The Term Securities Lending Facility (TSLF) lent $2.3 trillion worth of general collateral to 18 investment houses in exchange for riskier securities. Treasury collateral was in high demand in 2008 and 2009 as repo markets shunned lower quality collateral. This paper finds a negative and...

Purpose – The purpose of this paper is to solve the optimal managerial compensation problem when shareholders are either naïvely optimistic or rational. Design/methodology/approach –The paper uses applied game theory to derive the optimal CEO compensation package with over optimistic...

This paper studies the factors that were associated with a bank's early exit from the Troubled Asset Relief Program (TARP) in 2009. Executive pay restrictions were often a rationale cited for early TARP exit, and high levels of CEO pay in 2008 were associated with banks being significantly more...

Preferential Attachment (PA) models the scientific citation process. In the PA model, a new paper attaches itself to the citation network based only on the popularity of the currently existing papers. This invariably leads to a network whose degree distribution satisfies the Power Law. Yet,...

Community structure is an important feature in many real-world networks, which can help us understand structure and function in complex networks better. In recent years, there have been many algorithms proposed to detect community structure in complex networks. In this paper, we try to detect...

This paper studies the impact of female executives on the performance and risk taking of US banks. With a sample of US banks from 2002 to 2010, we find that the inclusion of female executives increases bank performance after addressing endogeneity and reverse causality issues. We also provide...

Purpose – This paper seeks to evaluate the cost of repriceable options, and to investigate whether repriceable employee stock options (ESOs) cost more than standard ESOs in providing incentives to employees. Design/methodology/approach – This paper develops an intensity-based model,...

Do entrepreneurs work less or harder when they borrow more? This article tests how entrepreneurial effort is affected by the firm's financing choice. In line with the typical agency theory prediction, entrepreneurial effort is negatively related to the magnitude of the equity financing....