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Martin Schmalz

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Azar, José & Schmalz, Martin & Tecu, Isabel, 2017. "Anti-Competitive Effects of Common Ownership," IESE Research Papers D/1169, IESE Business School.

    Mentioned in:

    1. Mutual Funds, "Common Ownership" and Ownership Concentration
      by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2018-08-27 12:24:37

Working papers

  1. Martin C. Schmalz, 2018. "Common-Ownership Concentration and Corporate Conduct," CESifo Working Paper Series 6908, CESifo.

    Cited by:

    1. Emmanuel Petrakis & Panagiotis Skartados, 2022. "Vertical Opportunism, Bargaining, and Share-Based Agreements," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 60(4), pages 549-565, June.
    2. Vasconcelos, Helder & Brito, Duarte & Ribeiro, Ricardo, 2013. "Quantifying the Coordinated Effects of Partial Horizontal Acquisitions," CEPR Discussion Papers 9536, C.E.P.R. Discussion Papers.
    3. Germán Gutiérrez & Thomas Philippon, 2016. "Investment-less Growth: An Empirical Investigation," NBER Working Papers 22897, National Bureau of Economic Research, Inc.
    4. Melisa Newham & Jo Seldeslachts & Albert Banal-Estañol, 2018. "Common ownership and market entry: Evidence from the pharmaceutical industry," Economics Working Papers 1612, Department of Economics and Business, Universitat Pompeu Fabra.
    5. Werner Neus & Manfred Stadler & Maximiliane Unsorg, 2020. "Market structure, common ownership, and coordinated manager compensation," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 41(7), pages 1262-1268, October.
    6. Albert Banal-Estañol & Jo Seldeslachts & Xavier Vives, 2022. "Ownership Diversification and Product Market Pricing Incentives," Working Papers 1371, Barcelona School of Economics.
    7. Duarte Brito & Ricardo Ribeiro & Helder Vasconcelos, 2019. "Overlapping Ownership, Endogenous Quality,and Welfare," Working Papers de Economia (Economics Working Papers) 05, Católica Porto Business School, Universidade Católica Portuguesa.
    8. Miguel Anton & Florian Ederer & Mireia Gine & Martin Schmalz, 2016. "Common Ownership, Competition, and Top Management Incentives," Cowles Foundation Discussion Papers 2046, Cowles Foundation for Research in Economics, Yale University.
    9. Sato, Susumu & Matsumura, Toshihiro, 2019. "Free Entry under Common Ownership," MPRA Paper 97525, University Library of Munich, Germany.
    10. Nuowen Bai & Toshihiro Matsumura, 2023. "Common ownership in a delivered pricing duopoly," Journal of Economics, Springer, vol. 139(3), pages 191-208, August.
    11. Antonio Estache & Christophe Kieffer, 2021. "Does Common Ownership Influence the Financial Strategy of the French Pharmaceutical Firms?," Working Papers ECARES 2021-09, ULB -- Universite Libre de Bruxelles.
    12. Lysle Boller & Fiona Scott Morton, 2020. "Testing the Theory of Common Stock Ownership," NBER Working Papers 27515, National Bureau of Economic Research, Inc.
    13. Lundin, Erik, 2016. "Market Power and Joint Ownership: Evidence from Nuclear Plants in Sweden," Working Paper Series 1113, Research Institute of Industrial Economics, revised 04 Nov 2019.
    14. Hariskos, W. & Königstein, M. & Papadopoulos, K.G., 2022. "Anti-competitive effects of partial cross-ownership: Experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 193(C), pages 399-409.
    15. Dasgupta, Amil & Fos, Vyacheslav & Sautner, Zacharias, 2021. "Institutional investors and corporate governance," LSE Research Online Documents on Economics 112114, London School of Economics and Political Science, LSE Library.
    16. Koptyug, Nikita & Persson, Lars & Tåg, Joacim, 2019. "Should We Worry about the Decline of the Public Corporation? A Brief Survey of the Economics and External Effects of the Stock Market," Working Paper Series 1298, Research Institute of Industrial Economics.
    17. Xiaohui Wu & Yumin Li & Chong Feng, 2023. "Green innovation peer effects in common institutional ownership networks," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(2), pages 641-660, March.
    18. José Azar & Sahil Raina & Martin Schmalz, 2022. "Ultimate ownership and bank competition," Financial Management, Financial Management Association International, vol. 51(1), pages 227-269, March.
    19. Faccio, Mara & Morck, Randall & Deniz Yavuz, M., 2021. "Business groups and the incorporation of firm-specific shocks into stock prices," Journal of Financial Economics, Elsevier, vol. 139(3), pages 852-871.
    20. Chen, Shenglan & Ma, Hui & Wu, Qiang & Zhang, Hao, 2023. "Does common ownership constrain managerial rent extraction? Evidence from insider trading profitability," Journal of Corporate Finance, Elsevier, vol. 80(C).
    21. Hirose, Kosuke & Matsumura, Toshihiro, 2021. "Common Ownership and Environmental Corporate Social Responsibility," MPRA Paper 111120, University Library of Munich, Germany.
    22. Mariola Sánchez & José Antonio Belso‐Martínez & María José López‐Sánchez & Adrián Nerja, 2022. "Incentives to exclusive and non‐exclusive technology licensing under partial vertical integration," Manchester School, University of Manchester, vol. 90(2), pages 171-189, March.
    23. Samuel Haas & Johannes Paha, 2021. "Non-Controlling Minority Shareholdings and Collusion," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 58(3), pages 431-454, May.
    24. Kristopher Gerardi & Michelle Lowry & Carola Schenone, 2023. "A Critical Review of the Common Ownership Literature," FRB Atlanta Working Paper 2023-17, Federal Reserve Bank of Atlanta.
    25. Hennig, Jan C. & Oehmichen, Jana & Steinberg, Philip J. & Heigermoser, Judith, 2022. "Determinants of common ownership: Exploring an information-based and a competition-based perspective in a global context," Journal of Business Research, Elsevier, vol. 144(C), pages 690-702.
    26. Hirose, Kosuke & Matsumura, Toshihiro, 2023. "Green transformation in oligopoly markets under common ownership," Energy Economics, Elsevier, vol. 126(C).
    27. Ruichang Lu & Qiaowei Shen & Tenghui Wang & Xiaojun Zhang, 2022. "Frenemies: Corporate Advertising Under Common Ownership," Management Science, INFORMS, vol. 68(6), pages 4645-4669, June.
    28. Santhosh Ramalingegowda & Steven Utke & Yong Yu, 2021. "Common Institutional Ownership and Earnings Management," Contemporary Accounting Research, John Wiley & Sons, vol. 38(1), pages 208-241, March.
    29. Bayona, Anna & López, Ángel L. & Manganelli, Anton-Giulio, 2022. "Common ownership, corporate control and price competition," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 1066-1075.
    30. Villalonga, Belén, 2019. "Demsetz and Villalonga (2001) on ownership structure and corporate performance: Looking back and looking forward," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 64-67.
    31. Francesco Pasimeni, 2020. "The Origin of the Sharing Economy Meets the Legacy of Fractional Ownership," SPRU Working Paper Series 2020-19, SPRU - Science Policy Research Unit, University of Sussex Business School.
    32. Ramzi Benkraiem & Taher Hamza & Faten Lakhal & Hamza Nizar, 2022. "Family control, institutional cross holding and corporate social responsibility," Economics Bulletin, AccessEcon, vol. 42(4), pages 2231-2247.
    33. Hutschenreiter, Dennis, 2023. "Common Ownership and the Market for Technology," VfS Annual Conference 2023 (Regensburg): Growth and the "sociale Frage" 277640, Verein für Socialpolitik / German Economic Association.
    34. Hervé Crès & Mich Tvede, 2023. "Corporate self-regulation of imperfect competition," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(4), pages 1181-1205, May.
    35. Andrea Pawliczek & A. Nicole Skinner & Sarah L. C. Zechman, 2022. "Facilitating Tacit Collusion Through Voluntary Disclosure: Evidence from Common Ownership," Journal of Accounting Research, Wiley Blackwell, vol. 60(5), pages 1651-1693, December.
    36. Hedy Jiaying Huang & Ahsan Habib & Sophia Li Sun & Ying Liu & Huiting Guo, 2021. "Financial reporting and corporate innovation: a review of the international literature," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(4), pages 5439-5499, December.
    37. Giuseppe Orlando & Edward Bace, 2021. "Challenging Times for Insurance, Banking and Financial Supervision in Saudi Arabia (KSA)," Administrative Sciences, MDPI, vol. 11(3), pages 1-28, June.
    38. Cheng, Xin & (Helen) Wang, He & Wang, Xianjue, 2022. "Common institutional ownership and corporate social responsibility," Journal of Banking & Finance, Elsevier, vol. 136(C).
    39. Koch, Andrew & Panayides, Marios & Thomas, Shawn, 2021. "Common ownership and competition in product markets," Journal of Financial Economics, Elsevier, vol. 139(1), pages 109-137.
    40. Leonardos, Stefanos & Petrakis, Emmanuel & Skartados, Panagiotis & Stamatopoulos, Giorgos, 2021. "Partial passive ownership holdings and licensing," Economics Letters, Elsevier, vol. 204(C).
    41. Haraguchi, Junichi & Matsumura, Toshihiro, 2020. "Common Ownership among Private Firms and Privatization Policies," MPRA Paper 102152, University Library of Munich, Germany.
    42. Chuyuan Zhang & Sang‐Ho Lee, 2023. "Foreign passive ownership and tariff‐induced free technology transfer under vertical integration," Manchester School, University of Manchester, vol. 91(2), pages 89-117, March.
    43. Olga Chiappinelli & Konstantinos G. Papadopoulos & Dimitrios Xefteris, 2023. "Common Ownership Unpacked," UB School of Economics Working Papers 2023/448, University of Barcelona School of Economics.
    44. Oz Shy & Rune Stenbacka, 2020. "Common ownership, institutional investors, and welfare," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 29(3), pages 706-723, July.
    45. Cho, Sumi & Kim, Doori & Lee, Sang-Ho, 2022. "Free licensing strategy and ex-post privatization policy with passive ownership," Economic Modelling, Elsevier, vol. 106(C).
    46. Hunold, Matthias & Schlütter, Frank, 2019. "Vertical financial interest and corporate influence," DICE Discussion Papers 309, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    47. Coria, Jessica & Jaraitė, Jūratė, 2023. "Ownership structure and prices: A case study of the Swedish tradable green certificate market," Energy Policy, Elsevier, vol. 183(C).
    48. Benjamin Bennett & René M. Stulz & Zexi Wang, 2020. "Does Joining the S&P 500 Index Hurt Firms?," NBER Working Papers 27593, National Bureau of Economic Research, Inc.

  2. Joshua Gans & Andrew Leigh & Martin Schmalz & Adam Triggs, 2018. "Inequality and Market Concentration, When Shareholding is More Skewed than Consumption," NBER Working Papers 25395, National Bureau of Economic Research, Inc.

    Cited by:

    1. Steven C. Salop & Fiona Scott Morton, 2021. "The 2010 HMGs Ten Years Later: Where Do We Go From Here?," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 58(1), pages 81-101, February.
    2. Kopp, Thomas & Nabernegg, Markus, 2022. "Inequality and Environmental Impact – Can the Two Be Reduced Jointly?," Ecological Economics, Elsevier, vol. 201(C).
    3. Stephen Davies & Franco Mariuzzo, 2022. "Inequality and concentration: Are the poor more exposed to concentrated markets?," Working Paper series, University of East Anglia, Centre for Competition Policy (CCP) 2022-01, Centre for Competition Policy, University of East Anglia, Norwich, UK..
    4. Lachlan Hotchin & Andrew Leigh, 2024. "Inequality and Market Concentration: New Evidence from Australia," CESifo Working Paper Series 10942, CESifo.
    5. Ganglmair Bernhard & Kann Alexander & Tsanko Ilona, 2021. "Markups for Consumers," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 241(5-6), pages 701-734, November.
    6. Jasmine Mondolo, 2021. "Macroeconomic dynamics and the role of market power. The case of Italy," DEM Working Papers 2021/17, Department of Economics and Management.
    7. Assouad, Lydia, 2023. "Rethinking the Lebanese economic miracle: The extreme concentration of income and wealth in Lebanon, 2005–2014," Journal of Development Economics, Elsevier, vol. 161(C).
    8. Leigh, Andrew & Triggs, Adam, 2021. "Common Ownership of Competing Firms: Evidence from Australia," IZA Discussion Papers 14287, Institute of Labor Economics (IZA).
    9. Pedro Cavalcanti Gonçalves Ferreira, 2021. "Market Power and Inequality: a model of the Brazilian economy," Working Papers REM 2021/0201, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    10. Christian Reiner & Christian Bellak, 2023. "Hat die ökonomische Macht von Unternehmen in Österreich zugenommen? Teil 1," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 49(1), pages 21-59.
    11. Andrew Leigh, 2023. "How uncompetitive markets hurt workers," Australian Journal of Labour Economics (AJLE), Bankwest Curtin Economics Centre (BCEC), Curtin Business School, vol. 26(1), pages 1-21.
    12. Pengyu Chen & Yuanyuan Hao, 2022. "Digital transformation and corporate environmental performance: The moderating role of board characteristics," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1757-1767, September.
    13. Mondolo, Jasmine, 2021. "Macroeconomic dynamics and the role of market power. The case of Italy," MPRA Paper 110172, University Library of Munich, Germany, revised 05 Oct 2021.
    14. Han, Minsoo & Pyun, Ju Hyun, 2021. "Markups and income inequality: Causal links, 1975-2011," Journal of Comparative Economics, Elsevier, vol. 49(2), pages 290-312.

  3. Schmalz, Martin, 2018. "Unionization, Cash, and Leverage," CEPR Discussion Papers 12595, C.E.P.R. Discussion Papers.

    Cited by:

    1. Moro, Andrea & Maresch, Daniela & Ferrando, Annalisa & Udell, Gregory F., 2017. "Does employment protection legislation affect credit access? Evidence from Europe," Working Paper Series 2063, European Central Bank.
    2. Pezone, Vincenzo, 2017. "Unemployment Risk and Payout Policies," MPRA Paper 83918, University Library of Munich, Germany.
    3. Murillo Campello & Janet Gao & Jiaping Qiu & Yue Zhang, 2017. "Bankruptcy and the Cost of Organized Labor: Evidence from Union Elections," NBER Working Papers 23869, National Bureau of Economic Research, Inc.

  4. Juan M. Ortner & Martin C. Schmalz, 2018. "Disagreement and Optimal Security Design," CESifo Working Paper Series 6906, CESifo.

    Cited by:

    1. Huang, Sheng & Maharjan, Johan & Thakor, Anjan V., 2020. "Disagreement-induced CEO turnover," Journal of Financial Intermediation, Elsevier, vol. 43(C).

  5. Martin C. Schmalz & Sergey Zhuk, 2018. "Revealing Downturns," CESifo Working Paper Series 6879, CESifo.

    Cited by:

    1. Kuzmina, Olga, 2020. "A model-free identification of relative risk," Economics Letters, Elsevier, vol. 190(C).
    2. Alexander Eisele & Tamara Nefedova & Gianpaolo Parise & Kim Peijnenburg, 2013. "Trading Out of Sight: An Analysis of Cross-Trading in Mutual Fund Families," Swiss Finance Institute Research Paper Series 13-19, Swiss Finance Institute.
    3. Zheng Sun & Ashley W. Wang & Lu Zheng, 2016. "Only Winners in Tough Times Repeat: Hedge Fund Performance Persistence over Different Market Conditions," Finance and Economics Discussion Series 2016-030, Board of Governors of the Federal Reserve System (U.S.).
    4. David Hirshleifer & Jinfei Sheng, 2021. "Macro News and Micro News: Complements or Substitutes?," NBER Working Papers 28931, National Bureau of Economic Research, Inc.
    5. Wang, Bo, 2022. "Ambiguity aversion and amplification of financial crisis," Journal of Banking & Finance, Elsevier, vol. 142(C).
    6. Gorovyy, Sergiy & Kelly, Patrick J. & Kuzmina, Olga, 2021. "Does secrecy signal skill? Own-investor secrecy and hedge fund performance," Journal of Banking & Finance, Elsevier, vol. 133(C).
    7. David A. Maslar & Matthew Serfling & Sarah Shaikh, 2021. "Economic Downturns and the Informativeness of Management Earnings Forecasts," Journal of Accounting Research, Wiley Blackwell, vol. 59(4), pages 1481-1520, September.

  6. Azar, José & Schmalz, Martin & Tecu, Isabel, 2017. "Anti-Competitive Effects of Common Ownership," IESE Research Papers D/1169, IESE Business School.

    Cited by:

    1. Germán Gutiérrez & Thomas Philippon, 2016. "Investment-less Growth: An Empirical Investigation," NBER Working Papers 22897, National Bureau of Economic Research, Inc.
    2. Melisa Newham & Jo Seldeslachts & Albert Banal-Estañol, 2018. "Common ownership and market entry: Evidence from the pharmaceutical industry," Economics Working Papers 1612, Department of Economics and Business, Universitat Pompeu Fabra.
    3. Miguel Anton & Florian Ederer & Mireia Gine & Martin Schmalz, 2016. "Common Ownership, Competition, and Top Management Incentives," Cowles Foundation Discussion Papers 2046, Cowles Foundation for Research in Economics, Yale University.
    4. Duarte Brito & António Osório & Ricardo Ribeiro & Hélder Vasconcelos, 2015. "Unilateral Effects Screens for Partial Horizontal Acquisitions: The Generalized HHI and GUPPI," Working Papers de Economia (Economics Working Papers) 02, Católica Porto Business School, Universidade Católica Portuguesa.
    5. Spiegel, Yossi & Heim, Sven & , & ,, 2018. "Minority share acquisitions and collusion: evidence from the introduction of national leniency programs," CEPR Discussion Papers 13327, C.E.P.R. Discussion Papers.
    6. Stephen Martin, 2018. "Behavioral antitrust," Chapters, in: Victor J. Tremblay & Elizabeth Schroeder & Carol Horton Tremblay (ed.), Handbook of Behavioral Industrial Organization, chapter 15, pages 404-454, Edward Elgar Publishing.
    7. Jennifer Clapp & S. Ryan Isakson, 2018. "Risky Returns: The Implications of Financialization in the Food System," Development and Change, International Institute of Social Studies, vol. 49(2), pages 437-460, March.
    8. Hackbarth, Dirk & Taub, Bart, 2018. "Does the Potential to Merge Reduce Competition?," CEPR Discussion Papers 12732, C.E.P.R. Discussion Papers.
    9. Brooks, Chris & Chen, Zhong & Zeng, Yeqin, 2018. "Institutional cross-ownership and corporate strategy: The case of mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 187-216.
    10. Savitar Sundaresan & Jaromir Nosal & Marcin Kacperczyk, 2017. "Market Power and Informational Efficiency," 2017 Meeting Papers 356, Society for Economic Dynamics.
    11. Itzhak Ben-David & Francesco Franzoni & Rabih Moussawi & John Sedunov, 2021. "The Granular Nature of Large Institutional Investors," Management Science, INFORMS, vol. 67(11), pages 6629-6659, November.
    12. Stadler, Manfred & Neus, Werner, 2018. "Cross Holdings and Strategic Manager Compensation. The Case of an Asymmetric Triopoly," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181534, Verein für Socialpolitik / German Economic Association.
    13. Ángel L. López & Xavier Vives, 2016. "Overlapping Ownership, R&D Spillovers, and Antitrust Policy," CESifo Working Paper Series 5935, CESifo.
    14. Erhan Bayraktar & Alexander Munk, 2017. "Mini-Flash Crashes, Model Risk, and Optimal Execution," Papers 1705.09827, arXiv.org, revised Aug 2018.
    15. Kang, Jun-Koo & Luo, Juan & Na, Hyun Seung, 2018. "Are institutional investors with multiple blockholdings effective monitors?," Journal of Financial Economics, Elsevier, vol. 128(3), pages 576-602.
    16. Neus, Werner & Stadler, Manfred, 2018. "Common holdings and strategic manager compensation: The case of an asymmetric triopoly," University of Tübingen Working Papers in Business and Economics 109, University of Tuebingen, Faculty of Economics and Social Sciences, School of Business and Economics.
    17. Nicolas Véron, 2017. "The governance and ownership of significant euro-area banks," Policy Briefs 20703, Bruegel.
    18. Nicolas Véron, 2017. "The governance and ownership of significant euro-area banks," Policy Contributions 20703, Bruegel.
    19. Bayona, Anna & López, Ángel L., 2018. "Silent financial interests and product innovation," Economics Letters, Elsevier, vol. 170(C), pages 109-112.
    20. Samuel Vika Mhlanga & Neil Andrew Rankin, 2021. "Fixed costs, markups and concentration in Eswatini (Swaziland): A firm‐level analysis of panel data," South African Journal of Economics, Economic Society of South Africa, vol. 89(3), pages 391-416, September.

  7. Igor Goncharov & Vasso Ioannidou & Martin C. Schmalz, 2017. "(Why) Do Central Banks Care About Their Profits?," CESifo Working Paper Series 6546, CESifo.

    Cited by:

    1. Michele Cavallo & Marco Del Negro & W. Scott Frame & Jamie Grasing & Benjamin A. Malin & Carlo Rosa, 2018. "Fiscal Implications of the Federal Reserve’s Balance Sheet Normalization," FEDS Notes 2017-01-09, Board of Governors of the Federal Reserve System (U.S.).
    2. Eichler, Stefan & Plaga, Timo, 2020. "The economic record of the government and sovereign bond and stock returns around national elections," Journal of Banking & Finance, Elsevier, vol. 118(C).
    3. Donato Masciandaro & Davide Romelli, 2019. "Behavioral Monetary Policymaking: Economics, Political Economy And Psychology," BAFFI CAREFIN Working Papers 19105, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    4. Jörg Bibow, 2018. "Unconventional monetary policies and central bank profits," IMK Studies 62-2018, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    5. D. Masciandaro, 2019. "What Bird Is That? Central Banking And Monetary Policy In The Last Forty Years," BAFFI CAREFIN Working Papers 19127, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    6. Goodhart, Charles, 2017. "A Central Bank’s Optimal Balance Sheet Size?," CEPR Discussion Papers 12272, C.E.P.R. Discussion Papers.
    7. Igor Ljubaj, 2020. "International Reserves, Exchange Rate Differences and the CNB’s Financial Result," Surveys 38, The Croatian National Bank, Croatia.
    8. Joerg Bibow, 2018. "Unconventional Monetary Policies and Central Bank Profits: Seigniorage as Fiscal Revenue in the Aftermath of the Global Financial Crisis," Economics Working Paper Archive wp_916, Levy Economics Institute.
    9. Daniel Murphy & Eric Young, 2020. "Government Debt Limits and Stabilization Policy," Working Papers 20-23, Federal Reserve Bank of Cleveland.
    10. Arto Kovanen, 2022. "Second Thoughts About Central Bank Digital Currencies," Applied Economics and Finance, Redfame publishing, vol. 9(1), pages 1-18, December.

  8. Miguel Antón & Florian Ederer & Mireia Giné & Martin C. Schmalz, 2016. "Common Ownership, Competition, and Top Management Incentives," CESifo Working Paper Series 6178, CESifo.

    Cited by:

    1. Vives, Xavier & Azar, José, 2018. "Oligopoly, Macroeconomic Performance, and Competition Policy," CEPR Discussion Papers 13000, C.E.P.R. Discussion Papers.
    2. Vasconcelos, Helder & Brito, Duarte & Ribeiro, Ricardo, 2013. "Quantifying the Coordinated Effects of Partial Horizontal Acquisitions," CEPR Discussion Papers 9536, C.E.P.R. Discussion Papers.
    3. Melisa Newham & Jo Seldeslachts & Albert Banal-Estañol, 2018. "Common ownership and market entry: Evidence from the pharmaceutical industry," Economics Working Papers 1612, Department of Economics and Business, Universitat Pompeu Fabra.
    4. Werner Neus & Manfred Stadler & Maximiliane Unsorg, 2020. "Market structure, common ownership, and coordinated manager compensation," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 41(7), pages 1262-1268, October.
    5. Jaspersen, Stefan, 2021. "Mutual Fund Bets on Market Power," CFR Working Papers 16-07, University of Cologne, Centre for Financial Research (CFR), revised 2021.
    6. Albert Banal-Estañol & Jo Seldeslachts & Xavier Vives, 2022. "Ownership Diversification and Product Market Pricing Incentives," Working Papers 1371, Barcelona School of Economics.
    7. Dai, Rui & Liang, Hao & Ng, Lilian, 2021. "Socially responsible corporate customers," Journal of Financial Economics, Elsevier, vol. 142(2), pages 598-626.
    8. Brito, Duarte & Elhauge, Einer & Ribeiro, Ricardo & Vasconcelos, Helder, 2023. "Modelling the objective function of managers in the presence of overlapping shareholding," International Journal of Industrial Organization, Elsevier, vol. 87(C).
    9. Ni, Xiaoran & Yin, David, 2023. "Is institutional common ownership commonly priced? Insights from the cost of equity capital," Journal of Banking & Finance, Elsevier, vol. 155(C).
    10. Lysle Boller & Fiona Scott Morton, 2020. "Testing the Theory of Common Stock Ownership," NBER Working Papers 27515, National Bureau of Economic Research, Inc.
    11. Zhu, Xuening & Wang, Weining & Wang, Hansheng & Härdle, Wolfgang Karl, 2019. "Network quantile autoregression," Journal of Econometrics, Elsevier, vol. 212(1), pages 345-358.
    12. Matthew Backus & Christopher Conlon & Michael Sinkinson, 2019. "Common Ownership in America: 1980-2017," NBER Working Papers 25454, National Bureau of Economic Research, Inc.
    13. Park, Jihwon & Sani, Jalal & Shroff, Nemit & White, Hal, 2019. "Disclosure incentives when competing firms have common ownership," Journal of Accounting and Economics, Elsevier, vol. 67(2), pages 387-415.
    14. Xiaohui Wu & Yumin Li & Chong Feng, 2023. "Green innovation peer effects in common institutional ownership networks," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(2), pages 641-660, March.
    15. Spagnolo, Giancarlo & Bloomfield, Matthew & Marvao, Catarina, 2020. "Relative Performance Evaluation, Sabotage and Collusion," CEPR Discussion Papers 15115, C.E.P.R. Discussion Papers.
    16. Xu, Tianli & Xu, Longbing & Zhu, Siyuan, 2023. "Common ownership and executive pay-for-performance sensitivity: Evidence from China," Research in International Business and Finance, Elsevier, vol. 65(C).
    17. José Azar & Sahil Raina & Martin Schmalz, 2022. "Ultimate ownership and bank competition," Financial Management, Financial Management Association International, vol. 51(1), pages 227-269, March.
    18. Füner, Lena & Berger, Marius & Bersch, Johannes & Hottenrott, Hanna, 2023. "Local networks and new business formation," ZEW Discussion Papers 23-067, ZEW - Leibniz Centre for European Economic Research.
    19. Healey, John & Mintz, Ofer, 2021. "What if your owners also own other firms in your industry? The relationship between institutional common ownership, marketing, and firm performance," International Journal of Research in Marketing, Elsevier, vol. 38(4), pages 838-856.
    20. Giuli, Alberta Di & Karmaziene, Egle & Sekerci, Naciye, 2021. "Common ownership and firm dividend policies," Finance Research Letters, Elsevier, vol. 40(C).
    21. Brito, Duarte & Ribeiro, Ricardo & Vasconcelos, Helder, 2019. "Can partial horizontal ownership lessen competition more than a monopoly?," Economics Letters, Elsevier, vol. 176(C), pages 90-95.
    22. Brooks, Chris & Chen, Zhong & Zeng, Yeqin, 2018. "Institutional cross-ownership and corporate strategy: The case of mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 187-216.
    23. Pittman, Russell, 2016. "The Strange Career of Independent Voting Trusts in U.S. Rail Mergers," MPRA Paper 72640, University Library of Munich, Germany.
    24. Ziwei Wang & Chunfeng Wang & Zhenming Fang, 2023. "Common institutional ownership and corporate misconduct," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(1), pages 102-136, January.
    25. Lewellen, Katharina & Lowry, Michelle, 2021. "Does common ownership really increase firm coordination?," Journal of Financial Economics, Elsevier, vol. 141(1), pages 322-344.
    26. Kristopher Gerardi & Michelle Lowry & Carola Schenone, 2023. "A Critical Review of the Common Ownership Literature," FRB Atlanta Working Paper 2023-17, Federal Reserve Bank of Atlanta.
    27. Liu, Huan & Hou, Canran, 2023. "The external effect of institutional cross-ownership on excessive managerial perks," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 483-501.
    28. Vives, Xavier & Azar, José, 2020. "General Equilibrium Oligopoly and Ownership Structure," CEPR Discussion Papers 15499, C.E.P.R. Discussion Papers.
    29. Santhosh Ramalingegowda & Steven Utke & Yong Yu, 2021. "Common Institutional Ownership and Earnings Management," Contemporary Accounting Research, John Wiley & Sons, vol. 38(1), pages 208-241, March.
    30. Miller, Steve & Qiu, Bin & Wang, Bin & Yang, Tina, 2022. "Monitoring institutional ownership and corporate innovation," Journal of Empirical Finance, Elsevier, vol. 69(C), pages 144-165.
    31. Gary Bolton & Axel Ockenfels & Peter Werner, 2016. "Leveraging social relationships and transparency in the insider game," Journal of the Economic Science Association, Springer;Economic Science Association, vol. 2(2), pages 127-143, November.
    32. Neus, Werner & Stadler, Manfred, 2018. "Common holdings and strategic manager compensation: The case of an asymmetric triopoly," University of Tübingen Working Papers in Business and Economics 109, University of Tuebingen, Faculty of Economics and Social Sciences, School of Business and Economics.
    33. Jacob P. Gramlich & Serafin J. Grundl, 2017. "Estimating the Competitive Effects of Common Ownership," Finance and Economics Discussion Series 2017-029, Board of Governors of the Federal Reserve System (U.S.).
    34. Yao, Wenyun & Qian, Yuhang & Yang, Hang & Xu, Wei, 2023. "Does minimum wages affect executive compensation? – Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 80(C).
    35. Gibbon, Alexandra J. & Schain, Jan Philip, 2022. "Rising Markups, Common Ownership, and Technological Capacities," VfS Annual Conference 2022 (Basel): Big Data in Economics 264011, Verein für Socialpolitik / German Economic Association.
    36. Cheng, Xin & (Helen) Wang, He & Wang, Xianjue, 2022. "Common institutional ownership and corporate social responsibility," Journal of Banking & Finance, Elsevier, vol. 136(C).
    37. Koch, Andrew & Panayides, Marios & Thomas, Shawn, 2021. "Common ownership and competition in product markets," Journal of Financial Economics, Elsevier, vol. 139(1), pages 109-137.
    38. Gilje, Erik P. & Gormley, Todd A. & Levit, Doron, 2020. "Who's paying attention? Measuring common ownership and its impact on managerial incentives," Journal of Financial Economics, Elsevier, vol. 137(1), pages 152-178.
    39. Olga Chiappinelli & Konstantinos G. Papadopoulos & Dimitrios Xefteris, 2023. "Common Ownership Unpacked," UB School of Economics Working Papers 2023/448, University of Barcelona School of Economics.
    40. Oz Shy & Rune Stenbacka, 2020. "Common ownership, institutional investors, and welfare," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 29(3), pages 706-723, July.
    41. Azar, José & Duro, Miguel & Kadach, Igor & Ormazabal, Gaizka, 2021. "The Big Three and corporate carbon emissions around the world," Journal of Financial Economics, Elsevier, vol. 142(2), pages 674-696.
    42. Lin, Luca Xianran, 2022. "Great Trees are Good for Shade: Creditor Monitoring Under Common Ownership," Finance Research Letters, Elsevier, vol. 44(C).
    43. Hunold, Matthias & Schlütter, Frank, 2019. "Vertical financial interest and corporate influence," DICE Discussion Papers 309, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    44. Shy, Oz & Stenbacka, Rune, 2019. "An OLG model of common ownership: Effects on consumption and investments," Journal of Macroeconomics, Elsevier, vol. 62(C).
    45. Hemant Bhargava & Antoine Dubus & David Ronayne & Shiva Shekhar, 2024. "The Strategic Value of Data Sharing in Interdependent Markets," CESifo Working Paper Series 10963, CESifo.
    46. Thomas Philippon, 2021. "A Comment on: “General Equilibrium Oligopoly and Ownership Structure” by José Azar and Xavier Vives," Econometrica, Econometric Society, vol. 89(3), pages 1055-1059, May.

  9. Thomas Eisenbach & Martin Schmalz & Marianne Andries, 2015. "Asset Pricing with Horizon-Dependent Risk Aversion," 2015 Meeting Papers 1069, Society for Economic Dynamics.

    Cited by:

    1. Chenglu Jin & Thomas Conlon & John Cotter, 2023. "Co-Skewness across Return Horizons," Journal of Financial Econometrics, Oxford University Press, vol. 21(5), pages 1483-1518.
    2. Roberto Marfè, 2016. "Income Insurance and the Equilibrium Term-Structure of Equity," Carlo Alberto Notebooks 459, Collegio Carlo Alberto.
    3. Epper, Thomas & Fehr-Duda, Helga, 2017. "A Tale of Two Tails: On the Coexistence of Overweighting and Underweighting of Rare Extreme Events," Economics Working Paper Series 1705, University of St. Gallen, School of Economics and Political Science.
    4. Yichuan Wang & Thomas Eisenbach & Martin Schmalz & Marianne Andries, 2017. "The Term Structure of the Price of Variance Risk," 2017 Meeting Papers 1641, Society for Economic Dynamics.
    5. Baeho Kim & Da‐Hea Kim & Haehean Park, 2020. "Informed options trading on the implied volatility surface: A cross‐sectional approach," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 40(5), pages 776-803, May.
    6. Ian Dew-Becker & Stefano Giglio & Anh Le & Marius Rodriguez, 2015. "The Price of Variance Risk," NBER Working Papers 21182, National Bureau of Economic Research, Inc.
    7. Niels Joachim Gormsen, 2021. "Time Variation of the Equity Term Structure," Journal of Finance, American Finance Association, vol. 76(4), pages 1959-1999, August.
    8. van Binsbergen, Jules H. & Koijen, Ralph S.J., 2017. "The term structure of returns: Facts and theory," Journal of Financial Economics, Elsevier, vol. 124(1), pages 1-21.

  10. Thomas M. Eisenbach & Martin C. Schmalz, 2015. "Anxiety and pro-cyclical risk taking with Bayesian agents," Staff Reports 711, Federal Reserve Bank of New York.

    Cited by:

    1. Peter Schwardmann & Joël van der Weele, 2016. "Deception and Self-Deception," Tinbergen Institute Discussion Papers 16-012/I, Tinbergen Institute.
    2. Thomas M. Eisenbach & Martin C. Schmalz, 2013. "Anxiety in the face of risk," Staff Reports 610, Federal Reserve Bank of New York.
    3. Banerjee, Ritwik & Gupta, Nabanita Datta & Villeval, Marie Claire, 2020. "Feedback spillovers across tasks, self-confidence and competitiveness," Games and Economic Behavior, Elsevier, vol. 123(C), pages 127-170.
    4. Damiano Bruno Silipo & Giovanni Verga & Sviatlana Hlebik, 2017. "Confidence And Overconfidence In Banking," Working Papers 201703, Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF.

  11. Marianne Andries & Thomas M. Eisenbach & R. Jay Kahn & Martin C. Schmalz, 2015. "The term structure of the price of variance risk," Staff Reports 736, Federal Reserve Bank of New York.

    Cited by:

    1. Chris Bardgett & Elise Gourier & Markus Leippold, 2016. "Inferring Volatility Dynamics and Risk Premia from the S&P 500 and VIX markets," Working Papers 780, Queen Mary University of London, School of Economics and Finance.
    2. Veronica Cappelli & Simone Cerreia-Vioglio & Fabio Maccheroni & Massimo Marinacci & Stefania Minardi, 2021. "Sources of Uncertainty and Subjective Prices," Journal of the European Economic Association, European Economic Association, vol. 19(2), pages 872-912.
    3. Thomas M. Eisenbach & Martin C. Schmalz, 2013. "Anxiety in the face of risk," Staff Reports 610, Federal Reserve Bank of New York.
    4. Charles Smith & Peter Van Tassel, 2021. "The Law of One Price in Equity Volatility Markets," Liberty Street Economics 20210201, Federal Reserve Bank of New York.
    5. Peter Van Tassel, 2018. "Equity Volatility Term Premia," Staff Reports 867, Federal Reserve Bank of New York.
    6. Peter Van Tassel, 2017. "Global Variance Term Premia and Intermediary Risk Appetite," 2017 Meeting Papers 149, Society for Economic Dynamics.
    7. Baeho Kim & Da‐Hea Kim & Haehean Park, 2020. "Informed options trading on the implied volatility surface: A cross‐sectional approach," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 40(5), pages 776-803, May.
    8. Ian Dew-Becker & Stefano Giglio & Bryan T. Kelly, 2019. "Hedging Macroeconomic and Financial Uncertainty and Volatility," NBER Working Papers 26323, National Bureau of Economic Research, Inc.
    9. Hollstein, Fabian & Prokopczuk, Marcel & Wese Simen, Chardin, 2017. "The Term Structure of Systematic and Idiosyncratic Risk," Hannover Economic Papers (HEP) dp-618, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    10. van Binsbergen, Jules H. & Koijen, Ralph S.J., 2017. "The term structure of returns: Facts and theory," Journal of Financial Economics, Elsevier, vol. 124(1), pages 1-21.

  12. Martin Schmalz & Jean-François Kagy & Jose Azar, 2014. "Can Changes in the Cost of Cash Resolve the Corporate Cash Puzzle?," 2014 Meeting Papers 1027, Society for Economic Dynamics.

    Cited by:

    1. Philippe Bacchetta & Kenza Benhima & Céline Poilly, 2019. "Corporate Cash and Employment," Post-Print hal-01995011, HAL.
    2. Stefan Nagel, 2016. "The Liquidity Premium of Near-Money Assets," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 131(4), pages 1927-1971.
    3. Anna-Leigh Stone, 2019. "Unlimited FDIC Insurance and the Implications for Corporate Cash," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 10(01), pages 1-51, November.

  13. Marianne Andries & Thomas M. Eisenbach & Martin C. Schmalz, 2014. "Horizon-Dependent Risk Aversion and the Timing and Pricing of Uncertainty," Staff Reports 703, Federal Reserve Bank of New York.

    Cited by:

    1. Andrei S. Gonçalves, 2021. "Reinvestment Risk and the Equity Term Structure," Journal of Finance, American Finance Association, vol. 76(5), pages 2153-2197, October.
    2. Veronica Cappelli & Simone Cerreia-Vioglio & Fabio Maccheroni & Massimo Marinacci & Stefania Minardi, 2021. "Sources of Uncertainty and Subjective Prices," Journal of the European Economic Association, European Economic Association, vol. 19(2), pages 872-912.
    3. Croce, Mariano & Ai, Hengjie & Li, Kai & Diercks, Anthony, 2018. "News Shocks and the Production-Based Term Structure of Equity Returns," CEPR Discussion Papers 12661, C.E.P.R. Discussion Papers.
    4. Michael Weber, 2016. "Cash Flow Duration and the Term Structure of Equity Returns," NBER Working Papers 22520, National Bureau of Economic Research, Inc.
    5. Thomas M. Eisenbach & Martin C. Schmalz, 2013. "Anxiety in the face of risk," Staff Reports 610, Federal Reserve Bank of New York.
    6. Matthijs Breugem & Stefano Colonello & Roberto Marfè & Francesca Zucchi, 2020. "Dynamic Equity Slope," Working Papers 2020:21, Department of Economics, University of Venice "Ca' Foscari".
    7. Yichuan Wang & Thomas Eisenbach & Martin Schmalz & Marianne Andries, 2017. "The Term Structure of the Price of Variance Risk," 2017 Meeting Papers 1641, Society for Economic Dynamics.
    8. Matthijs Breugem & Stefano Colonnello & Roberto Marfe & Francesca Zucchi, 2024. "Dynamic Equity Slope," Carlo Alberto Notebooks 713 JEL Classification: D, Collegio Carlo Alberto.
    9. Myroslav Pidkuyko & Raffaele Rossi & Klaus Reiner Schenk-Hoppé, 2019. "The Resolution of Long-Run Risk," Economics Discussion Paper Series 1908, Economics, The University of Manchester.
    10. van Binsbergen, Jules H. & Koijen, Ralph S.J., 2017. "The term structure of returns: Facts and theory," Journal of Financial Economics, Elsevier, vol. 124(1), pages 1-21.
    11. Matthijs Breugem & Roberto Marfè & Francesca Zucchi, 2020. "Corporate Policies and the Term Structure of Risk," Carlo Alberto Notebooks 627, Collegio Carlo Alberto.

  14. Martin C. Schmalz & David A. Sraer & David Thesmar, 2013. "Housing Collateral and Entrepreneurship," NBER Working Papers 19680, National Bureau of Economic Research, Inc.

    Cited by:

    1. Johan Hombert & Antoinette Schoar & David Sraer & David Thesmar, 2016. "Does Unemployment Insurance Change the Selection into Entrepreneurship?," NBER Chapters, in: Measuring Entrepreneurial Businesses: Current Knowledge and Challenges, pages 351-369, National Bureau of Economic Research, Inc.
    2. Jieying Li & Xin Zhang, 2018. "House Prices, Home Equity, and Personal Debt Composition," 2018 Meeting Papers 661, Society for Economic Dynamics.
    3. Bracke, Philippe & Hilber, Christian A. L. & Silva, Olmo, 2018. "Mortgage debt and entrepreneurship," LSE Research Online Documents on Economics 84703, London School of Economics and Political Science, LSE Library.
    4. Dimitrios Gounopoulos & Kyriaki Kosmidou & Dimitrios Kousenidis & Victoria Patsika, 2019. "The investigation of the dynamic linkages between real estate market and stock market in Greece," The European Journal of Finance, Taylor & Francis Journals, vol. 25(7), pages 647-669, May.
    5. Saleem Bahaj & Angus Foulis & Gabor Pinter, 2020. "Home Values and Firm Behavior," American Economic Review, American Economic Association, vol. 110(7), pages 2225-2270, July.
    6. P. Aghion & U. Akcigit & M. Lequien & S. Stantcheva, 2018. "Tax Simplicity and Heterogeneous Learning," Working papers 665, Banque de France.
    7. François Derrien & Mésonnier Jean-Stéphane & Vuillemey Guillaume, 2020. "Set-up Costs and the Financing of Young Firms," Working papers 792, Banque de France.
    8. Johan Hombert & Antoinette Schoar & David Alexandre Sraer & David Thesmar, 2013. "Can Unemployment Insurance Spur Entrepreneurial Activity? Evidence from France," Working Papers hal-02058245, HAL.
    9. Thais Lærkholm Jensen & Søren Leth-Petersen & Ramana Nanda, 2014. "Financing Constraints, Home Equity and Selection into Entrepreneurship," NBER Working Papers 20583, National Bureau of Economic Research, Inc.
    10. Toni Beutler & Mathieu Grobéty, 2011. "The Collateral Channel under Imperfect Debt Enforcement," Working Papers 11.11, Swiss National Bank, Study Center Gerzensee.
    11. Kyle Herkenhoff & Gordon Phillips & Ethan Cohen-Cole, 2017. "The Impact of Consumer Credit Access on Employment, Earnings, and Entrepreneurship," Working Papers 2017-011, Human Capital and Economic Opportunity Working Group.
    12. Gambacorta, Leonardo & Huang, Yiping & Li, Zhenhua & Qiu, Han & Chen, Shu, 2020. "Data vs collateral," CEPR Discussion Papers 15262, C.E.P.R. Discussion Papers.
    13. Nicholas Kacher & Luke Petach, 2021. "Boon or Burden? Evaluating the Competing Effects of House-Price Shocks on Regional Entrepreneurship," Economic Development Quarterly, , vol. 35(4), pages 287-304, November.
    14. Rubinstein, Yona & Levine, Ross, 2020. "Selection Into Entrepreneurship And Self-Employment," CEPR Discussion Papers 15143, C.E.P.R. Discussion Papers.
    15. Fougère, Denis & Lecat, Rémy & Ray, Simon, 2017. "Real estate prices and corporate investment: theory and evidence of heterogeneous effects across firms," CEPR Discussion Papers 11883, C.E.P.R. Discussion Papers.
    16. Xinxin Ma & Shi Li, 2022. "Self‐employment in Urban China: Entrepreneurship or Disguised Unemployment?," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 30(1), pages 166-195, January.
    17. Manuel Adelino & Song Ma & David T. Robinson, 2014. "Firm Age, Investment Opportunities, and Job Creation," NBER Working Papers 19845, National Bureau of Economic Research, Inc.
    18. Pinotti, Paolo & Cingano, Federico & Palomba, Filippo & Rettore, Enrico, 2022. "Making Subsidies Work: Rules vs. Discretion," CEPR Discussion Papers 17004, C.E.P.R. Discussion Papers.
    19. Bu, Di & Liao, Yin, 2022. "Land property rights and rural enterprise growth: Evidence from land titling reform in China," Journal of Development Economics, Elsevier, vol. 157(C).
    20. Han, Bing & Han, Lu & Zhou, Zhengyi, 2020. "Housing Market and Entrepreneurship: Micro Evidence from China," MPRA Paper 102597, University Library of Munich, Germany, revised 17 Aug 2020.
    21. Burke, Andrew & Millán, José María & Román, Concepción & van Stel, André, 2018. "Exploring the impact of different types of prior entrepreneurial experience on employer firm performance," Journal of Business Research, Elsevier, vol. 90(C), pages 107-122.
    22. Shiyi Chen & Wanlin Liu & Hong Song & Qing Zhang, 2024. "Government‐led e‐commerce expansion project and rural household income: Evidence and mechanisms," Economic Inquiry, Western Economic Association International, vol. 62(1), pages 150-174, January.
    23. Cynthia Sin Tian Ho & Björn Berggren, 2020. "The effect of bank branch closures on new firm formation: the Swedish case," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 65(2), pages 319-350, October.
    24. Jie Chen & Mingzhi Hu, 2019. "What types of homeowners are more likely to be entrepreneurs? The evidence from China," Small Business Economics, Springer, vol. 52(3), pages 633-649, March.
    25. Nuri Ersahin & Rustom M. Irani, 2015. "Collateral Values and Corporate Employment," Working Papers 15-30, Center for Economic Studies, U.S. Census Bureau.
    26. Leonardo Gambacorta & Yiping Huang & Zhenhua Li & Han Qiu & Shu Chen, 2023. "Data versus Collateral," Review of Finance, European Finance Association, vol. 27(2), pages 369-398.
    27. Xiandeng Jiang & Le Chang & Yanlin Shi, 2023. "Housing price diffusions in mainland China: evidence from a spatially penalized graphical VAR model," Empirical Economics, Springer, vol. 64(2), pages 765-795, February.
    28. Martin Koudstaal & Randolph Sloof & Mirjam van Praag, 2014. "Risk, Uncertainty and Entrepreneurship: Evidence From a Lab-in-the-Field Experiment," Tinbergen Institute Discussion Papers 14-136/VII, Tinbergen Institute.
    29. Barnett, William & Hu, Mingzhi & Wang, Xue, 2018. "Does the Utilization of Information Communication Technology Promote Entrepreneurship: Evidence from Rural China," MPRA Paper 86479, University Library of Munich, Germany.
    30. Ting Zhang & Roger Stough & Dan Gerlowski, 2022. "Digital exposure, age, and entrepreneurship," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 69(3), pages 633-681, December.
    31. Davis, J. Scott & Huang, Kevin X.D. & Sapci, Ayse, 2022. "Land price dynamics and macroeconomic fluctuations with imperfect substitution in real estate markets," Journal of Economic Dynamics and Control, Elsevier, vol. 134(C).
    32. Thorsten Beck & Leonardo Gambacorta & Yiping Huang & Zhenhua Li & Han Qiu, 2022. "Big techs, QR code payments and financial inclusion," BIS Working Papers 1011, Bank for International Settlements.
    33. Harding, John P. & Rosenthal, Stuart S., 2017. "Homeownership, housing capital gains and self-employment," Journal of Urban Economics, Elsevier, vol. 99(C), pages 120-135.
    34. Kristian S. Blickle, 2018. "Local banks, credit supply, and house prices," Staff Reports 874, Federal Reserve Bank of New York.
    35. Benedikt Vogt & Wolter Hassink & Matteo Millone & Remco Mocking, 2021. "Homeowners have easier and cheaper access to business credit," CPB Discussion Paper 420, CPB Netherlands Bureau for Economic Policy Analysis.
    36. Léon, Florian, 2019. "Long-term finance and entrepreneurship," Economic Systems, Elsevier, vol. 43(2), pages 1-1.
    37. Heinger, Sandro & Koeniger, Winfried & Lechner, Michael, 2022. "The Heterogeneous Response of Real Estate Asset Prices to a Global Shock," Economics Working Paper Series 2214, University of St. Gallen, School of Economics and Political Science.
    38. Rebucci, Alessandro & Bednarek, Peter & te Kaat, Daniel Marcel & Ma, Chang, 2019. "Capital Flows, Real Estate, and Local Cycles: Evidence from German Cities, Banks, and Firms," CEPR Discussion Papers 14187, C.E.P.R. Discussion Papers.
    39. William F. Lincoln & Andrew H. McCallum & Michael Siemer, 2019. "The Great Recession and a Missing Generation of Exporters," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(4), pages 703-745, December.
    40. Catherine, Sylvain, 2022. "Keeping options open: What motivates entrepreneurs?," Journal of Financial Economics, Elsevier, vol. 144(1), pages 1-21.
    41. Xu, Wenjian, 2018. "Entrepreneurship among the Unemployed: the Effect of Unemployment Benefit," SocArXiv 5dahz, Center for Open Science.
    42. Miguel A. Ferreira & Marta C. Lopes & Francisco Queiro & Hugo Reis, 2022. "Which entrepreneurs are financially constrained?," Nova SBE Working Paper Series wp647, Universidade Nova de Lisboa, Nova School of Business and Economics.
    43. Thomas Grjebine & Jérôme Héricourt & Fabien Tripier, 2023. "Sectoral reallocations, real estate shocks, and productivity divergence in Europe," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 159(1), pages 101-132, February.
    44. Bahaj, Saleem A. & Foulis, Angus & Pinter, Gabor, 2016. "The residential collateral channel," LSE Research Online Documents on Economics 86240, London School of Economics and Political Science, LSE Library.
    45. Ting Zhang & Zoltan Acs, 2019. "Does Generation Matter to Entrepreneurship? Four Generations of Entrepreneurs," Southern Economic Journal, John Wiley & Sons, vol. 86(2), pages 459-477, October.
    46. Dawson, Christopher & de Meza, David & Henley, Andrew & Arabsheibani, G. Reza, 2019. "Curb your enthusiasm: optimistic entrepreneurs earn less," LSE Research Online Documents on Economics 90264, London School of Economics and Political Science, LSE Library.
    47. Hassink, Wolter & Millone, Matteo & Mocking, Remco & Vogt, Benedikt, 2021. "Home Ownership and Home Equity Promote Entrepreneurial Activity," IZA Discussion Papers 14170, Institute of Labor Economics (IZA).
    48. Dimas Mateus Fazio & Thiago Christiano Silva, 2020. "Housing Collateral Reform and Economic Reallocation," Working Papers Series 522, Central Bank of Brazil, Research Department.
    49. Hassan F. Gholipour, 2020. "Urban house prices and investments in small and medium-sized industrial firms: Evidence from provinces of Iran," Urban Studies, Urban Studies Journal Limited, vol. 57(16), pages 3347-3362, December.
    50. Takanori Adachi & Takanori Hisada, 2017. "Gender differences in entrepreneurship and intrapreneurship: an empirical analysis," Small Business Economics, Springer, vol. 48(3), pages 447-486, March.
    51. Liu, Shimeng & Zhang, Sisi, 2021. "Housing wealth changes and entrepreneurship: Evidence from urban China," China Economic Review, Elsevier, vol. 69(C).
    52. Morazzoni, Marta & Sy, Andrea, 2022. "Female entrepreneurship, financial frictions and capital misallocation in the US," Journal of Monetary Economics, Elsevier, vol. 129(C), pages 93-118.
    53. Taejun Lim, 2018. "Housing as Collateral, Financial Constraints, and Small Businesses," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 30, pages 68-85, October.
    54. Hamed Ghiaie, 2018. "Shadow Bank run, Housing and Credit Market: The Story of a Recession," THEMA Working Papers 2018-01, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    55. Gordon, Roger & Sarada,, 2018. "How should taxes be designed to encourage entrepreneurship?," Journal of Public Economics, Elsevier, vol. 166(C), pages 1-11.
    56. Bracht, Felix & Mahieu, Jeroen & Vanhaverbeke, Steven, 2023. "The signaling value of legal form in debt financing," LSE Research Online Documents on Economics 121335, London School of Economics and Political Science, LSE Library.
    57. Marieke Bos & Emily Breza & Andres Liberman, 2016. "The Labor Market Effects of Credit Market Information," NBER Working Papers 22436, National Bureau of Economic Research, Inc.
    58. Felix Bracht & Jeroen Mahieu & Steven Vanhaverbeke, 2023. "The signaling value of legal form in debt financing," CEP Discussion Papers dp1914, Centre for Economic Performance, LSE.
    59. Arthur B. Kennickell & Myron L. Kwast & Jonathan Pogach, 2016. "Small Businesses and Small Business Finance during the Financial Crisis and the Great Recession: New Evidence from the Survey of Consumer Finances," NBER Chapters, in: Measuring Entrepreneurial Businesses: Current Knowledge and Challenges, pages 291-349, National Bureau of Economic Research, Inc.
    60. Joonkyu Choi & Nathan Goldschlag & John C. Haltiwanger & J. Daniel Kim, 2021. "Early Joiners and Startup Performance," NBER Working Papers 28417, National Bureau of Economic Research, Inc.
    61. Audinga Baltrunaite & Sara Formai & Andrea Linarello & Sauro Mocetti, 2022. "Ownership, Governance, Management and Firm Performance: Evidence from Italian Firms," Questioni di Economia e Finanza (Occasional Papers) 678, Bank of Italy, Economic Research and International Relations Area.
    62. Sari Pekkala Kerr & William R. Kerr & Ramana Nanda, 2015. "House Money and Entrepreneurship," Harvard Business School Working Papers 15-069, Harvard Business School.
    63. Szumilo, Nikodem & Vanino, Enrico, 2021. "Mortgage affordability and entrepreneurship: Evidence from spatial discontinuity in Help-to-Buy equity loans," Journal of Business Venturing, Elsevier, vol. 36(4).
    64. William F. Lincoln & Andrew H. McCallum & Michael Siemer, 2017. "The Great Recession and a Missing Generation of Exporters," Finance and Economics Discussion Series 2017-108, Board of Governors of the Federal Reserve System (U.S.).
    65. Rishabh, Kumar, 2021. "Bank as a Venture Capitalist," Working papers 2021/09, Faculty of Business and Economics - University of Basel.
    66. Ferreira, Miguel & Bermejo, Vicente & Wolfenzon, Daniel & Zambrana, Rafael, 2020. "Entrepreneurship and Regional Windfall Gains: Evidence from the Spanish Christmas Lottery," CEPR Discussion Papers 14638, C.E.P.R. Discussion Papers.
    67. Aymeric Bellon & J. Anthony Cookson & Erik P. Gilje & Rawley Z. Heimer, 2020. "Personal Wealth and Self-Employment," NBER Working Papers 27452, National Bureau of Economic Research, Inc.
    68. Guo, Yumei & Huang, Xianjing & Peng, Yuchao, 2020. "How does house price influence monetary policy transmission?," International Review of Financial Analysis, Elsevier, vol. 72(C).
    69. Ring, Marius, 2019. "Entrepreneurial Wealth and Employment: Tracing Out the Effects of a Stock Market Crash," MPRA Paper 107020, University Library of Munich, Germany, revised 06 Apr 2021.
    70. Robert M. Feinberg & Daniel Kuehn, 2020. "Does a Guaranteed Basic Income Encourage Entrepreneurship? Evidence from Alaska," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 57(3), pages 607-626, November.
    71. Joshua D. Gottlieb & Richard R. Townsend & Ting Xu, 2016. "Does Career Risk Deter Potential Entrepreneurs?," NBER Working Papers 22446, National Bureau of Economic Research, Inc.
    72. Ding, Haoyuan & Ni, Bei & Xue, Chang & Zhang, Xiaoyu, 2022. "Land holdings and outward foreign direct investment: Evidence from China," Journal of International Money and Finance, Elsevier, vol. 124(C).
    73. Jackson, Paul & Madison, Florian, 2022. "Entrepreneurial finance and monetary policy," European Economic Review, Elsevier, vol. 141(C).
    74. Sergeyev, Dmitriy & Mehrotra, Neil, 2016. "Financial Shocks and Job Flows," CEPR Discussion Papers 11677, C.E.P.R. Discussion Papers.
    75. Sin Tian Ho, Cynthia & Fili, Andreas, 2020. "Dynamic financial landscapes and entrepreneurial cultures on new firm formation in different industries," Working Paper Series 20/12, Royal Institute of Technology, Department of Real Estate and Construction Management & Banking and Finance.
    76. William F. Lincoln & Andrew H. McCallum & Michael Siemer, 2018. "The Great Recession and a Missing Generation of Exporters," Working Papers 18-33, Center for Economic Studies, U.S. Census Bureau.
    77. Remco Mocking & Benedikt Vogt & Wolter Hassink, 2017. "Collateral Damage? Decreasing House Prices and Entrepreneurial Lending," CPB Discussion Paper 351, CPB Netherlands Bureau for Economic Policy Analysis.
    78. Lee, Jungho & Xu, Jianhuan, 2020. "Why do businesses grow faster in urban areas than in rural areas?," Regional Science and Urban Economics, Elsevier, vol. 81(C).
    79. Mingzhi Hu & Xiaoshuang Li, 2022. "The reasons that younger homeowners are less likely to become entrepreneurs: The role of capital constraints," Journal of Regional Economics, Anser Press, vol. 1(1), pages 68-82, December.
    80. William D. Lastrapes & Ian Schmutte & Thor Watson, 2022. "Home equity lending, credit constraints and small business in the US," Economic Inquiry, Western Economic Association International, vol. 60(1), pages 43-63, January.
    81. Banerjee, Ryan & Blickle, Kristian, 2021. "Financial frictions, real estate collateral and small firm activity in Europe," European Economic Review, Elsevier, vol. 138(C).
    82. J. Scott Davis & Kevin X. D. Huang & Ayse Sapci, 2020. "Imperfect substitution in real estate markets and the effect of housing demand on corporate investment," Vanderbilt University Department of Economics Working Papers 20-00002, Vanderbilt University Department of Economics.
    83. Dahl, Michael S. & van Praag, Mirjam C. & Thompson, Peter, 2014. "Entrepreneurial Couples," IZA Discussion Papers 8186, Institute of Labor Economics (IZA).
    84. Hansson, Åsa & Kopsch, Fredrik, 2020. "Property Values and the Likelihood of Self-Employment," Working Paper Series 1376, Research Institute of Industrial Economics.
    85. Kerr, Sari Pekkala & Kerr, William R. & Nanda, Ramana, 2022. "House prices, home equity and entrepreneurship: Evidence from U.S. census micro data," Journal of Monetary Economics, Elsevier, vol. 130(C), pages 103-119.
    86. Lina Meng & Xiao Xiao & Yinggang Zhou, 2023. "Housing Boom and Household Migration Decision: New Evidence from China," The Journal of Real Estate Finance and Economics, Springer, vol. 67(3), pages 453-479, October.
    87. Manuel Adelino & Antoinette Schoar & Felipe Severino, 2013. "House Prices, Collateral and Self-Employment," NBER Working Papers 18868, National Bureau of Economic Research, Inc.
    88. Popov, Alexander, 2017. "Evidence on finance and economic growth," Working Paper Series 2115, European Central Bank.
    89. Oh, Seungjoon & Lee, Jaeyoon & Choi, Bong-Geun, 2021. "The collateral channel: Dynamic effects of housing market on entrepreneurship," Economics Letters, Elsevier, vol. 198(C).
    90. Vincenzo Cuciniello & Claudio Michelacci & Luigi Paciello, 2023. "Subsidizing business entry in competitive credit markets," Temi di discussione (Economic working papers) 1424, Bank of Italy, Economic Research and International Relations Area.
    91. Theodora Bermpei & Antonios Nikolaos Kalyvas & Lorenzo Neri & Antonella Russo, 2019. "Will Strangers Help you Enter? The Effect of Foreign Bank Presence on New Firm Entry," Journal of Financial Services Research, Springer;Western Finance Association, vol. 56(1), pages 1-38, August.
    92. Vicente J. Bermejo & Miguel A. Ferreira & Daniel Wolfenzon & Rafael Zambrana, 2022. "Windfall gains and entrepreneurial activity: Evidence from the Spanish Christmas lottery," Nova SBE Working Paper Series wp651, Universidade Nova de Lisboa, Nova School of Business and Economics.
    93. Campello, Murillo & Connolly, Robert A. & Kankanhalli, Gaurav & Steiner, Eva, 2022. "Do real estate values boost corporate borrowing? Evidence from contract-level data," Journal of Financial Economics, Elsevier, vol. 144(2), pages 611-644.
    94. Felix Bracht & Jeroen Mahieu & Steven Vanhaverbeke, 2022. "The signaling value of legal form in debt financing," POID Working Papers 052, Centre for Economic Performance, LSE.
    95. Johan Hombert & Antoinette Schoar & David Sraer & David Thesmar, 2014. "Can Unemployment Insurance Spur Entrepreneurial Activity?," NBER Working Papers 20717, National Bureau of Economic Research, Inc.
    96. Yue Qiu & Tracy Yue Wang, 2021. "Skilled Labor Risk and Corporate Policies [The growth of low skill service jobs and the polarization of the U.S. labor market]," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 10(3), pages 437-472.
    97. Alessio D’Ignazio & Carlo Menon, 2020. "Causal Effect of Credit Guarantees for Small‐ and Medium‐Sized Enterprises: Evidence from Italy," Scandinavian Journal of Economics, Wiley Blackwell, vol. 122(1), pages 191-218, January.
    98. Hsuan-Hua Huang & Hsing-Wen Han & Kuang-Ta Lo & Tzu-Ting Yang, 2023. "Liquidity Constraints, Cash Windfalls, and Entrepreneurship: Evidence from Administrative Data on Lottery Winners," Papers 2303.17029, arXiv.org.
    99. Jinglin Jiang & Hongyu Xiang, 2024. "Leadership and Entrepreneurship: Evidence from a Chinese Household Survey," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 14(1), pages 1-2.
    100. Ioannidou, Vasso & Pavanini, Nicola & Peng, Yushi, 2022. "Collateral and asymmetric information in lending markets," Journal of Financial Economics, Elsevier, vol. 144(1), pages 93-121.
    101. Luo, Qi & Hu, Haoyu & Feng, Dawei & He, Xiaogang, 2022. "How does broadband infrastructure promote entrepreneurship in China: Evidence from a quasi-natural experiment," Telecommunications Policy, Elsevier, vol. 46(10).
    102. Bjørneby, Marie & Markussen, Simen & Røed, Knut, 2020. "Does the Wealth Tax Kill Jobs?," IZA Discussion Papers 13766, Institute of Labor Economics (IZA).
    103. Cumming, Douglas J. & Sewaid, Ahmed, 2021. "FinTech loans, self-employment, and financial performance," CFS Working Paper Series 667, Center for Financial Studies (CFS).
    104. Mehrotra, Neil & Sergeyev, Dmitriy, 2021. "Financial shocks, firm credit and the Great Recession," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 296-315.
    105. Mehdi Beyhaghi, 2022. "Third-Party Credit Guarantees and the Cost of Debt: Evidence from Corporate Loans [Loan guarantees and credit supply]," Review of Finance, European Finance Association, vol. 26(2), pages 287-317.
    106. Hansson, Åsa & Kopsch, Fredrik, 2020. "Property Values and the Likelihood of Self-Employment," Working Papers 2020:26, Lund University, Department of Economics.
    107. Asaf Bernstein, 2021. "Negative Home Equity and Household Labor Supply," Journal of Finance, American Finance Association, vol. 76(6), pages 2963-2995, December.
    108. Ting Zhang & Zoltan Acs, 2018. "Age and entrepreneurship: nuances from entrepreneur types and generation effects," Small Business Economics, Springer, vol. 51(4), pages 773-809, December.
    109. Ramana Nanda, 2016. "Financing high-potential entrepreneurship," IZA World of Labor, Institute of Labor Economics (IZA), pages 252-252, April.
    110. Cai, Dongliang & Song, Quanyun & Ma, Shuang & Dong, Yang & Xu, Qiuhua, 2018. "The relationship between credit constraints and household entrepreneurship in China," International Review of Economics & Finance, Elsevier, vol. 58(C), pages 246-258.
    111. Herkenhoff, Kyle & Phillips, Gordon M. & Cohen-Cole, Ethan, 2021. "The impact of consumer credit access on self-employment and entrepreneurship," Journal of Financial Economics, Elsevier, vol. 141(1), pages 345-371.
    112. Kong, Dongmin & Qin, Ni & Xiang, Junyi, 2021. "Minimum wage and entrepreneurship: Evidence from China," Journal of Economic Behavior & Organization, Elsevier, vol. 189(C), pages 320-336.
    113. Chen, Xin & Qin, Yaohua & Xiao, He & Zhang, Yifei, 2019. "Microfinancing and Home-purchase Restrictions: Evidence from the Online “Peer-to-Peer” Lending in China," MPRA Paper 95375, University Library of Munich, Germany.
    114. Marie Bjørneby & Simen Markussen & Knut Røed, 2023. "An imperfect wealth tax and employment in closely held firms," Economica, London School of Economics and Political Science, vol. 90(358), pages 557-583, April.
    115. HONJO Yuji & ONO Arito & TSURUTA Daisuke, 2019. "The Effect of Physical Collateral and Personal Guarantees on Business Start-ups," Discussion papers 19087, Research Institute of Economy, Trade and Industry (RIETI).
    116. Wang, Li & Liu, Lihua & Dai, Yunhao, 2021. "Owning your future: Entrepreneurship and the prospects of upward mobility in China," Economic Modelling, Elsevier, vol. 104(C).
    117. He, Zekai & Shi, Xiuzhen & Lu, Xiaomeng & Li, Feng, 2019. "Home equity and household portfolio choice: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 60(C), pages 149-164.
    118. Engelberg, Joseph E. & Guzman, Jorge & Lu, Runjing & Mullins, William, 2021. "Partisan Entrepreneurship," SocArXiv qhs6j, Center for Open Science.
    119. Xuan Tian & Jiajie Xu, 2022. "Do Place-Based Policies Promote Local Innovation and Entrepreneurship? [A model of growth through creative destruction]," Review of Finance, European Finance Association, vol. 26(3), pages 595-635.
    120. Paul Beaumont & Huan Tang & Éric Vansteenberghe, 2024. "Collateral Effects: The Role of FinTech in Small Business Lending [Effets collatéraux : le rôle des Fintechs dans le financement des petites et moyennes entreprises]," Débats économiques et financiers 42, Banque de France.
    121. Mats Håkan Wilhelmsson, 2017. "The effect of house prices on business start-ups: A review and analysis using Swedish regional data," REGION, European Regional Science Association, vol. 4, pages 1-16.
    122. Cheol Eun & Lingling Wang & Tim Zhang, 2022. "House Price Growth Synchronization and Business Cycle Alignment," The Journal of Real Estate Finance and Economics, Springer, vol. 65(4), pages 675-710, November.
    123. Panagiota Papadimitri & Fotios Pasiouras & Menelaos Tasiou, 2021. "Do National Differences in Social Capital and Corporate Ethical Behaviour Perceptions Influence the Use of Collateral? Cross-Country Evidence," Journal of Business Ethics, Springer, vol. 172(4), pages 765-784, September.
    124. William Lincoln & Andrew McCallum & Michael Siemer, 2018. "The Great Recession and a Missing Generation of Exporters," 2018 Meeting Papers 558, Society for Economic Dynamics.
    125. Dudley, Evan, 2021. "Social capital and entrepreneurial financing choice," Journal of Corporate Finance, Elsevier, vol. 70(C).
    126. Arthur B. Kennickell & Myron L. Kwast & Jonathan Pogach, 2015. "Small Businesses and Small Business Finance during the Financial Crisis and the Great Recession: New Evidence From the Survey of Consumer Finances," Finance and Economics Discussion Series 2015-39, Board of Governors of the Federal Reserve System (U.S.).

  15. Thomas M. Eisenbach & Martin C. Schmalz, 2013. "Anxiety in the face of risk," Staff Reports 610, Federal Reserve Bank of New York.

    Cited by:

    1. Lucas Goodman & Anita Mukherjee & Shanthi Ramnath, 2022. "Set it and Forget it? Financing Retirement in an Age of Defaults," Working Paper Series WP 2022-50, Federal Reserve Bank of Chicago.
    2. Veronica Cappelli & Simone Cerreia-Vioglio & Fabio Maccheroni & Massimo Marinacci & Stefania Minardi, 2021. "Sources of Uncertainty and Subjective Prices," Journal of the European Economic Association, European Economic Association, vol. 19(2), pages 872-912.
    3. Giglio, Stefano & Ströbel, Johannes & Maggiori, Matteo, 2014. "No-Bubble Condition: Model-Free Tests in Housing Markets," CEPR Discussion Papers 9978, C.E.P.R. Discussion Papers.
    4. Thomas Eisenbach & Martin Schmalz & Marianne Andries, 2015. "Asset Pricing with Horizon-Dependent Risk Aversion," 2015 Meeting Papers 1069, Society for Economic Dynamics.
    5. Mariana Khapko, 2023. "Asset pricing with dynamically inconsistent agents," Finance and Stochastics, Springer, vol. 27(4), pages 1017-1046, October.
    6. Stefano Giglio & Matteo Maggiori & Johannes Stroebel, 2014. "Very Long-Run Discount Rates," NBER Working Papers 20133, National Bureau of Economic Research, Inc.
    7. Neszveda, G., 2019. "Essays on behavioral finance," Other publications TiSEM 05059039-5236-42a3-be1b-3, Tilburg University, School of Economics and Management.
    8. Georges Prat & Remzi Uctum, 2021. "Modeling ex-ante risk premia in the oil market," Post-Print hal-03318785, HAL.
    9. Marianne Andries & Thomas M. Eisenbach & Martin C. Schmalz, 2014. "Horizon-Dependent Risk Aversion and the Timing and Pricing of Uncertainty," Staff Reports 703, Federal Reserve Bank of New York.
    10. Jose Apesteguia & Jörg Oechssler & Simon Weidenholzer, 2020. "Copy Trading," Management Science, INFORMS, vol. 66(12), pages 5608-5622, December.
      • Jose Apesteguia & Jörg Oechssler & Simon Weidenholzer, 2018. "Copy trading," Economics Working Papers 1615, Department of Economics and Business, Universitat Pompeu Fabra, revised Sep 2019.
      • Jose Apesteguia & Jörg Oechssler & Simon Weidenholzer, 2018. "Copy Trading," Working Papers 1048, Barcelona School of Economics.
      • Apesteguia, Jose & Oechssler, Jörg & Weidenholzer, Simon, 2018. "Copy Trading," Working Papers 0649, University of Heidelberg, Department of Economics.
    11. Peter Reinhard Hansen & Chen Tong, 2022. "Option Pricing with Time-Varying Volatility Risk Aversion," Papers 2204.06943, arXiv.org, revised Oct 2022.
    12. Airaudo, Marco, 2020. "Temptation and forward-guidance," Journal of Economic Theory, Elsevier, vol. 186(C).
    13. Goodman, Lucas & Mukherjee, Anita & Ramnath, Shanthi, 2023. "Set it and forget it? Financing retirement in an age of defaults," Journal of Financial Economics, Elsevier, vol. 148(1), pages 47-68.
    14. Feng, Jingbing & Xu, Xian & Zou, Hong, 2023. "Risk communication clarity and insurance demand: The case of the COVID-19 pandemic," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
    15. Thomas M. Eisenbach & Martin C. Schmalz, 2015. "Anxiety and pro-cyclical risk taking with Bayesian agents," Staff Reports 711, Federal Reserve Bank of New York.
    16. van Binsbergen, Jules H. & Koijen, Ralph S.J., 2017. "The term structure of returns: Facts and theory," Journal of Financial Economics, Elsevier, vol. 124(1), pages 1-21.
    17. Niels Joachim Gormsen & Eben Lazarus, 2023. "Duration‐Driven Returns," Journal of Finance, American Finance Association, vol. 78(3), pages 1393-1447, June.
    18. Haim Levy & Moshe Levy, 2021. "Prospect theory, constant relative risk aversion, and the investment horizon," PLOS ONE, Public Library of Science, vol. 16(4), pages 1-21, April.
    19. Steffen Westermann & Scott J. Niblock & Jennifer L. Harrison & Michael A. Kortt, 2020. "Financial Advice Seeking: A Review of the Barriers and Benefits," Economic Papers, The Economic Society of Australia, vol. 39(4), pages 367-388, December.

Articles

  1. Francesco Franzoni & Martin C. Schmalz, 2017. "Fund Flows and Market States," The Review of Financial Studies, Society for Financial Studies, vol. 30(8), pages 2621-2673.

    Cited by:

    1. Schmalz, Martin & Zhuk, Sergey, 2018. "Revealing Downturns," CEPR Discussion Papers 12597, C.E.P.R. Discussion Papers.
    2. Kuzmina, Olga, 2020. "A model-free identification of relative risk," Economics Letters, Elsevier, vol. 190(C).
    3. Luo, Deming & Jiang, Sainan & Yao, Zhongwei, 2023. "Economic policy uncertainty and mutual fund risk shifting," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).
    4. Ming Gu & Minxing Sun & Yangru Wu & Weike Xu, 2021. "Economic policy uncertainty and momentum," Financial Management, Financial Management Association International, vol. 50(1), pages 237-259, March.
    5. Fricke, Daniel & Wilke, Hannes, 2020. "Connected funds," Discussion Papers 48/2020, Deutsche Bundesbank.
    6. Hameed, Allaudeen & Xie, Jing, 2019. "Preference for dividends and return comovement," Journal of Financial Economics, Elsevier, vol. 132(1), pages 103-125.
    7. Elias Cavalcante Junior & Fernando Moraes & Rodrigo De Losso, 2020. "Unskilled Fund Managers: Replicating Active Fund Performance With Few ETFs," Working Papers, Department of Economics 2020_14, University of São Paulo (FEA-USP), revised 15 Sep 2020.
    8. Alexander Eisele & Tamara Nefedova & Gianpaolo Parise & Kim Peijnenburg, 2013. "Trading Out of Sight: An Analysis of Cross-Trading in Mutual Fund Families," Swiss Finance Institute Research Paper Series 13-19, Swiss Finance Institute.
    9. Fricke, Daniel & Jank, Stephan & Wilke, Hannes, 2022. "Who creates and who bears flow externalities in mutual funds?," Discussion Papers 41/2022, Deutsche Bundesbank.
    10. Ibert, Markus, 2023. "What do mutual fund managers’ private portfolios tell us about their skills?," Journal of Financial Intermediation, Elsevier, vol. 53(C).
    11. Fricke, Christoph & Fricke, Daniel, 2021. "Vulnerable asset management? The case of mutual funds," Journal of Financial Stability, Elsevier, vol. 52(C).
    12. Jennifer Huang & Kelsey D. Wei & Hong Yan, 2022. "Investor learning and mutual fund flows," Financial Management, Financial Management Association International, vol. 51(3), pages 739-765, September.
    13. Marshall, Ben R. & Nguyen, Hung T. & Nguyen, Nhut H. & Visaltanachoti, Nuttawat & Young, Martin, 2021. "Do climate risks matter for green investment?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    14. Richard Apau & Peter Moores-Pitt & Paul-Francois Muzindutsi, 2021. "Regime-Switching Determinants of Mutual Fund Performance in South Africa," Economies, MDPI, vol. 9(4), pages 1-20, October.
    15. Sara Ali & Ihsan Badshah & Riza Demirer & Prasad Hegde, 2023. "Economic policy uncertainty and fund flow performance sensitivity: Evidence from New Zealand," International Review of Finance, International Review of Finance Ltd., vol. 23(3), pages 666-679, September.
    16. Rakowski, David & Yamani, Ehab, 2021. "Endogeneity in the mutual fund flow–performance relationship: An instrumental variables solution," Journal of Empirical Finance, Elsevier, vol. 64(C), pages 247-271.
    17. Omori, Kozo & Kitamura, Tomoki, 2023. "Investor response to Morningstar's ratings, category information, and alpha in the Japanese mutual fund market," International Review of Financial Analysis, Elsevier, vol. 89(C).
    18. Guillermo Baquero & Marno Verbeek, 2022. "Hedge Fund Flows and Performance Streaks: How Investors Weigh Information," Management Science, INFORMS, vol. 68(6), pages 4151-4172, June.
    19. Papadimitriou, Dimitris & Tokis, Konstantinos & Vichos, Georgios & Mourdoukoutas, Panos, 2023. "Managing other people's money: an agency theory in financial management industry," LSE Research Online Documents on Economics 119872, London School of Economics and Political Science, LSE Library.
    20. Ali, Sara & Badshah, Ihsan & Demirer, Riza & Hegde, Prasad, 2022. "Economic policy uncertainty and institutional investment returns: The case of New Zealand," Pacific-Basin Finance Journal, Elsevier, vol. 74(C).
    21. Gilbert, Thomas & Hrdlicka, Christopher & Kamara, Avraham, 2018. "The structure of information release and the factor structure of returns," Journal of Financial Economics, Elsevier, vol. 127(3), pages 546-566.
    22. Li, Zhuolei & Diao, Xundi & Wu, Chongfeng, 2022. "The influence of mobile trading on return dispersion and herding behavior," Pacific-Basin Finance Journal, Elsevier, vol. 73(C).
    23. Martijn Boermans, 2022. "A literature review of securities holdings statistics research and a practitioner’s guide," Working Papers 757, DNB.

  2. Martin C. Schmalz & David A. Sraer & David Thesmar, 2017. "Housing Collateral and Entrepreneurship," Journal of Finance, American Finance Association, vol. 72(1), pages 99-132, February.
    See citations under working paper version above.
  3. José A. Azar & Jean-François Kagy & Martin C. Schmalz, 2016. "Can Changes in the Cost of Carry Explain the Dynamics of Corporate "Cash" Holdings?," The Review of Financial Studies, Society for Financial Studies, vol. 29(8), pages 2194-2240.

    Cited by:

    1. Konrad Adler & Mr. JaeBin Ahn & Mai Dao, 2019. "Innovation and Corporate Cash Holdings in the Era of Globalization," IMF Working Papers 2019/017, International Monetary Fund.
    2. Edoardo Rainone, 2022. "Currency demand at negative policy rates," Temi di discussione (Economic working papers) 1359, Bank of Italy, Economic Research and International Relations Area.
    3. Inaba, Kei-Ichiro, 2021. "Corporate cash and governance: A global look into publicly-traded companies' aggregate cash ratios," International Review of Financial Analysis, Elsevier, vol. 78(C).
    4. Perotti, Enrico & Döttling, Robin & Ladika, Tomislav, 2018. "The (Self-) Funding of Intangibles," CEPR Discussion Papers 12618, C.E.P.R. Discussion Papers.
    5. Smith, Simon C., 2017. "Equity premium estimates from economic fundamentals under structural breaks," International Review of Financial Analysis, Elsevier, vol. 52(C), pages 49-61.
    6. Smith, Deborah Drummond & Gleason, Kimberly C. & Kannan, Yezen H., 2021. "Auditor liability and excess cash holdings: Evidence from audit fees of foreign incorporated firms," International Review of Financial Analysis, Elsevier, vol. 78(C).
    7. Berardino Palazzo & Juliane Begenau, 2015. "Firm Selection and Corporate Cash Holdings," 2015 Meeting Papers 1047, Society for Economic Dynamics.
    8. Ahrends, Meike & Drobetz, Wolfgang & Puhan, Tatjana Xenia, 2018. "Cyclicality of growth opportunities and the value of cash holdings," Journal of Financial Stability, Elsevier, vol. 37(C), pages 74-96.
    9. Altavilla, Carlo & Burlon, Lorenzo & Giannetti, Mariassunta & Holton, Sarah, 2022. "Is there a zero lower bound? The effects of negative policy rates on banks and firms," Journal of Financial Economics, Elsevier, vol. 144(3), pages 885-907.
    10. Chen, Hsuan-Chi & Chou, Robin K. & Lu, Chien-Lin, 2018. "Saving for a rainy day: Evidence from the 2000 dot-com crash and the 2008 credit crisis," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 680-699.
    11. Zhao, Jake, 2020. "Accounting for the corporate cash increase," European Economic Review, Elsevier, vol. 123(C).
    12. Cardella, Laura & Fairhurst, Douglas & Klasa, Sandy, 2021. "What determines the composition of a firm's cash reserves?," Journal of Corporate Finance, Elsevier, vol. 68(C).
    13. Al-Hadi, Ahmed & Eulaiwi, Baban & Al-Yahyaee, Khamis Hamed & Duong, Lien & Taylor, Grantley, 2020. "Investment committees and corporate cash holdings," The North American Journal of Economics and Finance, Elsevier, vol. 54(C).
    14. Cook, Douglas O. & Kieschnick, Robert & Moussawi, Rabih, 2021. "Operating lease obligations and corporate cash management," Journal of Corporate Finance, Elsevier, vol. 69(C).
    15. Ysmailov, Bektemir, 2021. "Interest rates, cash and short-term investments," Journal of Banking & Finance, Elsevier, vol. 132(C).
    16. Eskandari, Ruhollah & Zamanian, Morteza, 2022. "Cost of carry, financial constraints, and dynamics of corporate cash holdings," Journal of Corporate Finance, Elsevier, vol. 74(C).
    17. Viral V Acharya & Sascha Steffen, 2020. "The Risk of Being a Fallen Angel and the Corporate Dash for Cash in the Midst of COVID," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 9(3), pages 430-471.
    18. Ma, Liang & Mello, Antonio S. & Wu, Youchang, 2020. "First-mover advantage, time to finance, and cash holdings," Journal of Corporate Finance, Elsevier, vol. 62(C).
    19. Viral V. Acharya & Soku Byoun & Zhaoxia Xu, 2020. "The Sensitivity of Cash Savings to the Cost of Capital," NBER Working Papers 27517, National Bureau of Economic Research, Inc.
    20. Priit Jeenas, 2023. "Firm balance sheet liquidity, monetary policy shocks, and investment dynamics," Economics Working Papers 1872, Department of Economics and Business, Universitat Pompeu Fabra.
    21. Byun, Seong K. & Lin, Zhilu & Wei, Siqi, 2021. "Are U.S. firms using more short-term debt?," Journal of Corporate Finance, Elsevier, vol. 69(C).
    22. Milton Harris & Artur Raviv, 2017. "Why Do Firms Sit on Cash? An Asymmetric Information Approach," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 6(2), pages 141-173.
    23. John R. Graham & Mark T. Leary, 2017. "The Evolution of Corporate Cash," NBER Working Papers 23767, National Bureau of Economic Research, Inc.
    24. Mortal, Sandra & Nanda, Vikram & Reisel, Natalia, 2020. "Why do private firms hold less cash than public firms? International evidence on cash holdings and borrowing costs," Journal of Banking & Finance, Elsevier, vol. 113(C).
    25. Curtis, Chadwick C. & Garín, Julio & Saif Mehkari, M., 2017. "Inflation and the evolution of firm-level liquid assets," Journal of Banking & Finance, Elsevier, vol. 81(C), pages 24-35.
    26. Zachary Bethune & Guillaume Rocheteau & Russell Wong & Cathy Zhang, 2020. "Lending Relationships and Optimal Monetary Policy," Working Paper 20-13, Federal Reserve Bank of Richmond.
    27. Wulung Li, 2021. "The role of accounting quality in corporate liquidity management," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(2), pages 2631-2670, June.
    28. Jessie Jiaxu Wang, 2023. "Workplace Automation and Corporate Liquidity Policy," Finance and Economics Discussion Series 2023-023, Board of Governors of the Federal Reserve System (U.S.).
    29. Park, SeHyun, 2022. "Liquid asset sheltering, or cost of capital? The effect of political corruption on corporate cash holdings," International Review of Financial Analysis, Elsevier, vol. 82(C).
    30. Kei-Ichiro Inaba, 2020. "A Global Look into Corporate Cash after the Global Financial Crisis," IMES Discussion Paper Series 20-E-07, Institute for Monetary and Economic Studies, Bank of Japan.
    31. Denis, David J. & McKeon, Stephen B., 2021. "Persistent negative cash flows, staged financing, and the stockpiling of cash balances," Journal of Financial Economics, Elsevier, vol. 142(1), pages 293-313.
    32. Xiaodan Gao, 2018. "Corporate Cash Hoarding: The Role of Just-in-Time Adoption," Management Science, INFORMS, vol. 64(10), pages 4858-4876, October.
    33. Adão, Bernardino & Silva, André C., 2020. "The effect of firm cash holdings on monetary policy," European Economic Review, Elsevier, vol. 128(C).
    34. John R Graham & Mark T Leary, 2018. "The Evolution of Corporate Cash," The Review of Financial Studies, Society for Financial Studies, vol. 31(11), pages 4288-4344.
    35. Ye Li, 2018. "Fragile New Economy: The Rise of Intangible Capital and Financial Instability," 2018 Meeting Papers 1189, Society for Economic Dynamics.
    36. Lin, Xiaowei & Li, Ao & Zhang, Pengdong & Chen, Wenchuan, 2023. "The disciplinary role of product market competition on cash holding," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 653-671.
    37. Azar, José & Duro, Miguel & Kadach, Igor & Ormazabal, Gaizka, 2021. "The Big Three and corporate carbon emissions around the world," Journal of Financial Economics, Elsevier, vol. 142(2), pages 674-696.
    38. Ryosuke Fujitani & Masazumi Hattori & Tomohide Mineyama, 2024. "Passive and Proactive Motivations of Cash Holdings," Working Papers e200, Tokyo Center for Economic Research.
    39. Chen, Hsuan-Chi & Chou, Robin K. & Lu, Chien-Lin, 2021. "Misvaluation and the corporate propensity to hold cash," Journal of Corporate Finance, Elsevier, vol. 70(C).
    40. Schmalz, Martin, 2018. "Unionization, Cash, and Leverage," CEPR Discussion Papers 12595, C.E.P.R. Discussion Papers.
    41. Antonio Falato & Dalida Kadyrzhanova & Jae Sim & Roberto Steri, 2022. "Rising Intangible Capital, Shrinking Debt Capacity, and the U.S. Corporate Savings Glut," Journal of Finance, American Finance Association, vol. 77(5), pages 2799-2852, October.
    42. Mai Dao & Chiara Maggi, 2018. "The Rise in Corporate Saving and Cash Holding in Advanced Economies: Aggregate and Firm Level Trends," IMF Working Papers 2018/262, International Monetary Fund.

  4. Eisenbach, Thomas M. & Schmalz, Martin C., 2016. "Anxiety in the face of risk," Journal of Financial Economics, Elsevier, vol. 121(2), pages 414-426.
    See citations under working paper version above.
  5. Joan Farre-Mensa & Roni Michaely & Martin Schmalz, 2014. "Payout Policy," Annual Review of Financial Economics, Annual Reviews, vol. 6(1), pages 75-134, December.

    Cited by:

    1. Patrice Charlier & Céline Duboys, 2011. "Gouvernance familiale et politique de distribution aux actionnaires," Revue Finance Contrôle Stratégie, revues.org, vol. 14(1), pages 5-31., March.
    2. Murhadi, Werner-Ria, 2008. "Study On Dividend Policy: Antecedent and Its Impact On Share Price," MPRA Paper 25596, University Library of Munich, Germany.
    3. Alzahrani, Mohammed & Lasfer, Meziane, 2012. "Investor protection, taxation, and dividends," Journal of Corporate Finance, Elsevier, vol. 18(4), pages 745-762.
    4. Huang-Meier, Winifred & Freeman, Mark C., 2015. "Aggregate dividends and consumption smoothing," International Review of Financial Analysis, Elsevier, vol. 42(C), pages 324-335.
    5. Fuller, Kathleen P., 2003. "The impact of informed trading on dividend signaling: a theoretical and empirical examination," Journal of Corporate Finance, Elsevier, vol. 9(4), pages 385-407, September.
    6. Kamal Anouar & Nicolas Aubert, 2016. "Does the catering theory of dividend apply to the French listed firms?," Post-Print halshs-01401867, HAL.
    7. Caliskan, Deren & Doukas, John A., 2015. "CEO risk preferences and dividend policy decisions," Journal of Corporate Finance, Elsevier, vol. 35(C), pages 18-42.
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