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Regulatory Exploitation and the Market for Corporate Controls

Dafny, Leemore - 2006

This paper investigates whether managers who fail to exploit regulatory loopholes are vulnerable to replacement. We use the U.S. hospital industry in 1985-1996 as a case study. A 1988 change in Medicare rules widened a pre-existing loophole in the Medicare payment system, presenting hospitals...

Persistent link: https://www.econbiz.de/10012466226

Investing in Bank Lending Technology : IT Spending in Banking

He, Zhiguo; Jiang, Sheila; Xu, Douglas; Yin, Xiao - National Bureau of Economic Research - 2022

This paper studies the economics behind the investment in information technologies (IT) by U.S. commercial banks in the past decade. By linking banks' IT spending to their lending technologies, we analyze the distinctive natures of banks' dealings with information across various lending...

Persistent link: https://www.econbiz.de/10013362057

Economics and Reality

Uhlig, Harald - 2010

This paper is a non-technical and somewhat philosophical essay, that seeks to investigate the relationship between economics and reality. More precisely, it asks how reality in the form empirical evidence does or does not influence economic thinking and theory. In particular, which role do...

Persistent link: https://www.econbiz.de/10012462240

Governance, Risk Management, and Risk-Taking in Banks

Stulz, René M. - 2014

This paper examines how governance and risk management affect risk-taking in banks. It distinguishes between good risks …

Persistent link: https://www.econbiz.de/10011955539

Corporate Governance and Risk Management at Unprotected Banks : National Banks in the 1890s

Calomiris, Charles W. - 2014

risks that benefit themselves at the expense of depositors. Banks must design contracting and governance structures that …. We use national banks' Examination Reports to link differences in managerial ownership to different corporate governance … policies, risk, and methods of risk management. Formal corporate governance is lower when manager ownership shares are higher …

Persistent link: https://www.econbiz.de/10012458857

Fiduciary Duties and Equity-Debtholder Conflicts

Becker, Bo - 2011

We use an important legal event as a natural experiment to examine the effect of management fiduciary duties on equity-debt conflicts. A 1991 Delaware bankruptcy ruling changed the nature of corporate directors' fiduciary duties in firms incorporated in that state. This change limited managers'...

Persistent link: https://www.econbiz.de/10012460996

ICT, R&D and Organizational Innovation : Exploring Complementarities in Investment and Production

Mohnen, Pierre - 2018

This paper examines whether there are complementarities between investments in ICT, R&D and organizational innovation, and the effects of different investment profiles on total factor productivity growth on Dutch firm-level data. We estimate an integrated model of investment profile adoption and...

Persistent link: https://www.econbiz.de/10012480697

Creative Destruction and Firm-Specific Performance Heterogeneity

Chun, Hyunbae - 2007

Traditional U.S. industries with higher firm-specific stock return and fundamentals performance heterogeneity use information technology (IT) more intensively and post faster productivity growth in the late 20th century. We argue that elevated firm performance heterogeneity mechanically reflects...

Persistent link: https://www.econbiz.de/10012465644

Management as a Technology?

Bloom, Nicholas - 2016

Are some management practices akin to a technology that can explain firm and national productivity, or do they simply reflect contingent management styles? We collect data on core management practices from over 11,000 firms in 34 countries. We find large cross-country differences in the adoption...

Persistent link: https://www.econbiz.de/10012456349

Intracompany Governance and Innovation

Belenzon, Sharon - 2009

This paper examines the relation between ownership, corporate form, and innovation for a cross-section of private and publicly traded innovating firms in the US and 15 European countries. A striking novel observation emerges from our analysis: while most innovating firms in the US are publicly...

Persistent link: https://www.econbiz.de/10012463346

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