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Fighting for the best, losing with the rest : the perils of competition in entrepreneurial finance

Hernández, Juan; Wills, Daniel - 2024

giving more to all entrepreneurs. In equilibrium, competition for the best entrepreneurs forces intermediaries to offer …. Competition among financial intermediaries always forces them to fund projects with negative expected returns both from a private … scale. The three main features of our framework (competition, adverse selection, and limited liability) are necessary to get …

Persistent link: https://www.econbiz.de/10014537358

Competition and innovation in markets with technology leaders

Tsao, Ku-Chu; Mukherjee, Arijit; Ray, Achintya - In: Games 13 (2022) 1, pp. 1-20

competition and aggregate innovation. We consider a two-stage game with a deterministic Research and Development (R&D) process … outputs simultaneously. We show that the inverted-U relationship between competition and aggregate innovation occurs if … competition is affected by the number of technology followers. However, the presence of more technology leaders decreases …

Persistent link: https://www.econbiz.de/10013171861

Analysis of the behavior of insider traders who disclose information to external traders

Cao, Xingxing; Wang, Jing; Yang, Zhi - In: International Journal of Financial Studies : open … 13 (2025) 2, pp. 1-19

This paper establishes an insider trading model under market supervision, which includes four types of trading entities: an insider trader, n external traders, noise traders, and market makers. The insider trader voluntarily discloses information to the external traders during the trading...

Persistent link: https://www.econbiz.de/10015433911

Informational switching costs, bank competition and the cost of finance

Ornelas, José Renato Haas; Silva, Marcos Soares da; … - 2020

This paper studies the links between competition in the lending market and spreads of bank loans in Brazil. Evidence …

Persistent link: https://www.econbiz.de/10012256418

An examination of numerical portability in mobile communication in Uruguay

Gandelman, Néstor; Roldán, Flavia; Viera, Sofía - 2025

potentially enhancing competition. Our analysis reveals that firms responded by increasing the share of postpaid contracts …

Persistent link: https://www.econbiz.de/10015193810

Innovation efficiency and firm competition

Liang, Jue; Liu, Lin; Wang, X. Henry - In: Journal of economy and technology 1 (2023), pp. 16-28

firm will choose to reduce product diversity which intensifies price competition. We have also examined the role of …

Persistent link: https://www.econbiz.de/10014555500

Short-sale constraints and stock returns : a systematic review

Khan, Mostafa Saidur Rahim - In: Journal of capital markets studies 8 (2024) 1, pp. 43-66

Purpose This study delves into the nuanced implications of short-sale constraints on stock prices within the context of stock market efficiency. While existing research has explored this relationship, inconsistencies persist in their findings. The purpose of this study is to conduct a...

Persistent link: https://www.econbiz.de/10015047535

Short selling and trade credit : new evidence

Xiang, Xin; He, Xu - In: Borsa Istanbul Review 24 (2024) 1, pp. 61-72

This study investigates the effect of short sales on firms' use of trade credit. Using a sample of 3262 Chinese listed firms from 2007 to 2019, the analysis results show that both the deregulation and the magnitude of short sales negatively affect trade credit. The transmission mechanism...

Persistent link: https://www.econbiz.de/10014494679

Does option trading affect idiosyncratic momentum?

Guo, Songchan; Pyo, Unyong - In: Cogent economics & finance 8 (2020) 1, pp. 1-19

Portfolios in idiosyncratic momentum are formed on past residuals of the Fama-French three factor model rather than past total returns. This study examines whether the idiosyncratic momentum strategy can sustain excess returns following the emergence of traded options. We compare idiosyncratic...

Persistent link: https://www.econbiz.de/10013179587

Crowdfunding in a competitive environment

Miglo, Anton - In: Journal of risk and financial management : JRFM 13 (2020) 3/39, pp. 1-38

) Competition increases the chances of using crowdfunding compared to the monopoly case; (5) A non-monotonic relationship exists …

Persistent link: https://www.econbiz.de/10012174171