Results 1 to 10 of about 82,418 (46)
European Financial Management, 2023 This study documents corporate culture at the time of IPO and the relationship between corporate culture at the time of IPO and firm financial performance.
Douglas J. Cumming +3 more
semanticscholar +1 more source
Explainable models of credit losses
European Journal of Operational Research, 2021 Credit risk management is an area where regulators expect banks to have transparent and auditable risk models, which would preclude the use of more accurate black-box models.
João A. Bastos, Sara Matos
semanticscholar +1 more source
Speed for Safety: The Establishment of Bankruptcy Courts and Bank Credit Risk in China
Journal of Applied Finance & Banking, 2023 We investigate the effect of bankruptcy court establishment on the credit risk of municipal commercial banks in China from 2013 to 2020. Establishing bankruptcy courts reduces the non-performing loan ratio of municipal commercial banks.
Yue Zhang
semanticscholar +1 more source
Strategic default in financial networks
Games Econ. Behav., 2023 This paper investigates a model of strategic interactions in financial networks, where the decision by one agent on whether or not to default impacts the incentives of other agents to escape default.
N. Allouch, M. Jalloul, Alfred Duncan
semanticscholar +1 more source
Debt dynamics with fixed issuance costs
Journal of Financial Economics, 2022 We investigate equilibrium debt dynamics for a firm that cannot commit to a future debt policy and is subject to a fixed restructuring cost. We formally characterize equilibria when the firm is not required to repurchase outstanding debt prior to issuing
Luca Benzoni +3 more
semanticscholar +1 more source
Connected Lending of Last Resort
Social Science Research Network, 2023 Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand-collected historical daily dataset on loans to commercial banks, we analyze how personal connections matter for lending of last resort ...
K. Mitchener, E. Monnet
semanticscholar +1 more source
An Examination of the Terminal Year in an Auditor-Client Relationship
Accounting Horizons, 2023 We examine the cost and consequences of switching auditors. Specifically, we consider several client costs (audit fees, going-concern opinions, and internal control opinions) in the last year of an audit engagement (“terminal year”).
Jagadison K. Aier +3 more
semanticscholar +1 more source
Employee Costs of Corporate Bankruptcy
Social Science Research Network, 2019 An employee’s annual earnings fall by 10% the year her firm files for bankruptcy and fall by a present value of 67% over seven years. This effect is more pronounced in thin labor markets and among small firms that are ultimately liquidated.
John R. Graham +3 more
semanticscholar +1 more source
Bankruptcy costs and the design of preventive restructuring procedures
Journal of Economic Behavior & Organization, 2022 This paper measures the indirect costs of public Court-supervised bankruptcy filings in France. Due to self-fulfilling expectations, these indirect costs are likely all the more serious when the track-record of the bankruptcy procedure is poor.
A. Epaulard, Chloé Zapha
semanticscholar +1 more source
Bank Runs, Fragility, and Credit Easing
Social Science Research Network, 2021 We present a tractable dynamic general equilibrium model of self-fulfilling bank runs, where banks trade capital in competitive and liquid markets but remain vulnerable to runs due to a loss of creditor confidence.
M. Amador, Javier Bianchi
semanticscholar +1 more source