RCFS News

The winners of the annual RCFS Awards were announced at the virtual Awards Reception on May 25 as part of the SFS Cavalcade. We are pleased to share the winners: Best Paper Award “How Do Laws and Institutions Affect Recovery Rates for Collateral?” Hans Degryse, Vasso Ioannidou, José María Liberti, and Jason Sturgess Prize: $10,000 Referee of the Year Jack Liebersohn Prize: $1000 Rising Scholar Award “Tough Love: The Effects of Debt Contract… Read More »Winners of the RCFS Awards

In the Spring 2021 issue of SEE FAR, RCFS Executive Editor Andrew Ellul has written “Financing Innovation: Evidence from the Medical Field” based on a session that RCFS co-organized at the 17th Annual Conference on Corporate Finance and Financial Intermediation with the Olin Business School at Washington University.

“Are Directors Rewarded for Excellence? Evidence from Reputation Shocks and Career Outcomes” by Mark Andrew Chen, Hai Tran, Qinxi Wu, and Evgenia Zhivotova

“Investor Rewards to Climate Responsibility: Stock-Price Responses to the Opposite Shocks of the 2016 and 2020 U.S. Elections” by Stefano Ramelli, Alexander F. Wagner, Richard Zeckhauser, and Alexandre Ziegler

“Social Proximity, Information, and Incentives in Local Bank Lending” by Junbo Wang, Yun Wang, Chunchi Wu, Xiaoguang Yang, and Lin Zhao

Do staggered (or classified) boards harm shareholder value through entrenchment or help through stability? In a forthcoming RCFS paper, “Staggered Boards and the Value of Voting Rights,” Oğuzhan Karakaş and Mahdi Mohseni revisit this question by using a novel methodology and provide causal evidence on the entrenchment view of staggered boards. Existence of staggered boards, where only a fraction of board members is up for election in a year, has… Read More »Paper Spotlight: Staggered Boards and the Value of Voting Rights

Differences in their objective functions lead to possible conflicts of interests between various stakeholders of firms; e.g., between shareholders and employees. These conflicts are more likely to manifest when firms face important investment or governance decisions, specifically, at times of mergers and acquisitions. How does the power of a firm’s labor force affect its exposure and gains in takeovers? In a forthcoming RCFS paper, “Hard Marriage with Heavy Burdens: Organized… Read More »Paper Spotlight: Hard Marriage with Heavy Burdens: Organized Labor as Takeover Deterrents

“How do Capital Requirements Affect Loan Rates? Evidence from High Volatility Commercial Real Estate” by David P. Glancy and Robert J. Kurtzman “Golden Handcuffs and Corporate Innovation: Evidence from Defined Benefit Pension Plans” by Huu Nhan Duong, Bin Qiu, and S. Ghon Rhee