Results 21 to 30 of about 82,348 (45)

The Impact of Regulation on Firm Value: Evidence from Political Connections

The Review of Corporate Finance Studies
We examine the relationship between regulatory intensity and firm value. We find that firms facing high regulatory intensity exhibit lower valuations. However, it is the reverse for politically connected firms.
Alan D. Crane, Andrew Koch
semanticscholar   +1 more source

Effects of Credit Expansions on Stock Market Booms and Busts

The Review of financial studies
There is causal evidence that mortgage credit expansions increase house prices. Does an expansion of margin lending increase stock prices? Because unconstrained arbitrageurs are more important for pricing stocks than homes, the impact is not obvious ...
Christopher Hansman, Harrison G. Hong, Wenxi Jiang, Yu-Jane Liu, Juanjuan Meng   +4 more
semanticscholar   +1 more source

The Economic Consequences and Underlying Mechanisms of Implementing Common Accounting Standards

Accounting Horizons
We empirically examine the channels through which the implementation of common accounting standards affects liquidity. Theory suggests two channels through which adopting a common standard can affect liquidity: the precision channel and the network ...
P. Ferreira, Xu Jiang
semanticscholar   +1 more source

An Equilibrium Model of Imperfect Hedging: Transaction Costs, Heterogeneity in Risk Aversion, and Return Volatility

The Review of financial studies
Financial transaction taxes, or generally transaction costs, are salient in derivatives markets and seldom studied in equilibrium models. We study a tractable model with proportional transaction costs where agents trade a derivative with nonlinear ...
Mark Loewenstein, Zhenjiang Qin
semanticscholar   +1 more source

Conflicted Regulators: Indirect Revolving-Door Connections in SEC Filing Reviews

Accounting Review
We investigate whether prior employment connections influence the strictness of the Securities and Exchange Commission (SEC) filing review process.
M. Kubic, Rui Silva, Sara Toynbee
semanticscholar   +1 more source

Wearing out the Watchdog: The Impact of SEC Case Backlog on the Formal Investigation Process

Accounting Review, 2023
We examine a comprehensive set of investigations by the SEC’s Division of Enforcement offices to provide evidence on the consequences of these office’s busyness on the formal investigation process.
Samuel B. Bonsall, Eric R. Holzman, Brian P. Miller   +2 more
semanticscholar   +1 more source

Role of RBI in Foreign Exchange Management

Prajnan: Journal of Banking and Financial Management
The role of the Reserve Bank of India (RBI) in foreign exchange management has changed since independence. From strict control of foreign exchange resources before the balance of payments crisis of 1991, it moved to a more liberalized exchange rate ...
Radha Shyam Ratho, Saurabh Gupta, Sabyasachi Sarangi   +2 more
semanticscholar   +1 more source

Long-term Investors, Demand Shifts, and Yields

Social Science Research Network
I exploit a Dutch reform in the regulatory discount curve that makes the liabilities of pension funds and insurance companies (P&Is) more sensitive to changes in 20-year interest rates but less so to longer maturity rates.
Kristy A.E. Jansen
semanticscholar   +1 more source

Fractional Trading

The Review of financial studies
Fractional trading (FT)—the ability to trade less than a whole share—removes barriers to high-priced stocks and facilitates entry by capital-constrained retail investors.
Zhi Da, Vivian W. Fang, Wenwei Lin
semanticscholar   +1 more source

Dynamic Market Making with Asymmetric Information and Market Power

The Review of financial studies
We study the dynamics of trading volume and bid-ask spread using a multiperiod trading model with oligopolistic market makers. Traders smooth out their trading even though they are not strategic, and thus trading persists after the arrival of ...
Chen Wen, Wang Yajun
semanticscholar   +1 more source