Forthcoming Paper
“The Marketing Capability Premium” by Tze Chuan Ang, Tarun Chordia, Vivian Mai, and Harminder Singh
Paper Spotlight: Effect of the Equity Capital Ratio on the Relationship between Competition and Bank Risk-Taking Behavior
Risk taking by banks has been discussed extensively by researchers and policy makers for many years, even preceding the Great Recession. Literature has focused on two mechanisms that alter banks’ risk-taking behavior: higher regulatory capital ratios and higher competition due to bank deregulation. But, how does a bank’s equity capital ratio interact with banking competition in their impact on risk taking? In a forthcoming RCFS paper, “Effect of the Equity Capital… Read More »Paper Spotlight: Effect of the Equity Capital Ratio on the Relationship between Competition and Bank Risk-Taking Behavior
Paper Spotlight: Private Equity and the Resolution of Financial Distress
Leveraged buyouts by private equity funds have been a constant, and growing, phenomenon in corporate finance over the last two decades and their importance is likely to increase in the post-COVID world. Empirical literature on this subject has explored various angles, but one unanswered question is whether the high leverage used in private equity (PE) buyout transactions contributes to the disproportionately high default… Read More »Paper Spotlight: Private Equity and the Resolution of Financial Distress
Forthcoming Paper
“Corporate Transactions in Hard-to-Value Stocks” by Itzhak Ben-David, Byungwook Kim, Hala Moussawi, and Darren Roulstone
Ralph Koijen Awarded The Germán Bernácer Prize
RFS Editor Ralph Koijen is the recipient of the 20th edition of the Germán Bernácer Prize. The prize is awarded annually to “European economists no older than 40 years old who have made outstanding contributions in the fields of macroeconomics and finance.”
Associate Chair for SFS Cavalcade North America 2022
We’re happy to announce that the Associate Chair for SFS Cavalcade North America 2022 will be Jules van Binsbergen (The Wharton School, University of Pennsylvania). Professor van Binsbergen joins Chair Andrea Eisfeldt (UCLA) and Vice Chair Victoria Ivashina (Harvard Business School).
Forthcoming Papers
“Sharing R&D Risk in Healthcare via FDA Hedges” by Adam Jorring, Andrew Lo, Tomas J. Philipson, Manita Singh, and Richard T. Thakor “Information asymmetry, financial intermediation, and wealth effects of project finance loans” by Andrew Ferguson and Peter Lam
Texas Finance Festival 2021
If you submitted a dual submission to RFS with the Texas Finance Festival 2021, you can expect to receive the dual submission decision in mid-October.
Paper Spotlight: The Effect of Taxation on Corporate Financing and Investment
Despite the large theoretical literature that asserts the importance of taxes on corporate investment and financing decisions, the empirical literature often fails to demonstrate the effects of taxes in a convincing way. One reason for the discrepancy could be measurement error in variables. In “The Effect of Taxation on Corporate Financing and Investment,” Hong Chen and Murray Z. Frank take issue with the theoretical predictions themselves. They construct a model… Read More »Paper Spotlight: The Effect of Taxation on Corporate Financing and Investment
Forthcoming Paper
“P2P Lenders versus Banks: Cream Skimming or Bottom Fishing?” by Calebe DeRoure, Loriana Pelizzon, and Anjan V. Thakor