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Marcus M. Opp

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.

Working papers

  1. Becker, Bo & Opp, Marcus & Saidi, Farzad, 2020. "Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Eliminating Capital Requirements," CEPR Discussion Papers 14373, C.E.P.R. Discussion Papers.

    Cited by:

    1. Grochola, Nicolaus & Browne, Mark Joseph & Gründl, Helmut & Schlütter, Sebastian, 2021. "Exploring the market risk profiles of U.S. and European life insurers," ICIR Working Paper Series 39/21, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).

  2. Opp, Marcus & Oehmke, Martin, 2020. "A theory of socially responsible investment," CEPR Discussion Papers 14351, C.E.P.R. Discussion Papers.

    Cited by:

    1. Inderst, Roman & Heider, Florian, 2022. "A Corporate Finance Perspective on Environmental Policy," CEPR Discussion Papers 16878, C.E.P.R. Discussion Papers.
    2. Sebastien Pouget & Christian Gollier, 2021. "Investment Strategies and Corporate Behaviour with Socially Responsible Investors: A Theory of Active Ownership," Working Papers 2021.15, FAERE - French Association of Environmental and Resource Economists.
    3. Hakenes, Hendrik & Schliephake, Eva, 2022. "Responsible Investment and Responsible Consumption," VfS Annual Conference 2022 (Basel): Big Data in Economics 264004, Verein für Socialpolitik / German Economic Association.
    4. Olaf Stotz, 2021. "Expected and realized returns on stocks with high- and low-ESG exposure," Journal of Asset Management, Palgrave Macmillan, vol. 22(2), pages 133-150, March.
    5. Meg Adachi-Sato, 2021. "Contract Duration and Socially Responsible Investment," Discussion Paper Series DP2021-14, Research Institute for Economics & Business Administration, Kobe University.
    6. Inderst, Roman & Opp, Marcus, 2022. "Socially Optimal Sustainability Standards with Non-Consequentialist ("Warm Glow") Investors," CEPR Discussion Papers 17100, C.E.P.R. Discussion Papers.
    7. Eleonora Broccardo & Oliver D. Hart & Luigi Zingales, 2020. "Exit vs. Voice," Working Papers 2020-114, Becker Friedman Institute for Research In Economics.
    8. Bustamante, Maria Cecilia & Zucchi, Francesca, 2024. "Dynamic carbon emission management," Working Paper Series 2885, European Central Bank.
    9. Hendrik Hakenes & Eva Schliephake, 2021. "Responsible Investment and Responsible Consumption," ECONtribute Discussion Papers Series 134, University of Bonn and University of Cologne, Germany.
    10. Ekaterina O. Vostrikova & Anna P. Meshkova, 2020. "ESG Criteria in Investment: Foreign and Russian Experience," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 117-129, August.
    11. Tan, Xiujie & Dong, Hanmin & Liu, Yishuang & Su, Xin & Li, Zixian, 2022. "Green bonds and corporate performance: A potential way to achieve green recovery," Renewable Energy, Elsevier, vol. 200(C), pages 59-68.
    12. Panos Xidonas & Eric Essner, 2024. "On ESG Portfolio Construction: A Multi-Objective Optimization Approach," Computational Economics, Springer;Society for Computational Economics, vol. 63(1), pages 21-45, January.
    13. Meg Adachi-Sato, 2021. "Socially Responsible Investment: Ex-ante Contracting or Ex-post Bargaining?," Discussion Paper Series DP2021-20, Research Institute for Economics & Business Administration, Kobe University, revised Feb 2023.
    14. Steven D. Baker & Burton Hollifield & Emilio Osambela, 2022. "Asset Prices and Portfolios with Externalities [Pricedetermination in the EU ETS market: theory and econometric analysis with market fundamentals]," Review of Finance, European Finance Association, vol. 26(6), pages 1433-1468.
    15. Meg Adachi-Sato & Hiroshi Osano, 2023. "Sustainable Investing Under Delegated Investment Management," Discussion Paper Series DP2023-01, Research Institute for Economics & Business Administration, Kobe University, revised May 2023.
    16. Lubos Pastor & Robert F. Stambaugh & Lucian A. Taylor, 2019. "Sustainable Investing in Equilibrium," NBER Working Papers 26549, National Bureau of Economic Research, Inc.
    17. Giglio, Stefano & Maggiori, Matteo & Stroebel, Johannes & Tan, Zhenhao & Utkus, Stephen & Xu, Xiao, 2023. "Four Facts About Esg Beliefs And Investor Portfolios," SocArXiv dcb93, Center for Open Science.
    18. Bunderson, Stuart & Thakor, Anjan V., 2022. "Higher purpose, banking and stability," Journal of Banking & Finance, Elsevier, vol. 140(C).
    19. Pedersen, Lasse Heje & Fitzgibbons, Shaun & Pomorski, Lukasz, 2021. "Responsible investing: The ESG-efficient frontier," Journal of Financial Economics, Elsevier, vol. 142(2), pages 572-597.
    20. Liu, Xufeng & Wan, Die, 2023. "Retail investor trading and ESG pricing in China," Research in International Business and Finance, Elsevier, vol. 65(C).
    21. Krahnen, Jan Pieter & Rocholl, Jörg & Thum, Marcel, 2021. "A primer on green finance: From wishful thinking to marginal impact," SAFE White Paper Series 87, Leibniz Institute for Financial Research SAFE.
    22. Gillan, Stuart L. & Koch, Andrew & Starks, Laura T., 2021. "Firms and social responsibility: A review of ESG and CSR research in corporate finance," Journal of Corporate Finance, Elsevier, vol. 66(C).
    23. Krahnen Jan & Rocholl Jörg & Thum Marcel, 2023. "A Primer on Green Finance: From Wishful Thinking to Marginal Impact," Review of Economics, De Gruyter, vol. 74(1), pages 1-19, April.
    24. Ilaria Piatti & Joel Shapiro & Xuan Wang, 2023. "Sustainable Investing and Public Goods Provision," Working Papers 969, Queen Mary University of London, School of Economics and Finance.
    25. Olivier David Zerbib, 2022. "A Sustainable Capital Asset Pricing Model (S-CAPM): Evidence from Environmental Integration and Sin Stock Exclusion [Asset pricing with liquidity risk]," Review of Finance, European Finance Association, vol. 26(6), pages 1345-1388.

  3. Opp, Marcus & Harris, Milton & Opp, Christian, 2020. "The aggregate demand for bank capital," CEPR Discussion Papers 14524, C.E.P.R. Discussion Papers.

    Cited by:

    1. Bonaccorsi di Patti, Emilia & Moscatelli, Mirko & Pietrosanti, Stefano, 2023. "The impact of bank regulation on the cost of credit: Evidence from a discontinuity in capital requirements," Journal of Financial Intermediation, Elsevier, vol. 55(C).
    2. Favara, Giovanni & Ivanov, Ivan & Rezende, Marcelo, 2021. "GSIB surcharges and bank lending: Evidence from US corporate loan data," Journal of Financial Economics, Elsevier, vol. 142(3), pages 1426-1443.
    3. Florian Hoffmann & Roman Inderst & Marcus Opp, 2022. "The Economics of Deferral and Clawback Requirements," Journal of Finance, American Finance Association, vol. 77(4), pages 2423-2470, August.
    4. Viral V. Acharya & Katharina Bergant & Matteo Crosignani & Tim Eisert & Fergal J. McCann, 2020. "The Anatomy of the Transmission of Macroprudential Policies," NBER Working Papers 27292, National Bureau of Economic Research, Inc.
    5. Ahnert, Toni & Anand, Kartik & Koenig, Philipp, 2023. "Real Interest Rates, Bank Borrowing, and Fragility," CEPR Discussion Papers 17793, C.E.P.R. Discussion Papers.

  4. Inderst, Roman & Opp, Marcus, 2019. "Only time will tell: A theory of deferred compensation," CEPR Discussion Papers 13643, C.E.P.R. Discussion Papers.

    Cited by:

    1. Orlov, Dmitry, 2022. "Frequent monitoring in dynamic contracts," Journal of Economic Theory, Elsevier, vol. 206(C).
    2. Honda, Jun & Inderst, Roman & Ottaviani, Marco, 2022. "When Liability is Not Enough: Regulating Bonus Payments in Markets With Advice," EconStor Preprints 259401, ZBW - Leibniz Information Centre for Economics.
    3. George Georgiadis & Balazs Szentes, 2020. "Optimal Monitoring Design," Econometrica, Econometric Society, vol. 88(5), pages 2075-2107, September.
    4. Mayer, Simon, 2022. "Financing breakthroughs under failure risk," Journal of Financial Economics, Elsevier, vol. 144(3), pages 807-848.
    5. Liu, Wenyue & Cadenillas, Abel, 2023. "Optimal insurance contracts for a shot-noise Cox claim process and persistent insured's actions," Insurance: Mathematics and Economics, Elsevier, vol. 109(C), pages 69-93.

  5. Inderst, Roman & Hoffmann, Florian & Opp, Marcus, 2014. "Regulating Deferred Incentive Pay," CEPR Discussion Papers 9877, C.E.P.R. Discussion Papers.

    Cited by:

    1. Julian Kolm & Christian Laux & Gyöngyi Lóránth, 2017. "Bank Regulation, CEO Compensation, and Boards," Review of Finance, European Finance Association, vol. 21(5), pages 1901-1932.
    2. Alessandro Fedele & Luca Panaccione, 2020. "Moral hazard and compensation packages: does reshuffling matter?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(1), pages 223-241, July.
    3. Taylor, John B. & Wieland, Volker, 2016. "Finding the equilibrium real interest rate in a fog of policy deviations," IMFS Working Paper Series 103, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    4. Meg Adachi‐Sato, 2018. "Stock vesting conditions, control benefits and managerial replacement," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 51(1), pages 275-313, February.
    5. Hori, Keiichi & Osano, Hiroshi, 2020. "Dynamic contract and discretionary termination policy under loss aversion," Journal of Economic Dynamics and Control, Elsevier, vol. 111(C).
    6. Roman Inderst & Marcus Opp & Florian Hoffmann, 2016. "Deferred compensation and risk-taking incentives," 2016 Meeting Papers 674, Society for Economic Dynamics.

  6. Bo Becker & Marcus Opp, 2013. "Regulatory reform and risk-taking: replacing ratings," NBER Working Papers 19257, National Bureau of Economic Research, Inc.

    Cited by:

    1. Milton Harris & Christian Opp & Marcus Opp, 2020. "The Aggregate Demand for Bank Capital," NBER Working Papers 27858, National Bureau of Economic Research, Inc.
    2. Joseph Briggs & Christopher Tonetti, 2019. "Risky Insurance: Insurance Portfolio Choice with Incomplete Markets," 2019 Meeting Papers 1388, Society for Economic Dynamics.
    3. Bo Becker & Marcus M Opp & Farzad Saidi, 2022. "Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Removing Capital Requirements for an Asset Class," The Review of Financial Studies, Society for Financial Studies, vol. 35(12), pages 5438-5482.
    4. Michelle L. Barnes, 2016. "Did life insurers benefit from TARP or regulatory forbearance during the financial crisis of 2008–2009?," Working Papers 16-24, Federal Reserve Bank of Boston.
    5. Puriya Abbassi & Rajkamal Iyer & José-Luis Peydró & Paul E. Soto, 2020. "Stressed banks? Evidence from the largest-ever supervisory review," Economics Working Papers 1721, Department of Economics and Business, Universitat Pompeu Fabra.
    6. David Glancy & John R. Krainer & Robert J. Kurtzman & Joseph B. Nichols, 2022. "Intermediary Segmentation in the Commercial Real Estate Market," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(7), pages 2029-2080, October.
    7. Becker, Bo & Opp, Marcus & Saidi, Farzad, 2020. "Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Eliminating Capital Requirements," CEPR Discussion Papers 14373, C.E.P.R. Discussion Papers.
    8. Goel, Anand M. & Thakor, Anjan V., 2015. "Information reliability and welfare: A theory of coarse credit ratings," Journal of Financial Economics, Elsevier, vol. 115(3), pages 541-557.
    9. Ralph S.J. Koijen & Motohiro Yogo, 2017. "Risk of Life Insurers: Recent Trends and Transmission Mechanisms," NBER Working Papers 23365, National Bureau of Economic Research, Inc.
    10. Hu, Xiaolu & Huang, Haozhi & Pan, Zheyao & Shi, Jing, 2019. "Information asymmetry and credit rating: A quasi-natural experiment from China," Journal of Banking & Finance, Elsevier, vol. 106(C), pages 132-152.

  7. Ulrike Malmendier & Marcus Matthias Opp & Farzad Saidi, 2012. "Target Revaluation after Failed Takeover Attempts – Cash versus Stock," NBER Working Papers 18211, National Bureau of Economic Research, Inc.

    Cited by:

    1. Campbell, Robert J. & Limbach, Peter & Reusche, Johannes, 2022. "Once bitten, twice shy: Failed deals and subsequent M&A cautiousness," CFR Working Papers 22-09, University of Cologne, Centre for Financial Research (CFR).
    2. Mariassunta Giannetti & Farzad Saidi, 2019. "Shock Propagation and Banking Structure," The Review of Financial Studies, Society for Financial Studies, vol. 32(7), pages 2499-2540.
    3. Carolina Salva & Xiqian Zhang, 2022. "Financial versus strategic bidders and underpricing as an acquisition motive," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(9-10), pages 1830-1862, October.
    4. Mark Mietzner, 2017. "Why do firms decide to stop their share repurchase programs?," Review of Managerial Science, Springer, vol. 11(4), pages 815-855, October.
    5. Guadalupe, Maria & Cuñat, Vicente & Gine, Mireia, 2017. "Price and Probability: Decomposing the Takeover Effects of Anti-Takeover Provisions," CEPR Discussion Papers 12059, C.E.P.R. Discussion Papers.
    6. Derrien, François & Frésard, Laurent & Slabik, Victoria & Valta, Philip, 2023. "Industry asset revaluations around public and private acquisitions," Journal of Financial Economics, Elsevier, vol. 147(1), pages 243-269.
    7. Christian Bittner & Falko Fecht & Melissa Pala & Farzad Saidi, 2023. "Information Transmission between Banks and the Market for Corporate Control," ECONtribute Discussion Papers Series 250, University of Bonn and University of Cologne, Germany.
    8. Kiesel, Florian & Kolaric, Sascha & Norden, Lars & Schiereck, Dirk, 2021. "To change or not to change? The CDS market response of firms on credit watch," Journal of Banking & Finance, Elsevier, vol. 125(C).
    9. Basnet, Anup & Davis, Frederick & Walker, Thomas & Zhao, Kun, 2021. "The effect of securities class action lawsuits on mergers and acquisitions," Global Finance Journal, Elsevier, vol. 48(C).
    10. Lee, Sangwon, 2022. "The value of official business group affiliation: Evidence from a change in Korean chaebol designation policy," Emerging Markets Review, Elsevier, vol. 52(C).
    11. Kiesel, F., 2017. "Creditwatches and their impact on financial markets," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 84852, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    12. Reyes, Tomas, 2018. "Limited attention and M&A announcements," Journal of Empirical Finance, Elsevier, vol. 49(C), pages 201-222.
    13. Magnus Blomkvist & Timo Korkeamäki, 2017. "Financial versus strategic bidders: Evidence from unsuccessful takeover bids," Post-Print hal-01578935, HAL.
    14. Blomkvist, Magnus & Felixson, Karl & Löflund, Anders & Vyas, Hitesh, 2022. "Strategic underleveraging and acquisitions," Journal of Corporate Finance, Elsevier, vol. 76(C).
    15. Blomkvist, Magnus & Korkeamäki, Timo, 2017. "Financial versus strategic bidders: Evidence from unsuccessful takeover bids," Economics Letters, Elsevier, vol. 159(C), pages 142-144.
    16. Sailesh Tanna & Ibrahim Yousef & Matthias Nnadi, 2020. "Probability of mergers and acquisitions deal failure," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 13(1), pages 1-30, May.
    17. Gerritsen, Dirk F. & Weitzel, Utz, 2017. "Security analyst target prices as reference point and takeover completion," Journal of Behavioral and Experimental Finance, Elsevier, vol. 15(C), pages 1-14.
    18. Shaojie Lai & Xiaoling Pu & Qing (Sophie) Wang & Jianing Zhang, 2023. "Reference prices and withdrawn acquisitions," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(4), pages 4365-4384, October.
    19. Boyson, Nicole M. & Gantchev, Nickolay & Shivdasani, Anil, 2017. "Activism mergers," Journal of Financial Economics, Elsevier, vol. 126(1), pages 54-73.
    20. Jian Huang & Han Yu & Zhen Zhang, 2023. "External vs. In-House Advising Service: Evidence from the Financial Industry Acquisitions," JRFM, MDPI, vol. 16(2), pages 1-21, January.
    21. Fidrmuc, Jana P. & Roosenboom, Peter & Zhang, Eden Quxian, 2018. "Antitrust merger review costs and acquirer lobbying," Journal of Corporate Finance, Elsevier, vol. 51(C), pages 72-97.
    22. Li, Yuanzhi, 2018. "Dissecting bidder security returns on payment methods," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 207-220.
    23. Ruichen Ma, 2023. "The sustainable development trend in environmental, social, and governance issues and stakeholder engagement: Evidence from mergers and acquisitions in China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(6), pages 3159-3173, November.
    24. Davidson Heath & Mark Mitchell, 2023. "Market Returns and Interim Risk in Mergers," Management Science, INFORMS, vol. 69(1), pages 617-635, January.
    25. Ulrike Malmendier, 2018. "Behavioral Corporate Finance," NBER Working Papers 25162, National Bureau of Economic Research, Inc.
    26. Eliezer Fich & Viktoriya Lantushenko & Clemens Sialm, 2019. "Institutional Trading Around M&A Announcements," NBER Working Papers 25814, National Bureau of Economic Research, Inc.
    27. Bittner, Christian & Fecht, Falko & Pala, Melissa & Saidi, Farzad, 2022. "Information transmission between banks and the market for corporate control," Discussion Papers 29/2022, Deutsche Bundesbank.
    28. Li, Di & Taylor, Lucian A. & Wang, Wenyu, 2018. "Inefficiencies and externalities from opportunistic acquirers," Journal of Financial Economics, Elsevier, vol. 130(2), pages 265-290.
    29. Michael Klitzka & Jianan He & Dirk Schiereck, 2022. "The rationality of M&A targets in the choice of payment methods," Review of Managerial Science, Springer, vol. 16(4), pages 933-967, May.
    30. Jun “QJ” Qian & Julie Lei Zhu, 2018. "Return to Invested Capital and the Performance of Mergers and Acquisitions," Management Science, INFORMS, vol. 64(10), pages 4818-4834, October.
    31. Yue Liu, 2019. "Shareholder wealth effects of M&A withdrawals," Review of Quantitative Finance and Accounting, Springer, vol. 52(3), pages 681-716, April.
    32. Zha Giedt, Jenny, 2017. "Why Do Firms Sell Out? Separating Targets’ Motives from Bidders’ Selection of Targets in M&A," MPRA Paper 81014, University Library of Munich, Germany, revised 23 Aug 2017.
    33. Daher, Mai M. & Ismail, Ahmad K., 2018. "Debt covenants and corporate acquisitions," Journal of Corporate Finance, Elsevier, vol. 53(C), pages 174-201.
    34. Frederick Dongchuhl Oh & Junghum Park, 2022. "Managerial incentives and the medium of exchange in takeovers," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(8), pages 4077-4086, December.
    35. Levit, Doron, 2017. "Advising shareholders in takeovers," Journal of Financial Economics, Elsevier, vol. 126(3), pages 614-634.

Articles

  1. Bo Becker & Marcus M Opp & Farzad Saidi, 2022. "Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Removing Capital Requirements for an Asset Class," The Review of Financial Studies, Society for Financial Studies, vol. 35(12), pages 5438-5482.

    Cited by:

    1. Lee, Eugenia Y. & Kim, Young Jun & Lee, Sangyoon, 2023. "Fair value information and regulatory capital management using financial asset reclassification by Korean insurers," Finance Research Letters, Elsevier, vol. 56(C).
    2. Mary Chen & Seung Jung Lee & Daniel Neuhann & Farzad Saidi, 2023. "Less Bank Regulation, More Non-Bank Lending," Finance and Economics Discussion Series 2023-026, Board of Governors of the Federal Reserve System (U.S.).

  2. Florian Hoffmann & Roman Inderst & Marcus Opp, 2021. "Only Time Will Tell: A Theory of Deferred Compensation [Motivating Innovation in Newly Public Firms]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(3), pages 1253-1278.
    See citations under working paper version above.
  3. Malmendier, Ulrike & Opp, Marcus M. & Saidi, Farzad, 2016. "Target revaluation after failed takeover attempts: Cash versus stock," Journal of Financial Economics, Elsevier, vol. 119(1), pages 92-106.
    See citations under working paper version above.
  4. Marcus M. Opp & John Y. Zhu, 2015. "Impatience versus Incentives," Econometrica, Econometric Society, vol. 83(4), pages 1601-1617, July.

    Cited by:

    1. Florian Hoffmann & Roman Inderst & Marcus Opp, 2021. "Only Time Will Tell: A Theory of Deferred Compensation [Motivating Innovation in Newly Public Firms]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(3), pages 1253-1278.
    2. Florian Hoffmann & Roman Inderst & Marcus Opp, 2022. "The Economics of Deferral and Clawback Requirements," Journal of Finance, American Finance Association, vol. 77(4), pages 2423-2470, August.
    3. Fong, Yuk-fai & Li, Jin, 2017. "Relational contracts, limited liability, and employment dynamics," Journal of Economic Theory, Elsevier, vol. 169(C), pages 270-293.
    4. Doruk Cetemen & Felix Zhiyu Feng & Can Urgun, 2019. "Contracting with Non-Exponential Discounting: Moral Hazard and Dynamic Inconsistency," Working Papers 2019-17, Princeton University. Economics Department..
    5. Edward D. Van Wesep & Brian Waters, 2022. "Bonus Season: A Theory of Periodic Labor Markets and Coordinated Bonuses," Management Science, INFORMS, vol. 68(7), pages 5464-5492, July.
    6. Roman Inderst & Marcus Opp & Florian Hoffmann, 2016. "Deferred compensation and risk-taking incentives," 2016 Meeting Papers 674, Society for Economic Dynamics.
    7. Felix Feng, 2018. "Dynamic Compensation under Uncertainty Shocks and Limited Commitment," 2018 Meeting Papers 159, Society for Economic Dynamics.
    8. Eduardo Zilberman & Vinicius Carrasco & Pedro Hemsley, 2019. "Risk sharing contracts with private information and one-sided commitment," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 68(1), pages 53-81, July.

  5. Opp, Marcus M. & Parlour, Christine A. & Walden, Johan, 2014. "Markup cycles, dynamic misallocation, and amplification," Journal of Economic Theory, Elsevier, vol. 154(C), pages 126-161.

    Cited by:

    1. Sungki Hong, 2017. "Customer Capital, Markup Cyclicality, and Amplification," Working Papers 2017-33, Federal Reserve Bank of St. Louis.
    2. Anthony Savagar, 2018. "Measured Productivity with Endogenous Markups and Economic Profits," Studies in Economics 1812, School of Economics, University of Kent.
    3. Giusto, Andrea & İşcan, Talan B., 2019. "Market Power And The Aggregate Saving Rate," Macroeconomic Dynamics, Cambridge University Press, vol. 23(6), pages 2269-2297, September.
    4. Chrysovalantis Amountzias, 2021. "Markup cyclicality, competition and liquidity constraints: Evidence from a panel VAR analysis," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 3696-3718, July.
    5. Sungki Hong, 2019. "Customer Capital, Markup Cyclicality, and Amplification," 2019 Meeting Papers 959, Society for Economic Dynamics.
    6. Xu, Cheng-Gang & Guo, Di & Jiang, Kun & Yang, Xiyi, 2020. "Geographic Clustering and Resource Reallocation Across Firms in Chinese Industries," CEPR Discussion Papers 14506, C.E.P.R. Discussion Papers.
    7. Winston Wei Dou & Yan Ji, 2021. "External Financing and Customer Capital: A Financial Theory of Markups," Management Science, INFORMS, vol. 67(9), pages 5569-5585, September.
    8. Dou, Winston Wei & Ji, Yan & Wu, Wei, 2021. "Competition, profitability, and discount rates," Journal of Financial Economics, Elsevier, vol. 140(2), pages 582-620.
    9. Florin O. Bilbiie & Fabio Ghironi & Marc J. Melitz, 2008. "Monopoly Power and Endogenous Product Variety: Distortions and Remedies," NBER Working Papers 14383, National Bureau of Economic Research, Inc.
    10. Guo, Di & Jiang, Kun & Xu, Chenggang & Yang, Xiyi, 2023. "Geographic clusters, regional productivity and resource reallocation across firms: Evidence from China," Research Policy, Elsevier, vol. 52(2).

  6. Opp, Christian C. & Opp, Marcus M. & Harris, Milton, 2013. "Rating agencies in the face of regulation," Journal of Financial Economics, Elsevier, vol. 108(1), pages 46-61.

    Cited by:

    1. Milton Harris & Christian Opp & Marcus Opp, 2020. "The Aggregate Demand for Bank Capital," NBER Working Papers 27858, National Bureau of Economic Research, Inc.
    2. Rosati, Nicoletta & Bellia, Mario & Matos, Pedro Verga & Oliviera, Vasco, 2019. "Ratings matter: announcements in times of crisis and the dynamics of stock markets," Working Papers 2019-08, Joint Research Centre, European Commission.
    3. Kempf, Elisabeth, 2020. "The job rating game: Revolving doors and analyst incentives," Journal of Financial Economics, Elsevier, vol. 135(1), pages 41-67.
    4. Attig, Najah & Driss, Hamdi & El Ghoul, Sadok, 2021. "Credit ratings quality in uncertain times," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    5. Kladakis, George & Chen, Lei & Bellos, Sotirios K., 2020. "Bank asset and informational quality," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 69(C).
    6. Fischer, Thomas, 2015. "Market structure and rating strategies in credit rating markets – A dynamic model with matching of heterogeneous bond issuers and rating agencies," Journal of Banking & Finance, Elsevier, vol. 58(C), pages 39-56.
    7. Thomas Cooley & Harold Cole, 2014. "Rating Agencies," 2014 Meeting Papers 1124, Society for Economic Dynamics.
    8. Hu, Xiaolu & Shi, Jing & Wang, Lafang & Yu, Jing, 2020. "Foreign ownership in Chinese credit ratings industry: Information revelation or certification?," Journal of Banking & Finance, Elsevier, vol. 118(C).
    9. Mo, Kun & Suvankulov, Farrukh & Griffiths, Sophie, 2021. "Financial distress and commodity hedging: Evidence from Canadian oil firms," Energy Economics, Elsevier, vol. 97(C).
    10. Goldstein, Itay & Yang, Liyan, 2019. "Good disclosure, bad disclosure," Journal of Financial Economics, Elsevier, vol. 131(1), pages 118-138.
    11. Nanda, Vikram & Wu, Wei & Zhou, Xing (Alex), 2019. "Investment Commonality across Insurance Companies: Fire Sale Risk and Corporate Yield Spreads," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 54(6), pages 2543-2574, December.
    12. Ozerturk, Saltuk, 2014. "Upfront versus rating contingent fees: Implications for rating quality," Finance Research Letters, Elsevier, vol. 11(2), pages 91-103.
    13. Matthias Efing & Harald Hau, 2013. "Structured Debt Ratings: Evidence on Conflicts of Interest," Swiss Finance Institute Research Paper Series 13-21, Swiss Finance Institute.
    14. Chen, Zhihua & Wang, Zhen, 2021. "Do firms obtain multiple ratings to hedge against downgrade risk?," Journal of Banking & Finance, Elsevier, vol. 123(C).
    15. A. Seetharaman & Vikas Kumar Sahu & A. S. Saravanan & John Rudolph Raj & Indu Niranjan, 2017. "The Impact of Risk Management in Credit Rating Agencies," Risks, MDPI, vol. 5(4), pages 1-16, September.
    16. Harold Cole & Thomas Cooley, 2023. "Information Acquisition and Rating Agencies," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 50, pages 28-42, October.
    17. Konrad Stahl & Roland Strausz, 2014. "Certification and Market Transparency," SFB 649 Discussion Papers SFB649DP2014-041, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
    18. Jones, Laurence & Alsakka, Rasha & ap Gwilym, Owain & Mantovan, Noemi, 2022. "The impact of regulatory reforms on European bank behaviour: A dynamic structural estimation," European Economic Review, Elsevier, vol. 150(C).
    19. Xudong An & Larry Cordell & Joseph B. Nichols, 2020. "Reputation, Information, and Herding in Credit Ratings: Evidence from CMBS," The Journal of Real Estate Finance and Economics, Springer, vol. 61(3), pages 476-504, October.
    20. Nelson Camanho & Pragyan Deb & Zijun Liu, 2022. "Credit rating and competition," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 2873-2897, July.
    21. Abad, Pilar & Robles, M. Dolores, 2014. "Credit rating agencies and idiosyncratic risk: Is there a linkage? Evidence from the Spanish Market," International Review of Economics & Finance, Elsevier, vol. 33(C), pages 152-171.
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    96. Yun Wang & Yilan Xu, 2015. "Race to the Top: Credit Rating Bias from Competition," Working Papers 2015-05-12, Wang Yanan Institute for Studies in Economics (WISE), Xiamen University, revised 10 Jul 2015.
    97. Donaldson, Jason Roderick & Piacentino, Giorgia, 2018. "Contracting to compete for flows," Journal of Economic Theory, Elsevier, vol. 173(C), pages 289-319.
    98. Gredil, Oleg R. & Kapadia, Nishad & Lee, Jung Hoon, 2022. "On the information content of credit ratings and market-based measures of default risk," Journal of Financial Economics, Elsevier, vol. 146(1), pages 172-204.
    99. Angerer, Martin & Herrmann-Romero, Matthias & Szymczak, Wiebke, 2022. "Losing funds or losing face? Reputation and accountability in the credit rating industry," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    100. Michael Junho Lee, 2018. "Uncertain booms and fragility," Staff Reports 861, Federal Reserve Bank of New York.
    101. Xiangyun Zhou & Yixiang Tian & Ping Zhang & Xiurong Chen, 2018. "Incentive and constraint regulations of rating inflation in collusion over the separation of economic cycles - Markov rating shopping dual reputation model," PLOS ONE, Public Library of Science, vol. 13(10), pages 1-18, October.
    102. Yao, Zhiyong & Gu, Dingwei & Chen, Yongmin, 2017. "Rating deflation versus inflation: On procyclical credit ratings," Pacific-Basin Finance Journal, Elsevier, vol. 41(C), pages 46-64.
    103. Deku, Solomon Y. & Kara, Alper & Marqués-Ibáñez, David, 2019. "Do reputable issuers provide better-quality securitizations?," Working Paper Series 2236, European Central Bank.
    104. Lugo, Stefano, 2023. "Cost of monitoring and risk taking in the money market funds industry," Journal of Financial Intermediation, Elsevier, vol. 53(C).
    105. Javed I. Ahmed, 2014. "Competition in Lending and Credit Ratings," Working Papers 14-01, Office of Financial Research, US Department of the Treasury.
    106. Yang, Ruoke, 2022. "What do we learn from ratings about corporate social responsibility? New evidence of uninformative ratings," Journal of Financial Intermediation, Elsevier, vol. 52(C).
    107. Lugo, Stefano, 2014. "Discretionary ratings and the pricing of subprime mortgage-backed securities," Journal of Banking & Finance, Elsevier, vol. 48(C), pages 248-260.
    108. Lawrence J. White, 2013. "Credit Rating Agencies: An Overview," Working Papers 13-10, New York University, Leonard N. Stern School of Business, Department of Economics.
    109. Sivan Frenkel, 2015. "Repeated Interaction and Rating Inflation: A Model of Double Reputation," American Economic Journal: Microeconomics, American Economic Association, vol. 7(1), pages 250-280, February.
    110. Xia, Han, 2014. "Can investor-paid credit rating agencies improve the information quality of issuer-paid rating agencies?," Journal of Financial Economics, Elsevier, vol. 111(2), pages 450-468.
    111. Hirth, Stefan, 2014. "Credit rating dynamics and competition," Journal of Banking & Finance, Elsevier, vol. 49(C), pages 100-112.
    112. Xinyuan Tao & Chunchi Wu, 2021. "Rating labels and style investing: Evidence from Moody's rating recalibration," Financial Management, Financial Management Association International, vol. 50(4), pages 1047-1084, December.
    113. Dimitrov, Valentin & Palia, Darius & Tang, Leo, 2015. "Impact of the Dodd-Frank act on credit ratings," Journal of Financial Economics, Elsevier, vol. 115(3), pages 505-520.
    114. Roman Inderst & Marcus Opp & Florian Hoffmann, 2016. "Deferred compensation and risk-taking incentives," 2016 Meeting Papers 674, Society for Economic Dynamics.
    115. Rossen Valkanov & Andra Ghent, 2014. "Complexity in Structured Finance: Financial Wizardry or Smoke and Mirrors," 2014 Meeting Papers 104, Society for Economic Dynamics.
    116. Hoppe-Wewetzer, Heidrun C. & Siemering, Christian, 2020. "Advertisement-Financed Credit Ratings," CEPR Discussion Papers 14735, C.E.P.R. Discussion Papers.
    117. Farkas, Miklós, 2021. "Competition, communication and rating bias," Journal of Economic Behavior & Organization, Elsevier, vol. 189(C), pages 637-656.
    118. Wojtowicz, Marcin, 2014. "CDOs and the financial crisis: Credit ratings and fair premia," Journal of Banking & Finance, Elsevier, vol. 39(C), pages 1-13.
    119. Kraft, Pepa, 2015. "Do rating agencies cater? Evidence from rating-based contracts," Journal of Accounting and Economics, Elsevier, vol. 59(2), pages 264-283.
    120. Mo, Guiqing & Gao, Zhi & Zhou, Lei, 2021. "China's no-bailout reform: Impact on bond yields and rating standards," Journal of Banking & Finance, Elsevier, vol. 133(C).
    121. Bo Becker & Marcus Opp, 2013. "Regulatory reform and risk-taking: replacing ratings," NBER Working Papers 19257, National Bureau of Economic Research, Inc.
    122. Ormazabal, Gaizka, 2018. "The Role of Stakeholders in Corporate Governance: A View from Accounting Research," CEPR Discussion Papers 12775, C.E.P.R. Discussion Papers.
    123. Dang, Man & Puwanenthiren, Premkanth & Jones, Edward & Nguyen, Thieu Quang & Vo, Xuan Vinh & Nadarajah, Sivathaasan, 2022. "Strategic archetypes, credit ratings, and cost of debt," Economic Modelling, Elsevier, vol. 114(C).
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  7. Opp, Marcus M., 2012. "Expropriation risk and technology," Journal of Financial Economics, Elsevier, vol. 103(1), pages 113-129.

    Cited by:

    1. Carmona, Guilherme & Carvalho, Luís, 2016. "Repeated two-person zero-sum games with unequal discounting and private monitoring," Journal of Mathematical Economics, Elsevier, vol. 63(C), pages 131-138.
    2. M. Akhtaruzzaman & Nathan Berg & Christopher Hajzler, 2017. "Expropriation Risk and FDI in Developing Countries: Does Return of Capital Dominate Return on Capital?," Staff Working Papers 17-9, Bank of Canada.
    3. Hajzler, Christopher, 2014. "Resource-based FDI and expropriation in developing economies," Journal of International Economics, Elsevier, vol. 92(1), pages 124-146.
    4. Jaakkola, Niko & Spiro, Daniel & van Benthem, Arthur A., 2019. "Finders, keepers?," Journal of Public Economics, Elsevier, vol. 169(C), pages 17-33.
    5. Lustig, Hanno & Syverson, Chad & Van Nieuwerburgh, Stijn, 2011. "Technological change and the growing inequality in managerial compensation," Journal of Financial Economics, Elsevier, vol. 99(3), pages 601-627, March.
    6. Chunmei Lin & Massimo Massa & Hong Zhang, 2014. "Mutual Funds and Information Diffusion: The Role of Country-Level Governance," Tinbergen Institute Discussion Papers 14-079/IV/DSF76, Tinbergen Institute.
    7. Xavier Freixas & Jean-Charles Rochet, 2013. "Taming Systemically Important Financial Institutions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45, pages 37-58, August.
    8. Jean Guillaume Forand & Jan Zapal, 2017. "The Demand and Supply of Favours in Dynamic Relationships," CERGE-EI Working Papers wp605, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    9. Roman Inderst & Marcus Opp & Florian Hoffmann, 2016. "Deferred compensation and risk-taking incentives," 2016 Meeting Papers 674, Society for Economic Dynamics.
    10. Christopher Hajzler & Jonathan Rosborough, 2016. "Government Corruption and Foreign Direct Investment Under the Threat of Expropriation," Staff Working Papers 16-13, Bank of Canada.
    11. Natalia Kovrijnykh, 2008. "Debt Contracts with Short-Term Commitment," 2008 Meeting Papers 558, Society for Economic Dynamics.
    12. Opp, Christian C. & Opp, Marcus M. & Harris, Milton, 2013. "Rating agencies in the face of regulation," Journal of Financial Economics, Elsevier, vol. 108(1), pages 46-61.
    13. Chen, Feiqiong & Zhong, Fangfang & Chen, Yao, 2014. "Outward foreign direct investment and sovereign risks in developing host country," Economic Modelling, Elsevier, vol. 41(C), pages 166-172.

  8. Opp, Marcus M., 2010. "Tariff wars in the Ricardian Model with a continuum of goods," Journal of International Economics, Elsevier, vol. 80(2), pages 212-225, March.

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    1. Chattopadhyay, Subir & Mitka, Malgorzata M., 2019. "Nash equilibrium in tariffs in a multi-country trade model," Journal of Mathematical Economics, Elsevier, vol. 84(C), pages 225-242.
    2. Feng Dai & Songtao Wu & Ling Liang & Zifu Qin, 2016. "Bilateral Trade under Environmental Pressure: Balanced Growth," Journal of Industry, Competition and Trade, Springer, vol. 16(2), pages 209-231, June.
    3. Arnaud Costinot & Dave Donaldson & Jonathan Vogel & Ivan Werning, 2013. "Comparative Advantage and Optimal Trade Policy," NBER Working Papers 19689, National Bureau of Economic Research, Inc.
    4. Cecilia Bellora & Jean-Marc Bourgeon, 2014. "Agricultural Trade, Biodiversity Effects and Food Price Volatility," Working Papers hal-01052971, HAL.
    5. Daniel R. Carroll & Sewon Hur, 2022. "On the Distributional Effects of International Tariffs," Globalization Institute Working Papers 413, Federal Reserve Bank of Dallas, revised 29 Mar 2023.
    6. Roy J. Ruffin, 2014. "Nontraded Goods and Real Exchange Rates in a Multi-Good Ricardian Model," Review of International Economics, Wiley Blackwell, vol. 22(1), pages 105-115, February.
    7. Daniel Carroll & Sewon Hur, 2019. "On the Heterogeneous Welfare Gains and Losses from Trade," 2019 Meeting Papers 1358, Society for Economic Dynamics.
    8. Sascha Tobias Wengerek, 2020. "Share price reactions to tariff imposition announcements in the Trump era - An event study of the trade conflict," Working Papers Dissertations 59, Paderborn University, Faculty of Business Administration and Economics.
    9. Hajime Takatsuka & Dao‐Zhi Zeng, 2022. "Mobile capital, optimal tariff, and tariff war," Review of International Economics, Wiley Blackwell, vol. 30(1), pages 166-204, February.
    10. Azarnert, Leonid V., 2018. "Trade, Luxury Goods, And A Growth-Enhancing Tariff," Macroeconomic Dynamics, Cambridge University Press, vol. 22(6), pages 1462-1474, September.
    11. Takumi Naito, 2019. "A larger country sets a lower optimal tariff," Review of International Economics, Wiley Blackwell, vol. 27(2), pages 643-665, May.
    12. Gustavo de Souza & Naiyuan Hu & Haishi Li & Yuan Mei, 2023. "(Trade) War and Peace: How to Impose International Trade Sanctions," CESifo Working Paper Series 10477, CESifo.
    13. Jean-Marc Malambwe Kilolo, 2018. "An elementary model of export tax war," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 154(2), pages 307-325, May.
    14. Gustavo de Souza & Naiyuan Hu & Haishi Li & Yuan Mei, 2022. "(Trade) War and Peace: How to Impose International Trade Sanctions," Working Paper Series WP 2022-49, Federal Reserve Bank of Chicago.
    15. Tatsuro Iwaisako & Hitoshi Tanaka, 2020. "Tariffs and Foreign Direct Investment in a North South Product Cycle Model," Discussion Papers in Economics and Business 20-08, Osaka University, Graduate School of Economics.
    16. Opp, Marcus M. & Parlour, Christine A. & Walden, Johan, 2014. "Markup cycles, dynamic misallocation, and amplification," Journal of Economic Theory, Elsevier, vol. 154(C), pages 126-161.
    17. Lashkaripour, Ahmad, 2021. "The cost of a global tariff war: A sufficient statistics approach," Journal of International Economics, Elsevier, vol. 131(C).
    18. NAITO Takumi, 2015. "Aid for Trade and Global Growth," Discussion papers 15025, Research Institute of Economy, Trade and Industry (RIETI).

  9. Opp, Marcus M. & Sonnenschein, Hugo F. & Tombazos, Christis G., 2009. "Rybczynski's Theorem in the Heckscher-Ohlin World -- Anything Goes," Journal of International Economics, Elsevier, vol. 79(1), pages 137-142, September.

    Cited by:

    1. James A. Robinson & Ragnar Torvik, 2011. "Institutional Comparative Statics," NBER Working Papers 17106, National Bureau of Economic Research, Inc.
    2. Sebastian Benz & Mario Larch & Markus Zimmer, 2014. "The Structure of Europe: International Input–Output Analysis with Trade in Intermediate Inputs and Capital Flows," Review of Development Economics, Wiley Blackwell, vol. 18(3), pages 461-474, August.
    3. Bjarne S. Jensen, 2011. "Comparative Costs, the Invisible Hand, and Factor Endowments: Ricardo, Ohlin, and Samuelson," DEGIT Conference Papers c016_042, DEGIT, Dynamics, Economic Growth, and International Trade.
    4. Sebastian Benz, 2014. "Essays on Offshoring, Wage Inequality and Innovation," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 56.
    5. Peter H. Egger & Maximilian von Ehrlich & Douglas R. Nelson, 2012. "Migration and Trade," The World Economy, Wiley Blackwell, vol. 35(2), pages 216-241, February.
    6. Opp, Marcus M., 2010. "Tariff wars in the Ricardian Model with a continuum of goods," Journal of International Economics, Elsevier, vol. 80(2), pages 212-225, March.
    7. Agyeman, Domena A. & Ochuodho, Thomas O., 2021. "Factor endowment and structural change in Kentucky forest industry," Forest Policy and Economics, Elsevier, vol. 131(C).
    8. Noel Gaston & Douglas R. Nelson, 2013. "Bridging Trade Theory And Labour Econometrics: The Effects Of International Migration," Journal of Economic Surveys, Wiley Blackwell, vol. 27(1), pages 98-139, February.

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