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We use the Clayton Antitrust Act of 1914 to study the effect of bankers on corporate boards in facilitating access to external finance. In the early twentieth century, securities underwriters commonly held directorships with American corporations; this was especially true for railroads, which...
Persistent link: https://www.econbiz.de/10012458121
We analyze the effects of ownership of liberty bonds, which were marketed to households during World War I, on election outcomes in the 1920s. In order to address the endogeneity of liberty bond subscriptions, we utilize the local severity of the fall 1918 influenza epidemic, which disrupted the...
Persistent link: https://www.econbiz.de/10012453001
The Liberty Bond drives of World War I were nation-wide interventions aimed at increasing financial literacy and associating bond ownership with patriotism. Using data from the first year of the Survey of Consumer Finances, 1947, through 1971, we investigate whether exposure to the drives shaped...
Persistent link: https://www.econbiz.de/10015361417
We analyze the effects of ownership of liberty bonds, which were marketed to households during World War I, on election outcomes in the 1920s. In order to address the endogeneity of liberty bond subscriptions, we utilize the local severity of the fall 1918 influenza epidemic, which disrupted the...
Persistent link: https://www.econbiz.de/10012916615
Persistent link: https://www.econbiz.de/10010423411
Persistent link: https://www.econbiz.de/10011889143
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Persistent link: https://www.econbiz.de/10012307719
We use the Clayton Antitrust Act of 1914 to study the effect of bankers on corporate boards in facilitating access to external finance. In the early twentieth century, securities underwriters commonly held directorships with American corporations; this was especially true for railroads, which...
Persistent link: https://www.econbiz.de/10013046169
Persistent link: https://www.econbiz.de/10001481180