Forthcoming Paper
“Credit Union and Bank Subprime Lending in the Great Recession” by Kangli Li and Jordan van Rijn
RCFS News
Call for Papers: CSEF-RCFS Conference on Finance, Labor, and Inequality
The CSEF-RCFS Conference on Finance, Labor, and Inequality is now accepting submissions. Please see the Call for Papers. The conference, which features a dual submission option with RCFS, will take place in Capri from June 17-18, 2022. The RCFS sponsoring editor is Andrew Ellul. The submission deadline is April 3, 2022.
Spotlight: How Do Capital Requirements Affect Loan Rates? Evidence from High Volatility Commercial Real Estate
Regulatory capital requirements for banks have been a topic of heated discussions by academicians, bankers, and policy makers for decades. Central to these discussions is how costly requiring banks to fund themselves with more equity (rather than cheaper deposits) is and how these possible regulatory costs are transmitted to bank borrowers. In a recently published RCFS paper, “How Do Capital Requirements Affect Loan Rates? Evidence from High Volatility Commercial Real… Read More »Spotlight: How Do Capital Requirements Affect Loan Rates? Evidence from High Volatility Commercial Real Estate
Forthcoming Papers
“The Burden of the National Debt: Evidence from Mergers and Acquisitions” by Ruchith Dissanayake, Yanhui Wu, and Huizhong Zhang “Social Change through Financial Innovation: Evidence from Donor-advised Funds” by Jillian Grennan
Dual Submissions with RCFS Winter Conference
The dual submission decisions for the RCFS Winter Conference have been sent. If you submitted your paper as a dual submission and did not receive your decision email, please contact us.
RCFS Keynote Speaker
RCFS is pleased to announce that Tarun Ramadorai (Imperial College London) will be the RCFS Keynote Speaker at Cavalcade North America 2022. The keynote will take place on Monday, May 23.
Paper Spotlight: Sharing R&D Risk in Healthcare via FDA Hedges
Recent estimates suggest that the cost of developing a single new drug in the biopharmaceutical sector is $2.6 billion, confirming the very large amounts of money that medical companies invest to develop a new treatment. Biomedical companies also face the risk of very low rates of success, not only due to the inherent scientific risk of developing… Read More »Paper Spotlight: Sharing R&D Risk in Healthcare via FDA Hedges
Paper Spotlight: Optimal Capital Structure with Imperfect Competition
Why do firms in the same industry often have different leverage levels? In the forthcoming paper “Optimal Capital Structure with Imperfect Competition,” Egor Matveyev and Alexei Zhdanov show that strategic interaction alone can generate this difference. The authors first exhibit a theoretical model in which two ex ante identical firms are deciding when to enter an industry and also how much debt to issue. The product price depends both on… Read More »Paper Spotlight: Optimal Capital Structure with Imperfect Competition
Forthcoming Papers
“Determinants of LGBTQ Corporate Policies” by Tanja Artiga Gonzalez, Paul Vincent Calluzzo, G. Nathan Dong, and Georg Granic “What’s good for women is good for science: Evidence from the American Finance Association” by Renee Adams and Michelle Lowry
Paper Spotlight: Corporate Transactions in Hard-to-Value Stocks
Existing evidence shows a significant cross-sectional heterogeneity in firms’ informational environment. Smaller firms may not have any research analysts following them, thus operating in a more informationally opaque environment and, as a result, asymmetric information may allow firm insiders to profit from their superior information. But insiders may also trade not so much for profit-related reasons but to… Read More »Paper Spotlight: Corporate Transactions in Hard-to-Value Stocks