall K. Morck
Lloyd Steier

The Global History of Corporate Governance: An Introduction

w11053 Steven D. Levitt
Chad Syverson

Market Distortions when Agents are Better Informed: The Value of Information in Real Estate Transactions

w11052 Jun Qian
Philip E. Strahan

How Law and Institutions Shape Financial Contracts: The Case of Bank Loans

w11037 Philippe Jorion
Bank Trading Risk and Systemic Risk

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

w11005 Luigi Guiso
Paola Sapienza
Luigi Zingales

Cultural Biases in Economic Exchange

w11002 Jeffrey R. Brown
Nellie Liang
Scott Weisbenner

Executive Financial Incentives and Payout Policy: Firm Responses to the 2003 Dividend Tax Cut

w10999 Philippe Aghion
Jeremy C. Stein

Growth vs. Margins: Destabilizing Consequences of Giving the Stock Market What it Wants

w10998 Malcolm Baker
Joshua Coval
Jeremy C. Stein

Corporate Financing Decisions When Investors Take the Path of Least Resistance

w10997 Daron Acemoglu
Philippe Aghion
Rachel Griffith
Fabrizio Zilibotti

Vertical Integration and Technology: Theory and 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

w10979 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Finance, Inequality, and Poverty: Cross-Country Evidence

w10978 Mihir A. Desai
Alexander Dyck
Luigi Zingales

Theft and Taxes

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

w10929 Raymond Fisman
Virginia Sarria-Allende

Regulation of Entry and the Distortion of Industrial Organization

w10908 Stephen G. Cecchetti
Stefan Krause

Deposit Insurance and External Finance

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

w10832 Nicola Cetorelli
Philip E. Strahan

Finance as a Barrier to Entry: Bank Competition and Industry Structure in Local U.S. Markets

w10823 Malcolm P. Baker
Ryan Taliaferro
Jeffrey Wurgler

Pseudo Market Timing and Predictive Regressions

w10807 Ulrike Malmendier
Geoffrey Tate

CEO Overconfidence and Corporate Investment

w10806 Mihir A. Desai
C. Fritz Foley
James R. Hines

Economic Effects of Regional Tax Havens

w10794 Lily Qiu
Ivo Welch

Investor Sentiment Measures

w10785 Mihir A. Desai
C. Fritz Foley

The Comovement of Returns and Investment Within the Multinational Firm

w10773 Sara B. Moeller
Frederik P. Schlingemann
Rene M. Stulz

Do Acquirers With More Uncertain Growth Prospects Gain Less From Acquisitions?

w10770 Marcin Kacperczyk
Clemens Sialm
Lu Zheng

On the Industry Concentration of Actively Managed Equity Mutual Funds

w10766 Ross Levine
Finance and Growth: Theory and Evidence

w10743 Darrell Duffie
Ke Wang

Multi-Period Corporate Failure Prediction with Stochastic Covariates

w10742 Lucian Arye Bebchuk
Jesse M. Fried

Stealth Compensation Via Retirement Benefits

w10726 Rene M. Stulz
Craig Doidge
Andrew Karolyi

Why Do Countries Matter So Much for Corporate Governance?

w10719 John M. Griffin
Federico Nardari
Rene M. Stulz

Stock Market Trading and Market Conditions

w10716 Antoin E. Murphy
Corporate Ownership in France: The Importance of History

w10692 Randall Morck
Daniel Wolfenzon
Bernard Yeung

Corporate Governance, Economic Entrenchment and Growth

w10681 Eric M. Engen
R. Glenn Hubbard

Federal Government Debt and Interest Rates

w10671 Jennifer Dlugosz
Rudiger Fahlenbrach
Paul Gompers
Andrew Metrick

Large Blocks of Stock: Prevalence, Size, and Measurement

w10664 Josh Lerner
Jean Tirole

A Model of Forum Shopping, with Special Reference to Standard Setting Organizations

w10685 Malcolm Baker
Lubomir Litov
Jessica A. Wachter
Jeffrey Wurgler

Can Mutual Fund Managers Pick Stocks? Evidence from the Trades Prior to Earnings Announcements

w10659 Owen Lamont
Go Down Fighting: Short Sellers vs. Firms

w10644 Randall Morck
Behavioral Finance in Corporate Governance - Independent Directors, Non-Executive Chairs, and the Importance of the Devil’s Advocate

w10641 Peter Hogfeldt
The History and Politics of Corporate Ownership in Sweden

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

w10628 Julian Franks
Colin Mayer
Stefano Rossi

Spending Less Time with the Family: The Decline of Family Ownership in the UK

w10615 Peter M. DeMarzo
Yuliy Sannikov

A Continuous-Time Agency Model of Optimal Contracting and Capital Structure

w10613 Tarun Khann
Krishna Palepu

The Evolution of Concentrated Ownership in India Broad patterns and a History of the Indian Software Industry

w10599 Harry DeAngelo
Linda DeAngelo
Rene Stulz

Dividend Policy, Agency Costs, and Earned Equity

w10587 Lucian Bebchuk
Alma Cohen

The Costs of Entrenched Boards

w10576 Barry Eichengreen
Pipat Luengnaruemitchai

Why Doesn't Asia Have Bigger Bond Markets?

w10574 Rene M. Stulz
Should We Fear Derivatives?

w10572 Raj Chetty
Emmanuel Saez

Do Dividend Payments Respond to Taxes? Preliminary Evidence from the 2003 Dividend Tax Cut

w10571 Patrick Bolton
Xavier Freixas
Joel Shapiro

Conflicts of Interest, Information Provision, and Competition in Banking

w10567 Armando Gomes
Gary Gorton
Leonardo Madureira

SEC Regulation Fair Disclosure, Information, and the Cost of Capital

w10563 Christopher Polk
Paola Sapienza

The Real Effects of Investor Sentiment

w10550 John R. Graham
Campbell R. Harvey
Shiva Rajgopal

The Economic Implications of Corporate Financial Reporting

w10545 Mihir A. Desai
C. Fritz Foley
Kristin J. Forbes

Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Crises

w10543 Daniel Bergstresser
Mihir A. Desai
Joshua Rauh

Earnings Manipulation and Managerial Investment Decisions: Evidence from Sponsored Pension Plans

w10537 Simon Gilchrist
Charles P. Himmelberg
Gur Huberman

Do Stock Price Bubbles Influence Corporate Investment?

w10536 Patricia M. Danzon
Andrew Epstein
Sean Nicholson

Mergers and Acquisitions in the Pharmaceutical and Biotech Industries

w10535 Thomas Hellman
Laura Lindsey
Manju Puri

Building Relationships Early: Banks in Venture Capital

w10532 Ricardo J. Caballero
Arvind Krishnamurthy

Fiscal Policy and Financial Depth

w10526 Ayla Kayhan
Sheridan Titman

Firms' Histories and Their Capital Structures

w10494 Raghuram Rajan
Julie Wulf

Are Perks Purely Managerial Excess?

w10491 Steven Drucker
Manju Puri

The Tying of Lending and Equity Underwriting

w10486 James J. Choi
David Laibson
Brigitte C. Madrian

Plan Design and 401(k) Savings Outcomes

w10483 Amit Goval
Ivo Welch

A Comprehensive Look at the Empirical Performance of Equity Premium Prediction

w10471 Mihir A. Desai
Dhammika Dharmapala

Corporate Tax Avoidance and High Powered Incentives

w10455 Murat Iyigun
Dani Rodrik

On the Efficacy of Reforms: Policy Tinkering, Institutional Change, and Entrepreneurship

w10453 Li Jin
Stewart C. Myers

R-Squared Around the World: New Theory and New Tests

w10449 Malcolm Baker
Jeffrey Wurgler

Investor Sentiment and the Cross-Section of Stock Returns

w10434 Paul Asquith
Parag A. Pathak
Jay R. Ritter

Short Interest and Stock Returns

w10422 Francis A. Longstaff
Optimal Recursive Refinancing and the Valuation of Mortgage-Backed Securities

w10421 Gary V. Engelhardt
Brigitte C. Madrian

Employee Stock Purchase Plans

w10419 Jeffrey R. Brown
Nellie Liang
Scott Weisbenner

401(k) Matching Contributions in Company Stock: Costs and Benefits for Firms and Workers

w10410 Jung-Wook Kim
Jason Lee
Randall K. Morck

Heterogeneous Investors and their Changing Demand and Supply Schedules for Individual Common Stocks

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

w10348 Josh Lerner
Antoinette Schoar

Transaction Structures in the Developing World

w10337 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Capital Controls, Liberalizations, and Foreign Direct Investement

w10321 James Poterba
Taxation and Corporate Payout Policy

w10318 Anusha Chari
Peter Blair Henry

Is the Invisible Hand Discerning or Indiscriminate? Investment and Stock Prices in the Aftermath of Capital Account Liberalizations

w10298 Boyan Jovanovic
Peter L. Rousseau

Interest Rates and Initial Public Offerings

w10291 Alan J. Auerbach
How Much Equity Does the Government Hold?

w10269 Andrei Shleifer
Does Competition Destroy Ethical Behavior?

w10259 Jeremy C. Stein
Why Are Most Funds Open-End? Competition and the Limits of Arbitrage

w10240 Paul A. Gompers
Joy Ishii
Andrew Metrick

Incentives vs. Control: An Analysis of U.S. Dual-Class Companies

w10236 Raymond Fisman
Inessa Love

Financial Development and Growth in the Short and Long Run

w10225 Brian J. Henderson
Narasimhan Jegadeesh
Michael S. Weisbach

World Markets for Raising New Capital

w10224 Evangelos Benos
Michael S. Weisbach

Private Benefits and Cross-Listings in the United States

w10223 Josh Lerner
The New New Financial Thing: The Sources of Innovation Before and After State Street

w10222 Paul Oyer
Scott Schaefer

Why Do Some Firms Give Stock Options to All Employees?: An Empirical Examination of Alternative Theories

w10221 Paul Oyer
Scott Schaefer

Compensating Employees Below the Executive Ranks: A Comparison of Options, Restricted Stock, and Cash

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

w10188 Lee Pinkowitz
Rene M. Stulz
Rohan Williamson

Do Firms in Countries with Poor Protection of Investor Rights Hold More Cash?

w10184 Kenneth A. Froot
Risk Management, Capital Budgeting and Capital Structure Policy for Insurers and Reinsurers

w10165 Mihir Desai
Paul Gompers
Josh Lerner

Institutions, Capital Constraints and Entrepreneurial Firm Dynamics: Evidence from Europe

w10158 Gerard Caprio
Luc Laeven
Ross Levine

Governance and Bank Valuation

w10157 Kenneth A. Froot
Paul G. J. O'Connell

The Risk Tolerance of International Investors

w10153 Mihir Desai
William M. Gentry

The Character and Determinants of Corporate Capital Gains

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

w10106 Andres Almazan
Adolfo de Motta
Sheridan Titman

Firm Location and the Creation and Utilization of Human Capital

w10101 Andres Almazan
Javier Suarez
Sheridan Titman

Stakeholder, Transparency and Capital Structure

w10097 Steven N. Kaplan
Frederic Martel
Per Stromberg

How Do Legal Differences and Learning Affect Financial Contracts?

w10071 Douglas W. Diamond
Raghuram G. Rajan

Liquidity Shortages and Banking Crises

w10070 Douglas W. Diamond
Raghuram G. Rajan

Money in a Theory of Banking

w9995 Malcolm Baker
Jeffrey Wurgler

Appearing and Disappearing Dividends: The Link to Catering Incentives

w9956 Evan Gatev
Philip E. Strahan

Banks' Advantage in Hedging Liquidity Risk: Theory and Evidence from the Commercial Paper Market

w9951 Sheridan Titman
K.C. John Wei
Feixue Xie

Capital Investments and Stock Returns

w9949 Eric Friedman
Simon Johnson
Todd Mitton

Propping and Tunneling

w9934 Daron Acemoglu
Simon Johnson

Unbundling Institutions

w9930 Michael Faulkender
Mitchell A. Petersen

Does the Source of Capital Affect Capital Structure?

w9900 Paul R. Bergin
Ivan Tchakarov

Does Exchange Rate Risk Matter for Welfare?

w9887 Brian J. Hall
Six Challenges in Designing Equity-Based Pay

w9882 Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer

What Works in Securities Law?

w10623 Kenneth A. Carow
Edward J. Kane
Rajesh Narayanan

How Have Borrowers Fared in Banking Mega-Mergers?

w9816 Paul Gompers
Josh Lerner
David Scharfstein

Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986-1999

w9813 Lucian Arye Bebchuk
Jesse M. Fried

Executive Compensation as an Agency Problem

w9810 Youngjae Lim
Chin Hee Hahn

Bankruptcy Policy Reform and Total Factor Productivity Dynamics in Korea

w9807 Steven Kaplan
Antoinette Schoar

Private Equity Performance: Returns, Persistence and Capital

w9784 Brian J. Hall
Kevin J. Murphy

The Trouble with Stock Options

w9763 Walter Novaes
Luigi Zingales

Bureaucracy as a Mechanism to Generate Information

w9758 James Dow
Gary Gorton
Arvind Krishnamurthy

Equilibrium Asset Prices Under Imperfect Corporate Control

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

w9722 Patrick Bolton
Jose Scheinkman
Wei Xiong

Executive Compensation and Short-termist Behavior in Speculative Markets

w9715 Mihir A. Desai
C. Fritz Foley
James R. Hines
Jr.

A Multinational Perspective on Capital Structure Choice and Internal Capital Markets

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

w9710 Donald Morgan
Philip Strahan

Foreign Bank Entry and Business Volatility: Evidence from U.S. States and Other Countries

w9704 Donald Morgan
Bertrand Rime
Philip Strahan

Bank Integration and State Business Cycles

w9680 Josh Lerner
Jean Tirole
Marcin Strojwas

Cooperative Marketing Agreements Between Competitors: Evidence from Patent Pools

w9659 Raymond Fisman
Mayank Raturi

Does Competition Encourage Credit Provision? Evidence from African Trade Credit Relationships

w9657 Alon Brav
John R. Graham
Campbell R. Harvey
Roni Michaely

Payout Policy in the 21st Century

w9651 Randall Morck
Why Some Double Taxation Might Make Sense: The Special Case of Inter-corporate Dividends

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

w9644 Patrick McGuire
Bank Ties and Bond Market Access: Evidence on Investment-Cash Flow Sensitivity in Japan

w9643 Joe Peek
Eric S. Rosengren

Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan

w9634 Edward J. Kane
Continuing Dangers of Disinformation in Corporate Accounting Reports

w9633 Raghuram Rajan
Julie Wulf

The Flattening Firm: Evidence from Panel Data on the Changing Nature of Corporate Hierarchies

w9620 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Bank Supervision and Corporate Finance

w9613 Bengt Holmstrom
Steven N. Kaplan

The State of U.S. Corporate Governance: What's Right and What's Wrong?

w9608 Simeon Djankov
Edward L. Glaeser
Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer

The New Comparative Economics

w9600 Philip L. Williams
Graeme Woodbridge

Antitrust Merger Policy: Lessons from the Australian Experience

w9599 Ricardo J. Caballero
Arvind Krishnamurthy

Inflation Targeting and Sudden Stops

w9595 Luigi Zingales
Raghuram G. Rajan

Banks and Markets: The Changing Character of European Finance

w9582 Raymond Fisman
Inessa Love

Financial Dependence and Growth Revisited

w9575 Youngjae Lim
Sources of Corporate Financing and Economic Crisis in Korea: A Micro-evidence

w9574 Chen-Chien Hsun
Shih Hui-Tzu

Initial Public Offering and Corporate Governance in China's Transitional Economy

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

w9527 Bruce Blonigen
Rossitza B. Wooster

CEO Turnover and Foreign Market Participation

w9523 Sara B. Moeller
Frederik P. Schlingemann
Rene M. Stulz

Do shareholders of acquiring firms gain from acquisitions?

w9493 Andrei Shleifer
Will the Sovereign Debt Market Survive?

w9488 Peter Blair Henry
Capital Account Liberalization, The Cost of Capital, and Economic Growth

w9481 Rodolfo Martell
Rene M. Stulz

Equity market liberalizations as country IPOs

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
w9386 Yishay Yafeh
An International Perspective of Japan's Corporate Groups and their Prospects

w9385 Takero Doi
Takeo Hoshi

Paying for the FILP

w9384 Anil K. Kashyap
Sorting Out Japan's Financial Crisis

w9380 Lucian Bebchuk
Alma Cohen
Allen Ferrell

Does the Evidence Favor State Competition in Corporate Law?

w9371 Patrick Bolton
Marco Becht
Alisa Röell

Corporate Governance and Control

w9369 Serkan Arslanalp
Peter Blair Henry

Debt Relief: What Do the Markets Think?

w9368 Mitsuhiro Fukao
Financial Sector Profitability and Double-Gearing

w9363 Josh Lerner
Jean Tirole

The Scope of Open Source Licensing

w9340 Wei Fan
Michelle J. White

Personal Bankruptcy and the Level of Entrepreneurial Activity

w9327 Nengjiu Ju
Robert Parrino
Allen M. Poteshman
Michael S. Weisbach

Horses and Rabbits? Optimal Dynamic Capital Structure from Shareholder and Manager Perspectives

w9323 James R. Barth
Gerard Caprio
Jr.
Ross Levine

Bank Regulation and Supervision: What Works Best?

w9322 Armen Hovakimian
Edward J. Kane
Luc Laeven

How Country and Safety-Net Characteristics Affect Bank Risk-Shifting

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

w9253 Heitor Almeida
Murillo Campello
Michael S. Weisbach

Corporate Demand for Liquidity

w9252 Susan Feinberg
Gordon Phillips

Firm-Specific Resources, Financial-Market Development and the Growth of U.S. Multinationals

w9251 Antonio E. Bernardo
Ivo Welch

Financial Market Runs

w9246 Paul Asquith
Michael B. Mikhail
Andrea S. Au

Information Content of Equity Analyst Reports

w9237 Luigi Guiso
Paola Sapienza
Luigi Zingales

People's Opium? Religion and Economic Attitudes

w9222 Nicholas Barberis
Richard Thaler

A Survey of Behavioral Finance

w9175 Josh Lerner
Jean Tirole

Efficient Patent Pools

w9158 Gary Gorton
Lixin Huang

Liquidity, Efficiency and Bank Bailouts

w9156 Oren Bar-Gill
Michal Barzuza
Lucian Bebchuk

The Market for Corporate Law

w9146 Josh Lerner
Antoinetter Schoar

The Illiquidity Puzzle: Theory and Evidence from Private Equity

w9138 Ross Levine
Bank-Based or Market-Based Financial Systems: Which is Better?

w9137 Gary Gorton
Lixin Huang

Banking Panics and the Origin of Central Banking

w9131 Nellie Liang
Scott Weisbenner

Investor Behavior and the Purchase of Company Stock in 401(k) Plans - The Importance of Plan Design

w9126 Roberta Romano
Does Confidential Proxy Voting Matter?

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

w9107 Lucian Bebchuk
Alma Cohen

Firms' Decisions Where to Incorporate

w9102 Gary Gorton
Lixin Huang

Bank Panics and the Endogeneity of Central Banking

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

w9059 Brian J. Hall
Thomas A. Knox

Managing Option Fragility

w9057 Mihir A. Desai
James R. Hines Jr.

Expectations and Expatriations: Tracing the Causes and Consequences of Corporate Inversions

w9049 Owen A. Lamont
Evaluating Value Weighting: Corporate Events and Market Timing

w9032 Peter MacKay
Gordon M. Phillips

Is There an Optimal Industry Financial Structure?

w9015 Roger H. Gordon
Julie Berry Cullen

Taxes and Entrepreneurial Activity: Theory and Evidence for the U.S.

w9010 Jeremy Berkowitz
Michelle J. White

Bankruptcy and Small Firms' Access to Credit

w9009 Boyan Jovanovic
Serguey Braguinsky

Bidder Discounts and Target Premia in Takeovers

w9007 Sean Nicholson
Patricia M. Danzon
Jeffrey S. McCullough

Biotech-Pharmaceutical Alliances as a Signal of Asset and Firm Quality

w9001 Denis Gromb
David Scharfstein

Entrepreneurship in Equilibrium

w8994 G. Andrew Karolyi
Rene M. Stulz

Are Financial Assets Priced Locally or Globally?

w8989 Henry Hansmann
Daniel Kessler
Mark McClellan

Ownership Form and Trapped Capital in the Hospital Industry

w8988 Anusha Chari
Peter Blair Henry

Risk Sharing and Asset Prices: Evidence From a Natural Experiment

w8982 Thorsten Beck
Ross Levine

Industry Growth and Capital Allocation: Does Having a Market- or Bank-Based System Matter?

w8977 Josh Lerner
Patent Protection and Innovation Over 150 Years

w8974 Lucian Arye Bebchuk
John C. Coates IV
Guhan Subramanian

The Powerful Antitakeover Force of Staggered Boards: Theory, Evidence and Policy

w8960 Raymond Fisman
Inessa Love

Trade Credit, Financial Intermediary Development and Industry Growth

w8954 Michael R. Darby
Lynne G. Zucker

Going Public When You Can in Biotechnology

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

w8877 Mark J. Garmaise
Tobias J. Moskowitz

Confronting Information Asymmetries: Evidence from Real Estate Markets

w8876 Tobias J. Moskowitz
Annette Vissing-Jorgensen

The Returns to Entrepreneurial Investment: A Private Equity Premium Puzzle?

w8874 Mark J. Garmaise
Tobias J. Moskowitz

Informal Financial Networks: Theory and Evidence

w8866 Mihir A. Desai
The Corporate Profit Base, Tax Sheltering Activity, and the Changing Nature of Employee Compensation

w8852 Simon Johnson
John McMillan
Christopher Woodruff

Property Rights and Finance

w8848 Rafael La Porta
Florencio Lopez-de-Silane
Guillermo Zamarripa

Related Lending

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

w8793 Randolph B. Cohen
Paul A. Gompers
Tuomo Vuolteenaho

Who Underreacts to Cash-Flow News? Evidence from Trading between Individuals and Institutions

w8788 Amit Goyal
Ivo Welch

Predicting the Equity Premium With Dividend Ratios

w8782 Ivo Welch
Columbus' Egg: The Real Determinant of Capital Structure

w8776 Mike Burkart
Fausto Panunzi
Andrei Shleifer

Family Firms

w8773 Bronwyn H. Hall
The Financing of Research and Development

w8764 Steven N. Kaplan
Per Stromberg

Characteristics, Contracts, and Actions: Evidence from Venture Capitalist Analyses

w8763 Robert Parrino
Allen M. Poteshman
Michael S. Weisbach

Measuring Investment Distortions when Risk-Averse Managers Decide Whether to Undertake Risky Projects

w8759 Rafael La Porta
Florencio Lopez-de-Silane
Cristian Pop-Eleches
Andrei Shleifer

The Guarantees of Freedom

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

w8750 Malcolm Baker
Jeremy C. Stein
Jeffrey Wurgler

When Does the Market Matter? Stock Prices and the Investment of Equity-Dependent Firms

w8740 Boyan Jovanovic
Peter L. Rousseau

The Q-Theory of Mergers

w8719 Ravi Jagannathan
Iwan Meier

Do We Need CAPM for Capital Budgeting?

w8711 Alexander Dyck
Luigi Zingales

Private Benefits of Control: An International Comparison

w8698 Mihir A. Desai
C. Fritz Foley
James R. Hines Jr.

Dividend Policy inside the Firm


2001
w8694 Randall S. Kroszner
Philip E. Strahan

Throwing Good Money After Bad? Board Connections and Conflicts in Bank Lending

w8680 Lee Pinkowitz
Rene M. Stulz
Rohan Williamson

Corporate Governance and the Home Bias

w8661 Lucian Arye Bebchuk
Jesse M. Fried
David I. Walker

Executive Compensation in America: Optimal Contracting or Extraction of Rents?

w8652 Arturo Bris
Ivo Welch

The Optimal Concentration of Creditors

w8641 Sheridan Titman
The Modigliani and Miller Theorem and Market Efficiency

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

w8572 Simon Johnson
John McMillan
Christopher Woodruff

Courts and Relational Contracts

w8538 Craig Doidge
G. Andrew Karolyi
Rene M. Stulz

Why are Foreign Firms Listed in the U.S. Worth More?

w8505 Paul A. Gompers
Josh Lerner

The Really Long-Run Performance of Initial Public Offerings: The Pre-NASDAQ Evidence

w8493 Edward J. Kane
Asli Demirguc-Kunt

Deposit Insurance Around the Globe: Where Does it Work?

w8464 Glenn MacDonald
Michael Weisbach

The Economics of Has-Beens

w8460 Daron Acemoglu
Simon Johnson
James A. Robinson

Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution

w8449 Paul A. Gompers
Joy L. Ishii
Andrew Metrick

Corporate Governance and Equity Prices

w8439 Andrei Shleifer
Robert W. Vishny

Stock Market Driven Acquisitions

w8399 Edward J. Kane
Using Deferred Compensation to Strengthen the Ethicsof Financial Regulation

w8358 Harrison Hong
Jeffrey D. Kubik
Jeremy C. Stein

Social Interaction and Stock-Market Participation

w8342 Jeremy C. Stein
Agency, Information and Corporate Investment

w8302 Owen A. Lamont
Richard H. Thaler

Can the Market Add and Subtract? Mispricing in Tech Stock Carve-Outs

w8286 Oliver Hart
Norms and the Theory of the Firm

w8285 Oliver Hart
Financial Contracting

w8272 Edward L. Glaeser
Andrei Shleifer

Legal Origins

w8251 Dan Elfenbein
Josh Lerner

Links and Hyperlinks: An Empirical Analysis of Internet Portal Alliances, 1995-1999

w8224 Edward J. Kane
Financial Safety Nets: Reconstructing and Modeling a Policymaking Metaphor

w8222 Rene M. Stulz
Rohan Williamson

Culture, Openness, and Finance

w8220 Bengt Holmstrom
Steven N. Kaplan

Corporate Governance and Merger Activity in the U.S.: Making Sense of the 1980s and 1990s

w8203 Alan J. Auerbach
Taxation and Corporate Financial Policy

w8202 Steven N. Kaplan
Per Stromberg

Venture Capitalists As Principals: Contracting, Screening, and Monitoring

w8201 Leslie Eldenburg
Benjamin E. Hermalin
Michael S. Weisbach
Marta Wosinska

Hospital Governance, Performance Objectives, and Organizational Form

w8184 Edward L. Glaeser
Andrei Shleifer

A Case for Quantity Regulation

w8178 Raghuram G. Rajan
Luigi Zingales

The Great Reversals: The Politics of Financial Development in the 20th Century

w8177 Raghuram G. Rajan
Luigi Zingales

The Influence of the Financial Revolution on the Nature of Firms

w8164 William A. Reese
Jr.
Michael S. Weisbach

Protection of Minority Shareholder Interests, Cross-listings in the United States, and Subsequent Equity Offerings

w8161 Benjamin E. Hermalin
Michael S. Weisbach

Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature

w8151 Joseph Chen
Harrison Hong
Jeremy C. Stein

Breadth of Ownership and Stock Returns

w8110 Kenneth A. Froot
The Market for Catastrophe Risk: A Clinical Examination

w8106 Kenneth A. Froot
Steven E. Posner

The Pricing of Event Risks with Parameter Uncertainty

w8093 Artyom Durnev
Randall Morck
Bernard Yeung

Does Firm-specific Information in Stock Prices Guide Capital Allocation?

w8081 Boyan Jovanovic
Peter L. Rousseau

Why Wait? A Century of Life Before IPO


2000
w8052 Brian J. Hall
Kevin J. Murphy

Stock Options for Undiversified Executives

w8045 Amy Finkelstein
James Poterba

Adverse Selection in Insurance Markets: Policyholder Evidence from the U.K. Annuity Market

w8017 Luis Garicano
Steven N. Kaplan

The Effects of Business-to-Business E-Commerce on Transaction Costs

w8003 Edward J. Kane
Tara Rice

Bank Runs and Banking Policies: Lessons for African Policymakers

w7997 Takatoshi Ito
Kimie Harada

Japan Premium and Stock Prices: Two Mirrors of Japanese Banking Crises

w7974 Andrei Shleifer
Daniel Wolfenson

Investor Protection and Equity Markets

w7958 Raghuram G. Rajan
Luigi Zingales

The Governance of the New Enterprise

w7952 Marianne Bertrand
Paras Mehta
Sendhil Mullainathan

Ferreting Out Tunneling: An Application to Indian Business Groups

w7945 Gary Gorton
Frank Schmid

Class Struggle Inside the Firm: A Study of German Codetermination

w7935 Michelle Lowry
G. William Schwert

IPO Market Cycles: Bubbles or Sequential Learning?

w7921 Oliver Hart
Different Approaches to Bankruptcy

w7918 Josh Lerner
Where Does State Street Lead? A First Look at Finance Patents, 1971-2000

w7913 Kee-Hong Bae
G. Andrew Karolyi
Rene M. Stulz

A New Approach to Measuring Financial Contagion

w7894 William M. Gentry
R. Glenn Hubbard

Entrepreneurship and Household Saving

w7873 Frederik P. Schlingemann
Rene M. Stulz
Ralph A. Walkling

Asset Liquidity and Segment Divestitures

w7821 Alan J. Auerbach
Kevin A. Hassett

On the Marginal Source of Investment Funds

w7808 Hyun-Han Shin
Rene M. Stulz

Firm Value, Risk, and Growth Opportunities

w7803 Owen Lamont
Christopher Polk

Does Diversification Destroy Value? Evidence From Industry Shocks

w7792 Ricardo J. Caballero
Arvind Krishnamurthy

Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment

w7786 Ann E. Sherman
Sheridan Titman

Building the IPO Order Book: Underpricing and Participation Limits With Costly Information

w5462 Steven M. Fazzari
R. Glenn Hubbard
Bruce C. Petersen

Financing Constraints and Corporate Investment: Response to Kaplan and Zingales

w7764 Douglas W. Diamond
Raghuram G. Rajan

Banks, Short Term Debt and Financial Crises: Theory, Policy Implications and Applications

w7748 George Chacko
Peter Tufano
Geoffrey Verter

Cephalon, Inc. Taking Risk Management Theory Seriously

w7706 Luigi Zingales
In Search of New Foundations

w7705 Jeremy C. Stein
Information Production and Capital Allocation: Decentralized vs. Hierarchical Firms

w7687 Joseph Chen
Harrison Hong
Jeremy C. Stein

Forecasting Crashes: Trading Volume, Past Returns and Conditional Skewness in Stock Prices

w7685 Mitchell A. Petersen
Raghuram G. Rajan

Does Distance Still Matter? The Information Revolution in Small Business Lending

w7683 Francois Degeorge
Dirk Jenter
Alberto Moel
Peter Tufano

Selling Company Shares to Reluctant Employees: France Telecom's Experience

w7660 Steven N. Kaplan
Per Stromberg

Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts

w7659 Steven N. Kaplan
Luigi Zingales

Investment-Cash Flow Sensitivities are not Valid Measures of Financing Constraints

w7634 George P. Baker
Thomas N. Hubbard

Contractibility and Asset Ownership: On-Board Computers and Governance in U.S. Trucking

w6919 Lucian Arye Bebchuk
Christine Jolls

Managerial Value Diversion and Shareholder Wealth

w7629 Mark Carey
Dimensions of Credit Risk and Their Relationship to Economic Capital Requirements

w7620 Rafael La Porta
Florencio Lopezde-Silanes
Andrei Shleifer

Government Ownership of Banks

w7616 Olivier Blanchard
Andrei Shleifer

Federalism with and without Political Centralization: China versus Russia

w7604 Marianne Bertrand
Sendhil Mullainathan

Do CEOs Set Their Own Pay? The Ones Without Principals Do

w7596 Brian J. Hall
Jeffrey B. Liebman

The Taxation of Executive Compensation

w7589 John Y. Campbell
Asset Pricing at the Millennium

w7587 Eitan Goldman
Gary Gorton

The Visible Hand, the Invisible Hand and Efficiency

w6521 Lucian Arye Bebchuk
Andrew T. Guzman

An Economic Analysis of Transnational Bankruptcies

w7563 Luigi Guiso
Paola Sapienza
Luigi Zingales

The Role of Social Capital in Financial Development

w7548 Brian J. Hall
Kevin J. Murphy

Optimal Exercise Prices for Executive Stock Options

w7546 Raghuram G. Rajan
Luigi Zingales

The Firm as a Dedicated Hierarchy: A Theory of the Origin and Growth of Firms

w7529 Rene M. Stulz
U.S. Banks, Crises, and Bailouts: From Mexico to LTCM

w7523 Simon Johnson
Rafael La Porta
Florencio Lopez-de-Silanes
Andrei Shleifer

Tunnelling

w7209 Charles P. Himmelberg
R. Glenn Hubbard
Darius Palia

Understanding the Determinants of Managerial Ownership and the Link Between Ownership and Performance

w7514 Edward J. Kane
Capital Movements, Banking Insolvency, and Silent Runs in the Asian Financial Crisis

w7464 Josh Lerner
Alexander Tsai

Do Equity Financing Cycles Matter? Evidence from Biotechnology Alliances


1999
w7430 Douglas W. Diamond
Raghuram G. Rajan

Liquidity Risk, Liquidity Creation and Financial Fragility: A Theory of Banking

w7447 Simon Johnson
Andrei Shleifer

Coase v. the Coasians

w7433 Roger H. Gordon
Young Lee

Do Taxes Affect Corporate Debt Policy? Evidence from US Corporate Tax Return Data

w7431 Douglas W. Diamond
Raghuram G. Rajan

A Theory of Bank Capital

w7428 Rafael La Porta
Florencio Lopez-deSilanes
Andrei Shleifer
Robert W. Vishny

Investor Protection: Origins, Consequences, and Reform

w7403 Rafael La Porta
Florencio Lopez-deSilanes
Andrei Shleifer
Robert W. Vishny

Investor Protection and Corporate Valuation

w7396 Owen Lamont
Christopher Polk

The Diversification Discount: Cash Flows vs. Returns

w7388 Oliver Hart
John Moore

On the Design of Hierarchies: Coordination Versus Specialization

w7335 Rajesh K. Aggarwal
Andrew A. Samwick

Empire-Builders and Shirkers: Investment, Firm Performance, and Managerial Incentives

w7334 Rajesh K. Aggarwal
Andrew A. Samwick

Performance Incentives Within Firms: The Effect of Managerial Responsibility

w7319 Randall S. Kroszner
Philip E. Strahan

Bankers on Boards: Monitoring, Conflicts of Interest, and Lender Liability

w7250 Takeo Hoshi
Anil Kashyap

The Japanese Banking Crisis: Where Did It Come From and How Will It End?

w7208 Krishna B. Kumar
Raghuram G. Rajan
Luigi Zingales

What Determines Firm Size?

w7175 Frederik P. Schlingemann
Rene M. Stulz
Ralph A. Walkling

Corporate Focusing and Internal Capital Markets

w7159 Narasimhan Jegadeesh
Sheridan Titman

Profitability of Momentum Strategies: An Evaluation of Alternative Explanations

w7156 Edward J. Kane
How Offshore Financial Competition Disciplines Exit Resistence by Incentive-Conflicted Bank Regulators

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

w7021 Rene M. Stulz
Globalization of Equity Markets and the Cost of Capital

w7020 Steven Huddart
Ravi Jagannathan
Jane Saly

Valuing the Reload Features of Executive Stock Options

w6962 Anil K. Kashyap
Raghuram Rajan
Jeremy C. Stein

Banks as Liquidity Providers: An Explanation for the Co-Existence of Lending and Deposit-Taking

w6955 Tarun Khanna
Krishna Palepu

Emerging Market Business Groups, Foreign Investors, and Corporate Governance

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

w6938 Lucian Arye Bebchuk
Marcel Kahan

The 'Lemons Effect' in Corporate Freeze-Outs

w6906 Paul A. Gompers
Josh Lerner

What Drives Venture Capital Fundraising?

w6875 Bengt Holmstrom
Managerial Incentive Problems: A Dynamic Perspective


1998
w6868 George P. Baker
Brian J. Hall

CEO Incentives and Firm Size

w6847 Paul Gompers
Josh Lerner

Conflict of Interest in the Issuance of Public Securities: Evidence from Venture Capital

w6846 Samuel Kortum
Josh Lerner

Does Venture Capital Spur Innovation?

w6837 Brian J. Hall
Regulatory Free Cash Flow and the High Cost of Insurance Company Failures

w6823 Edward J. Kane
Kimberly DeTrask

Covering Up Trading Losses: Opportunity-Cost Accounting as an Internal Control Mechanism

w6819 Paul G. Mahoney
Trust and Opportunism in Close Corporations

w6814 Randall K. Morck
David A. Stangeland
Bernard Yeung

Inherited Wealth, Corporate Control and Economic Growth: The Canadian Disease

w6765 Clifford G. Holderness
Dennis P. Sheehan

Constraints on Large-Block Shareholders

w6726 Oliver Hart
John Moore

Foundations of Incomplete Contracts

w6725 Paul A. Gompers
Josh Lerner

The Determinants of Corporate Venture Capital Successes: Organizational Structure, Incentives, and Complementarities

w6723 Paul A. Gompers
Andrew Metrick

Institutional Investors and Equity Prices

w6674 Brian J. Hall
The Pay to Performance Incentives of Executive Stock Options

w6673 Bengt Holmstrom
Jean Tirole

LAPM: A Liquidity-based Asset Pricing Model

w6665 Andrei Shleifer
State Versus Private Ownership

w6661 Hyuk Choe
Bong-Chan Kho
Rene M. Stulz

Do Foreign Investors Destabilize Stock Markets? The Korean Experience in 1997

w6634 Rajesh Aggarwal
Andrew A. Samwick

The Other Side of the Tradeoff: The Impact of Risk on Executive Compensation

w6633 Edward J. Kane
Capital Movements, Asset Values, and Banking Policy in Globalized Markets

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

w6572 Kenneth A. Froot
Emil Dabora

How are Stock Prices Affected by the Location of Trade?

w6561 Stewart C. Myers
Outside Equity Financing

w6553 Harrison Hong
Terence Lim
Jeremy C. Stein

Bad News Travels Slowly: Size, Analyst Coverage and the Profitability of Momentum Strategies

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

w6539 R. Glenn Hubbard
Darius Palia

A Re-Examination of the Conglomerate Merger Wave in the 1960s: An Internal Capital Markets View

w6473 Lucian Arye Bebchuk
Chapter 11

w6467 Christine Jolls
Stock Repurchases and Incentive Compensation

w6451 Edward J. Kane
Berry K. Wilson

A Contracting-Theory Interpretation of the Origins of Federal Deposit Insurance

w6433 William M. Gentry
R. Glenn Hubbard

Fundamental Tax Reform and Corporate Financial Policy

w6421 Oliver Hart
John Moore

Cooperatives vs. Outside Ownership

w6394 Judith Chevalier
Glenn Ellison

Career Concerns of Mutual Fund Managers

w6368 Raghuram Rajan
Henri Servaes
Luigi Zingales

The Cost of Diversity: The Diversification Discount and Inefficient Investment

w6352 David S. Scharfstein
The Dark Side of Internal Capital Markets II: Evidence from Diversified Conglomerates


1997
w6324 Harrison Hong
Jeremy C. Stein

A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets

w6309 Luigi Zingales
Corporate Governance

w6278 Oliver Hart
Rafael La Porta Drago
Florencio Lopez-de-Silane
John Moore

A New Bankruptcy Procedure that Uses Multiple Auctions

w6274 Raghuram G. Rajan
Luigi Zingales

Power in a Theory of the Firm

w6273 Luigi Zingales
Survival of the Fittest or the Fattest? Exit and Financing in the Trucking Industry

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

w6234 Tim Opler
Lee Pinkowitz
Rene Stulz
Rohan Williamson

The Determinants and Implications of Corporate Cash Holdings

w6215 Rafael La Porta
Florencio Lopez-de-Silane

The Benefits of Privatization: Evidence from Mexico

w6213 Brian J. Hall
Jeffrey B. Liebman

Are CEOs Really Paid Like Bureaucrats?

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

w6068 Assem Safieddine
Sheridan Titman

Debt and Corporate Performance: Evidence from Unsuccessful Takeovers

w6056 Anil K Kashyap
Jeremy C. Stein

What Do a Million Banks Have to Say About the Transmission of Monetary Policy?

w6043 Kenneth A. Froot
Paul G. J. O'Connell

The Pricing of U.S. Catastrophe Reinsurance

w6025 Kenneth A. Froot
The Limited Financing of Catastrophe Risk: An Overview

w6020 Edward J. Kane
Ethical Foundations of Financial Regulation

w6011 Kenneth A. Froot
Paul G. J. O'Connell

On The Pricing of Intermediated Risks: Theory and Application to Catastrophe Reinsurance

w6001 James M. Poterba
The History of Annuities in the United States

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

w5996 R. Glenn Hubbard
Capital-Market Imperfections and Investment

w5969 David S. Scharfstein
Jeremy C. Stein

The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment

w5961 Owen Lamont
Jeremy C. Stein

Leverage and House-Price Dynamics in U.S. Cities

w5907 Oliver Hart
John Moore

Default and Renegotiation: A Dynamic Model of Debt

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

w5879 Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer
Robert W. Vishny

Legal Determinants of External Finance


1996
w5864 Rafael La Porta
Florencio Lopez-de-Silane
Andrei Shleifer
Robert W. Vishny

Trust in Large Organizations

w5852 Judith Chevalier
Glenn Ellison

Are Some Mutual Funds Managers Better Than Others? Cross-Sectional Patterns in Behavior and Performance

w5848 Berry K. Wilson
Edward J. Kane

The Demise of Double Liability as an Optimal Contract for Large-Bank Stockholders

w5819 Jun-Koo Kang
Yong-Cheol Kim
Rene M. Stulz

The Underreaction Hypothesis and the New Issue Puzzle: Evidence from Japan

w5817 Bengt Holmstrom
Jean Tirole

Private and Public Supply of Liquidity

w5779 Gary Gorton
Bruce D. Grundy

Executive Compensation and the Optimality of Managerial Entrenchment

w5758 Raghuram G. Rajan
Luigi Zingales

Financial Dependence and Growth

w5744 Oliver Hart
Andrei Shleifer
Robert W. Vishny

The Proper Scope of Government: Theory and an Application to Prisons

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

w5639 Hyun-Han Shin
Rene M. Stulz

An Analysis of Divisional Investment Policies

w5604 Kent Daniel
Sheridan Titman

Evidence on the Characteristics of Cross Sectional Variation in Stock Returns

w5602 Mitchell A. Petersen
Raghuram G. Rajan

Trade Credit: Theories and Evidence

w5584 Lucian Arye Bebchuk
Luigi Zingales

Corporate Ownership Structures: Private versus Social Optimality

w5554 Andrei Shleifer
Robert W. Vishny

A Survey of Corporate Governance

w5499 Owen Lamont
Cash Flow and Investment: Evidence from Internal Capital Markets

w5498 Sudipto Dasgupta
Sheridan Titman

Pricing Strategy and Financial Policy

w5496 Jeremy C. Stein
Rational Capital Budgeting in an Irrational World

w5494 Florencio Lopez-de-Silane
Determinants of Privatization Prices

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


1995
w5396 Raghuram G. Rajan
Luigi Zingales

The Tyranny of Inequality

w5384 Walter Novaes
Luigi Zingales

Capital Structure Choice when Managers are in Control: Entrenchment versus Efficiency

w5367 Marco Pagano
Fabio Panetta
Luigi Zingales

Why Do Companies Go Public? An Empirical Analysis

w5267 Steven N. Kaplan
Luigi Zingales

Do Financing Constraints Explain Why Investment is Correlated with Cash Flow?

w5256 Randall S. Kroszner
Raghuram G. Rajan

Organization Structure and Credibility: Evidence from Commercial Bank Securities Activities Before the Glass-Steagall Act

w5246 Patricia Born
William M. Gentry
W. Kip Viscusi
Richard J. Zeckhauser

Organizational Form and Insurance Company Performance: Stocks versus Mutuals

w5244 Gary Gorton
Andrew Winton

Bank Capital Regulation in General Equilibrium

w5234 Judith A. Chevalier
Glenn D. Ellison

Risk Taking by Mutual Funds as a Response to Incentives

w5233 James Dow
Gary Gorton

Stock Market Efficiency and Economic Efficiency: Is There a Connection?

w5232 Jason G. Cummins
Kevin A. Hassett
R. Glenn Hubbard

Tax Reforms and Investment: A Cross-Country Comparison

w5229 Anne Gron
Deborah Lucas

External Financing and Insurance Cycles

w5217 Jeremy C. Stein
An Adverse Selection Model of Bank Asset and Liability Management with Implications for the Transmission of Monetary Policy

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

w5166 Jun-Koo Kang
Rene M. Stulz

Why Is There a Home Bias? An Analysis of Foreign Portfolio Equity Ownership in Japan

w5165 Larry Lang
Eli Ofek
Rene M. Stulz

Leverage, Investment, and Firm Growth

w5143 Stewart C. Myers
Raghuram G. Rajan

The Paradox of Liquidity

w5136 Nicholas Barberis
Maxim Boycko
Andrei Shleifer
Natalia Tsukanova

How Does Privatization Work? Evidence from the Russian Shops

w5113 Florencio Lopez-de-Silane
Andrei Shleifer
Robert W. Vishny

Privatization in the United States

w5111 Edward J. Kane
What is the Value-Added for Large U.S. Banks in Offering Mutual Funds?

w5101 Jeremy C. Stein
Internal Capital Markets and the Competition for Corporate Resources

w5100 Gary Gorton
Richard Rosen

Banks and Derivatives

w5096 Robert C. Merton
Financial Innovation and the Management and Regulation of Financial Institutions

w5079 R. Glenn Hubbard
Darius Palia

Benefits of Control, Managerial Ownership, and the Stock Returns of Acquiring Firms

w5045 John H. Boyd
Mark Gertler

Are Banks Dead? Or Are the Reports Greatly Exaggerated?


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

w4908 Jun-Koo Kang
Rene M. Stulz

How Different is Japanese Corporate Finance? An Investigation of the Information Content of New Security Issues

w4907 Kooyul Jung
Yong-Cheol Kim
Rene M. Stulz

Investment Opportunities, Managerial Decisions, and the Security Issue Decision

w4886 Oliver Hart
John Moore

Debt and Seniority: An Analysis of the Role of Hard Claims in Constraining Management

w4875 Raghuram G. Rajan
Luigi Zingales

What Do We Know About Capital Structure? Some Evidence from International Data

t0167 Peter F. Christoffersen
Francis X. Diebold

Optimal Prediction Under Asymmetric Loss

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

w4782 Jeremy C. Stein
Waves of Creative Destruction: Customer Bases and the Dynamics of Innovation

w4776 Robert H. Gertner
David S. Scharfstein
Jeremy C. Stein

Internal versus External Capital Markets

w4724 Steven N. Kaplan
Richard S. Ruback

The Valuation of Cash Flow Forecasts: An Empirical Analysis

w4722 Lakshmi Shyam-Sunder
Stewart C. Myers

Testing Static Trade-off Against Pecking Order Models of Capital Structure

w4704 R. Glenn Hubbard
Darius Palia

Executive Pay and Performance: Evidence from the U.S. Banking Industry

w4701 Edward J. Kane
Min-Teh Yu

How Much Did Capital Forbearance Add to the Cost of the S&L Insurance Mess

w4654 Larry Lang
Annette Poulsen
Rene M. Stulz

Asset Sales, Firm Performance, and the Agency Costs of Managerial Discretion

w4648 Edward J. Kane
Robert Hendershott

"The Federal Deposit Insurance Fund That Didn't Put A Bite on U.S. Tax Payers"

w4645 Rene M. Stulz
International Portfolio Choice and Asset Pricing: An Integrative Survey

w4608 Jeremy Bulow
Paul Klemperer

Auctions vs. Negotiations


1993
w4421 Takeo Hoshi
Anil Kashyap
David Scharfstein

The Choice Between Public and Private Debt: An Analysis of Post-Deregulation Corporate Financing in Japan

w4416 Steven N. Kaplan
Top Executives, Turnover and Firm Performance in Germany

w4408 Charles W. Calomiris
Corporate-Finance Benefits from Universal Banking: Germany and the United States, 1870-1914

w4400 Gary Gorton
Reputation Formation in Early Bank Debt Markets

w4393 Joel M. Dickson
John B. Shoven

Ranking Mutual Funds on an After-Tax Basis

w4392 R. Glenn Hubbard
Anil K Kashyap
Toni M. Whited

Internal Finance and Firm Investment

w4376 Larry H.P. Lang
Rene M. Stulz

Tobin's Q, Corporate Diversification and Firm Performance

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

w4276 Steven Kaplan
Bernadette Minton

'Outside' Intervention in Japanese Companies: Its Determinants and Implications for Mangers

w4273 Gary Gorton
James A. Kahn

The Design of Bank Loan Contracts, Collateral, and Renegotiation

w4258 Olivier J. Blanchard
Florencio Lopez-de-Silane

What do Firms do with Cash Windfalls?


1992
w4247 Gary Gorton
Richard Rosen

Corporate Control, Portfolio Choice, and the Decline of Banking

w4244 B. Douglas Bernheim
Adam Wantz

A Tax-Based Test of the Dividend Signaling Hypothesis

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?

w4128 Patric Hendershott
Edward J. Kane

Office Market Values During the Past Decade: How Distorted Have Appraisals Been?

r1737 Patric H. Hendershott
Edward J. Kane

Causes and Consequences of the 1980s Commercial Construction Boom

w4097 Philippe Aghion
Oliver Hart
John Moore

The Economics of Bankruptcy Reform

w4096 Bronwyn H. Hall
Investment and Research and Development at the Firm Level: Does the Source of Financing Matter?

w4092 Frank R. Lichtenberg
George. M Pushner

Ownership Structure and Corporate Performance in Japan

w4084 Kenneth A. Froot
David S. Scharfstein
Jeremy C. Stein

Risk Management: Coordinating Corporate Investment and Financing Policies

w4065 Steven N. Kaplan
Top Executive Rewards and Firm Performance: A Comparison of Japan and the U.S.

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

w3906 Oliver Hart
John Moore

A Theory of Debt Based on the Inalienability of Human Capital

w3902 Mark Gertler
R. Glenn Hubbard

Corporate Financial Policy, Taxation, and Macroeconomic Risk


1978
w0266 Jay B. Morrison
David H. Pyle

Interest Rate Risk and the Regulation of Financial Institutions


Generated Sun Sep 21 00:00:16 2014

 
Publications
Activities
Meetings
NBER Videos
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us