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The Effect of Banking Deregulation on Borrowing Firms' Risk‐Taking Incentives*†
16 references·0 citing·44 second hop
The Effect of Banking Deregulation on Borrowing Firms' Risk‐Taking Incentives*† (2022)The Effect of Banking Deregulation on Bor…Technological Innovation, Resource Allocation, and Growth* (2017)Technological Innovation, Res…Financial development and innovation: Cross-country evidence (2013)Financial development and inn…The Financing of R&D and Innovation (2010)The Financing of R&D and Inno…New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)New Evidence on Measuring Fin…Distance and Private Information in Lending (2010)Distance and Private Informat…Accounting Quality and Debt Contracting (2008)Accounting Quality and Debt C…Managerial incentives and risk-taking☆ (2005)Managerial incentives and ris…Enjoying the Quiet Life? Corporate Governance and Managerial Preferences (2003)Enjoying the Quiet Life? Corp…Estimating the Value of Employee Stock Option Portfolios and Their Sensitivities to Price and Volatility (2002)Estimating the Value of Emplo…Entrepreneurship and Bank Credit Availability (2002)Entrepreneurship and Bank Cre…The sensitivity of CEO wealth to equity risk: an analysis of the magnitude and determinants (1999)The sensitivity of CEO wealth…Do corporations award CEO stock options effectively? (1995)Do corporations award CEO sto…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…The Pricing of Options and Corporate Liabilities (1973)The Pricing of Options and Co…An Intertemporal Capital Asset Pricing Model (1973)An Intertemporal Capital Asse…FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY (1968)FINANCIAL RATIOS, DISCRIMINAN…Financing Constraints and Corporate Investment (1988)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)The determinants and implications of corporate cash holdings (1999)Corporate social responsibility and access to finance (2013)The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research (2016)Demand for green finance: Resolving financing constraints on green innovation in China (2021)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)A Closed-Form Solution for Options with Stochastic Volatility with Applications to Bond and Currency Options (1993)Theory of rational option pricing (2005)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Conditional Heteroskedasticity in Asset Returns: A New Approach (1991)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)Tobin's q, Corporate Diversification, and Firm Performance (1994)Diversification's effect on firm value (1995)A Survey of Corporate Governance (1997)CEO Overconfidence and Corporate Investment (2005)What Matters in Corporate Governance? (2008)Does the stock market fully value intangibles? Employee satisfaction and equity prices (2011)The Nature of the Firm (1937)Separation of Ownership and Control (1983)Law and Finance (1998)Corporate financing and investment decisions when firms have information that investors do not have (1984)Endogenous Technological Change (1989)Endogenous Technological Change (1990)Are Ideas Getting Harder to Find? (2020)Artificial intelligence, firm growth, and product innovation (2023)Firm‐Level Climate Change Exposure (2023)Investigating Causal Relations by Econometric Models and Cross-spectral Methods (1969)Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations (1991)Another look at the instrumental variable estimation of error-components models (1995)Does banking competition affect innovation? (2014)Can the green credit policy stimulate green innovation in heavily polluting enterprises? Evidence from a quasi-natural experiment in China (2021)Digital finance, green technological innovation and energy-environmental performance: Evidence from China's regional economies (2021)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Mission-oriented innovation policies: challenges and opportunities (2018)Boards: Does one size fit all☆ (2007)Are Overconfident CEOs Better Innovators? (2012)Corporate Immunity to the COVID-19 Pandemic (2020)Financial Ratios and the Probabilistic Prediction of Bankruptcy (1980)How does financial reporting quality relate to investment efficiency? (2009)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1973The Pricing of Options and Corporate Liabilities29,064 cited
  • 1968FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY14,869 cited
  • 1973An Intertemporal Capital Asset Pricing Model6,557 cited
  • 2010New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index5,574 cited
  • 2003Enjoying the Quiet Life? Corporate Governance and Managerial Preferences3,773 cited
  • 2005Managerial incentives and risk-taking☆2,924 cited
  • 2017Technological Innovation, Resource Allocation, and Growth*2,445 cited
  • 2010The Financing of R&D and Innovation1,728 cited
  • 2013Financial development and innovation: Cross-country evidence1,709 cited
  • 2002Estimating the Value of Employee Stock Option Portfolios and Their Sensitivities to Price and Volatility1,697 cited
  • 1999The sensitivity of CEO wealth to equity risk: an analysis of the magnitude and determinants1,391 cited
  • 2010Distance and Private Information in Lending1,314 cited
  • 2008Accounting Quality and Debt Contracting1,296 cited
  • 2002Entrepreneurship and Bank Credit Availability

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  • 1995Do corporations award CEO stock options effectively?1,128 cited
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