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Ruediger Fahlenbrach

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. Fahlenbrach, Rüdiger & Stulz, René M., 2011. "Bank CEO incentives and the credit crisis," Journal of Financial Economics, Elsevier, vol. 99(1), pages 11-26, January.

    Mentioned in:

    1. Freddie and the Crisis
      by Jonathan Finegold in Economic Thought on 2012-11-13 19:00:33
    2. The Price of Inequality: the Good, the Bad, and the Ugly
      by Jonathan Finegold in Economic Thought on 2012-12-22 22:00:07

RePEc Biblio mentions

As found on the RePEc Biblio, the curated bibliography of Economics:
  1. Rüdiger Fahlenbrach & Kevin Rageth & René M. Stulz, 2020. "How Valuable is Financial Flexibility when Revenue Stops? Evidence from the COVID-19 Crisis," NBER Working Papers 27106, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. > Economics of Welfare > Health Economics > Economics of Pandemics > Specific pandemics > Covid-19 > Economic consequences > Stock market

Working papers

  1. Fahlenbrach, Rudiger & Ko, Minsu & Stulz, Rene M., 2024. "Bank Payout Policy, Regulation, and Politics," Working Paper Series 2024-11, Ohio State University, Charles A. Dice Center for Research in Financial Economics.

    Cited by:

    1. Fulvia Fringuellotti & Thomas Kroen, 2024. "Payout Restrictions and Bank Risk-Shifting," Staff Reports 1123, Federal Reserve Bank of New York.

  2. Davydova, Daria & Fahlenbrach, Rudiger & Sanz, Leandro & Stulz, Rene M., 2024. "Why Do Startups Become Unicorns Instead of Going Public?," Working Paper Series 2024-10, Ohio State University, Charles A. Dice Center for Research in Financial Economics.

    Cited by:

    1. Andres Almazan & Nathan Swem & Sheridan Titman & Gregory Weitzner, 2025. "Access to Capital and the IPO Decision: An Analysis of US Private Firms," Finance and Economics Discussion Series 2025-102, Board of Governors of the Federal Reserve System (U.S.).

  3. Daria Davydova & Rüdiger Fahlenbrach & Leandro Sanz & René M. Stulz, 2022. "The Unicorn Puzzle," Swiss Finance Institute Research Paper Series 22-80, Swiss Finance Institute.
    • Davydova, Daria & Fahlenbrach, Rudiger & Sanz, Leandro & Stulz, Rene M., 2022. "The Unicorn Puzzle," Working Paper Series 2022-12, Ohio State University, Charles A. Dice Center for Research in Financial Economics.

    Cited by:

    1. Kok-Bing Poh & Fang-Yi Lo & Kun-Huang Huarng & Ing. Tatiana Masárová, 2024. "Legitimacy theory for digitalization and international strategy of new venture capitalization," International Entrepreneurship and Management Journal, Springer, vol. 20(4), pages 3349-3372, December.

  4. Rüdiger Fahlenbrach & Kevin Rageth & René M. Stulz, 2020. "How Valuable is Financial Flexibility When Revenue Stops? Evidence from the COVID-19 Crisis," Swiss Finance Institute Research Paper Series 20-37, Swiss Finance Institute.

    Cited by:

    1. Diana Alhajjeah & Mustafa Besim, 2024. "Firms’ Capital Structure during Crises: Evidence from the United Kingdom," Sustainability, MDPI, vol. 16(13), pages 1-25, June.
    2. Bedendo, Mascia & Garcia-Appendini, Emilia & Siming, Linus, 2023. "Managers' cultural origin and corporate response to an economic shock," Journal of Corporate Finance, Elsevier, vol. 80(C).
    3. Lubos Pastor & M. Blair Vorsatz, 2020. "Mutual Fund Performance and Flows During the COVID-19 Crisis," Working Papers 2020-96, Becker Friedman Institute for Research In Economics.
    4. Haque, Sharjil & Varghese, Richard, 2023. "Firms’ rollover risk, capital structure and unequal exposure to aggregate shocks," Journal of Corporate Finance, Elsevier, vol. 80(C).
    5. Gabriel Jiménez & Luc Laeven & David Martínez-Miera & José-Luis Peydró, 2023. "Public Guarantees and Private Banks’ Incentives: Evidence from the COVID-19 Crisis," Working Papers 2318, Banco de España.
    6. Murillo Campello & Gaurav Kankanhalli & Pradeep Muthukrishnan, 2020. "Corporate Hiring under COVID-19: Labor Market Concentration, Downskilling, and Income Inequality," NBER Working Papers 27208, National Bureau of Economic Research, Inc.
    7. Pattanaporn Chatjuthamard & Pavitra Jindahra & Pattarake Sarajoti & Sirimon Treepongkaruna, 2021. "The effect of COVID‐19 on the global stock market," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(3), pages 4923-4953, September.
    8. Huang, Hao & Zhao, Ling, 2024. "Does digital innovation help firms navigate the COVID-19 pandemic? Evidence from China," Emerging Markets Review, Elsevier, vol. 62(C).
    9. Wang, Zhimin & Zhu, Xiaodi & Ding, Ruixin, 2025. "National culture’s influence on firm performance in bad times: Evidence from the COVID-19 crisis and GFC," Research in International Business and Finance, Elsevier, vol. 79(C).
    10. Antonio Falato & Itay Goldstein & Ali Hortaçsu, 2020. "Financial Fragility in the COVID-19 Crisis: The Case of Investment Funds in Corporate Bond Markets," Working Papers 2020-98, Becker Friedman Institute for Research In Economics.
    11. Jiménez, Gabriel & Laeven, Luc & Martinez-Miera, David & Peydró, José-Luis, 2024. "Public guarantees, private banks’ incentives, and corporate outcomes: evidence from the COVID-19 crisis," Working Paper Series 2913, European Central Bank.
    12. Tokbolat, Yerzhan & Le, Hang, 2022. "Covid-19: Corporate diversification and post-crash returns," Finance Research Letters, Elsevier, vol. 46(PB).
    13. Jiang, Christine & Zhang, Xiaori & Hu, Bill, 2024. "Government reporting credibility as immunity: Evidence from a public health event," Journal of Multinational Financial Management, Elsevier, vol. 73(C).
    14. Rehman, Obaid Ur & Wu, Kai & Liu, Jia, 2024. "COVID-19 exposure, financial flexibility, and corporate leverage adjustment," International Review of Economics & Finance, Elsevier, vol. 96(PB).
    15. Zheng, Huanhuan, 2023. "Sovereign debt responses to the COVID-19 pandemic," Journal of International Economics, Elsevier, vol. 143(C).
    16. Zheng, Michael, 2022. "Is cash the panacea of the COVID-19 pandemic: Evidence from corporate performance," Finance Research Letters, Elsevier, vol. 45(C).
    17. D’Ercole, Francesco & Wagner, Alexander F., 2023. "The green energy transition and the 2023 Banking Crisis," Finance Research Letters, Elsevier, vol. 58(PC).
    18. Rouatbi, Wael & Demir, Ender & Kizys, Renatas & Zaremba, Adam, 2021. "Immunizing markets against the pandemic: COVID-19 vaccinations and stock volatility around the world," International Review of Financial Analysis, Elsevier, vol. 77(C).
    19. Edward I. Altman & Rafał Sieradzki & Michał Thlon, 2023. "Assessing the impact of economic and financial shocks on SME credit quality: a scenario analysis," Bank i Kredyt, Narodowy Bank Polski, vol. 54(2), pages 89-128.
    20. David C. Ling & Chongyu Wang & Tingyu Zhou, 2023. "How do institutional investors react to local shocks during a crisis? A test using the COVID‐19 pandemic," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(5), pages 1246-1284, September.
    21. Jiang, Hao & Li, Yi & Sun, Zheng & Wang, Ashley, 2022. "Does mutual fund illiquidity introduce fragility into asset prices? Evidence from the corporate bond market," Journal of Financial Economics, Elsevier, vol. 143(1), pages 277-302.
    22. Soku Byoun, 2021. "Financial flexibility demand and corporate financial decisions," The Financial Review, Eastern Finance Association, vol. 56(3), pages 481-509, August.
    23. Getu Hailu, 2021. "COVID‐19 and food processing in Canada," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 69(2), pages 177-187, June.
    24. Hu, Jiamin & Li, Kailun & Xia, Yifei & Zhang, Jianing, 2023. "Gender diversity and financial flexibility: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 90(C).
    25. Styliani Panetsidou & Angelos Synapis, 2025. "Equity financing during the Covid-19 economic downturn," Review of Quantitative Finance and Accounting, Springer, vol. 64(3), pages 1391-1430, April.
    26. Chen, Joy & Cheng, Zijun & Gong, Robin Kaiji & Li, Jinlin, 2022. "Riding out the COVID-19 storm: How government policies affect SMEs in China," China Economic Review, Elsevier, vol. 75(C).
    27. Brotherhood, Luiz & Jerbashian, Vahagn, 2020. "Firm behavior during an epidemic," GLO Discussion Paper Series 629, Global Labor Organization (GLO).
    28. Dunbar, Kwamie, 2022. "Impact of the COVID-19 event on U.S. banks’ financial soundness," Research in International Business and Finance, Elsevier, vol. 59(C).
    29. Ding, Wenzhi & Levine, Ross & Lin, Chen & Xie, Wensi, 2021. "Corporate immunity to the COVID-19 pandemic," Journal of Financial Economics, Elsevier, vol. 141(2), pages 802-830.
    30. Augustin, Patrick & Sokolovski, Valeri & Subrahmanyam, Marti G. & Tomio, Davide, 2022. "In sickness and in debt: The COVID-19 impact on sovereign credit risk," Journal of Financial Economics, Elsevier, vol. 143(3), pages 1251-1274.
    31. Valentin Haddad & Alan Moreira & Tyler Muir, 2021. "When Selling Becomes Viral: Disruptions in Debt Markets in the COVID-19 Crisis and the Fed’s Response [Funding value adjustments]," The Review of Financial Studies, Society for Financial Studies, vol. 34(11), pages 5309-5351.
    32. Chung, Hae Jin & Jhang, Hogyu & Ryu, Doojin, 2023. "Impacts of COVID-19 pandemic on corporate cash holdings: Evidence from Korea," Emerging Markets Review, Elsevier, vol. 56(C).
    33. Bouri, Elie & Jalkh, Naji & Demir, Ender, 2025. "Higher-order co-moment contagion during Trump’s second presidential term: A trade policy uncertainty perspective," Research in International Business and Finance, Elsevier, vol. 79(C).
    34. Fung, Derrick W.H. & Lee, Wing Yan & Yang, Charles C., 2025. "Surviving the storm: Evaluating the role of enterprise risk management in property and liability insurers' performance during the COVID-19 pandemic," Journal of Corporate Finance, Elsevier, vol. 91(C).
    35. Jing Wu & Chee Yoong Liew, 2024. "Revisiting the nexus between corporate social responsibility and corporate value: Evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 2066-2085, May.
    36. Chen, I-Ju & Thi Dieu Nguyen, Hang, 2025. "Corporate diversification, financial flexibility and firm performance during the Covid-19 pandemic," The Quarterly Review of Economics and Finance, Elsevier, vol. 104(C).
    37. Falk Bräuning & José L. Fillat & J. Christina Wang, 2024. "Did High Leverage Render Small Businesses Vulnerable to the COVID‐19 Shock?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(6), pages 1367-1403, September.
    38. Omrane Guedhami & April Knill & William L. Megginson & Lemma W. Senbet, 2022. "The dark side of globalization: Evidence from the impact of COVID-19 on multinational companies," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(8), pages 1603-1640, October.
    39. Liu, Qing & Wang, Shouyang & Sui, Cong, 2023. "Risk appetite and option prices: Evidence from the Chinese SSE50 options market," International Review of Financial Analysis, Elsevier, vol. 86(C).
    40. Isil Erel & Jack Liebersohn, 2020. "Does FinTech Substitute for Banks? Evidence from the Paycheck Protection Program," NBER Working Papers 27659, National Bureau of Economic Research, Inc.
    41. Burak Pirgaip, 2021. "Pan(dem)ic reactions in Turkish stock market: evidence from share repurchases," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 11(2), pages 381-402, June.
    42. Liang Ma, 2024. "What drives closed‐end fund discounts? Evidence from COVID‐19," Financial Management, Financial Management Association International, vol. 53(1), pages 119-143, March.
    43. Fang, Yi & Shao, Zhiquan & Zhao, Yang, 2023. "Risk spillovers in global financial markets: Evidence from the COVID-19 crisis," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 821-840.
    44. Roddy Allan & Ervi Liusman & Teddy Lu & Desmond Tsang, 2021. "The COVID-19 Pandemic and Commercial Property Rent Dynamics," JRFM, MDPI, vol. 14(8), pages 1-24, August.
    45. Zaghini, Andrea, 2021. "The Covid pandemic in the market: Infected, immune and cured bonds," CFS Working Paper Series 653, Center for Financial Studies (CFS).
    46. Ha, JinGi, 2025. "Digital communication and informed trading: Evidence from social distancing orders," Finance Research Letters, Elsevier, vol. 74(C).
    47. Taylor A Begley & Daniel Weagley, 2023. "Firm Finances and the Spread of COVID-19: Evidence from Nursing Homes," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 12(1), pages 1-35.
    48. Rania Missaoui & Aymen Ajina, 2026. "Firm dynamics in corrupt environments: the case of the BRICS countries," SN Business & Economics, Springer, vol. 6(2), pages 1-38, February.
    49. MD ASIF UL ALAM & Erik Devos & Zifeng Feng, 2023. "Firm reaction to geopolitical crises: Evidence from the Russia‐Ukraine conflict," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 46(S1), pages 163-182, December.
    50. Samet Gunay & Walid Bakry & Somar Al-Mohamad, 2021. "The Australian Stock Market’s Reaction to the First Wave of the COVID-19 Pandemic and Black Summer Bushfires: A Sectoral Analysis," JRFM, MDPI, vol. 14(4), pages 1-19, April.
    51. Avijit Bansal & Balagopal Gopalakrishnan & Joshy Jacob & Pranjal Srivastava, 2022. "Impact of operational fragility on stock returns: Lessons from COVID‐19 crisis," International Review of Finance, International Review of Finance Ltd., vol. 22(2), pages 365-398, June.
    52. Acharya, Viral & Engle, Robert & Steffen, Sascha, 2021. "Why did bank stocks crash during COVID-19?," CEPR Discussion Papers 15901, C.E.P.R. Discussion Papers.
    53. Kotcharin, Suntichai & Maneenop, Sakkakom & Jaroenjitrkam, Anutchanat, 2023. "The impact of government policy responses on airline stock return during the COVID-19 crisis," Research in Transportation Economics, Elsevier, vol. 99(C).
    54. Bruno Albuquerque, 2021. "Corporate debt booms, financial constraints and the investment nexus," Bank of England working papers 935, Bank of England.
    55. Joy Chen & Zijun Cheng & Robin Kaiji Gong & Jinlin Li, 2020. "Riding Out the COVID-19 Storm: How Government Policies Affect SMEs in China," HKUST CEP Working Papers Series 202006, HKUST Center for Economic Policy.
    56. Hasan, Iftekhar & Marra, Miriam & To, Thomas Y. & Wu, Eliza & Zhang, Gaiyan, 2023. "COVID-19 Pandemic and Global Corporate CDS Spreads," Journal of Banking & Finance, Elsevier, vol. 147(C).
    57. Luu, Ellie & Xu, Fangming & Zheng, Liyi, 2023. "Short-selling activities in the time of COVID-19," The British Accounting Review, Elsevier, vol. 55(4).
    58. Hasan, Iftekhar & Politsidis, Panagiotis N. & Sharma, Zenu, 2021. "Global syndicated lending during the COVID-19 pandemic," MPRA Paper 106942, University Library of Munich, Germany.
    59. Lavery, Paul & Wilson, Nick, 2024. "The performance of private equity portfolio companies during the COVID-19 pandemic," Journal of Corporate Finance, Elsevier, vol. 89(C).
    60. Elena Carletti & Tommaso Oliviero & Marco Pagano & Loriana Pelizzon, 2020. "The COVID-19 Shock and Equity Shortfall: Firm-level Evidence from Italy," Working Papers 450, University of Milano-Bicocca, Department of Economics, revised Oct 2020.
    61. Xiaoling Chu & Chiuling Lu & Desmond Tsang, 2021. "Geographic Scope and Real Estate Firm Performance during the COVID-19 Pandemic," JRFM, MDPI, vol. 14(7), pages 1-16, July.
    62. Jappelli, Ruggero & Pelizzon, Loriana & Plazzi, Alberto, 2021. "The core, the periphery, and the disaster: Corporate-sovereign nexus in COVID-19 times," SAFE Working Paper Series 331, Leibniz Institute for Financial Research SAFE.
    63. Ling Jin & Jun Hyeok Choi & Saerona Kim & Kwanghee Cho, 2022. "Slack Resources, Corporate Performance, and COVID-19 Pandemic: Evidence from China," IJERPH, MDPI, vol. 19(21), pages 1-21, November.
    64. Boubaker, Sabri & Goodell, John W. & Kumar, Satish & Sureka, Riya, 2023. "COVID-19 and finance scholarship: A systematic and bibliometric analysis," International Review of Financial Analysis, Elsevier, vol. 85(C).
    65. Amine Ben Amar & Néjib Hachicha & Nihel Halouani, 2021. "Is there a shift contagion among stock markets during the COVID-19 crisis? Further insights from TYDL causality test," International Review of Applied Economics, Taylor & Francis Journals, vol. 35(2), pages 188-209, March.
    66. Yarovaya, Larisa & Brzeszczyński, Janusz & Goodell, John W. & Lucey, Brian & Lau, Chi Keung Marco, 2022. "Rethinking financial contagion: Information transmission mechanism during the COVID-19 pandemic," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 79(C).
    67. Li Cui & Pamela Kent & Sujin Kim & Shan Li, 2021. "Accounting conservatism and firm performance during the COVID‐19 pandemic," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(4), pages 5543-5579, December.
    68. Uddin, Mohammad Riaz & Hasan, Mostafa Monzur & Abadi, Nour, 2022. "Do intangible assets provide corporate resilience? New evidence from infectious disease pandemics," Economic Modelling, Elsevier, vol. 110(C).
    69. Liu,Yu & Peng,Mike W. & Wei,Zuobao & Xu,Jian & Xu,L. Colin, 2021. "Organizational Resources, Country Institutions, and National Culture behind Firm Survival and Growth during COVID-19," Policy Research Working Paper Series 9633, The World Bank.
    70. Li, Ying & Huang, Qianqian & Yuan, Tao, 2025. "Corporate voluntary disclosure via WeChat," Journal of Banking & Finance, Elsevier, vol. 176(C).
    71. Hao, Xiangchao & Sun, Qinru & Xie, Fang, 2022. "The COVID-19 pandemic, consumption and sovereign credit risk: Cross-country evidence," Economic Modelling, Elsevier, vol. 109(C).
    72. Yunfeng Shang & Pan Qi & Hui Chen & Qin Yang & Yuan Chen, 2023. "COVID-19 and its impact on tourism sectors: implications for green economic recovery," Economic Change and Restructuring, Springer, vol. 56(2), pages 941-958, April.
    73. Bae, Kee-Hong & El Ghoul, Sadok & Gong, Zhaoran (Jason) & Guedhami, Omrane, 2021. "Does CSR matter in times of crisis? Evidence from the COVID-19 pandemic," Journal of Corporate Finance, Elsevier, vol. 67(C).
    74. Quang Khai Nguyen, 2024. "How Does Financial Flexibility Strategy Impact on Risk Management Effectiveness?," SAGE Open, , vol. 14(2), pages 21582440241, May.
    75. Ru, Hong & Yang, Endong & Zou, Kunru, 2020. "Combating the COVID-19 pandemic: The role of the SARS imprint," BOFIT Discussion Papers 15/2020, Bank of Finland Institute for Emerging Economies (BOFIT).
    76. Garel, Alexandre & Petit-Romec, Arthur, 2021. "Investor rewards to environmental responsibility: Evidence from the COVID-19 crisis," Journal of Corporate Finance, Elsevier, vol. 68(C).
    77. Deniz Igan & Ali Mirzaei & Tomoe Moore, 2022. "A shot in the arm: stimulus packages and firm performance during Covid-19," BIS Working Papers 1014, Bank for International Settlements.
    78. Fang,Sheng & Goh,Chorching & Li,Shaomin & Xu,L. Colin, 2022. "Firm Resources, Strategies, and Survival and Growth during COVID-19: Evidence from Two-WaveGlobal Surveys," Policy Research Working Paper Series 9997, The World Bank.
    79. Wen, Chufu & Wen, Fenghua & Lin, Diyue & Zhao, Lili, 2024. "Multinational corporations and share pledging of the controlling shareholder," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    80. Zaremba, Adam & Kizys, Renatas & Tzouvanas, Panagiotis & Aharon, David Y. & Demir, Ender, 2021. "The quest for multidimensional financial immunity to the COVID-19 pandemic: Evidence from international stock markets," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 71(C).
    81. Mathur, Aakriti & Sengupta, Rajeswari & Pratap, Bhanu, 2024. "Equity market responses to surprise Covid-19 lockdowns: The role of pandemic-driven uncertainty," Journal of Asian Economics, Elsevier, vol. 91(C).
    82. Itay Goldstein & Ralph S J Koijen & Holger M Mueller, 2021. "COVID-19 and Its Impact on Financial Markets and the Real Economy [A model of endogenous risk intolerance and LSAPs: Asset prices and aggregate demand in a “COVID-19” shock]," The Review of Financial Studies, Society for Financial Studies, vol. 34(11), pages 5135-5148.
    83. Viviana Costa & Maria Alberta Oliveira & Carlos Santos, 2024. "Assessing the Pandemic Aviation Crisis: Speculative Behavior, Government Bail Outs, and Accommodative Monetary Policy," Economies, MDPI, vol. 12(10), pages 1-24, September.
    84. Blagica Petreski & Marjan Petreski & Bojan Srbinoski, 2020. "The potential of export-oriented companies to contribute to post-Covid-19 economic recovery in North Macedonia," Finance Think Policy Studies 2020-12/33, Finance Think - Economic Research and Policy Institute.
    85. Glossner, Simon & Matos, Pedro Pinto & Ramelli, Stefano & Wagner, Alexander F., 2022. "Do institutional investors stabilize equity markets in crisis periods? Evidence from COVID-19," CEPR Discussion Papers 15070, C.E.P.R. Discussion Papers.
    86. David Aristei & Manuela Gallo, 2024. "Green management, access to credit, and firms’ vulnerability to the COVID-19 crisis," Small Business Economics, Springer, vol. 62(1), pages 179-211, January.
    87. Gianfranco Gianfrate & Mirco Rubin & Dario Ruzzi & Mathijs Dijk, 2024. "On the resilience of ESG firms during the COVID-19 crisis: evidence across countries and asset classes," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(8), pages 1069-1084, October.
    88. Atanasova, Christina & Willeboordse, Frederick H., 2025. "The impact of corporate diversification on liquidity management: Evidence from lines of credit," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 101(C).
    89. Niu, Ruiyang & Chen, Lin & Jin, Liang & Xie, Guanghua & Zhao, Longfeng, 2024. "Does managerial bank relationship network matter corporate resilience? Evidence from the COVID-19 crisis," International Review of Economics & Finance, Elsevier, vol. 89(PA), pages 855-877.
    90. Ho, Tuan & Kim, Kirak & Li, Yang & Xu, Fangming, 2023. "Does real flexibility help firms navigate the COVID-19 pandemic?," The British Accounting Review, Elsevier, vol. 55(4).
    91. Simoens, Mathieu & Vander Vennet, Rudi, 2022. "Does diversification protect European banks’ market valuations in a pandemic?," Finance Research Letters, Elsevier, vol. 44(C).
    92. Mazur, Mieszko & Dang, Man & Vo, Thuy Anh Thi, 2020. "Dividend Policy and the COVID-19 Crisis," MPRA Paper 108765, University Library of Munich, Germany.
    93. Christie, Nick & Jankensgård, Håkan & Marinelli, Nicoletta, 2024. "The Black Swan problem: The role of capital, liquidity and operating flexibility," International Review of Financial Analysis, Elsevier, vol. 91(C).
    94. Liang, Shangkun & Niu, Yuhao & Yang, Dan & Liu, Xuejuan, 2023. "Dividend payouts under a societal crisis: Financial constraints or signaling?," International Review of Financial Analysis, Elsevier, vol. 88(C).
    95. Jin, Shaorong & Xiong, Ruoyu & Peng, Huan & Tang, Shiyu, 2025. "ESG performance and private enterprise resilience: Evidence from Chinese financial markets," International Review of Financial Analysis, Elsevier, vol. 98(C).
    96. Elham Daadmehr, 2024. "Workplace sustainability or financial resilience? Composite-financial resilience index," Risk Management, Palgrave Macmillan, vol. 26(2), pages 1-35, May.
    97. Tuna Can Güleç & Elif Erer & Selim Duramaz, 2026. "Cryptocurrencies as shock transmitters: dynamic connectedness, hedging strategies, and portfolio management across financial markets for higher-order moments," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 12(1), pages 1-58, December.
    98. Diseko, Nomathemba Veronica & Bonga-Bonga, Lumengo & Manguzvane, Mathias Mandla, 2015. "Dynamic portfolio rebalancing with safe-haven assets," MPRA Paper 123408, University Library of Munich, Germany.
    99. Brent H. Meyer & Brian Prescott & Xuguang Simon Sheng, 2020. "The Impact of the COVID-19 Pandemic on Business Expectations," Working Papers 2020-006, The George Washington University, The Center for Economic Research.
    100. Erel, Isil & Liebersohn, Jack, 2022. "Can FinTech reduce disparities in access to finance? Evidence from the Paycheck Protection Program," Journal of Financial Economics, Elsevier, vol. 146(1), pages 90-118.
    101. Chan, Kam Fong & Chen, Zhuo & Wen, Yuanji & Xu, Tong, 2022. "COVID-19 vaccines and global stock markets," Finance Research Letters, Elsevier, vol. 47(PB).
    102. Ducret, Romain, 2021. "Investors' perception of business group membership during an economic crisis : Evidence from the COVID-19 pandemic," FSES Working Papers 524, Faculty of Economics and Social Sciences, University of Freiburg/Fribourg Switzerland.
    103. Dusko Ursic & Andrej Smogavc Cestar, 2022. "Crisis Management and CSR in Slovenian Companies: The Impact of the COVID-19 Pandemic," Sustainability, MDPI, vol. 14(5), pages 1-16, February.
    104. Peterburgsky, Stanley, 2024. "An industry-level analysis of a pandemic's impact on stock market risk," International Review of Economics & Finance, Elsevier, vol. 95(C).
    105. Dutordoir, Marie & Shemesh, Joshua & Veld, Chris & Wang, Qing, 2024. "Can existing corporate finance theories explain security offerings during the COVID-19 pandemic?," Journal of Empirical Finance, Elsevier, vol. 79(C).
    106. Huang, Zengjian & Wang, Leyi & Meng, Jing, 2024. "Does rural e-commerce improve the economic resilience of family farms?," International Review of Economics & Finance, Elsevier, vol. 95(C).
    107. Meghana Ayyagari & Yuxi Cheng & Ariel Weinberger, 2022. "Surviving Pandemics: The Role of Spillovers," CESifo Working Paper Series 9891, CESifo.
    108. Rabah Arezki & Caleb Cho & Ha Nguyen & Kate Nguyen & Anh Pham, 2022. "Corporate Debt and Stock Returns: Evidence from U.S. Firms During the 2020 Oil Crash," CESifo Working Paper Series 9770, CESifo.
    109. Greppmair, Stefan & Jank, Stephan & Smajlbegovic, Esad, 2023. "On the importance of fiscal space: Evidence from short sellers during the COVID-19 pandemic," Journal of Banking & Finance, Elsevier, vol. 147(C).
    110. Liu, Hengxu & Zhao, Wenxi, 2023. "The role of political connections in bad times: Evidence from the COVID-19 pandemic," Economics Letters, Elsevier, vol. 224(C).
    111. Aono, Kohei & Hori, Keiichi, 2023. "Stock price reactions to corporate cash holdings in mitigating predictable and unpredictable negative shocks," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    112. Zhang, Chao & Song, Xiaoxiao & Wang, Cancan, 2025. "The bright side of analyst coverage: Evidence from stock price resilience during COVID-19," Research in International Business and Finance, Elsevier, vol. 73(PA).
    113. Rahman, Md Lutfur & Al Mamun, Mohammed Abdullah, 2021. "How resilient are the Asia Pacific financial markets against a global pandemic?," Pacific-Basin Finance Journal, Elsevier, vol. 69(C).
    114. Tihana Škrinjarić, 2021. "Profiting on the Stock Market in Pandemic Times: Study of COVID-19 Effects on CESEE Stock Markets," Mathematics, MDPI, vol. 9(17), pages 1-20, August.
    115. Banerjee, Pradip & Dhole, Sandip & Mishra, Sagarika, 2023. "Operating performance during the COVID-19 pandemic: Is there a business group advantage?," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    116. Demir, Ender & Danisman, Gamze Ozturk, 2021. "Banking sector reactions to COVID-19: The role of bank-specific factors and government policy responses," Research in International Business and Finance, Elsevier, vol. 58(C).
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    2. Cui, Huan-yu & Cao, Yue-qun, 2025. "Environmental justice, ethical transformation: Environmental courts and corporate ESG performance," Journal of Asian Economics, Elsevier, vol. 100(C).
    3. Khan, Sarfraz & Wald, John K., 2025. "Which governance mechanisms matter for firm pollution?," The British Accounting Review, Elsevier, vol. 57(5).
    4. Chaudhry, Neeru & Gupta, Aastha, 2023. "Do derivatives benefit shareholders? Evidence from India," Finance Research Letters, Elsevier, vol. 55(PB).
    5. Borja Larrain & Peter Roosenboom & Giorgo Sertsios & Francisco Urzúa, 2024. "Ownership Concentration and Firm Value: New Evidence from Owner Stakes in IPOs," Management Science, INFORMS, vol. 70(7), pages 4441-4464, July.
    6. Elżbieta Bukalska & Jakub Czerniak & Irmina Florek, 2025. "Does CEO Ownership in High-Tech Companies Affect Corporate Financial Decisions?," Central European Business Review, Prague University of Economics and Business, vol. 2025(4), pages 81-106.
    7. Zeng, Huixiang & Ren, Lei & Chen, Xiaohong & Zhou, Qiong & Zhang, Tao & Cheng, Xu, 2024. "Punishment or deterrence? Environmental justice construction and corporate equity financing––Evidence from environmental courts," Journal of Corporate Finance, Elsevier, vol. 86(C).
    8. Irina I. Smotritskaya & Nadezhda D. Frolova, 2023. "Insider ownership and performance of Russian public companies: Econometric estimates," Upravlenets, Ural State University of Economics, vol. 14(3), pages 2-16, July.
    9. Florackis, Chris & Kanas, Angelos & Kostakis, Alexandros & Sainani, Sushil, 2020. "Idiosyncratic risk, risk-taking incentives and the relation between managerial ownership and firm value," European Journal of Operational Research, Elsevier, vol. 283(2), pages 748-766.
    10. Bianchi, Milo & Luomaranta, Henri, 2021. "Agency Costs in Small Firms," TSE Working Papers 21-1252, Toulouse School of Economics (TSE), revised Sep 2025.
    11. Li, Weiping & Li, Tingyu & Jiang, Dequan & Zhang, Xuezhi, 2024. "Bridging the information gap: How digitalization shapes stock price informativeness," Journal of Financial Stability, Elsevier, vol. 71(C).
    12. Chaudhry, Neeru & Dhawan, Priya, 2025. "Does firms' commitment towards CSR influence idiosyncratic volatility? Evidence from India," Emerging Markets Review, Elsevier, vol. 68(C).
    13. Wood, Steven, 2025. "Owners vs. agents: A global examination of the behavior of owner operators," International Review of Financial Analysis, Elsevier, vol. 103(C).
    14. Maria Boutchkova & Diego Cueto & Angelica Gonzalez, 2022. "Test power properties of within-firm estimators of ownership and board-related explanatory variables with low time variation," Review of Quantitative Finance and Accounting, Springer, vol. 59(3), pages 1215-1269, October.

  6. Rüdiger Fahlenbrach & Hyemin Kim & Angie Low, 2018. "The Importance of Network Recommendations in the Director Labor Market," Swiss Finance Institute Research Paper Series 18-28, Swiss Finance Institute, revised Apr 2018.

    Cited by:

    1. Felix von Meyerinck & Alexandra Niessen-Ruenzi & Markus Schmid & Steven Davidoff Solomon, 2019. "As California goes, so goes the nation? Board gender quotas and the legislation of non-economic values," Working Papers on Finance 1904, University of St. Gallen, School of Finance, revised Dec 2019.

  7. Rüdiger Fahlenbrach & Robert Prilmeier & René M. Stulz, 2016. "Why Does Fast Loan Growth Predict Poor Performance for Banks?," Swiss Finance Institute Research Paper Series 16-24, Swiss Finance Institute.

    Cited by:

    1. Natalya Zelenyuk & Robert Faff & Shams Pathan, 2021. "The impact of voluntary capital adequacy disclosure on bank lending and liquidity creation," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(3), pages 3915-3935, September.
    2. Mikel Bedayo & Gabriel Jiménez & José-Luis Peydró & Raquel Vegas, 2020. "Screening and loan origination time: lending standards, loan defaults and bank failures," Working Papers 2037, Banco de España.
    3. Sergio Correia & Stephan Luck & Emil Verner, 2025. "Failing Banks," Papers 2506.06082, arXiv.org.
    4. Berger, Allen & Gao, Haoyu & Li, Xinming & Peng, Yuchao & Xie, Bingyuan, 2025. "The Perils of Speed: Branch Expansion and Bank Performance," MPRA Paper 125305, University Library of Munich, Germany.
    5. Nina Boyarchenko & Giovanni Favara & Moritz Schularick, 2022. "Financial Stability Considerations for Monetary Policy: Empirical Evidence and Challenges," Finance and Economics Discussion Series 2022-006, Board of Governors of the Federal Reserve System (U.S.).
    6. Friedheim Diego & De Marco Filippo, 2025. "Banks' Inflation Expectations and Credit Allocation: the Fisher Effect," Asociación Argentina de Economía Política: Working Papers 4803, Asociación Argentina de Economía Política.
    7. Moritz Schularick & Bjorn Richter & Alan Taylor & Oscar Jorda, 2017. "Bank Capital Redux: Solvency, Liquidity, and Crisis," 2017 Meeting Papers 843, Society for Economic Dynamics.
    8. Matthew S. Jaremski & David C. Wheelock, 2018. "Banking on the Boom, Tripped by the Bust: Banks and the World War I Agricultural Price Shock," NBER Working Papers 25159, National Bureau of Economic Research, Inc.
    9. Pablo Pastory y Camarasa & Martien Lamers, 2023. "Do Actions Follow Words? How bank sentiment predicts credit growth," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 23/1073, Ghent University, Faculty of Economics and Business Administration.
    10. Brei, Michael & Gadanecz, Blaise & Mehrotra, Aaron, 2020. "SME lending and banking system stability: Some mechanisms at work," Emerging Markets Review, Elsevier, vol. 43(C).
    11. Chen, Qi & Goldstein, Itay & Huang, Zeqiong & Vashishtha, Rahul, 2022. "Bank transparency and deposit flows," Journal of Financial Economics, Elsevier, vol. 146(2), pages 475-501.
    12. Mihai, Marius M., 2022. "The commercial bank leverage factor in U.S. asset prices," The Quarterly Review of Economics and Finance, Elsevier, vol. 86(C), pages 156-171.
    13. Dang, Van Dan & Nguyen, Hoang Chung, 2022. "Bank profitability under uncertainty," The Quarterly Review of Economics and Finance, Elsevier, vol. 83(C), pages 119-134.
    14. Moeti Damane & Sin Yu Ho, 2025. "Effects of financial inclusion of small and medium-sized enterprises on financial stability: evidence from selected sub-Saharan African countries," Journal of Innovation and Entrepreneurship, Springer, vol. 14(1), pages 1-30, December.
    15. Ding Du & Ou Hu, 2020. "Why does stock-market investor sentiment influence corporate investment?," Review of Quantitative Finance and Accounting, Springer, vol. 54(4), pages 1221-1246, May.
    16. Sergio Correia & Stephan Luck & Emil Verner, 2026. "Bank Failures: The Roles of Solvency and Liquidity," Papers 2602.07327, arXiv.org.
    17. Changjun Zheng & Sinamenye Jean-Petit, 2022. "Mutual Causal Effects Between Bank Stability and Profitability in SSA Banking System," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 12(4), pages 1-1.
    18. Garel, Alexandre & Martín-Flores, José M. & Petit-Romec, Arthur, 2020. "Stock market listing and the persistence of bank performance across crises," Journal of Banking & Finance, Elsevier, vol. 118(C).
    19. Abhinav Anand & John Cotter, 2019. "Integration Among US Banks," Working Papers 201913, Geary Institute, University College Dublin.
    20. Lars Norden & Bernardus Van Doornik & Weichao Wang, 2025. "Labor Turnover, Information Production, and Bank Risk," Working Papers Series 626, Central Bank of Brazil, Research Department.
    21. Crawford, Vincent P. & Jin, Miao & Meng, Juanjuan & Yao, Lan, 2025. "Expectations-based reference-dependence and labor supply: Eliciting cabdrivers’ expectations in the field," Journal of Economic Behavior & Organization, Elsevier, vol. 239(C).
    22. Song, Fenghua & Thakor, Anjan V., 2019. "Bank culture," Journal of Financial Intermediation, Elsevier, vol. 39(C), pages 59-79.
    23. Kai Ding & Enoch Hill & David Perez-Reyna, 2021. "Optimal capital requirements with noisy signals on banking risk," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 71(4), pages 1649-1687, June.
    24. Parija, Arpit Kumar, 2025. "Does credit growth predict lower returns for large banks?," Finance Research Letters, Elsevier, vol. 75(C).
    25. Sergio A. Correia & Stephan Luck & Emil Verner, 2025. "Supervising Failing Banks," Staff Reports 1168, Federal Reserve Bank of New York.
    26. Chen, Jie & Mishra, Tapas & Song, Wei & Zhang, Qingjing & Zhang, Zhuang, 2024. "The impact of bank mergers on corporate tax aggressiveness," Journal of Corporate Finance, Elsevier, vol. 84(C).
    27. Mihai, Marius M. & Mansur, Iqbal, 2022. "Forecasting crash risk in U.S. bank returns—The role of credit booms," Journal of Corporate Finance, Elsevier, vol. 76(C).
    28. Michelle Zemel, 2018. "The Information Content of Loan Growth in Banks," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 8(02), pages 1-32, June.
    29. Rossi, Stefano & Gulen, Huseyin & Ion, Mihai, 2019. "Credit Cycles, Expectations, and Corporate Investment," CEPR Discussion Papers 13679, C.E.P.R. Discussion Papers.
    30. Abuzayed, Bana & Ben Ammar, Mouldi & Molyneux, Philip & Al-Fayoumi, Nedal, 2024. "Corruption, lending and bank performance," International Review of Economics & Finance, Elsevier, vol. 89(PA), pages 802-830.
    31. Jules H. van Binsbergen & Christian C. Opp, 2017. "Real Anomalies," NBER Working Papers 23238, National Bureau of Economic Research, Inc.
    32. Tchakoute Tchuigoua, Hubert & Soumaré, Issouf & Hessou, Hélyoth T.S., 2020. "Lending and business cycle: Evidence from microfinance institutions," Journal of Business Research, Elsevier, vol. 119(C), pages 1-12.
    33. Altunbas, Yener & Manganelli, Simone & Marques-Ibanez, David, 2017. "Realized bank risk during the great recession," Journal of Financial Intermediation, Elsevier, vol. 32(C), pages 29-44.
    34. Akhtaruzzaman, Md & Chiah, Mardy & Docherty, Paul & Zhong, Angel, 2021. "Betting against bank profitability," Journal of Economic Behavior & Organization, Elsevier, vol. 192(C), pages 304-323.
    35. Martin-Flores, Jose M., 2024. "Is bank misconduct related to social capital? Evidence from U.S. banks," Journal of Banking & Finance, Elsevier, vol. 167(C).
    36. Kim, Dohan & Sohn, Wook, 2024. "Loan growth and quality over the credit cycle," International Review of Economics & Finance, Elsevier, vol. 95(C).
    37. Andrieş, Alin Marius & Ongena, Steven & Sprincean, Nicu, 2025. "Sectoral credit allocation and systemic risk," Journal of Financial Stability, Elsevier, vol. 76(C).
    38. Emil Verner & Amir Sufi & Atif Mian, 2017. "Household Debt and Business Cycles Worldwide," 2017 Meeting Papers 673, Society for Economic Dynamics.
    39. Jing Yang & Xin Rong Li & Erin Liu, 2025. "The Unforeseen Impact: IPOs and Worsening Performance in Local Residential Mortgage Markets," International Real Estate Review, Global Social Science Institute, vol. 28(3), pages 255-328.
    40. Pak, Olga, 2019. "The impact of state ownership and business models on bank stability: Empirical evidence from the Eurasian Economic Union," The Quarterly Review of Economics and Finance, Elsevier, vol. 71(C), pages 161-175.
    41. Piccoli, Pedro, 2022. "Valuating consumer credit portfolios," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 3(3).
    42. Hegde, Shantaram P. & Kozlowski, Steven E., 2021. "Discretionary loan loss provisioning and bank stock returns: The Role of economic booms and busts," Journal of Banking & Finance, Elsevier, vol. 130(C).
    43. Li, Rui & Li, Jianping & Zhu, Xiaoqian, 2025. "Downside belief disagreements and financial instability: Evidence from risk factor disclosures in U.S. financial institutions’ 10-K filings," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 99(C).
    44. Abaab, Malek & Drira, Mohamed & Helali, Kamel, 2025. "Regime-switching model estimates the impact of bank liquidity on bank performance across G20 countries: a moderate role for solvency, total loans, and total debt," The Journal of Economic Asymmetries, Elsevier, vol. 32(C).

  8. Matthias EFING & Rüdiger FAHLENBRACH & Christoph HERPFER & Philipp KRÜGER, 2015. "How Do Investors and Firms React to an Unexpected Currency Appreciation Shock?," Swiss Finance Institute Research Paper Series 15-65, Swiss Finance Institute, revised Jan 2016.

    Cited by:

    1. Fischer, Andreas & Sauré, Philip, 2016. "The speed of the exchange rate pass-through," CEPR Discussion Papers 11195, C.E.P.R. Discussion Papers.
    2. Auer, Raphael & Burstein, Ariel & Lein, Sarah M., 2018. "Exchange Rates and Prices: Evidence from the 2015 Swiss Franc Appreciation," Working papers 2018/23, Faculty of Business and Economics - University of Basel.
    3. Harald Hau & Yi Huang & Gewei Wang, 2016. "Firm Response to Competitive Shocks: Evidence from China’s Minimum Wage Policy," IHEID Working Papers 08-2016, Economics Section, The Graduate Institute of International Studies.
    4. Dibiasi, Andreas & Abberger, Klaus & Siegenthaler, Michael & Sturm, Jan-Egbert, 2018. "The effects of policy uncertainty on investment: Evidence from the unexpected acceptance of a far-reaching referendum in Switzerland," European Economic Review, Elsevier, vol. 104(C), pages 38-67.
    5. Buchholz, Manuel & von Schweinitz, Gregor & Tonzer, Lena, 2018. "Did the Swiss exchange rate shock shock the market?," IWH Discussion Papers 9/2018, Halle Institute for Economic Research (IWH).
    6. Auer, Raphael & Burstein, Ariel & Erhardt, Katharina & Lein, Sarah, 2020. "Exports and Invoicing: Evidence from the 2015 Swiss Franc Appreciation," Working papers 2020/14, Faculty of Business and Economics - University of Basel.
    7. Luzi Hail & Maximilian Muhn & David Oesch, 2021. "Do Risk Disclosures Matter When It Counts? Evidence from the Swiss Franc Shock," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 59(1), pages 283-330, March.
    8. Daniel Kaufmann & Tobias Renkin, 2019. "Export Prices, Markups, and Currency Choice after a Large Appreciation," IRENE Working Papers 19-07, IRENE Institute of Economic Research.
    9. Gregor von Schweinitz & Lena Tonzer & Manuel Buchholz, 2021. "Monetary policy through exchange rate pegs: The removal of the Swiss franc‐Euro floor and stock price reactions," International Review of Finance, International Review of Finance Ltd., vol. 21(4), pages 1382-1406, December.

  9. Nicole M. Boyson & Rüdiger Fahlenbrach & René M. Stulz, 2014. "Why Don’t All Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities," Swiss Finance Institute Research Paper Series 14-21, Swiss Finance Institute, revised Dec 2015.

    Cited by:

    1. Shi, Zhengxu & Xia, Yufei & He, Lingyun & Sun, Naili & Zheng, Qiong, 2025. "Can internal regulatory technology (RegTech) mitigate bank credit risk? Evidence from the banking sector in China," Research in International Business and Finance, Elsevier, vol. 75(C).
    2. Dong Beom Choi & Michael R. Holcomb & Donald P. Morgan, 2020. "Bank Leverage Limits and Regulatory Arbitrage: Old Question‐New Evidence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S1), pages 241-266, October.
    3. Jiang, Hai & Yuan, Chao, 2022. "Monetary policy, capital regulation and bank risk-taking：Evidence from China," Journal of Asian Economics, Elsevier, vol. 82(C).
    4. Abbassi, Puriya & Schmidt, Michael, 2018. "A comprehensive view on risk reporting: Evidence from supervisory data," Discussion Papers 08/2018, Deutsche Bundesbank.
    5. Abbassi, Puriya & Iyer, Rajkamal & Peydró, José-Luis & Soto, Paul, 2020. "Stressed Banks? Evidence from the Largest-Ever Supervisory Review," EconStor Preprints 217048, ZBW - Leibniz Information Centre for Economics.
    6. Fulvia Fringuellotti & João A. C. Santos, 2021. "Insurance Companies and the Growth of Corporate Loans' Securitization," Staff Reports 975, Federal Reserve Bank of New York.
    7. Dal Borgo, Mariela, 2022. "Internal models for deposits: Effects on banks' capital and interest rate risk of assets," Journal of Banking & Finance, Elsevier, vol. 135(C).
    8. Judit Temesvary, 2018. "The Role Of Regulatory Arbitrage In U.S. Banks' International Flows: Bank‐Level Evidence," Economic Inquiry, Western Economic Association International, vol. 56(4), pages 2077-2098, October.
    9. Ongena, Steven & Conlon, Thomas & Huan, Xing, 2020. "Operational Risk Capital," CEPR Discussion Papers 15096, C.E.P.R. Discussion Papers.
    10. Conlon, Thomas & Cotter, John & Molyneux, Philip, 2020. "Beyond common equity: The influence of secondary capital on bank insolvency risk," Journal of Financial Stability, Elsevier, vol. 47(C).
    11. Hugonnier, Julien & Morellec, Erwan, 2017. "Bank capital, liquid reserves, and insolvency risk," Journal of Financial Economics, Elsevier, vol. 125(2), pages 266-285.
    12. van Wijnbergen, Sweder & Fatouh, Mahmoud & Neamtu, Ioana, 2020. "Risk-Taking, Competition and Uncertainty: Do CoCo Bonds Increase the Risk Appetite of Banks?," CEPR Discussion Papers 14530, C.E.P.R. Discussion Papers.
    13. Yusifzada, Leyla, 2025. "How does subordinated debt affect the cost of capital for banks?," Pacific-Basin Finance Journal, Elsevier, vol. 91(C).
    14. Mahmoud Fatouh & Ioana Neamtu & Sweder van Wijnbergen, 2022. "Risk-Taking, Competition and Uncertainty: Do Contingent Convertible (CoCo) Bonds Increase the Risk Appetite of Banks?," Tinbergen Institute Discussion Papers 22-017/IV, Tinbergen Institute.
    15. POP, Adrian & POP, Diana, 2025. "Output floors in setting bank capital requirements," Journal of Financial Stability, Elsevier, vol. 81(C).
    16. Mahmoud Fatouh & Ioana Neamțu & Sweder van Wijnbergen, 2021. "Risk-taking and uncertainty: do contingent convertible (CoCo) bonds increase the risk appetite of banks?," Bank of England working papers 938, Bank of England.
    17. Beck, Thorsten & Silva-Buston, Consuelo & Wagner, Wolf, 2025. "Supervisory arbitrage and real effects," Journal of Corporate Finance, Elsevier, vol. 95(C).
    18. Efing, Matthias, 2016. "Arbitraging the Basel securitization framework: Evidence from German ABS investment," ESRB Working Paper Series 22, European Systemic Risk Board.
    19. Chen, Jiakai, 2022. "Market discipline and regulatory arbitrage: Evidence from ABCP liquidity guarantors," Journal of Banking & Finance, Elsevier, vol. 145(C).
    20. Yann Braouezec & Keyvan Kiani, 2021. "Target capital ratio and optimal channel(s) of adjustment: A simple model with empirical applications to European banks," Post-Print halshs-03341768, HAL.
    21. Gropp, Reint & Mosk, Thomas & Ongena, Steven & Simac, Ines & Wix, Carlo, 2020. "Supranational rules, national discretion: Increasing versus inflating regulatory bank capital?," SAFE Working Paper Series 296, Leibniz Institute for Financial Research SAFE.
    22. Gabriel A. Ogunmola & Fengsheng Chien & Ka Yin Chau & Li Li, 2022. "The Influence of Capital Requirement of Basel III Adoption on Banks’ Operating Efficiency: Evidence from U.S. Banks," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 11(2), pages 5-26.
    23. Pennacchi, George G. & Santos, João A.C., 2021. "Why do banks target ROE?," Journal of Financial Stability, Elsevier, vol. 54(C).
    24. Philippe Oster, 2020. "Contingent Convertible bond literature review: making everything and nothing possible?," Journal of Banking Regulation, Palgrave Macmillan, vol. 21(4), pages 343-381, December.

  10. Boyson, Nicole M. & Fahlenbrach, Rudiger & Stulz, Rene M., 2014. "Why Do Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities," Working Paper Series 2014-01, Ohio State University, Charles A. Dice Center for Research in Financial Economics.

    Cited by:

    1. Efing, Matthias, 2015. "Arbitraging the Basel securitization framework: Evidence from German ABS investment," Discussion Papers 40/2015, Deutsche Bundesbank.
    2. Sven Bornemann & Susanne Homölle & Carsten Hubensack & Thomas Kick & Andreas Pfingsten, 2014. "Visible Reserves in Banks – Determinants of Initial Creation, Usage and Contribution to Bank Stability," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 41(5-6), pages 507-544, June.
    3. Beltratti, Andrea & Paladino, Giovanna, 2016. "Basel II and regulatory arbitrage. Evidence from financial crises," Journal of Empirical Finance, Elsevier, vol. 39(PB), pages 180-196.
    4. Marco Pagano & Sam Langfield & Viral V. Acharya & Arnoud Boot & Markus K. Brunnermeier & Claudia Buch & Martin F. Hellwig & André Sapir & Ieke van den Burg, 2014. "Is Europe Overbanked?," Report of the Advisory Scientific Committee 4, European Systemic Risk Board.
    5. Lamont K. Black & Ioannis Floros & Rajdeep Sengupta, 2016. "Raising capital when the going gets tough: U.S. bank equity issuance from 2001 to 2014," Research Working Paper RWP 16-5, Federal Reserve Bank of Kansas City.

  11. Henrik CRONQVIST & Rüdiger FAHLENBRACH, 2011. "CEO Contract Design: How Do Strong Principals Do It?," Swiss Finance Institute Research Paper Series 11-14, Swiss Finance Institute.

    Cited by:

    1. Jochen Bigus & Aline Grahn & Mustafa Karakaya, 2024. "Determinants of executive pay in small private firms–initial evidence from Germany," Journal of Business Economics, Springer, vol. 94(1), pages 41-73, January.
    2. Ernst Maug & Bernd Albrecht, 2011. "Struktur und Höhe der Vorstandsvergütung: Fakten und Mythen," Schmalenbach Journal of Business Research, Springer, vol. 63(8), pages 858-881, December.
    3. Colonnello, Stefano, 2016. "Executive Compensation, Macroeconomic Conditions, and Cash Flow Cyclicality," IWH Discussion Papers 6/2016, Halle Institute for Economic Research (IWH).
    4. Lu, Erin P. & Lai, Gene C. & Ma, Qingzhong, 2017. "Organizational structure, risk-based capital requirements, and the sales of downgraded bonds," Journal of Banking & Finance, Elsevier, vol. 74(C), pages 51-68.
    5. N. Gregory Mankiw, 2013. "Defending the One Percent," Journal of Economic Perspectives, American Economic Association, vol. 27(3), pages 21-34, Summer.
    6. Edmans, Alex & Gabaix, Xavier, 2016. "Executive Compensation: A Modern Primer," Scholarly Articles 34651704, Harvard University Department of Economics.
    7. Li‐Ying Huang & Gene C. Lai & Erin Lu & Michael McNamara, 2020. "Auditor quality, audit fees, organizational structure, and risk taking in the US life insurance industry," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 23(2), pages 151-182, June.
    8. Sharjil M. Haque, 2023. "Does Private Equity Over-Lever Portfolio Companies?," Finance and Economics Discussion Series 2023-009, Board of Governors of the Federal Reserve System (U.S.).
    9. Steven N. Kaplan, 2012. "Executive Compensation and Corporate Governance in the U.S.: Perceptions, Facts and Challenges," NBER Working Papers 18395, National Bureau of Economic Research, Inc.
    10. Gao, Huasheng & Li, Kai, 2015. "A comparison of CEO pay–performance sensitivity in privately-held and public firms," Journal of Corporate Finance, Elsevier, vol. 35(C), pages 370-388.
    11. Lindbeck, Assar & Weibull, Jörgen, 2015. "Pay Schemes, Bargaining, and Competition for Talent," Working Paper Series 1100, Research Institute of Industrial Economics.
    12. Sharjil M. Haque & Anya V. Kleymenova, 2023. "Private Equity and Debt Contract Enforcement: Evidence from Covenant Violations," Finance and Economics Discussion Series 2023-018, Board of Governors of the Federal Reserve System (U.S.).
    13. Phalippou, Ludovic & Rauch, Christian & Umber, Marc, 2018. "Private equity portfolio company fees," Journal of Financial Economics, Elsevier, vol. 129(3), pages 559-585.
    14. Yaowen Shan & Terry Walter, 2016. "Towards a Set of Design Principles for Executive Compensation Contracts," Abacus, Accounting Foundation, University of Sydney, vol. 52(4), pages 619-684, December.
    15. Victor Esteban Jarosiewicz, 2019. "CEO Compensation after Harvester Director Departure," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 9(01), pages 1-21, March.
    16. Gulen, Huseyin & O'Brien, William J., 2017. "Option repricing, corporate governance, and the effect of shareholder empowerment," Journal of Financial Economics, Elsevier, vol. 125(2), pages 389-415.
    17. Sara Fernández‐López & David Rodeiro‐Pazos & Lucía Rey‐Ares, 2020. "Effects of working capital management on firms' profitability: evidence from cheese‐producing companies," Agribusiness, John Wiley & Sons, Ltd., vol. 36(4), pages 770-791, October.
    18. Sharjil M. Haque & Simon Mayer & Teng Wang, 2024. "How Private Equity Fuels Non-Bank Lending," Finance and Economics Discussion Series 2024-015, Board of Governors of the Federal Reserve System (U.S.).
    19. Chua, Ansley & Nasser, Tareque, 2016. "Insider sales in IPOs: Consequences of liquidity needs," Journal of Corporate Finance, Elsevier, vol. 39(C), pages 1-17.
    20. Miaowei Peng & Xue Tan, 2023. "Does controlling persons’ foreign residency rights influence executive compensation?," Review of Managerial Science, Springer, vol. 17(7), pages 2375-2416, October.

  12. Rüdiger FAHLENBRACH & Robert PRILMEIER & René M. STULZ, 2011. "This Time Is the Same: Using Bank Performance in 1998 to Explain Bank Performance During the Recent Financial Crisis," Swiss Finance Institute Research Paper Series 11-19, Swiss Finance Institute.

    Cited by:

    1. Hoque, Hafiz, 2013. "From the credit crisis to the sovereign debt crisis: Determinants of share price performance of global banks," International Review of Financial Analysis, Elsevier, vol. 30(C), pages 334-350.
    2. Wu, Meng-Wen & Shen, Chung-Hua & Hsu, Hsing-Hua & Chiu, Po-Hao, 2023. "Why did a bank with good governance perform worse during the financial crisis? The views of shareholder and stakeholder orientations," Pacific-Basin Finance Journal, Elsevier, vol. 82(C).
    3. Tang, Ning & Kamar, Amina & Lin, Chih-Yung & Lu, Chien-Lin, 2023. "Bank safety-oriented culture and lending decisions," Journal of Financial Stability, Elsevier, vol. 66(C).
    4. Wang, Zhimin & Zhu, Xiaodi & Ding, Ruixin, 2025. "National culture’s influence on firm performance in bad times: Evidence from the COVID-19 crisis and GFC," Research in International Business and Finance, Elsevier, vol. 79(C).
    5. Almamy, Jeehan & Aston, John & Ngwa, Leonard N., 2016. "An evaluation of Altman's Z-score using cash flow ratio to predict corporate failure amid the recent financial crisis: Evidence from the UK," Journal of Corporate Finance, Elsevier, vol. 36(C), pages 278-285.
    6. Eleuterio Vallelado & Paolo Saona & Pablo San Martín, 2017. "How regulation affects the relevance of bank-debt maturity as a control mechanism in developed countries," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 18(1), pages 116-130, January.
    7. Chau, Michael & Lin, Chih-Yung & Lin, Tse-Chun, 2020. "Wisdom of crowds before the 2007–2009 global financial crisis," Journal of Financial Stability, Elsevier, vol. 48(C).
    8. Akin, Ozlem & Marín, J.M. & Peydró, José-Luis, 2019. "Anticipating the Financial Crisis: Evidence from Insider Trading in Banks," EconStor Preprints 216803, ZBW - Leibniz Information Centre for Economics.
    9. Hagendorff, Jens & Saunders, Anthony & Steffen, Sascha & Vallascas, Francesco, 2021. "The wolves of Wall Street? Managerial attributes and bank risk," Journal of Financial Intermediation, Elsevier, vol. 47(C).
    10. Kurz, Michael & Kleimeier, Stefanie, 2019. "Credit Supply: Are there negative spillovers from banks’ proprietary trading? (RM/19/005-revised-)," Research Memorandum 026, Maastricht University, Graduate School of Business and Economics (GSBE).
    11. Woon Sau Leung & Wei Song & Jie Chen, 2018. "Does Bank Stakeholder Orientation Enhance Financial Stability? Evidence from a Natural Experiment," Working Papers 2018-14, Swansea University, School of Management.
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    56. Teodor Dyakov & Marno Verbeek, 2019. "Can Mutual Fund Investors Distinguish Good from Bad Managers?," International Review of Finance, International Review of Finance Ltd., vol. 19(3), pages 505-540, September.
    57. Jiang, George J. & Zaynutdinova, Gulnara R. & Zhang, Huacheng, 2021. "Stock-selection timing," Journal of Banking & Finance, Elsevier, vol. 125(C).

  14. Rüdiger FAHLENBRACH & Bernadette A. MINTON & Carrie H. PAN, 2010. "Former CEO Directors: Lingering CEOs or Valuable Resources?," Swiss Finance Institute Research Paper Series 10-11, Swiss Finance Institute.

    Cited by:

    1. Ogoe, Satoshi & Suzuki, Katsushi, 2023. "Former CEO advisors and firm performance," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    2. Amod Choudhary, 2015. "Second Time Is A Charm? Rehiring The Ex-Ceo," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 9(1), pages 97-104.
    3. Cziraki, Peter & Jenter, Dirk, 2021. "The market for CEOs," LSE Research Online Documents on Economics 118872, London School of Economics and Political Science, LSE Library.
    4. Bill Francis & Iftekhar Hasan & Qiang Wu, 2015. "Professors in the Boardroom and Their Impact on Corporate Governance and Firm Performance," Financial Management, Financial Management Association International, vol. 44(3), pages 547-581, September.
    5. Ma, Mingze, 2022. "Gendered performance evaluation in CEO turnover," Journal of Corporate Finance, Elsevier, vol. 77(C).
    6. Riyanka Baral & Debasis Patnaik, 2021. "Banking Governance Parameters Differentiated by size: Impact on Agency Cost," Indian Journal of Corporate Governance, , vol. 14(1), pages 86-109, June.
    7. Goergen, Marc & Limbach, Peter & Scholz, Meik, 2015. "Mind the gap: The age dissimilarity between the chair and the CEO," Journal of Corporate Finance, Elsevier, vol. 35(C), pages 136-158.
    8. Chen, Jun & Garel, Alexandre & Tourani-Rad, Alireza, 2019. "The value of academics: Evidence from academic independent director resignations in China," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 393-414.
    9. Daniel Sungyeon Kim & Hong Kee Sul, 2021. "Diversity Matters: A Study on the Relationship between Board Career Diversity and Firm Performance," Sustainability, MDPI, vol. 13(17), pages 1-24, August.
    10. Fedaseyeu, Viktar & Linck, James S. & Wagner, Hannes F., 2018. "Do qualifications matter? New evidence on board functions and director compensation," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 816-839.
    11. Inmaculada Bel‐Oms & María Consuelo Pucheta‐Martínez & Isabel Gallego‐Álvarez, 2025. "Do CEO Attributes in the Energy Sector Matter in Sustainability Performance? The Moderating Role Performed by Board Gender Diversity," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(3), pages 3997-4018, May.
    12. Yuk Ying Chang & Sudipto Dasgupta & Gilles Hilary, 2010. "CEO Ability, Pay, and Firm Performance," Management Science, INFORMS, vol. 56(10), pages 1633-1652, October.
    13. Narayanan Jayaraman & Vikram Nanda & Harley E. Ryan, 2022. "The influence of learning and bargaining on CEO–chair duality: Evidence from firms that pass the baton," Financial Management, Financial Management Association International, vol. 51(1), pages 297-350, March.
    14. Orihara, Masanori & Eshraghi, Arman, 2022. "Corporate governance compliance and herding," International Review of Financial Analysis, Elsevier, vol. 80(C).
    15. Beneish, Messod D. & Marshall, Cassandra D. & Yang, Jun, 2017. "Explaining CEO retention in misreporting firms," Journal of Financial Economics, Elsevier, vol. 123(3), pages 512-535.
    16. Andres, Christian & Fernau, Erik & Theissen, Erik, 2013. "Should I stay or should I go? Former CEOs as monitors," CFR Working Papers 12-02 [rev.], University of Cologne, Centre for Financial Research (CFR).
    17. Ye, Miaomiao & Li, Mengzhe & Zeng, Qiannan, 2022. "Former CEO director and executive-employee pay gap," Pacific-Basin Finance Journal, Elsevier, vol. 76(C).
    18. Sahar E-Vahdati & Wan Nordin Wan-Hussin & Mohd Shazwan Mohd Ariffin, 2023. "The Value Relevance of ESG Practices in Japan and Malaysia: Moderating Roles of CSR Award, and Former CEO as a Board Chair," Sustainability, MDPI, vol. 15(3), pages 1-17, February.
    19. Waelchli, Urs & Zeller, Jonas, 2013. "Old captains at the helm: Chairman age and firm performance," Journal of Banking & Finance, Elsevier, vol. 37(5), pages 1612-1628.
    20. Cai, Chen & Hasan, Iftekhar & Shen, Yinjie & Wang, Shuai, 2021. "Military directors, governance and firm behavior," Advances in accounting, Elsevier, vol. 55(C).
    21. Cline, Brandon N. & Yore, Adam S., 2016. "Silverback CEOs: Age, experience, and firm value," Journal of Empirical Finance, Elsevier, vol. 35(C), pages 169-188.
    22. Quoc-Anh Do & Bang Dang Nguyen & Raghavendra- University of Cambridge, Cambridge Judge Business School) Rau, 2013. "Sugar and Spice and Everything Nice: What Are Good Directors Made of?," Sciences Po Economics Publications (main) hal-03460924, HAL.
    23. Randy Beavers & Shawn Mobbs, 2020. "Director overconfidence," Financial Management, Financial Management Association International, vol. 49(2), pages 389-422, June.
    24. Anup Agrawal & Tareque Nasser, 2019. "Blockholders on Boards and CEO Compensation, Turnover and Firm Valuation," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 9(03), pages 1-67, September.
    25. Vu Quang Trinh & Aly Salama & Teng Li & Ou Lyu & Savvas Papagiannidis, 2023. "Former CEOs chairing the board: does it matter to corporate social and environmental investments?," Review of Quantitative Finance and Accounting, Springer, vol. 61(4), pages 1277-1313, November.
    26. Liu, Baixiao & McConnell, John J. & Xu, Wei, 2017. "The power of the pen reconsidered: The media, CEO human capital, and corporate governance," Journal of Banking & Finance, Elsevier, vol. 76(C), pages 175-188.
    27. Li, Mengzhe & Lan, Fei, 2022. "Former CEO directors and cash holdings," Economic Analysis and Policy, Elsevier, vol. 75(C), pages 320-334.
    28. Hoitash, Udi & Mkrtchyan, Anahit, 2022. "Internal governance and outside directors’ connections to non-director executives," Journal of Accounting and Economics, Elsevier, vol. 73(1).

  15. Rüdiger Fahlenbrach & Angie Low & René M. Stulz, 2010. "The Dark Side of Outside Directors: Do they Quit When They are Most Needed?," Swiss Finance Institute Research Paper Series 10-17, Swiss Finance Institute.

    Cited by:

    1. Giovanni Bartolomeo & Paolo Canofari, 2015. "Interlocking Directorates and Concentration in the Italian Insurance Market," Journal of Industry, Competition and Trade, Springer, vol. 15(4), pages 351-362, December.
    2. Balsmeier, Benjamin & Buchwald, Achim & Stiebale, Joel, 2014. "Outside directors on the board and innovative firm performance," Research Policy, Elsevier, vol. 43(10), pages 1800-1815.
    3. Martin Bugeja & Zoltan Matolcsy & Wassila Mehdi & Helen Spiropoulos, 2017. "Is non-executive directors’ pay or industry expertise related to takeover premiums, abnormal returns and offer price revisions?," Australian Journal of Management, Australian School of Business, vol. 42(3), pages 355-375, August.
    4. Shi, Chunling & Sun, Yaodong & Lyu, Jia, 2023. "D&O insurance, technology independent directors, and R&D investment," International Review of Financial Analysis, Elsevier, vol. 89(C).
    5. Michael Firth & Sonia Wong & Qingquan Xin & Ho Yin Yick, 2016. "Regulatory Sanctions on Independent Directors and Their Consequences to the Director Labor Market: Evidence from China," Journal of Business Ethics, Springer, vol. 134(4), pages 693-708, April.
    6. Alfredo M. Bobillo & J.A. Rodríguez‐Sanz & F. Tejerina‐Gaite, 2018. "Corporate governance drivers of firm innovation capacity," Review of International Economics, Wiley Blackwell, vol. 26(3), pages 721-741, August.
    7. Sunaina Kanojia & Shasta Gupta, 2023. "Bankruptcy in Indian context: perspectives from corporate governance," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 27(2), pages 505-545, June.
    8. Tobias Körner, 2017. "Board Accountability and Risk Taking in Banking: Evidence from a Quasi-Experiment," Journal of Financial Services Research, Springer;Western Finance Association, vol. 52(3), pages 155-190, December.
    9. Singh, Preet Deep & Singla, Chitra, 2016. "Impact of Independent Directors’ Resignations on Firm’s Governance," IIMA Working Papers WP2016-03-36, Indian Institute of Management Ahmedabad, Research and Publication Department.
    10. Jing Zhou & Silin Ye & Wei Lan & Yunwen Jiang, 2021. "The effect of social media on corporate violations: Evidence from Weibo posts in China," International Review of Finance, International Review of Finance Ltd., vol. 21(3), pages 966-988, September.
    11. Michael C. Withers & Kevin G. Corley & Amy J. Hillman, 2012. "Stay or Leave: Director Identities and Voluntary Exit from the Board During Organizational Crisis," Organization Science, INFORMS, vol. 23(3), pages 835-850, June.
    12. Kim, Y. Han (Andy), 2013. "Self attribution bias of the CEO: Evidence from CEO interviews on CNBC," Journal of Banking & Finance, Elsevier, vol. 37(7), pages 2472-2489.
    13. Vaid, Shashank & Ahearne, Michael & Honig, Benson & Krause, Ryan, 2023. "Customer-related executive leadership turnover and firm performance: A dilemma of firm-level human resource contingencies," Journal of Business Research, Elsevier, vol. 159(C).
    14. Oladipupo Muhrtala Tijani & Mubaraq Sanni & Karimu Adebayo Ishola, 2015. "Multiple Directorships and Related Parties Transactions: The Weakness of Numbers," European Journal of Business Science and Technology, Mendel University in Brno, Faculty of Business and Economics, vol. 1(2), pages 137-148.
    15. Neretina, Ekaterina, 2019. "Essays in corporate finance, political economy, and competition," Other publications TiSEM 81be2b90-2bec-4cf5-baf2-2, Tilburg University, School of Economics and Management.
    16. Victor Esteban Jarosiewicz, 2019. "CEO Compensation after Harvester Director Departure," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 9(01), pages 1-21, March.
    17. Balsmeier, Benjamin & Buchwald, Achim & Peters, Heiko, 2011. "Outside board memberships of CEOs: Expertise or entrenchment?," DICE Discussion Papers 26, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    18. Dilger, Alexander, 2012. "How (not) to pay non-executive directors," Discussion Papers of the Institute for Organisational Economics 9/2012, University of Münster, Institute for Organisational Economics.
    19. Matteo P. Arena & Michaël Dewally & Sarah W. Peck, 2020. "Fight or flee: Outside director departures prior to contested management buyout offers," Corporate Governance: An International Review, Wiley Blackwell, vol. 28(5), pages 274-293, September.
    20. Dong Chen, 2014. "The Non-monotonic Effect of Board Independence on Credit Ratings," Journal of Financial Services Research, Springer;Western Finance Association, vol. 45(2), pages 145-171, April.
    21. Buchwald, Achim, 2012. "Welche Unternehmen berufen Vorstandsvorsitzende und andere Vorstände als externe Kontrolleure? Eine empirische Analyse der Präsenz von externen Vorständen in den Aufsichtsräten deutscher Grossunternehmen," Die Unternehmung - Swiss Journal of Business Research and Practice, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 66(2), pages 93-126.
    22. Shashank Vaid & Michael Ahearne & Ryan Krause, 2021. "Operations‐Related Structural Flux: Firm Performance Effects of Executives’ Appointments and Exits," Production and Operations Management, Production and Operations Management Society, vol. 30(7), pages 2188-2210, July.
    23. Preet Singh & Chitra Singla, 2016. "Impact of Independent Directors’ Resignations on Firm’s Governance," Working Papers id:11037, eSocialSciences.
    24. Masulis, Ronald W. & Mobbs, Shawn, 2014. "Independent director incentives: Where do talented directors spend their limited time and energy?," Journal of Financial Economics, Elsevier, vol. 111(2), pages 406-429.
    25. Rong Li & Wenjing Cai & Zehao Wang, 2024. "The spillover effects of financial misconduct on director‐interlocked firms: Evidence from auditor scrutiny," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 51(1-2), pages 511-554, January.
    26. Bui, Dien Giau & Chung, Huimin & Lin, Chih-Yung & Tsao, Kuang-Chih, 2024. "The dark side of well-connected directors: Evidence from private firm acquisitions," International Review of Financial Analysis, Elsevier, vol. 96(PB).

  16. Rüdiger FAHLENBRACH & René M. STULZ, 2009. "Bank CEO Incentives and the Credit Crisis," Swiss Finance Institute Research Paper Series 09-27, Swiss Finance Institute.

    Cited by:

    1. Hoque, Hafiz, 2013. "From the credit crisis to the sovereign debt crisis: Determinants of share price performance of global banks," International Review of Financial Analysis, Elsevier, vol. 30(C), pages 334-350.
    2. Chen, Zhongdong & Daves, Phillip R., 2018. "The January sentiment effect in the U.S. stock market," International Review of Financial Analysis, Elsevier, vol. 59(C), pages 94-104.
    3. Abigail S. Hornstein & James Hounsell, 2013. "Managerial Investment in Mutual Funds," Wesleyan Economics Working Papers 2013-005, Wesleyan University, Department of Economics.
    4. Christopher L. Colvin & Abe de Jong & Philip T. Fliers, 2013. "Predicting the Past: Understanding the Causes of Bank Distress in the Netherlands in the 1920s," Working Papers 0035, European Historical Economics Society (EHES).
    5. Wu, Meng-Wen & Shen, Chung-Hua & Hsu, Hsing-Hua & Chiu, Po-Hao, 2023. "Why did a bank with good governance perform worse during the financial crisis? The views of shareholder and stakeholder orientations," Pacific-Basin Finance Journal, Elsevier, vol. 82(C).
    6. Thanassoulis, John, 2014. "Bank pay caps, bank risk, and macroprudential regulation," Journal of Banking & Finance, Elsevier, vol. 48(C), pages 139-151.
    7. Gerard Caprio, 2009. "Financial Regulation in a Changing World: Lessons from the Recent Crisis," Department of Economics Working Papers 2009-05, Department of Economics, Williams College.
    8. Tang, Ning & Kamar, Amina & Lin, Chih-Yung & Lu, Chien-Lin, 2023. "Bank safety-oriented culture and lending decisions," Journal of Financial Stability, Elsevier, vol. 66(C).
    9. Natalya Zelenyuk & Robert Faff & Shams Pathan, 2021. "The impact of voluntary capital adequacy disclosure on bank lending and liquidity creation," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(3), pages 3915-3935, September.
    10. Tatiana Dănescu & Maria-Alexandra Popa, 2019. "Investigations Regarding the Influence of Corporate Governance on Financial Performance. Empirical Study on Banks Listed on the Romanian Capital Market," Acta Marisiensis. Series Oeconomica, "George Emil Palade" University of Medicine, Pharmacy, Sciences and Technology of Târgu-Mureș, România - Faculty of Economics and Law, vol. 1, pages 35-42, December.
    11. Belkhir, Mohamed & Boubaker, Sabri, 2013. "CEO inside debt and hedging decisions: Lessons from the U.S. banking industry," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 24(C), pages 223-246.
    12. Paola Leone & Carmen Gallucci & Rosalia Santulli, 2021. "How Does Corporate Governance Affect Bank Performance? The Mediating Role of Risk Governance," International Journal of Business and Management, Canadian Center of Science and Education, vol. 13(10), pages 212-212, July.
    13. Aobdia, Daniel & Dou, Yiwei & Kim, Jungbae, 2021. "Public audit oversight and the originate-to-distribute model," Journal of Accounting and Economics, Elsevier, vol. 72(1).
    14. Chen, Sichong, 2013. "How do leverage ratios affect bank share performance during financial crises: The Japanese experience of the late 1990s," Journal of the Japanese and International Economies, Elsevier, vol. 30(C), pages 1-18.
    15. Chau, Michael & Lin, Chih-Yung & Lin, Tse-Chun, 2020. "Wisdom of crowds before the 2007–2009 global financial crisis," Journal of Financial Stability, Elsevier, vol. 48(C).
    16. Jokivuolle, Esa & Keppo, Jussi, 2014. "Bankers' compensation: Sprint swimming in short bonus pools?," Bank of Finland Research Discussion Papers 2/2014, Bank of Finland.
    17. Mega Ayu Widayanti & Sulistya Rusgianto & Hesti Eka Setianingsih & Zurina Kefeli, 2025. "The effect of environmental disclosure on stock return of Islamic and conventional banks," Jurnal Ekonomi & Keuangan Islam, Faculty of Economics, Universitas Islam Indonesia, vol. 11(1), pages 47-60.
    18. Saibal Ghosh, 2025. "Tone at the top: leadership makeover and ESG focus in Indian private banks," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 22(4), pages 1112-1125, December.
    19. Lucia Dalla Pellegrina & Margherita Saraceno, 2016. "Can Shareholder Litigation Discipline CEO Bonuses in the Financial Sector? The Role of Securities Class Actions," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 45(1), pages 3-36, February.
    20. Qiuhong Zhao, 2022. "Enhanced disclosure of credit derivatives, information asymmetry and credit risk," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(5-6), pages 717-751, May.
    21. Previati, Daniele Angelo & Galloppo, Giuseppe & Aliano, Mauro & Paimanova, Viktoria, 2021. "Why do banks react differently to short-selling bans? Evidence from the Asia-Pacific area and the United States," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 144-158.
    22. Hagendorff, Jens & Saunders, Anthony & Steffen, Sascha & Vallascas, Francesco, 2021. "The wolves of Wall Street? Managerial attributes and bank risk," Journal of Financial Intermediation, Elsevier, vol. 47(C).
    23. Stavros Kourtzidis & Nickolaos G. Tzeremes, 2019. "Investigating the determinants of firm performance," European Journal of Management and Business Economics, Emerald Group Publishing Limited, vol. 29(1), pages 3-22, June.
    24. Woon Sau Leung & Wei Song & Jie Chen, 2018. "Does Bank Stakeholder Orientation Enhance Financial Stability? Evidence from a Natural Experiment," Working Papers 2018-14, Swansea University, School of Management.
    25. Mikko MAKINEN & Derek C. JONES, 2015. "Comparative Efficiency Between Cooperative, Savings And Commercial Banks In Europe Using The Frontier Approach," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 86(3), pages 401-420, September.
    26. Jiang Cheng & Hung-Gay Fung & Tzu-Ting Lin & Min-Ming Wen, 2024. "CEO optimism and the use of credit default swaps: evidence from the US life insurance industry," Review of Quantitative Finance and Accounting, Springer, vol. 63(1), pages 169-194, July.
    27. Michel Magnan & Garen Markarian, 2011. "Accounting, Governance and the Crisis: Is Risk the Missing Link?," European Accounting Review, Taylor & Francis Journals, vol. 20(2), pages 215-231.
    28. Chesney, Marc & Stromberg, Jacob & Wagner, Alexander F. & Wolff, Vincent, 2020. "Managerial incentives to take asset risk," Journal of Corporate Finance, Elsevier, vol. 65(C).
    29. Neus, Werner, 2014. "Eigenkapitalnormen, Boni und Risikoanreize in Banken," Die Unternehmung - Swiss Journal of Business Research and Practice, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 68(2), pages 92-107.
    30. Eufinger, Christian & Gill, Andrej, 2012. "Basel III and CEO compensation: a new regulation attempt after the crisis," VfS Annual Conference 2012 (Goettingen): New Approaches and Challenges for the Labor Market of the 21st Century 62056, Verein für Socialpolitik / German Economic Association.
    31. Haelim Anderson & Michael Carabello & Troy Kravitz, 2022. "Retrospective on Twenty Years of the FDIC-JFSR Bank Research Conference," Journal of Financial Services Research, Springer;Western Finance Association, vol. 61(1), pages 1-41, February.
    32. Fan, Yaoyao & Jiang, Yuxiang & John, Kose & Liu, Frank Hong, 2021. "From watchdog to watchman: Do independent directors monitor a CEO of their own age?," Journal of Empirical Finance, Elsevier, vol. 61(C), pages 206-229.
    33. Colonnello, Stefano & Koetter, Michael & Wagner, Konstantin, 2020. "Effectiveness and (in)efficiencies of compensation regulation: Evidence from the EU banker bonus cap," IWH Discussion Papers 7/2018, Halle Institute for Economic Research (IWH), revised 2020.
    34. Stefano Bonini & Ali Taatian, 2023. "Dual holding and bank risk," The Financial Review, Eastern Finance Association, vol. 58(4), pages 735-763, November.
    35. Kathleen Weiss Hanley & Gerard Hoberg, 2019. "Dynamic Interpretation of Emerging Risks in the Financial Sector," The Review of Financial Studies, Society for Financial Studies, vol. 32(12), pages 4543-4603.
    36. Cantrell, Brett W. & Yust, Christopher G., 2018. "The relation between religiosity and private bank outcomes," Journal of Banking & Finance, Elsevier, vol. 91(C), pages 86-105.
    37. Bienz, Carsten & Thorburn, Karin S. & Walz, Uwe, 2023. "Fund ownership, wealth, and risk-taking: Evidence on private equity managers," Journal of Financial Intermediation, Elsevier, vol. 54(C).
    38. Li, Minghui & Song, Yiran, 2025. "Bank executive incentives and liquidity creation: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 99(C).
    39. Ernst Maug & Bernd Albrecht, 2011. "Struktur und Höhe der Vorstandsvergütung: Fakten und Mythen," Schmalenbach Journal of Business Research, Springer, vol. 63(8), pages 858-881, December.
    40. Cindy Truong, Yan Wendy Wu, 2014. "Female Bank Executives: Impact on Performance and Risk Taking Substitutes?," LCERPA Working Papers wm0067, Laurier Centre for Economic Research and Policy Analysis.
    41. Ormazabal, Gaizka & Jagolinzer, Alan D. & Larcker, David F. & Taylor, Daniel, 2017. "Political Connections and the Informativeness of Insider Trades," CEPR Discussion Papers 12153, C.E.P.R. Discussion Papers.
    42. Armstrong, Christopher S. & Core, John E. & Guay, Wayne R., 2014. "Do independent directors cause improvements in firm transparency?," Journal of Financial Economics, Elsevier, vol. 113(3), pages 383-403.
    43. Adhikari, Binay Kumar & Agrawal, Anup, 2016. "Does local religiosity matter for bank risk-taking?," Journal of Corporate Finance, Elsevier, vol. 38(C), pages 272-293.
    44. Dai, Han & Robinson, Dahlia & Shen, Yi, 2025. "CEO-employee pay disparity, risk-taking incentives, and financial reporting choices," Journal of Financial Stability, Elsevier, vol. 81(C).
    45. Berger, Allen & Gao, Haoyu & Li, Xinming & Peng, Yuchao & Xie, Bingyuan, 2025. "The Perils of Speed: Branch Expansion and Bank Performance," MPRA Paper 125305, University Library of Munich, Germany.
    46. Beisland, Leif Atle & Mersland, Roy & Randøy, Trond, 2014. "The Association between microfinance rating scores and corporate governance: a global survey," International Review of Financial Analysis, Elsevier, vol. 35(C), pages 268-280.
    47. Catarina Fernandes & Jorge Farinha & Francisco Vitorino Martins & Cesario Mateus, 2017. "Supervisory boards, financial crisis and bank performance: do board characteristics matter?," Journal of Banking Regulation, Palgrave Macmillan, vol. 18(4), pages 310-337, November.
    48. Rüdiger Fahlenbrach & Robert Prilmeier & René M. Stulz, 2011. "This Time Is the Same: Using Bank Performance in 1998 to Explain Bank Performance During the Recent Financial Crisis," NBER Working Papers 17038, National Bureau of Economic Research, Inc.
    49. Arif, Salman & Donovan, John & Gopalan, Yadav & Morris, Arthur, 2024. "Pay for prudence," Journal of Accounting and Economics, Elsevier, vol. 77(1).
    50. Ho, Po-Hsin & Huang, Chia-Wei & Lin, Chih-Yung & Yen, Ju-Fang, 2016. "CEO overconfidence and financial crisis: Evidence from bank lending and leverage," Journal of Financial Economics, Elsevier, vol. 120(1), pages 194-209.
    51. Bellardini, Luca & Murro, Pierluigi & Previtali, Daniele, 2024. "Measuring the risk appetite of bank-controlling shareholders: The Risk-Weighted Ownership index," Global Finance Journal, Elsevier, vol. 60(C).
    52. Fan, Yaoyao & Boateng, Agyenim & King, Timothy & MacRae, Claire, 2019. "Board-CEO friendship ties and firm value: Evidence from US firms," International Review of Financial Analysis, Elsevier, vol. 65(C).
    53. Jochen Mankart & Alexander Michaelides & Spyros Pagratis, 2020. "Bank capital buffers in a dynamic model," Financial Management, Financial Management Association International, vol. 49(2), pages 473-502, June.
    54. Aloui Mouna & Imed Daliy & Jarboui Anis, 2025. "Good Corporate Governance, Market Stock Liquidity, and Stock Return Volatility: French Context," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 15(1), pages 03-36.
    55. Natalya Zelenyuk & Robert Faff, 2022. "Effects of incentive pay on systemic risk: evidence from CEO compensation and CoVar," Empirical Economics, Springer, vol. 63(6), pages 3289-3311, December.
    56. Saunders, Anthony & Schmid, Markus & Walter, Ingo, 2014. "Non-Interest Income and Bank Performance: Does Ring-Fencing Reduce Bank Risk?," Working Papers on Finance 1417, University of St. Gallen, School of Finance, revised Mar 2016.
    57. Charles W. Calomiris & Mark Carlson, 2014. "Corporate Governance and Risk Management at Unprotected Banks: National Banks in the 1890s," NBER Working Papers 19806, National Bureau of Economic Research, Inc.
    58. Ahmed, Shaker & Ranta, Mikko & Vähämaa, Emilia & Vähämaa, Sami, 2023. "Facial attractiveness and CEO compensation: Evidence from the banking industry," Journal of Economics and Business, Elsevier, vol. 123(C).
    59. Ozlem Akin & José M. Marín & José-Luis Peydró, 2016. "Anticipating the financial crisis: Evidence from insider trading in banks," Economics Working Papers 1524, Department of Economics and Business, Universitat Pompeu Fabra.
    60. Eufinger, Christian & Gill, Andrej, 2016. "Incentive-based capital requirements," SAFE Working Paper Series 9 [rev.], Leibniz Institute for Financial Research SAFE, revised 2016.
    61. Böhm, Hannes & Eichler, Stefan, 2020. "Avoiding the fall into the loop: Isolating the transmission of bank-to-sovereign distress in the Euro Area," Journal of Financial Stability, Elsevier, vol. 51(C).
    62. Huizinga, Harry & Demirgüç-Kunt, Asli & Ma, Kebin & Anginer, Deniz, 2013. "How does corporate governance affect bank capitalization strategies?," CEPR Discussion Papers 9674, C.E.P.R. Discussion Papers.
    63. Timothy King & Jonathan Williams, 2013. "Bank Efficiency and Executive Compensation," Working Papers 13009, Bangor Business School, Prifysgol Bangor University (Cymru / Wales).
    64. Deng, Kebin & He, Jing & Kong, Dongmin & Zhang, Jian, 2019. "Does inside debt alleviate banks' risk taking? Evidence from a quasi-natural experiment in the Chinese banking industry," Emerging Markets Review, Elsevier, vol. 40(C), pages 1-1.
    65. Gaia Soana, Maria, 2024. "Does ESG contracting align or compete with stakeholder interests?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 96(C).
    66. Gambacorta, Leonardo & Cerasi, Vittoria & Deininger, Sebastian M. & Oliviero, Tommaso, 2017. "How post-crisis regulation has affected bank CEO compensation," CEPR Discussion Papers 12008, C.E.P.R. Discussion Papers.
    67. Catarina Fernandes & Jorge Farinha & Francisco Vitorino Martins & Cesario Mateus, 2018. "Bank governance and performance: a survey of the literature," Journal of Banking Regulation, Palgrave Macmillan, vol. 19(3), pages 236-256, July.
    68. Deniz Igan & Prachi Mishra & Thierry Tressel, 2011. "A Fistful of Dollars: Lobbying and the Financial Crisis," NBER Chapters, in: NBER Macroeconomics Annual 2011, Volume 26, pages 195-230, National Bureau of Economic Research, Inc.
    69. Shah, Syed Zulfiqar Ali & Akbar, Saeed & Liu, Jia & Liu, Ziyu & Cao, Sichen, 2017. "CEO compensation and banks’ risk-taking during pre and post financial crisis periods," Research in International Business and Finance, Elsevier, vol. 42(C), pages 1489-1503.
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    60. Pietro A. Bianchi & Antonio Marra & Donato Masciandaro & Nicola Pecchiari, 2017. "Is It Worth Having the Sopranos on Board? Corporate Governance Pollution and Organized Crime: The Case of Italy," BAFFI CAREFIN Working Papers 1759, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    61. Bing Zhu & Colin Lizieri, 2024. "Local Beta: Has Local Real Estate Market Risk Been Priced in REIT Returns?," The Journal of Real Estate Finance and Economics, Springer, vol. 69(4), pages 682-718, November.
    62. Dimmock, Stephen G. & Gerken, William C. & Marietta-Westberg, Jennifer, 2015. "What determines the allocation of managerial ownership within firms? Evidence from investment management firms," Journal of Corporate Finance, Elsevier, vol. 30(C), pages 44-64.
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  18. Fahlenbrach, Rudiger & Stulz, Rene, 2008. "Managerial Ownership Dynamics and Firm Value," Working Paper Series 2007-12, Ohio State University, Charles A. Dice Center for Research in Financial Economics.

    Cited by:

    1. Ming Jia & Zhe Zhang, 2013. "Critical Mass of Women on BODs, Multiple Identities, and Corporate Philanthropic Disaster Response: Evidence from Privately Owned Chinese Firms," Journal of Business Ethics, Springer, vol. 118(2), pages 303-317, December.
    2. Korczak, Piotr & Liu, Xicheng, 2014. "Managerial shareholding policies and retention of vested equity incentives," Journal of Empirical Finance, Elsevier, vol. 27(C), pages 116-129.
    3. Jaemin Kim & Joon‐Seok Kim, 2022. "Arrests and indictments of corporate insiders, ownership structure, and corporate governance: Evidence from Korea," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 3580-3598, July.
    4. Farida Farida* & Adhika Ramadhan & Ratih Wijayanti, 2019. "The Influence of Good Corporate Governance and Corporate Social Responsibility on Firm Value: Evidence from Indonesia," International Journal of Economics and Financial Research, Academic Research Publishing Group, vol. 5(7), pages 177-183, 07-2019.
    5. Schnitzler, Jan, 2018. "S&P 500 inclusions and stock supply," Journal of Empirical Finance, Elsevier, vol. 48(C), pages 341-356.
    6. Ming Jia & Zhe Zhang, 2013. "Managerial Ownership and Corporate Social Performance: Evidence from Privately Owned Chinese Firms' Response to the Sichuan Earthquake," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 20(5), pages 257-274, September.
    7. Bong‐Chan Kho & René M. Stulz & Francis E. Warnock, 2009. "Financial Globalization, Governance, and the Evolution of the Home Bias," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 47(2), pages 597-635, May.
    8. Iftekhar Hasan & Krzysztof Jackowicz & Oskar Kowalewski & Łukasz Kozłowski, 2021. "Cultural values of parent bank board members and lending by foreign subsidiaries: The moderating role of personal traits," Working Papers 2021-ACF-09, IESEG School of Management.
    9. Yacine Belghitar & Ephraim Clark & Konstantino Kassimatis, 2019. "A measure of total firm performance: new insights for the corporate objective," Annals of Operations Research, Springer, vol. 281(1), pages 121-141, October.
    10. Lin, Yongjia Rebecca & Fu, Xiaoqing Maggie, 2017. "Does institutional ownership influence firm performance? Evidence from China," International Review of Economics & Finance, Elsevier, vol. 49(C), pages 17-57.
    11. Kim, E. Han & Lu, Yao, 2011. "CEO ownership, external governance, and risk-taking," Journal of Financial Economics, Elsevier, vol. 102(2), pages 272-292.
    12. Blonski, Matthias & von Lilienfeld-Toal, Ulf, 2008. "Excess returns and the distinguished player paradox," University of Göttingen Working Papers in Economics 78, University of Goettingen, Department of Economics.
    13. Alex Edmans & Xavier Gabaix & Tomasz Sadzik & Yuliy Sannikov, 2009. "Dynamic Incentive Accounts," NBER Working Papers 15324, National Bureau of Economic Research, Inc.
    14. Chen, Ming-Yuan, 2013. "Adjustments in managerial ownership and changes in firm value," International Review of Economics & Finance, Elsevier, vol. 25(C), pages 1-12.
    15. Sean Shenghsiu Huang & John R. Bowblis, 2018. "The principal–agent problem and owner‐managers: An instrumental variables application to nursing home quality," Health Economics, John Wiley & Sons, Ltd., vol. 27(11), pages 1653-1669, November.
    16. Robert Hull & Sungkyu Kwak & Rosemary Walker, 2012. "Explanation for market response to seasoned equity offerings," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 36(3), pages 634-661, July.
    17. Sun, Wenyi & Yin, Chao & Zeng, Yeqin, 2023. "Precautionary motive or private benefit motive for holding cash: Evidence from CEO ownership," International Review of Financial Analysis, Elsevier, vol. 90(C).
    18. Georgeta Vintila & Stefan Cristian Gherghina, 2014. "Insider Ownership and the Value of the Bucharest Stock Exchange Listed Companies: Convergence-of-Interest or Entrenchment Effect?," International Journal of Economics and Financial Issues, Econjournals, vol. 4(1), pages 183-195.
    19. Sun, Maogang & Li, Zhengyu & Yang, Lu, 2025. "Inconsistency across short-term and long-term oriented signals: Effect on investor reactions," Journal of Business Research, Elsevier, vol. 189(C).
    20. Martin Goetz & Luc Laeven & Ross Levine, 2020. "Do Bank Insiders Impede Equity Issuances?," NBER Working Papers 27442, National Bureau of Economic Research, Inc.
    21. Elena Merino & Montserrat Manzaneque & Yolanda Ramírez, 2019. "Value-added distribution to stakeholder of Spanish listed companies: a corporate governance perspective," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 23(3), pages 577-604, September.
    22. Qian, Meifen & Sun, Ping-Wen & Yu, Bin, 2018. "Top managerial power and stock price efficiency: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 47(C), pages 20-38.
    23. Daniel Ferreira Caixe & Elizabeth Krauter, 2014. "The Relation between corporate governance and market value:mitigating endogeneityProblems," Brazilian Business Review, Fucape Business School, vol. 11(1), pages 90-110, January.
    24. Amin Jan & Maran Marimuthu & Rohail Hassan & Mehreen, 2019. "Sustainable Business Practices and Firm’s Financial Performance in Islamic Banking: Under the Moderating Role of Islamic Corporate Governance," Sustainability, MDPI, vol. 11(23), pages 1-25, November.
    25. Si, Deng-Kui & Zhuang, Jiali & Ge, Xinyu & Yu, Yong, 2024. "The nexus between trade policy uncertainty and corporate financialization: Evidence from China," China Economic Review, Elsevier, vol. 84(C).
    26. Ni, Yensen & Huang, Paoyu & Chiang, Pinhui & Liao, Yulu, 2019. "Cash flow statements and firm value: Evidence from Taiwan," The Quarterly Review of Economics and Finance, Elsevier, vol. 71(C), pages 280-290.
    27. Borja Larrain & Peter Roosenboom & Giorgo Sertsios & Francisco Urzúa, 2024. "Ownership Concentration and Firm Value: New Evidence from Owner Stakes in IPOs," Management Science, INFORMS, vol. 70(7), pages 4441-4464, July.
    28. Mohammed Naif Alshareef, 2024. "Ownership Structure and Financial Sustainability of Saudi Listed Firms," Sustainability, MDPI, vol. 16(9), pages 1-14, April.
    29. Rihab Kriaa & Taher Hamza, 2021. "Control dilution of an initial owner post-IPO: the impact of characteristics of ownership structure," SN Business & Economics, Springer, vol. 1(3), pages 1-35, March.
    30. Basu, Nilanjan & Paeglis, Imants & Toffanin, Melissa, 2017. "Reading between the blocks," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 294-317.
    31. Fabisik, Kornelia & Fahlenbrach, Rüdiger & Stulz, René M. & Taillard, Jérôme P., 2021. "Why are firms with more managerial ownership worth less?," Journal of Financial Economics, Elsevier, vol. 140(3), pages 699-725.
    32. Po Li & Tingting Que & Jing Xie & Yuxiang Zhong, 2025. "Convertible Bonds and Firm Value: Evidence from China and Beyond," Working Papers 202522, University of Macau, Faculty of Business Administration.
    33. Hasan, Iftekhar & Lee, Haekwon & Qiu, Buhui & Saunders, Anthony, 2023. "Climate-related disclosure commitment of the lenders, credit rationing, and borrower environmental performance," Bank of Finland Research Discussion Papers 7/2023, Bank of Finland.
    34. Pascal Frantz & Norvald Instefjord, 2009. "Large shareholders and corporate governance," Economics of Governance, Springer, vol. 10(4), pages 297-321, November.
    35. Shanshan Yue & Saleh F. A. Khatib & Norkhairul Hafiz Bajuri & Hamid Ghazi H Sulimany & Yini Lee, 2025. "Executive Ownership and Minority Shareholder Protection: Drivers of Environmental Innovation in China's A‐Share Market," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(3), pages 3854-3873, May.
    36. Gao, Yang & Ling, Yun & Peng, Hui, 2024. "Before thrive, first survive: The impact of controlling shareholder pledging on corporate ESG performance," Pacific-Basin Finance Journal, Elsevier, vol. 85(C).
    37. Huang, Paoyu & Ni, Yensen, 2017. "Board structure and stock price informativeness in terms of moving average rules," The Quarterly Review of Economics and Finance, Elsevier, vol. 63(C), pages 161-169.
    38. Martin, Thorsten & Sonnenburg, Florian, 2015. "Managerial ownership changes and mutual fund performance," CFR Working Papers 16-03, University of Cologne, Centre for Financial Research (CFR).
    39. McConnell, John J. & Servaes, Henri & Lins, Karl V., 2008. "Changes in insider ownership and changes in the market value of the firm," Journal of Corporate Finance, Elsevier, vol. 14(2), pages 92-106, April.
    40. Matthias Blonski & Ulf Lilienfeld-Toal, 2023. "Moral hazard with excess returns," Mathematics and Financial Economics, Springer, volume 17, number 6, December.
    41. Pugachev, Leonid, 2022. "The risk-shifting value of payout: Evidence from bank enforcement actions," Journal of Banking & Finance, Elsevier, vol. 138(C).
    42. Akindayomi, Akinloye & Amin, Md Ruhul, 2022. "Does business strategy affect dividend payout policies?," Journal of Business Research, Elsevier, vol. 151(C), pages 531-550.
    43. Cready, William M. & Dai, Zhonglan & Ma, Guang & Nanda, Vikram, 2024. "Information in unexpected bonus cuts: Firm performance and CEO firings," Journal of Empirical Finance, Elsevier, vol. 76(C).
    44. Achleitner, Ann-Kristin & Kaserer, Christoph & Kauf, Tobias, 2012. "The dynamics of voting ownership in lone-founder, family-founder, and heir firms," Journal of Family Business Strategy, Elsevier, vol. 3(2), pages 79-96.
    45. Yuk Ying Chang & Martin Young, 2015. "Dissipative Competition: Evidence from a Quasi-Natural Experiment," International Review of Finance, International Review of Finance Ltd., vol. 15(2), pages 169-198, June.
    46. Henry Kimathi Mukaria & Mirie Mwangi & Duncan Elly Ochieng & Kennedy Okiro, 2020. "Mediating Effect of Agency Cost on the Relationship between Ownership Structure and Firm Value," Journal of Finance and Investment Analysis, SCIENPRESS Ltd, vol. 9(3), pages 1-3.
    47. Liao, Rose C., 2014. "What drives corporate minority acquisitions around the world? The case for financial constraints," Journal of Corporate Finance, Elsevier, vol. 26(C), pages 78-95.
    48. Likitwongkajon, Napaporn & Vithessonthi, Chaiporn, 2020. "Do foreign investments increase firm value and firm performance? Evidence from Japan," Research in International Business and Finance, Elsevier, vol. 51(C).
    49. Ma, Pengfei & Li, Chengcheng & Wang, Xiaoqiong, 2024. "Why do undervalued firms repurchase shares? Evidence based on the market-timing effect in China," Global Finance Journal, Elsevier, vol. 59(C).
    50. Oleksy Paweł & Zyguła Andrzej, 2017. "The Effect of Ownership Structure on Dividend Policy and Shareholder Value: A Financialisation Perspective on Construction Companies in Poland," Central European Economic Journal, Sciendo, vol. 3(50), pages 41-52, December.
    51. Shen, Huayu & Hou, Fei, 2021. "Trade policy uncertainty and corporate innovation evidence from Chinese listed firms in new energy vehicle industry," Energy Economics, Elsevier, vol. 97(C).
    52. Wei Li & Yaping Wang & Liansheng Wu & Jason Zezhong Xiao, 2017. "The Ethical Dimension of Management Ownership in China," Journal of Business Ethics, Springer, vol. 141(2), pages 381-392, March.
    53. Lan-Hui Lin & Chih-Kang Lien, 2025. "The Relationship between Third-Party Assurance Providers and Firm Value for Corporate Social Responsibility Reports," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 15(2), pages 1-4.
    54. Arifur Khan & Paul Mather & Balasingham Balachandran, 2014. "Managerial share ownership and operating performance: Do independent and executive directors have different incentives?," Australian Journal of Management, Australian School of Business, vol. 39(1), pages 47-71, February.
    55. Roger K. Loh, 2010. "Investor Inattention and the Underreaction to Stock Recommendations," Financial Management, Financial Management Association International, vol. 39(3), pages 1223-1252, September.
    56. Ujjayini Roy & Indrani Chakraborty, 2024. "Market concentration, promoter ownership and firm performance: evidence from Indian corporate firms," Indian Economic Review, Springer, vol. 59(1), pages 27-85, June.
    57. Rigamonti, Silvia, 2025. "Corporate control: Persistence and the shifting role of control-enhancing mechanisms in Italian listed firms (1978–2018)," International Review of Law and Economics, Elsevier, vol. 82(C).
    58. Alberto Tron & Maurizio Dallocchio & Salvatore Ferri & Federico Colantoni, 2023. "Corporate governance and financial distress: lessons learned from an unconventional approach," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 27(2), pages 425-456, June.
    59. Shahab, Yasir & Wang, Chong-xiao & Yeung, P. Eric & Zhou, Jia-nan, 2024. "The National Team: Stock market interventions and corporate catering behavior," International Review of Financial Analysis, Elsevier, vol. 93(C).
    60. Shakri, Irfan Haider & Yong, Jaime & Xiang, Erwei, 2022. "Does compliance with corporate governance increase profitability? Evidence from an emerging economy: Pakistan," Global Finance Journal, Elsevier, vol. 53(C).
    61. Dimopoulos, Theodosios & Sacchetto, Stefano, 2014. "Preemptive bidding, target resistance, and takeover premiums," Journal of Financial Economics, Elsevier, vol. 114(3), pages 444-470.
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    63. Guoping Liu & Jerry Sun, 2024. "Independent legal directors’ attitudes toward bank CEO stock option awards," European Journal of Law and Economics, Springer, vol. 58(1), pages 149-173, August.
    64. Wancheng Yang & Jinwen Xu & Yihan Zhang & Xiaodan Wei & Shaofeng Wang, 2023. "The incentive role of media companies’ executive compensation system in transformation and upgrading: Evidence from listed media companies in China," PLOS ONE, Public Library of Science, vol. 18(6), pages 1-19, June.
    65. Arantxa Jarque, 2014. "The Complexity of CEO Compensation," Working Paper 14-16, Federal Reserve Bank of Richmond.
    66. Achleitner, Ann-Kristin & Kaserer, Christoph & Ampenberger, Markus & Bitsch, Florian, 2009. "The German entrepreneurial index (GEX®): a primer on an ownership-based style index in Germany," CEFS Working Paper Series 2009-13, Technische Universität München (TUM), Center for Entrepreneurial and Financial Studies (CEFS).
    67. Maria Boutchkova & Diego Cueto & Angelica Gonzalez, 2022. "Test power properties of within-firm estimators of ownership and board-related explanatory variables with low time variation," Review of Quantitative Finance and Accounting, Springer, vol. 59(3), pages 1215-1269, October.
    68. Yensen Ni & Yulu Liao & Paoyu Huang, 2017. "Foreign Institutional Investors, Shareholding Change, and Corporate Governance," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 53(4), pages 764-775, April.

  19. Fahlenbrach, Rudiger & Low, Angie & Stulz, Rene, 2008. "Why Do Firms Appoint CEOs as Outside Directors?," Working Paper Series 2008-10, Ohio State University, Charles A. Dice Center for Research in Financial Economics.

    Cited by:

    1. Eisfeldt, Andrea L. & Kuhnen, Camelia M., 2013. "CEO turnover in a competitive assignment framework," Journal of Financial Economics, Elsevier, vol. 109(2), pages 351-372.
    2. Field, Laura Casares & Mkrtchyan, Anahit, 2017. "The effect of director experience on acquisition performance," Journal of Financial Economics, Elsevier, vol. 123(3), pages 488-511.
    3. B. Espen Eckbo & Knut Nygaard & Karin S. Thorburn, 2022. "Valuation Effects of Norway’s Board Gender-Quota Law Revisited," Management Science, INFORMS, vol. 68(6), pages 4112-4134, June.
    4. Renée Adams & Benjamin E. Hermalin & Michael S. Weisbach, 2008. "The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey," NBER Working Papers 14486, National Bureau of Economic Research, Inc.
    5. Bischoff, Oliver & Buchwald, Achim, 2015. "Horizontal and Vertical Firm Networks, Corporate Performance and Product Market Competition," MPRA Paper 63413, University Library of Munich, Germany.
    6. von Meyerinck, Felix & Oesch, David & Schmid, Markus, 2012. "Is Director Industry Experience Valuable?," Working Papers on Finance 1217, University of St. Gallen, School of Finance.
    7. Fernández Méndez, Carlos & Pathan, Shams & Arrondo García, Rubén, 2015. "Monitoring capabilities of busy and overlap directors: Evidence from Australia," Pacific-Basin Finance Journal, Elsevier, vol. 35(PA), pages 444-469.
    8. Ogoe, Satoshi & Suzuki, Katsushi, 2023. "Former CEO advisors and firm performance," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    9. Lel, Ugur & Miller, Darius, 2019. "The labor market for directors and externalities in corporate governance: Evidence from the international labor market," Journal of Accounting and Economics, Elsevier, vol. 68(1).
    10. An, Suwei & Liu, Yi & Tan, Xiaofen & Wu, Kai, 2024. "Manager sentiment, deal characteristics, and takeover performance," The British Accounting Review, Elsevier, vol. 56(6).
    11. Alexander Muravyev & Oleksandr Talavera & Charlie Weir, 2016. "Performance effects of appointing other firms’ executive directors to corporate boards: an analysis of UK firms," Review of Quantitative Finance and Accounting, Springer, vol. 46(1), pages 25-45, January.
    12. Julia Brennecke & Olaf N. Rank, 2017. "Tie heterogeneity in networks of interlocking directorates: a cost–benefit approach to firms’ tie choice," Business Research, Springer;German Academic Association for Business Research, vol. 10(1), pages 97-122, June.
    13. Volonté, Christophe, 2015. "Boards: Independent and committed directors?," International Review of Law and Economics, Elsevier, vol. 41(C), pages 25-37.
    14. Emmadonata Carbone & Sara Saggese & Fabrizia Sarto, 2023. "La relazione tra l?esperienza degli amministratori e il business plan: un?indagine empirica sulle imprese quotate in Italia," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2023(1), pages 69-94.
    15. Balsmeier, Benjamin & Fleming, Lee & Manso, Gustavo, 2017. "Independent boards and innovation," Journal of Financial Economics, Elsevier, vol. 123(3), pages 536-557.
    16. Martin Bugeja & Yaowen Shan & Yanglan Zu, 2024. "The disciplinary role of unsuccessful takeovers and changes in corporate governance," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(1), pages 941-973, March.
    17. Fan, Yaoyao & Ly, Kim Cuong & Jiang, Yuxiang, 2023. "Institutional investor networks and firm innovation: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 89(C).
    18. Axel Kind & Christophe Volonté, 2024. "Locally-rooted directors," Review of Quantitative Finance and Accounting, Springer, vol. 63(2), pages 633-678, August.
    19. Balsmeier, Benjamin & Buchwald, Achim & Stiebale, Joel, 2014. "Outside directors on the board and innovative firm performance," Research Policy, Elsevier, vol. 43(10), pages 1800-1815.
    20. Charlie Weir & Oleksandr Talavera & Alexander Muravyev, 2011. "The Return on Human Capital: the Case of UK Non-executive Directors that are also Executive Directors," University of East Anglia Applied and Financial Economics Working Paper Series 029, School of Economics, University of East Anglia, Norwich, UK..
    21. Madhur Bhatia & Rachita Gulati, 2022. "Are boards ‘substitute’ or ‘complement’ dividend payout? Econometric evidence for Indian banks," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 51(2), July.
    22. Eugene Kang & Mark Kroll, 2014. "Deciding Who Will Rule: Examining the Influence of Outside Noncore Directors on Executive Entrenchment," Organization Science, INFORMS, vol. 25(6), pages 1662-1683, December.
    23. Steve Sauerwald & Zhiang (John) Lin & Mike W. Peng, 2016. "Board social capital and excess CEO returns," Strategic Management Journal, Wiley Blackwell, vol. 37(3), pages 498-520, March.
    24. Chen, Jie & Liu, Xicheng & Song, Wei & Zhou, Si, 2020. "General managerial skills and corporate social responsibility," Journal of Empirical Finance, Elsevier, vol. 55(C), pages 43-59.
    25. Huang, Qianqian & Jiang, Feng & Lie, Erik & Yang, Ke, 2014. "The role of investment banker directors in M&A," Journal of Financial Economics, Elsevier, vol. 112(2), pages 269-286.
    26. Brian Bolton & Jing Zhao, 2022. "Busy Boards, Entrenched Directors and Corporate Innovation," IJFS, MDPI, vol. 10(4), pages 1-34, September.
    27. Caiji Pang & Ying Wang, 2021. "Political connections, legal environments and firm performance around the world," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 4393-4409, July.
    28. Kiyoung Chang & Jean Kabongo & Ying Li, 2021. "Geographic proximity, long-term institutional ownership, and corporate social responsibility," Review of Quantitative Finance and Accounting, Springer, vol. 56(1), pages 297-328, January.
    29. Ron Bird & Peng Huang & Yue Lu, 2018. "Board independence and the variability of firm performance: Evidence from an exogenous regulatory shock," Australian Journal of Management, Australian School of Business, vol. 43(1), pages 3-26, February.
    30. Etienne Redor, 2016. "Board attributes and shareholder wealth in mergers and acquisitions: a survey of the literature," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 20(4), pages 789-821, December.
    31. Chistopher Day & Martin Bugeja & Helen Spiropoulos & Zoltan Matolcsy, 2023. "Non‐executive directorship importance and takeover hostility: Australian evidence," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(1), pages 769-793, March.
    32. Arora, Punit & Gaur, Ajai, 2022. "Peer directors’ effort, firm efficiency and performance of diversified firms: An efficacy-based view of governance," Journal of Business Research, Elsevier, vol. 151(C), pages 593-608.
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    34. Lawrence, Edward R. & Nguyen, Thanh D. & Upadhyay, Arun, 2024. "Independence of board leadership of acquirers and the success of mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 86(C).
    35. Sila, Vathunyoo & Gonzalez, Angelica & Hagendorff, Jens, 2017. "Independent director reputation incentives and stock price informativeness," Journal of Corporate Finance, Elsevier, vol. 47(C), pages 219-235.
    36. Masulis, Ronald W. & Wang, Cong & Xie, Fei, 2012. "Globalizing the boardroom—The effects of foreign directors on corporate governance and firm performance," Journal of Accounting and Economics, Elsevier, vol. 53(3), pages 527-554.
    37. Isaka, Naoto, 2017. "When are uninformed boards preferable?," Pacific-Basin Finance Journal, Elsevier, vol. 46(PA), pages 191-211.
    38. Marie Lalanne, 2023. "Network‐based appointments and board diversity," Economica, London School of Economics and Political Science, vol. 90(358), pages 409-452, April.
    39. Sudipta Bose & Muhammad Jahangir Ali & Sarowar Hossain & Abul Shamsuddin, 2022. "Does CEO–Audit Committee/Board Interlocking Matter for Corporate Social Responsibility?," Journal of Business Ethics, Springer, vol. 179(3), pages 819-847, September.
    40. Faleye, Olubunmi & Krishnan, Karthik, 2017. "Risky lending: Does bank corporate governance matter?," Journal of Banking & Finance, Elsevier, vol. 83(C), pages 57-69.
    41. Jong-Min Kim & Chulhee Jun & Hope H. Han, 2020. "Sustainable Causal Interpretation with Board Characteristics: Caveat Emptor," Sustainability, MDPI, vol. 12(8), pages 1-18, April.
    42. Fedaseyeu, Viktar & Linck, James S. & Wagner, Hannes F., 2018. "Do qualifications matter? New evidence on board functions and director compensation," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 816-839.
    43. Wang, Yuhan & Hao, Jinxing & Guo, Hui & Xian, Maoyang & Liao, Qiang, 2025. "How green strategic alliances enhance green innovation: Mechanisms and evidence in China," Finance Research Letters, Elsevier, vol. 77(C).
    44. Felix von Meyerinck & Alexandra Niessen-Ruenzi & Markus Schmid & Steven Davidoff Solomon, 2019. "As California goes, so goes the nation? Board gender quotas and the legislation of non-economic values," Working Papers on Finance 1904, University of St. Gallen, School of Finance, revised Dec 2019.
    45. Kim, Hyemin & Fahlenbrach, Rüdiger & Low, Angie, 2023. "CEO networks and the labor market for directors," Journal of Empirical Finance, Elsevier, vol. 70(C), pages 1-21.
    46. Jun†Koo Kang & Le Zhang, 2018. "Do Outside Directors with Government Experience Create Value?," Financial Management, Financial Management Association International, vol. 47(2), pages 209-251, June.
    47. Qi Wang & Maoxia Sun & Kongwen Wang, 2023. "Do Reputation Incentives Matter? Busy Directors and Corporate Social Responsibility in China," Sustainability, MDPI, vol. 15(6), pages 1-17, March.
    48. Swarnodeep Homroy & Aurelie Slechten, 2019. "Do Board Expertise and Networked Boards Affect Environmental Performance?," Journal of Business Ethics, Springer, vol. 158(1), pages 269-292, August.
    49. Ying Dou & Sidharth Sahgal & Emma Jincheng Zhang, 2015. "Should Independent Directors Have Term Limits? The Role of Experience in Corporate Governance," Financial Management, Financial Management Association International, vol. 44(3), pages 583-621, September.
    50. Upadhyay, Arun, 2023. "Rising board gender diversity and incentives of female directors," Journal of Corporate Finance, Elsevier, vol. 80(C).
    51. Zinat S. Alam & Mark A. Chen & Conrad S. Ciccotello & Harley E. Ryan, 2018. "Board Structure Mandates: Consequences for Director Location and Financial Reporting," Management Science, INFORMS, vol. 64(10), pages 4735-4754, October.
    52. Byrka-Kita, Katarzyna & Czerwiński, Mateusz & Ferris, Stephen P. & Preś-Perepeczo, Agnieszka & Wiśniewski, Tomasz, 2025. "CEO casting call: Investor attention to corporate leadership appointments," Global Finance Journal, Elsevier, vol. 64(C).
    53. Sun, Jerry & Cahan, Steven F. & Emanuel, David, 2009. "Compensation committee governance quality, chief executive officer stock option grants, and future firm performance," Journal of Banking & Finance, Elsevier, vol. 33(8), pages 1507-1519, August.
    54. Inmaculada Bel‐Oms & María Consuelo Pucheta‐Martínez & Isabel Gallego‐Álvarez, 2025. "Do CEO Attributes in the Energy Sector Matter in Sustainability Performance? The Moderating Role Performed by Board Gender Diversity," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(3), pages 3997-4018, May.
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    Cited by:

    1. Jeremy Burke & Angela A. Hung & Jack Clift & Steven Garber & Joanne K. Yoong, 2015. "Impacts of Conflicts of Interest in the Financial Services Industry," Working Papers WR-1076, RAND Corporation.

  22. Fahlenbrach, Rudiger & Minton, Bernadette A. & Pan, Carrie H., 2007. "The Market for Comeback CEOs," Working Paper Series 2007-4, Ohio State University, Charles A. Dice Center for Research in Financial Economics.

    Cited by:

    1. Byrka-Kita, Katarzyna & Czerwiński, Mateusz & Ferris, Stephen P. & Preś-Perepeczo, Agnieszka & Wiśniewski, Tomasz, 2025. "CEO casting call: Investor attention to corporate leadership appointments," Global Finance Journal, Elsevier, vol. 64(C).

  23. Cronqvist, Henrik & Fahlenbrach, Rudiger, 2007. "Large Shareholders and Corporate Policies," Working Paper Series 2006-14, Ohio State University, Charles A. Dice Center for Research in Financial Economics.

    Cited by:

    1. Jun Lu & Wei Wang, 2015. "Board independence and corporate investments," Review of Financial Economics, John Wiley & Sons, vol. 24(1), pages 52-64, January.
    2. Runsen Yuan & Chunling Li & Xinjie Cao & Nian Li & Nosherwan Khaliq, 2022. "Research on the Influence of Mixed-Ownership Reform on Exploratory Innovation of SOEs: The Mediation Effect of Agency Conflict and Financing Constraint," SAGE Open, , vol. 12(2), pages 21582440221, May.
    3. Sang Cheol Lee & Mooweon Rhee & Jongchul Yoon, 2018. "Foreign Monitoring and Audit Quality: Evidence from Korea," Sustainability, MDPI, vol. 10(9), pages 1-22, September.
    4. Antoinette Schoar & Ebonya L. Washington, 2011. "Are the Seeds of Bad Governance Sown in Good Times?," NBER Working Papers 17061, National Bureau of Economic Research, Inc.
    5. Anup Agrawal & Tareque Nasser, 2018. "Corporate Financial and Investment Policies in the Presence of a Blockholder on the Board," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 8(03), pages 1-59, September.
    6. Dang, Man & Henry, Darren & Hoang, Viet Anh Duong, 2017. "Target CEO age, ownership decisions, and takeover outcomes," Research in International Business and Finance, Elsevier, vol. 42(C), pages 769-783.
    7. Schouten, Michael C., 2009. "The Case for Mandatory Ownership Disclosure," MPRA Paper 14139, University Library of Munich, Germany, revised 13 Mar 2009.
    8. Thuy Bui, 2022. "Corporate blockholders and financial leverage," The Financial Review, Eastern Finance Association, vol. 57(3), pages 559-583, August.
    9. Vo, Xuan Vinh, 2015. "Foreign ownership and stock return volatility – Evidence from Vietnam," Journal of Multinational Financial Management, Elsevier, vol. 30(C), pages 101-109.
    10. Watson, Justin & How, Janice & Verhoeven, Peter, 2024. "Hedge fund activism, R&D efficiency and firm value," Research in International Business and Finance, Elsevier, vol. 71(C).
    11. Le Lin & Ke Liao & Deren Xie, 2023. "When Investors Speak, Do Firms Listen? The Role of Investors' Dividend‐related Complaints from Online Earnings Communication Conferences," Abacus, Accounting Foundation, University of Sydney, vol. 59(1), pages 32-75, March.
    12. Yin, Chao & Ward, Charles & Tsolacos, Sotiris, 2018. "Motivated monitoring: The importance of the institutional investment horizon," International Review of Financial Analysis, Elsevier, vol. 60(C), pages 197-212.
    13. Larrain, Borja & Urzúa I., Francisco, 2013. "Controlling shareholders and market timing in share issuance," Journal of Financial Economics, Elsevier, vol. 109(3), pages 661-681.
    14. Guthrie, Katherine & Sokolowsky, Jan, 2010. "Large shareholders and the pressure to manage earnings," Journal of Corporate Finance, Elsevier, vol. 16(3), pages 302-319, June.
    15. Tran, Tam & Wilson, Craig & Yang, Fan, 2025. "Executive overconfidence, corporate investment, and institutional ownership: Evidence from Vietnam," Emerging Markets Review, Elsevier, vol. 68(C).
    16. Thomas J. Chemmanur & Zeyu Sun & Jing Xie, 2024. "Keeping up with the Joneses: Corporate Dividends and Common Institutional Blockholders," Working Papers 202407, University of Macau, Faculty of Business Administration.
    17. Faff, Robert & Kwok, Wing Chun & Podolski, Edward J. & Wong, George, 2016. "Do corporate policies follow a life-cycle?," Journal of Banking & Finance, Elsevier, vol. 69(C), pages 95-107.
    18. Fang, Yiwei & Fiordelisi, Franco & Hasan, Iftekhar & Leung, Woon Sau & Wong, Gabriel, 2023. "Corporate culture and firm value: Evidence from crisis," Journal of Banking & Finance, Elsevier, vol. 146(C).
    19. Sudam Shingade & Shailesh Rastogi & Venkata Mrudula Bhimavarapu & Abhijit Chirputkar, 2022. "Shareholder Activism and Its Impact on Profitability, Return, and Valuation of the Firms in India," JRFM, MDPI, vol. 15(4), pages 1-20, March.
    20. Dang, Man & Henry, Darren & Yin, Xiangkang & Vo, Thuy Anh, 2018. "Target corporate governance, acquirers' location choices, and partial acquisitions," Pacific-Basin Finance Journal, Elsevier, vol. 50(C), pages 82-104.
    21. Claudio Loderer & René Stulz & Urs Waelchli, 2017. "Firm Rigidities and the Decline in Growth Opportunities," Management Science, INFORMS, vol. 63(9), pages 3000-3020, September.
    22. C. S. Agnes Cheng & Xiaohui (Fiona) Li & Jing Xie & Yuxiang Zhong, 2023. "Accounting conservatism and common ownership by dedicated institutional blockholders," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 50(9-10), pages 1943-1983, October.
    23. Goldman, Eitan & Strobl, Günter, 2013. "Large shareholder trading and the complexity of corporate investments," Journal of Financial Intermediation, Elsevier, vol. 22(1), pages 106-122.
    24. Sen Wang & Feng Liu, 2018. "The Impact of Governance Mechanism of Financial Listed Companies on the Pay and the Pay-Performance Sensitivity of Executives," International Journal of Business and Management, Canadian Center of Science and Education, vol. 13(3), pages 233-233, February.
    25. Marc van Essen & J. (Hans) van Oosterhout & Pursey P. M. A. R. Heugens, 2013. "Competition and Cooperation in Corporate Governance: The Effects of Labor Institutions on Blockholder Effectiveness in 23 European Countries," Organization Science, INFORMS, vol. 24(2), pages 530-551, April.
    26. Sanjana Bhakar & Priti Sharma & Sanjiv Kumar, 2024. "Ownership Structure and Firm Performance: A Comprehensive Review and Empirical Analysis," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(4), pages 19824-19865, December.
    27. Sara De Masi & Kose John & Agnieszka Słomka-Gołębiowska & Piotr Urbanek, 2023. "Regulation and post-crisis pay disclosure strategies of banks," Review of Quantitative Finance and Accounting, Springer, vol. 61(4), pages 1243-1275, November.
    28. Golbe, Devra L. & Nyman, Ingmar, 2013. "How do share repurchases affect ownership concentration?," Journal of Corporate Finance, Elsevier, vol. 20(C), pages 22-40.
    29. Lu, Jun & Wang, Wei, 2015. "Board independence and corporate investments," Review of Financial Economics, Elsevier, vol. 24(C), pages 52-64.
    30. Lai, Tat-kei & Ng, Travis & Tsang, Kwok Ping, 2025. "Do foreign firms cater to American investors’ dividend desires?," Journal of International Money and Finance, Elsevier, vol. 158(C).
    31. Yonca Ertimur & Fabrizio Ferri & David Oesch, 2013. "Shareholder Votes and Proxy Advisors: Evidence from Say on Pay," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 51(5), pages 951-996, December.
    32. Joseph P. Hughes & Loretta J. Mester, 2012. "A Primer on Market Discipline and Governance of Financial Institutions for Those in a State of Shocked Disbelief," Departmental Working Papers 201204, Rutgers University, Department of Economics.
    33. Drobetz, Wolfgang & Janzen, Malte & Requejo, Ignacio, 2019. "Capital allocation and ownership concentration in the shipping industry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 122(C), pages 78-99.
    34. Ye Cai & Dan S. Dhaliwal & Yongtae Kim & Carrie Pan, 2014. "Board interlocks and the diffusion of disclosure policy," Review of Accounting Studies, Springer, vol. 19(3), pages 1086-1119, September.
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    37. 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.
    38. Anantavrasilp, Sereeparp & De Jong, Abe & DeJong, Douglas V. & Hege, Ulrich, 2019. "Blockholder Leverage and Payout Policy: Evidence from French Holding Companies," TSE Working Papers 19-1045, Toulouse School of Economics (TSE).
    39. Mazur, Mieszko & Salganik-Shoshan, Galla, 2017. "Teaming up and quiet intervention: The impact of institutional investors on executive compensation policies," Journal of Financial Markets, Elsevier, vol. 35(C), pages 65-83.
    40. Onur Kemal Tosun, 2020. "Differences in CEO compensation under large and small institutional ownership," European Financial Management, European Financial Management Association, vol. 26(4), pages 1031-1058, September.
    41. Nicole Bäuerle & Tamara Göll, 2024. "Nash equilibria for relative investors with (non)linear price impact," Mathematics and Financial Economics, Springer, volume 18, number 2, December.
    42. von Lilienfeld-Toal, Ulf & Schnitzler, Jan, 2020. "The anatomy of block accumulations by activist shareholders," Journal of Corporate Finance, Elsevier, vol. 62(C).
    43. Marquardt, Blair B. & Sanchez, Juan Manuel, 2022. "Blockholder board representation and debt contracting," Journal of Banking & Finance, Elsevier, vol. 142(C).
    44. Chen, Zhian & Du, Jinmin & Li, Donghui & Ouyang, Rui, 2013. "Does foreign institutional ownership increase return volatility? Evidence from China," Journal of Banking & Finance, Elsevier, vol. 37(2), pages 660-669.
    45. Mazur, Mieszko & Salganik-Shoshan, Galla & Walker, Thomas & Wang, Jun, 2018. "Proximity and litigation: Evidence from the geographic location of institutional investors," Journal of Financial Markets, Elsevier, vol. 40(C), pages 60-74.
    46. Ravid, S. Abraham & Sekerci, Naciye, 2020. "Large investors’ portfolio composition and firms value," Journal of Corporate Finance, Elsevier, vol. 61(C).
    47. Wruck, Karen H. & Wu, YiLin, 2021. "The relation between CEO equity incentives and the quality of accounting disclosures: New evidence," Journal of Corporate Finance, Elsevier, vol. 67(C).
    48. Sven-Olof Yrjö Collin & Yuliya Ponomareva & Sara Ottosson & Nina Sundberg, 2017. "Governance strategy and costs: board compensation in Sweden," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 21(3), pages 685-713, September.
    49. Huang, Wan & Bai, Yufan & Luo, Hong, 2024. "Does the geographic location of Blockholders matter? Evidence from Chinese Firms' cross-regional investment," Pacific-Basin Finance Journal, Elsevier, vol. 88(C).
    50. Lin, Tsui-Jung & Tsai, Han-Fang & Imamah, Nur & Hung, Jung-Hua, 2016. "Does the identity of multiple large shareholders affect the value of excess cash? Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 40(PA), pages 173-190.
    51. Matanova, Natalia & Steigner, Tanja & Sutton, Ninon & Thompson, Linh, 2022. "The influence of private equity and venture capital on the post-IPO performance of newly-public acquirers," The North American Journal of Economics and Finance, Elsevier, vol. 59(C).
    52. Mark Mietzner & Denis Schweizer, 2014. "Hedge funds versus private equity funds as shareholder activists in Germany — differences in value creation," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 38(2), pages 181-208, April.
    53. Basu, Nilanjan & Paeglis, Imants & Toffanin, Melissa, 2017. "Reading between the blocks," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 294-317.
    54. 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.
    55. Kim, Kyonghee, 2010. "Blockholder monitoring and the efficiency of pay-performance benchmarking," Journal of Corporate Finance, Elsevier, vol. 16(5), pages 748-766, December.
    56. Chwee Ming Tee & Angelina Seow Voon Yee & Aik Lee Chong, 2018. "Institutional Investors’ Monitoring and Stock Price Crash Risk: Evidence from Politically Connected Firms," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 21(04), pages 1-35, December.
    57. Tina He & Wilson Li & Gordon Tang, 2012. "Dividends Behavior in State- Versus Family-Controlled Firms: Evidence from Hong Kong," Journal of Business Ethics, Springer, vol. 110(1), pages 97-112, September.
    58. Dennis C. Hutschenreiter & Anna Toldrà-Simats & Bing Guo & David Pérez-Castrillo, 2023. "Institutional Blockholders and Corporate Innovation," Working Papers 1390, Barcelona School of Economics.
    59. Edmans, Alex, 2013. "Blockholders and Corporate Governance," CEPR Discussion Papers 9708, C.E.P.R. Discussion Papers.
    60. Schouten, Michael C., 2009. "The Case for Mandatory Ownership Disclosure," MPRA Paper 12800, University Library of Munich, Germany.
    61. Massa, Massimo & Žaldokas, Alminas, 2017. "Information transfers among co-owned firms," Journal of Financial Intermediation, Elsevier, vol. 31(C), pages 77-92.
    62. Wang, Qin (Emma) & Zhang, Jun, 2023. "Local institutional investors and debt maturity," Journal of Financial Markets, Elsevier, vol. 62(C).
    63. Dang, Man & Henry, Darren, 2016. "Partial-control versus full-control acquisitions: Does target corporate governance matter? Evidence from eight East and Southeast Asian countries," Pacific-Basin Finance Journal, Elsevier, vol. 40(PB), pages 251-265.
    64. Alvarez, Roberto & Jara, Mauricio & Pombo, Carlos, 2018. "Do institutional blockholders influence corporate investment? Evidence from emerging markets," Journal of Corporate Finance, Elsevier, vol. 53(C), pages 38-64.
    65. Edmans, Alex & Holderness, Clifford, 2016. "Blockholders: A Survey of Theory and Evidence," CEPR Discussion Papers 11442, C.E.P.R. Discussion Papers.
    66. Thomas Poulsen, 2013. "Corporate control and underinvestment," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 17(1), pages 131-155, February.
    67. Engel, Pascal J. & Hack, Andreas & Kellermanns, Franz W., 2015. "Setting the right mix—Analyzing outside directors’ pay mix in public family firms," Journal of Family Business Strategy, Elsevier, vol. 6(2), pages 130-140.
    68. Achleitner, Ann-Kristin & Kaserer, Christoph & Kauf, Tobias, 2012. "The dynamics of voting ownership in lone-founder, family-founder, and heir firms," Journal of Family Business Strategy, Elsevier, vol. 3(2), pages 79-96.
    69. Victor Esteban Jarosiewicz, 2019. "CEO Compensation after Harvester Director Departure," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 9(01), pages 1-21, March.
    70. David Hillier, 2010. "Discussion of Block Buying and Choice of Issue Method in UK Seasoned Equity Offers," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 37(3‐4), pages 449-455, April.
    71. Schmidt, Cornelius & Fahlenbrach, Rüdiger, 2017. "Do exogenous changes in passive institutional ownership affect corporate governance and firm value?," Journal of Financial Economics, Elsevier, vol. 124(2), pages 285-306.
    72. Hae Won (Henny) Jung & Ajay Subramanian, 2014. "Capital Structure under Heterogeneous Beliefs," Review of Finance, European Finance Association, vol. 18(5), pages 1617-1681.
    73. Anderson, Ronald C. & Duru, Augustine & Reeb, David M., 2012. "Investment policy in family controlled firms," Journal of Banking & Finance, Elsevier, vol. 36(6), pages 1744-1758.
    74. 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.
    75. Pattarin Adithipyangkul & Tak Yan Leung, 2016. "Large Shareholders and Independent Director Equity Compensation," Australian Accounting Review, CPA Australia, vol. 26(2), pages 208-221, June.
    76. Purkayastha, Saptarshi & Veliyath, Rajaram & George, Rejie, 2019. "The roles of family ownership and family management in the governance of agency conflicts," Journal of Business Research, Elsevier, vol. 98(C), pages 50-64.
    77. Fich, Eliezer M. & Harford, Jarrad & Tran, Anh L., 2015. "Motivated monitors: The importance of institutional investors׳ portfolio weights," Journal of Financial Economics, Elsevier, vol. 118(1), pages 21-48.
    78. Denes, Matthew R. & Karpoff, Jonathan M. & McWilliams, Victoria B., 2017. "Thirty years of shareholder activism: A survey of empirical research," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 405-424.
    79. Abdelsalam, Omneya & Chantziaras, Antonios & Batten, Jonathan A. & Aysan, Ahmet Faruk, 2021. "Major shareholders’ trust and market risk: Substituting weak institutions with trust," Journal of Corporate Finance, Elsevier, vol. 66(C).
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    81. Marc Essen & J. Oosterhout & Michael Carney, 2012. "Corporate boards and the performance of Asian firms: A meta-analysis," Asia Pacific Journal of Management, Springer, vol. 29(4), pages 873-905, December.
    82. Murat Aydogdu & Hakan Saraoglu & David Louton, 2019. "Using long short‐term memory neural networks to analyze SEC 13D filings: A recipe for human and machine interaction," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 26(4), pages 153-163, October.
    83. Rabbiosi, Larissa & Gregorič, Aleksandra & Stucchi, Tamara, 2019. "Diaspora Ownership and Homeland Firms' Internationalization," Journal of International Management, Elsevier, vol. 25(3), pages 1-1.
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  24. Fahlenbrach, Rudiger, 2006. "Founder-CEOs, Investment Decisions, and Stock Market Performance," Working Paper Series 2004-20, Ohio State University, Charles A. Dice Center for Research in Financial Economics.

    Cited by:

    1. Hickfang, Michael & Holder, Ulrike, 2018. "The impact of stock options on risk-taking: Founder-CEOs and innovation," Discussion Papers of the Institute for Organisational Economics 12/2018, University of Münster, Institute for Organisational Economics.
    2. Eugster, Nicolas, 2019. "Family firms and financial analyst activity," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
    3. Harris, Jeremiah & O'Brien, William, 2018. "U.S. worldwide taxation and domestic mergers and acquisitions," Journal of Accounting and Economics, Elsevier, vol. 66(2), pages 419-438.
    4. Mario Daniele Amore & Orsola Garofalo & Mircea Epure, 2023. "Organizational Identity and Performance: An inquiry into Nonconforming Company Names," Working Papers 1408, Barcelona School of Economics.
    5. Jaemin Kim & Joon‐Seok Kim, 2022. "Arrests and indictments of corporate insiders, ownership structure, and corporate governance: Evidence from Korea," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 3580-3598, July.
    6. Peng, Jinxia & Ding, Li, 2025. "Learning for practice? The impact of executives' higher education experience on corporate entrepreneurship," Finance Research Letters, Elsevier, vol. 85(PA).
    7. Charlotte L. Schuster & Alexander T. Nicolai & Jeffrey G. Covin, 2020. "Are Founder-Led Firms Less Susceptible to Managerial Myopia?," Entrepreneurship Theory and Practice, , vol. 44(3), pages 391-421, May.
    8. Isakov, Dušan & Weisskopf, Jean-Philippe, 2014. "Are founding families special blockholders? An investigation of controlling shareholder influence on firm performance," Journal of Banking & Finance, Elsevier, vol. 41(C), pages 1-16.
    9. Qian Wang & Xiaojie Pei & Huigang Liang, 2022. "Founder CEO, CEO Characteristics, and Firm Innovation Efficiency: An Empirical Study of China’s GEM-Listed Companies," Sustainability, MDPI, vol. 14(14), pages 1-22, July.
    10. Daniel Tzabbar & Jaclyn Margolis, 2017. "Beyond the Startup Stage: The Founding Team’s Human Capital, New Venture’s Stage of Life, Founder–CEO Duality, and Breakthrough Innovation," Organization Science, INFORMS, vol. 28(5), pages 857-872, October.
    11. Thomas D. Shohfi & Roger M. White, 2020. "The dark side of individual blockholder philanthropy," Financial Management, Financial Management Association International, vol. 49(3), pages 741-767, September.
    12. Sahaym, Arvin & Cho, Sam Yul & Kim, Sang Kyun & Mousa, Fariss-Terry, 2016. "Mixed blessings: How top management team heterogeneity and governance structure influence the use of corporate venture capital by post-IPO firms," Journal of Business Research, Elsevier, vol. 69(3), pages 1208-1218.
    13. Ing-Haw Cheng & Harrison Hong & Kelly Shue, 2023. "Do Managers Do Good with Other People’s Money?," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 12(3), pages 443-487.
    14. Limbach, Peter & Sonnenburg, Florian, 2015. "Does CEO fitness matter?," CFR Working Papers 14-12 [rev.3], University of Cologne, Centre for Financial Research (CFR).
    15. Hsiao‐Wen Wang & Hsin‐Yu Chen & Shu‐Hsing Li, 2023. "R&D expenditures and CEO compensation policy: The effect of corporate control and market competition on managerial opportunism," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(6), pages 3625-3644, September.
    16. Huimin Li & Harley E. Ryan, 2022. "Founding family ownership and firm performance: Evidence from the evolution of family ownership and firm policies," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(7-8), pages 1391-1424, July.
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    149. Lee, Joon Mahn & Kim, Jongsoo & Bae, Joonhyung, 2020. "Founder CEOs and innovation: Evidence from CEO sudden deaths in public firms," Research Policy, Elsevier, vol. 49(1).
    150. Stephen E. Lanivich & Nadia Zahoor & Francis Donbesuur & Domnan Miri & Samuel Adomako, 2025. "Entrepreneurial alertness: A mechanism for innovation and growth in an emerging economy," Asia Pacific Journal of Management, Springer, vol. 42(1), pages 109-136, March.
    151. Goergen, Marc & Limbach, Peter & Scholz-Daneshgari, Meik, 2020. "Firms' rationales for CEO duality: Evidence from a mandatory disclosure regulation," Journal of Corporate Finance, Elsevier, vol. 65(C).
    152. Dimopoulos, Theodosios & Sacchetto, Stefano, 2014. "Preemptive bidding, target resistance, and takeover premiums," Journal of Financial Economics, Elsevier, vol. 114(3), pages 444-470.
    153. Achleitner, Ann-Kristin & Braun, Reiner & Kaserer, Christoph & Jarchow, Svenja & Keppler, Henry & Szewczyk, Justin, 2019. "Börsennotierte Familienunternehmen in Deutschland: Bedeutung, Merkmale, Performance," Studien, Stiftung Familienunternehmen / Foundation for Family Businesses, number 250033.
    154. Breuer, Wolfgang & Knetsch, Andreas, 2022. "Informal authority and economic outcomes of family firms: An issue of national power distance," International Review of Financial Analysis, Elsevier, vol. 81(C).
    155. Wu, Chloe Yu-Hsuan & Hsu, Hwa-Hsien, 2018. "Founders and board structure: Evidence from UK IPO firms," International Review of Financial Analysis, Elsevier, vol. 56(C), pages 19-31.
    156. Fuxiu Jiang & Xiaojia Zheng & Wei Tang, 2018. "Non-family chair and corporate performance," Frontiers of Business Research in China, Springer, vol. 12(1), pages 1-30, December.
    157. Huang, Minjie & Li, Pingshu & Meschke, Felix & Guthrie, James P., 2015. "Family firms, employee satisfaction, and corporate performance," Journal of Corporate Finance, Elsevier, vol. 34(C), pages 108-127.
    158. Sea-Jin Chang & Jungwook Shim, 2015. "When does transitioning from family to professional management improve firm performance?," Strategic Management Journal, Wiley Blackwell, vol. 36(9), pages 1297-1316, September.
    159. Priya Dhamija Gupta & Sonali Bhattacharya, 2016. "Impact of Knowledge Management Processes for Sustainability of Small Family Businesses: Evidences from the Brassware Sector of Moradabad (India)," Journal of Information & Knowledge Management (JIKM), World Scientific Publishing Co. Pte. Ltd., vol. 15(04), pages 1-46, December.
    160. Man Chen & Si Liu & Feng Wang & Rui Guo, 2024. "The dark side effects of CEO general managerial skills on corporate overinvestment," Asia Pacific Journal of Management, Springer, vol. 41(4), pages 2277-2300, December.
    161. Rizwan Ali & Ramiz Ur Rehman & Sana Suleman & Collins Gyakari Ntim, 2022. "CEO attributes, investment decisions, and firm performance: New insights from upper echelons theory," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(2), pages 398-417, March.
    162. Stefano Colonnello & Giuliano Curatola & Shuo Xia, 2022. "Trading Away Incentives," Working Papers 2022:16, Department of Economics, University of Venice "Ca' Foscari".
    163. Al Mamun, Md & Balachandran, Balasingham & Duong, Huu Nhan, 2020. "Powerful CEOs and stock price crash risk," Journal of Corporate Finance, Elsevier, vol. 62(C).
    164. Islam, Emdad & Zein, Jason, 2020. "Inventor CEOs," Journal of Financial Economics, Elsevier, vol. 135(2), pages 505-527.
    165. Devos, Erik & Feng, Zifeng & Thompson, Linh & Wei, Zuobao, 2024. "Founder CEOs and ESG," International Review of Economics & Finance, Elsevier, vol. 94(C).
    166. Yang, Yang & Zou, Mingyang, 2025. "The impact of CEO contract duration on corporate misconduct," Journal of Business Research, Elsevier, vol. 188(C).
    167. Bei Lyu & Hui Chen, 2022. "Effect of Founder Control on Equity Financing and Corporate Performance-Based on Moderation of Radical Strategy," SAGE Open, , vol. 12(2), pages 21582440221, April.
    168. Ruben Durante & Giovanna Labartino & Roberto Perotti, 2011. "Academic Dynasties: Decentralization and familism ind the Italian academia," Sciences Po Economics Publications (main) hal-03609936, HAL.
    169. Sani Saidu, 2019. "CEO characteristics and firm performance: focus on origin, education and ownership," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 9(1), pages 1-15, December.

  25. Dlugos, Jennifer & Fahlenbrach, Rudiger & Gompers, Paul & Metrick, Andrew, 2005. "Large Blocks of Stock: Prevalence, Size, and Measurement," Working Paper Series 2005-9, Ohio State University, Charles A. Dice Center for Research in Financial Economics.

    Cited by:

    1. Fosfuri, A. & Helmers, C. & Roux, C., 2012. "Are joint patents collusive? Evidence from the US and Europe," Discussion Paper 2012-035, Tilburg University, Tilburg Law and Economic Center.
    2. Joern H. Block & Marcus Wagner, 2014. "The Effect of Family Ownership on Different Dimensions of Corporate Social Responsibility: Evidence from Large US Firms," Business Strategy and the Environment, Wiley Blackwell, vol. 23(7), pages 475-492, November.
    3. Im, Hyun Joong & Kang, Ya & Shon, Janghoon, 2020. "How does uncertainty influence target capital structure?," Journal of Corporate Finance, Elsevier, vol. 64(C).
    4. Stráska, Miroslava & Waller, Gregory, 2010. "Do antitakeover provisions harm shareholders?," Journal of Corporate Finance, Elsevier, vol. 16(4), pages 487-497, September.
    5. Bardong, Florian & Bartram, Söhnke M. & Yadav, Pradeep K., 2005. "Informed Trading, Information Asymmetry and Pricing of Information Risk: Empirical Evidence from the NYSE," MPRA Paper 13586, University Library of Munich, Germany, revised 10 Oct 2008.
    6. Tristan Auvray & Olivier Brossard, 2012. "Too Dispersed to Monitor? Ownership Dispersion, Monitoring, and the Prediction of Bank Distress," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(4), pages 685-714, June.
    7. Dror Parnes, 2011. "Developments in corporate creditworthiness around ownership events," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 7(4), pages 377-396, September.
    8. Hoechle, Daniel & Schmid, Markus & Walter, Ingo & Yermack, David, 2012. "How much of the diversification discount can be explained by poor corporate governance?," Journal of Financial Economics, Elsevier, vol. 103(1), pages 41-60.
    9. Cziraki, Peter & Jenter, Dirk, 2021. "The market for CEOs," LSE Research Online Documents on Economics 118872, London School of Economics and Political Science, LSE Library.
    10. Bruno Maria Parigi & Loriana Pelizzon & Ernst-Ludwig von Thadden, 2013. "Stock Market Returns, Corporate Governance and Capital Market Equilibrium," CESifo Working Paper Series 4496, CESifo.
    11. Fang, Vivian W. & Noe, Thomas H. & Tice, Sheri, 2009. "Stock market liquidity and firm value," Journal of Financial Economics, Elsevier, vol. 94(1), pages 150-169, October.
    12. Block, J.H. & Wagner, M., 2010. "Corporate Social Responsibility in Large Family and Founder Firms," ERIM Report Series Research in Management ERS-2010-027-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    13. Lai, Shaojie & Liang, Hongyan & Liu, Zilong & Pu, Xiaoling & Zhang, Jianing, 2022. "Ownership concentration among entrepreneurial firms: The growth-control trade-off," International Review of Economics & Finance, Elsevier, vol. 78(C), pages 122-140.
    14. Loderer, Claudio & Waelchli, Urs, 2010. "Firm age and performance," MPRA Paper 26450, University Library of Munich, Germany.
    15. Zhang, Xinde & Zhou, Simiao, 2018. "Bond covenants and institutional blockholding," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 136-152.
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    20. Konijn, Sander J.J. & Kräussl, Roman & Lucas, Andre, 2011. "Blockholder dispersion and firm value," Journal of Corporate Finance, Elsevier, vol. 17(5), pages 1330-1339.
    21. Alex Edmans & Gustavo Manso, 2011. "Governance Through Trading and Intervention: A Theory of Multiple Blockholders," The Review of Financial Studies, Society for Financial Studies, vol. 24(7), pages 2395-2428.
    22. Thomas Smythe & Chris McNeil & Philip English, 2015. "When does CalPERS’ activism add value?," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 39(4), pages 641-660, October.
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    24. Massimiliano Vatiero, 2016. "On the (Political) Origin of "Corporate Governance" Species," IdEP Economic Papers 1604, USI Università della Svizzera italiana.
    25. Poulsen, Thomas, 2008. "Private benefits in corporate control transactions," Finance Research Group Working Papers F-2008-03, University of Aarhus, Aarhus School of Business, Department of Business Studies.
    26. Martijn Cremers & Vinay Nair & Chenyang Wei, 2004. "Governance Mechanisms and Bond Prices," Yale School of Management Working Papers amz2484, Yale School of Management, revised 01 Nov 2006.
    27. Craig W. Holden & Stacey Jacobsen & Avanidhar Subrahmanyam, 2014. "The Empirical Analysis of Liquidity," Foundations and Trends(R) in Finance, now publishers, vol. 8(4), pages 263-365, December.
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    29. Albuquerque, Rui & Schroth, Enrique, 2012. "The Value of Control and the Costs of Illiquidity," CEPR Discussion Papers 9090, C.E.P.R. Discussion Papers.
    30. Golbe, Devra L. & Nyman, Ingmar, 2013. "How do share repurchases affect ownership concentration?," Journal of Corporate Finance, Elsevier, vol. 20(C), pages 22-40.
    31. Chen, Xiaoying (Cindy) & Yur-Austin, Jasmine, 2007. "Re-measuring agency costs: The effectiveness of blockholders," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(5), pages 588-601, December.
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    33. Khine Kyaw & Steen Thomsen & Sirimon Treepongkaruna, 2022. "Firms' potential for economic sustainability and firm value: The moderating role of blockholders," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(5), pages 884-901, October.
    34. Howard W. H. Chan & Yufei Lu & Hong F. Zhang, 2013. "The effect of financial constraints, investment policy, product market competition and corporate governance on the value of cash holdings," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 53(2), pages 339-366, June.
    35. Henri Servaes & Ane Tamayo, 2014. "How Do Industry Peers Respond to Control Threats?," Management Science, INFORMS, vol. 60(2), pages 380-399, February.
    36. Bo Becker & Victoria Ivashina, 2013. "Reaching for Yield in the Bond Market," NBER Working Papers 18909, National Bureau of Economic Research, Inc.
    37. Marquardt, Blair B. & Sanchez, Juan Manuel, 2022. "Blockholder board representation and debt contracting," Journal of Banking & Finance, Elsevier, vol. 142(C).
    38. D’Mello, Ranjan & Gruskin, Mark, 2021. "To be or not to be all-equity for firms that eliminate long-term debt," Journal of Empirical Finance, Elsevier, vol. 64(C), pages 183-206.
    39. Renneboog, L.D.R. & Szilagyi, P.G., 2009. "Shareholder Activism through the Proxy Process," Discussion Paper 2009-65, Tilburg University, Center for Economic Research.
    40. Eckbo, B. Espen, 2009. "Bidding strategies and takeover premiums: A review," Journal of Corporate Finance, Elsevier, vol. 15(1), pages 149-178, February.
    41. Ravid, S. Abraham & Sekerci, Naciye, 2020. "Large investors’ portfolio composition and firms value," Journal of Corporate Finance, Elsevier, vol. 61(C).
    42. Joern, Block & Peter, Jaskiewicz & Danny, Miller, 2010. "Ownership versus Management Effects on Performance in Family and Founder Companies: A Bayesian Analysis," MPRA Paper 23526, University Library of Munich, Germany.
    43. Brockman, Paul & Yan, Xuemin (Sterling), 2009. "Block ownership and firm-specific information," Journal of Banking & Finance, Elsevier, vol. 33(2), pages 308-316, February.
    44. Liu, Yun, 2014. "Outside options and CEO turnover: The network effect," Journal of Corporate Finance, Elsevier, vol. 28(C), pages 201-217.
    45. Sugata Ray & Missaka Warusawitharana, 2007. "An efficiency perspective on the gains from mergers and asset purchases," Finance and Economics Discussion Series 2007-39, Board of Governors of the Federal Reserve System (U.S.).
    46. Chari, Murali D.R. & David, Parthiban & Duru, Augustine & Zhao, Yijiang, 2019. "Bowman's risk-return paradox: An agency theory perspective," Journal of Business Research, Elsevier, vol. 95(C), pages 357-375.
    47. Block, Joern H. & Jaskiewicz, Peter & Miller, Danny, 2011. "Ownership versus management effects on performance in family and founder companies: A Bayesian reconciliation," Journal of Family Business Strategy, Elsevier, vol. 2(4), pages 232-245.
    48. Yu-En Lin & Hsiang-Hsuan Chih & Chia-Hsien Tang & Tai-Hsun Huang, 2015. "The Impact Of Internal Control On Firm’S Risk And Performance," Annals of Financial Economics (AFE), World Scientific Publishing Co. Pte. Ltd., vol. 10(02), pages 1-18, December.
    49. Basu, Nilanjan & Paeglis, Imants & Toffanin, Melissa, 2017. "Reading between the blocks," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 294-317.
    50. Ferreira, Daniel & Ferreira, Miguel A. & Raposo, Clara C., 2008. "Board Structure and Price Informativeness," CEI Working Paper Series 2008-4, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    51. Kim, Kyonghee, 2010. "Blockholder monitoring and the efficiency of pay-performance benchmarking," Journal of Corporate Finance, Elsevier, vol. 16(5), pages 748-766, December.
    52. Panousi, Vasia & Papanikolaou, Dimitris, 2009. "Investment, idiosyncratic risk, and ownership," MPRA Paper 24239, University Library of Munich, Germany.
    53. Rose, Morgan J., 2009. "Heterogeneous impacts of staggered boards by ownership concentration," Journal of Corporate Finance, Elsevier, vol. 15(1), pages 113-128, February.
    54. Kim, Jeong-Bon & Maharjan, Johan & Zhao, Yijiang, 2025. "Non-blockholder dissatisfaction and firm performance volatility: A groupthink perspective," Journal of Financial Stability, Elsevier, vol. 80(C).
    55. Ngo, Anh & Duong, Hong & Nguyen, Thanh & Nguyen, Liem, 2020. "The effects of ownership structure on dividend policy: Evidence from seasoned equity offerings (SEOs)," Global Finance Journal, Elsevier, vol. 44(C).
    56. Edmans, Alex, 2013. "Blockholders and Corporate Governance," CEPR Discussion Papers 9708, C.E.P.R. Discussion Papers.
    57. C. S. Agnes Cheng & John Daniel Eshleman, 2014. "Does the market overweight imprecise information? Evidence from customer earnings announcements," Review of Accounting Studies, Springer, vol. 19(3), pages 1125-1151, September.
    58. Lucas, Ryley & Gunasekarage, Abeyratna & Shams, Syed & Edirisuriya, Piyadasa, 2021. "Female directors and acquisitions: Australian evidence," Pacific-Basin Finance Journal, Elsevier, vol. 68(C).
    59. Massa, Massimo & Žaldokas, Alminas, 2017. "Information transfers among co-owned firms," Journal of Financial Intermediation, Elsevier, vol. 31(C), pages 77-92.
    60. Bardong, Florian & Bartram, Söhnke M. & Yadav, Pradeep K., 2007. "Are Short-sellers Different?," MPRA Paper 13585, University Library of Munich, Germany, revised 16 Nov 2008.
    61. Patro, Sukesh, 2008. "The evolution of ownership structure of corporate spin-offs," Journal of Corporate Finance, Elsevier, vol. 14(5), pages 596-613, December.
    62. Dittmar, Amy & Mahrt-Smith, Jan, 2007. "Corporate governance and the value of cash holdings," Journal of Financial Economics, Elsevier, vol. 83(3), pages 599-634, March.
    63. Thomas Poulsen, 2013. "Corporate control and underinvestment," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 17(1), pages 131-155, February.
    64. Peter Jaskiewicz & Joern H. Block & James G. Combs & Danny Miller, 2017. "The Effects of Founder and Family Ownership on Hired CEOs’ Incentives and Firm Performance," Entrepreneurship Theory and Practice, , vol. 41(1), pages 73-103, January.
    65. Andy Lardon & Christof Beuselinck & Marc Deloof, 2019. "Does stable ownership create value? Evidence from the global financial crisis," Review of Quantitative Finance and Accounting, Springer, vol. 52(2), pages 573-642, February.
    66. Matteo P. Arena & John S. Howe, 2009. "Takeover Exposure, Agency, And The Choice Between Private And Public Debt," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 32(2), pages 199-230, June.
    67. Lesage, Cédric & Ben Ali, Chiraz, 2011. "ownership concentration and audit fees: do auditors matter most when investors are protected least ?," HEC Research Papers Series 951, HEC Paris.
    68. Markus Schmid, 2009. "Ownership structure and the separation of voting and cash flow rights-evidence from Switzerland," Applied Financial Economics, Taylor & Francis Journals, vol. 19(18), pages 1453-1476.
    69. Bodnaruk, Andriy & Massa, Massimo & Yadav, Vijay, 2017. "Family ownership, country governance, and foreign portfolio investment," Journal of Empirical Finance, Elsevier, vol. 41(C), pages 96-115.
    70. Burns, Natasha & Kedia, Simi & Lipson, Marc, 2010. "Institutional ownership and monitoring: Evidence from financial misreporting," Journal of Corporate Finance, Elsevier, vol. 16(4), pages 443-455, September.
    71. Del Guercio, Diane & Seery, Laura & Woidtke, Tracie, 2008. "Do boards pay attention when institutional investor activists "just vote no"?," Journal of Financial Economics, Elsevier, vol. 90(1), pages 84-103, October.
    72. Raj Chetty & Emmanuel Saez, 2004. "Dividend Taxes and Corporate Behavior: Evidence from the 2003 Dividend Tax Cut," NBER Working Papers 10841, National Bureau of Economic Research, Inc.
    73. Cronqvist, Henrik & Fahlenbrach, Rüdiger, 2007. "Large Shareholders and Corporate Policies," SIFR Research Report Series 60, Institute for Financial Research.
    74. Miller, Danny & Le Breton-Miller, Isabelle & Lester, Richard H. & Cannella Jr., Albert A., 2007. "Are family firms really superior performers?," Journal of Corporate Finance, Elsevier, vol. 13(5), pages 829-858, December.
    75. Francis, Bill & Hasan, Iftekhar & John, Kose & Waisman, Maya, 2012. "Urban agglomeration and CEO compensation," Bank of Finland Research Discussion Papers 17/2012, Bank of Finland.
    76. Chemmanur, Thomas J. & He, Jie & Hu, Gang & Liu, Helen, 2010. "Is dividend smoothing universal?: New insights from a comparative study of dividend policies in Hong Kong and the U.S," Journal of Corporate Finance, Elsevier, vol. 16(4), pages 413-430, September.
    77. Erin Oldford & Isaac Otchere, 2021. "Institutional cross-ownership, heterogeneous incentives, and negative premium mergers," Review of Quantitative Finance and Accounting, Springer, vol. 57(1), pages 321-351, July.
    78. Poulsen, Thomas, 2008. "Investment decisions with benefits of control," Finance Research Group Working Papers F-2008-02, University of Aarhus, Aarhus School of Business, Department of Business Studies.
    79. Harford, Jarrad & Mansi, Sattar A. & Maxwell, William F., 2008. "Corporate governance and firm cash holdings in the US," Journal of Financial Economics, Elsevier, vol. 87(3), pages 535-555, March.
    80. Eugster, Nicolas & Isakov, Dušan, 2019. "Founding family ownership, stock market returns, and agency problems," Journal of Banking & Finance, Elsevier, vol. 107(C), pages 1-1.
    81. Utz Weitzel & Gerhard Kling, 2018. "Sold Below Value? Why Takeover Offers Can Have Negative Premiums," Financial Management, Financial Management Association International, vol. 47(2), pages 421-450, June.
    82. Jared Harris & Philip Bromiley, 2007. "Incentives to Cheat: The Influence of Executive Compensation and Firm Performance on Financial Misrepresentation," Organization Science, INFORMS, vol. 18(3), pages 350-367, June.
    83. Ferreira, Daniel & Ferreira, Miguel A. & Raposo, Clara C., 2011. "Board structure and price informativeness," Journal of Financial Economics, Elsevier, vol. 99(3), pages 523-545, March.
    84. Clayton, Matthew J. & Jorgensen, Bjorn N., 2011. "Corporate equity ownership, investment, and product market relationships," Journal of Corporate Finance, Elsevier, vol. 17(5), pages 1377-1388.
    85. Wruck, Karen H. & Wu, YiLin, 2009. "Relationships, corporate governance, and performance: Evidence from private placements of common stock," Journal of Corporate Finance, Elsevier, vol. 15(1), pages 30-47, February.
    86. Gunasekarage, Abeyratna & Minnick, Kristina & Shams, Syed, 2025. "Board gender diversity at target firms and acquisition decisions of gender diverse bidders," Journal of Financial Stability, Elsevier, vol. 78(C).
    87. Fahlenbrach, Rudiger, 2008. "Shareholder Rights, Boards, and CEO Compensation," Working Paper Series 2008-5, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    88. Verwijmeren, Patrick & Derwall, Jeroen, 2010. "Employee well-being, firm leverage, and bankruptcy risk," Journal of Banking & Finance, Elsevier, vol. 34(5), pages 956-964, May.
    89. Lingna Sun & Hieu V. Phan & Thuy Simpson, 2021. "Blockholder exit threats and corporate cash holdings," The Financial Review, Eastern Finance Association, vol. 56(4), pages 821-843, November.
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    92. Szilagyi, P.G., 2007. "Corporate governance and the agency costs of debt and outside equity," Other publications TiSEM 9520d40a-224f-43a8-9bf9-b, Tilburg University, School of Economics and Management.
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    96. Axel R. Helling & Benjamin Maury & Eva Liljeblom, 2020. "Exit as governance: do blockholders affect corporate innovation in large US firms?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(2), pages 1703-1725, June.
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  26. Fahlenbrach, Rudiger & Sandas, Patrik, 2005. "Co-movements of Index Options and Futures Quotes," Working Paper Series 2006-2, Ohio State University, Charles A. Dice Center for Research in Financial Economics.

    Cited by:

    1. Shailesh Rastogi & Chaitaly Athaley, 2019. "Volatility Integration in Spot, Futures and Options Markets: A Regulatory Perspective," JRFM, MDPI, vol. 12(2), pages 1-15, June.

Articles

  1. Matthias Efing & Rüdiger Fahlenbrach & Christoph Herpfer & Philipp Krueger, 2023. "How Do Investors and Firms React to a Large, Unexpected Currency Appreciation Shock?," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 12(3), pages 488-538.

    Cited by:

    1. Arni, Patrick & Egger, Peter & Erhardt, Katharina & Gubler, Matthias & Sauré, Philip, 2024. "Heterogeneous Impacts of Trade Shocks on Workers," IZA Discussion Papers 16895, IZA Network @ LISER.

  2. Kim, Hyemin & Fahlenbrach, Rüdiger & Low, Angie, 2023. "CEO networks and the labor market for directors," Journal of Empirical Finance, Elsevier, vol. 70(C), pages 1-21.

    Cited by:

    1. Lai, Li & Lan, Chundan & Wu, Shan, 2024. "Are managers with investment bank experience myopic?," Journal of Business Research, Elsevier, vol. 183(C).
    2. Hutschenreiter, Dennis & Liu, Qianshuo, 2025. "From rivals to allies? CEO connections in an era of common ownership," IWH Discussion Papers 7/2025, Halle Institute for Economic Research (IWH).

  3. Fabisik, Kornelia & Fahlenbrach, Rüdiger & Stulz, René M. & Taillard, Jérôme P., 2021. "Why are firms with more managerial ownership worth less?," Journal of Financial Economics, Elsevier, vol. 140(3), pages 699-725.
    See citations under working paper version above.
  4. Rüdiger Fahlenbrach & Kevin Rageth & René M Stulz, 2021. "How Valuable Is Financial Flexibility when Revenue Stops? Evidence from the COVID-19 Crisis [The risk of being a fallen angel and the corporate dash for cash in the midst of COVID]," The Review of Financial Studies, Society for Financial Studies, vol. 34(11), pages 5474-5521.
    See citations under working paper version above.
  5. Rüdiger Fahlenbrach & Robert Prilmeier & René M. Stulz, 2018. "Why Does Fast Loan Growth Predict Poor Performance for Banks?," The Review of Financial Studies, Society for Financial Studies, vol. 31(3), pages 1014-1063.
    See citations under working paper version above.
  6. Rüdiger Fahlenbrach & Angie Low & René M. Stulz, 2017. "Do Independent Director Departures Predict Future Bad Events?," The Review of Financial Studies, Society for Financial Studies, vol. 30(7), pages 2313-2358.

    Cited by:

    1. Adasi Manu, Sylvester & Qi, Yaxuan, 2023. "CEO social connections and bank systemic risk: The “dark side” of social networks," Journal of Banking & Finance, Elsevier, vol. 156(C).
    2. Tanja Artiga González & Markus Schmid & David Yermack, 2019. "Does Price Fixing Benefit Corporate Managers?," Management Science, INFORMS, vol. 65(10), pages 4813-4840, October.
    3. Kanapathippillai, Sutharson & Puwanenthiren, Premkanth & Mihret, Dessalegn & Dang, Man, 2024. "Board sub-committee effectiveness, director attraction and director attrition: Do nomination and remuneration committees matter?," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    4. Robin Chen & Chia‐Wei Huang & Chih‐Yung Lin, 2022. "Board corruption and loan contracts," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(9-10), pages 1929-1956, October.
    5. Murali Jagannathan & Srinivasan Krishnamurthy & Joshua Spizman, 2021. "Board committees and director departures," The Financial Review, Eastern Finance Association, vol. 56(4), pages 619-644, November.
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    7. Florackis, Chris & Fu, Xi & Wang, Jingjing, 2023. "Political connections, environmental violations and punishment: Evidence from heavily polluting firms," International Review of Financial Analysis, Elsevier, vol. 88(C).
    8. Biswas, Shreya & Sarkar, Jayati & Selarka, Ekta, 2025. "Women director interlocks and firm performance: Evidence from India," Pacific-Basin Finance Journal, Elsevier, vol. 90(C).
    9. Sila, Vathunyoo & Gonzalez, Angelica & Hagendorff, Jens, 2017. "Independent director reputation incentives and stock price informativeness," Journal of Corporate Finance, Elsevier, vol. 47(C), pages 219-235.
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    11. Liu, Chih-Liang & Lai, Shu-Miao & Haw, In-Mu, 2024. "Director networks, accounting conservatism and director reputation: Evidence after financial reporting failure," The British Accounting Review, Elsevier, vol. 56(6).
    12. Kim, Hyemin & Fahlenbrach, Rüdiger & Low, Angie, 2023. "CEO networks and the labor market for directors," Journal of Empirical Finance, Elsevier, vol. 70(C), pages 1-21.
    13. Kim, Taeyeon & Kim, Hyun-Dong & Park, Kwangwoo, 2023. "Customer concentration and firm risk: The role of outside directors from a major customer," Journal of Banking & Finance, Elsevier, vol. 152(C).
    14. Wang, Qiong & Wang, Huajie & Wang, Kemin, 2024. "Making outside directors inside: Independent directors’ corporate site visits and real earnings management," The British Accounting Review, Elsevier, vol. 56(6).
    15. Arnaboldi, F. & Casu, B. & Gallo, A. & Kalotychou, E. & Sarkisyan, A., 2021. "Gender diversity and bank misconduct," Journal of Corporate Finance, Elsevier, vol. 71(C).
    16. Lai Van Vo & Huong Thi Thu Le & Youngbin Kim, 2023. "Board interlocks, career prospects and corporate social responsibility," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(4), pages 4565-4595, December.
    17. Bugeja, Martin & Ghannam, Samir & Jeganathan, Davina & Shan, Yaowen, 2024. "Acquisition experience over performance: Directorship prestige following M&As," Journal of Contemporary Accounting and Economics, Elsevier, vol. 20(3).
    18. von Meyerinck, Felix & Romer, Jonas & Schmid, Markus, 2025. "CEO turnover and director reputation," Journal of Financial Economics, Elsevier, vol. 163(C).
    19. Nemmara K. Chidambaran & Yun Liu & Nagpurnanand Prabhala, 2022. "Director diversity and inclusion: At the table but in the game?," Financial Management, Financial Management Association International, vol. 51(1), pages 193-225, March.
    20. Davide Cipullo & Federico Franzoni & Jonas Klarin, 2025. "Fiscal Policy and Politicians’ Term Length," CESifo Working Paper Series 12186, CESifo.
    21. Dou, Ying, 2017. "Leaving before bad times: Does the labor market penalize preemptive director resignations?," Journal of Accounting and Economics, Elsevier, vol. 63(2), pages 161-178.
    22. Masulis, Ronald W. & Zhang, Emma Jincheng, 2019. "How valuable are independent directors? Evidence from external distractions," Journal of Financial Economics, Elsevier, vol. 132(3), pages 226-256.
    23. Ormazabal, Gaizka, 2018. "Are directors more likely to relinquish their riskiest directorships after the Financial Crisis?," Journal of Corporate Finance, Elsevier, vol. 53(C), pages 1-20.
    24. Naaraayanan, S. Lakshmi & Nielsen, Kasper Meisner, 2021. "Does personal liability deter individuals from serving as independent directors?," Journal of Financial Economics, Elsevier, vol. 140(2), pages 621-643.
    25. Chen, Sheng-Syan & Chen, Yan-Shing & Kang, Jun-Koo & Peng, Shu-Cing, 2020. "Board structure, director expertise, and advisory role of outside directors," Journal of Financial Economics, Elsevier, vol. 138(2), pages 483-503.
    26. Gerrit Kok & Cornelis H. van Schalkwyk & Elda Du Toit, 2021. "The association between board characteristics and the risk-adjusted return of South African companies," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 18(1), pages 58-70, March.
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    Cited by:

    1. Derrick W. H. Fung & Jason J. H. Yeh, 2018. "Inherent Virtue or Inevitable Evil: The Effects of Directors' and Officers' Insurance on Firm Value," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 21(2), pages 243-288, September.
    2. Jiao, Menglei & Xia, Xinping & Li, Antai, 2024. "MSCI index inclusion and price efficiency evidence from China," International Review of Financial Analysis, Elsevier, vol. 94(C).
    3. Caleb Rawson & Stephen P. Rowe, 2024. "The power of not trading: Evidence from index fund ownership," Review of Accounting Studies, Springer, vol. 29(1), pages 388-422, March.
    4. He, Xiaoxiao & Liu, Cai, 2023. "Monitoring attention of institutional investors and trade credit financing," Finance Research Letters, Elsevier, vol. 55(PB).
    5. Atanassov, Julian & Mandell, Aaron J., 2018. "Corporate governance and dividend policy: Evidence of tunneling from master limited partnerships," Journal of Corporate Finance, Elsevier, vol. 53(C), pages 106-132.
    6. 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.
    7. Franzoni, Francesco & Moussawi, Rabih & Ben-David, Itzhak, 2019. "An Improved Method to Predict Assignment of Stocks into Russell Indexes," CEPR Discussion Papers 14234, C.E.P.R. Discussion Papers.
    8. 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.
    9. Mina Glambosky & Surendranath Jory & Tapas Mishra & Thanh Ngo, 2025. "Institutional ownership and firm performance by life-cycle stage," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 39(3), pages 365-413, September.
    10. Imad Jabbouri & Rachid Jabbouri, 2021. "Ownership identity and firm performance: Pre‐ and post‐crisis evidence from an African emerging market," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 5963-5976, October.
    11. Chen, Hung-Ling & Shiu, Cheng-Yi & Wei, Hui-Shan, 2019. "Price effect and investor awareness: Evidence from MSCI Standard Index reconstitutions," Journal of Empirical Finance, Elsevier, vol. 50(C), pages 93-112.
    12. Corum, Adrian Aycan & Malenko, Andrey & Malenko, Nadya, 2020. "Corporate Governance in the Presence of Active and Passive Delegated Investment," OSF Preprints 8n6xj, Center for Open Science.
    13. Jiang, George J. & Liu, Chang, 2021. "Getting on board: The monitoring effect of institutional directors," Journal of Corporate Finance, Elsevier, vol. 67(C).
    14. Mohsni, Sana & Otchere, Isaac & Yamada, Kazuo, 2021. "Passive trading and firm performance: A quasi-natural experiment using the TSE-OSE merger in Japan," Pacific-Basin Finance Journal, Elsevier, vol. 70(C).
    15. Thomas J. Chemmanur & Zeyu Sun & Jing Xie, 2024. "Keeping up with the Joneses: Corporate Dividends and Common Institutional Blockholders," Working Papers 202407, University of Macau, Faculty of Business Administration.
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    17. Melissa Newham & Jo Seldeslachts & Albert Banal-Estanol, 2018. "Common Ownership and Market Entry: Evidence from Pharmaceutical Industry," Discussion Papers of DIW Berlin 1738, DIW Berlin, German Institute for Economic Research.
    18. Albert Banal-Estañol & Jo Seldeslachts & Xavier Vives, 2022. "Ownership diversification and product market pricing Incentives," Economics Working Papers 1848, Department of Economics and Business, Universitat Pompeu Fabra.
    19. Huang, Wei & Goodell, John W. & Goyal, Abhinav, 2021. "In times of crisis does ownership matter? Liquidity extraction through dividends during the 2007–2009 financial crisis," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 73(C).
    20. Pekka Honkanen & Daniel Schmidt & Bastian von Beschwitz, 2022. "Passive Ownership and Short Selling," International Finance Discussion Papers 1365, Board of Governors of the Federal Reserve System (U.S.).
    21. Martijn Cremers & Ankur Pareek & Zacharias Sautner, 2020. "Short-Term Investors, Long-Term Investments, and Firm Value: Evidence from Russell 2000 Index Inclusions," Management Science, INFORMS, vol. 66(10), pages 4535-4551, October.
    22. Frye, Melissa B. & Pham, Duong T., 2018. "CEO gender and corporate board structures," The Quarterly Review of Economics and Finance, Elsevier, vol. 69(C), pages 110-124.
    23. Alexandra Horobet & Lucian Belascu & Ștefania Cristina Curea & Alma Pentescu, 2019. "Ownership Concentration and Performance Recovery Patterns in the European Union," Sustainability, MDPI, vol. 11(4), pages 1-31, February.
    24. Lin, Tse-Chun & Liu, Jinyu & Ni, Xiaoran, 2022. "Foreign bank entry deregulation and stock market stability: Evidence from staggered regulatory changes," Journal of Empirical Finance, Elsevier, vol. 69(C), pages 185-207.
    25. Gormley, Todd A. & Gupta, Vishal K. & Matsa, David A. & Mortal, Sandra C. & Yang, Lukai, 2023. "The Big Three and board gender diversity: The effectiveness of shareholder voice," Journal of Financial Economics, Elsevier, vol. 149(2), pages 323-348.
    26. Lin, Huiting & Wang, Maolin & Ding, Ning, 2024. "The role of institutional investor cliques in managers' earnings forecasts," International Review of Financial Analysis, Elsevier, vol. 91(C).
    27. Cline, Brandon N. & Fu, Xudong & Tang, Tian, 2020. "Shareholder investment horizons and bank debt financing," Journal of Banking & Finance, Elsevier, vol. 110(C).
    28. Wilson, Mark & Wang, Kun Tracy & Wu, Yue & Lau, Archie, 2022. "Institutional investors and earnings management associated with controlling shareholders' promises: Evidence from the split share structure reform in China," Journal of Contemporary Accounting and Economics, Elsevier, vol. 18(3).
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    30. Baghdadi, Ghasan A. & Bhatti, Ishaq M. & Nguyen, Lily H.G. & Podolski, Edward J., 2018. "Skill or effort? Institutional ownership and managerial efficiency," Journal of Banking & Finance, Elsevier, vol. 91(C), pages 19-33.
    31. Heli Wang & Ming Jia & Zhe Zhang, 2021. "Good Deeds Done in Silence: Stakeholder Management and Quiet Giving by Chinese Firms," Organization Science, INFORMS, vol. 32(3), pages 649-674, May.
    32. Bagh, Tanveer & Hunjra, Ahmed Imran & Ntim, Collins G. & Naseer, Mirza Muhammad, 2025. "Capitalizing on risk: How corporate financial flexibility, investment efficiency, and institutional ownership shape risk-taking dynamics," International Review of Economics & Finance, Elsevier, vol. 99(C).
    33. Fu, Xudong & Kong, Lei & Tang, Tian & Yan, Xinyan, 2020. "Insider trading and shareholder investment horizons," Journal of Corporate Finance, Elsevier, vol. 62(C).
    34. Cai, Wenwu & Lu, Jing & Zhao, Yuyang, 2023. "Do corporate site visits impact idiosyncratic volatility? Evidence from China," Research in International Business and Finance, Elsevier, vol. 66(C).
    35. Gao, Kaijuan & Shen, Hanxiao & Gao, Xi & Chan, Kam C., 2019. "The power of sharing: Evidence from institutional investor cross-ownership and corporate innovation," International Review of Economics & Finance, Elsevier, vol. 63(C), pages 284-296.
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    39. Lukai Yang, 2023. "Firms’ socially responsible activities: the role of the Big Three," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 47(4), pages 859-883, December.
    40. 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.
    41. Chen, Fu Chen & Indiran, Logaiswari Indiran & Abdul Kohar, Umar Haiyat Abdul Kohar, 2023. "Disruptive Innovation (DI) and Chief Executive Officer(CEO): A synthetic literature review," MPRA Paper 119321, University Library of Munich, Germany, revised 26 Oct 2023.
    42. Zhihao Wang & Kezhi Liao & Sisi Wang, 2024. "Institutional investor horizons, ownership structure and investment efficiency in China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(1), pages 739-782, March.
    43. Fu, Xudong & Tang, Tian & Yan, Xinyan, 2019. "Why do institutions like corporate social responsibility investments? evidence from horizon heterogeneity," Journal of Empirical Finance, Elsevier, vol. 51(C), pages 44-63.
    44. Sai, Masumi & Yamada, Kazuo, 2025. "Does passive ownership affect corporate governance? Evidence from the Bank of Japan’s ETF purchasing program," Research in International Business and Finance, Elsevier, vol. 77(PB).
    45. Cheung, William Ming Yan & Im, Hyun Joong & Selvam, Srinivasan, 2023. "Stock liquidity and investment efficiency: Evidence from the split-share structure reform in China," Emerging Markets Review, Elsevier, vol. 56(C).
    46. Fu, Lili & Pan, Liyuan & Wu, Fengyun, 2021. "Does passive investment have a positive governance effect? Evidence from index funds ownership and corporate innovation," International Review of Economics & Finance, Elsevier, vol. 75(C), pages 524-545.
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    53. José Azar & Xavier Vives, 2021. "General Equilibrium Oligopoly and Ownership Structure," Econometrica, Econometric Society, vol. 89(3), pages 999-1048, May.
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    97. 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.
    98. Ward, Charles & Yin, Chao & Zeng, Yeqin, 2018. "Institutional investor monitoring motivation and the marginal value of cash," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 49-75.
    99. Wang, Xiaoqiong & Wei, Siqi, 2021. "Does the investment horizon of institutional investors matter for stock liquidity?," International Review of Financial Analysis, Elsevier, vol. 74(C).
    100. Wang, Yueyang, 2025. "The silent cost of biodiversity loss: Unveiling its impact on institutional ownership," International Review of Financial Analysis, Elsevier, vol. 103(C).
    101. Agnes Cheng, C.S. & Xie, Jing & Zhong, Yuxiang, 2023. "Common institutional blockholders and tail risk," Journal of Banking & Finance, Elsevier, vol. 148(C).
    102. Dannhauser, Caitlin D. & Spilker, Harold D., 2023. "The Modern Mutual Fund Family," Journal of Financial Economics, Elsevier, vol. 148(1), pages 1-20.
    103. Zhang, Rachel Xi, 2023. "Do Managers learn from institutional investors through direct interactions?," Journal of Accounting and Economics, Elsevier, vol. 75(2).
    104. Brown, Stephen & Dutordoir, Marie & Veld, Chris & Veld-Merkoulova, Yulia, 2019. "What is the role of institutional investors in corporate capital structure decisions? A survey analysis," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 270-286.
    105. Wang, Xi & Xie, Huobao & Li, Jingyuan & Liu, Xiaolong, 2025. "The effect of ESG performance on value creation of strategic alliances," Research in International Business and Finance, Elsevier, vol. 79(C).
    106. In Ji Jang & Namho Kang, 2024. "ETF and corporate reporting," The Financial Review, Eastern Finance Association, vol. 59(2), pages 293-323, May.
    107. Mu-Shun Wang, 2022. "Shareholder Disputes and Commonality in Liquidity: Evidence from the Equity Markets in China," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 29(2), pages 291-325, June.
    108. Qiang Li & Wenjuan Ruan & Ruotong Li & Hanqiao Li, 2023. "Do institutional investors’ holdings affect corporate environmental information disclosure? Evidence from China," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(12), pages 14733-14751, December.
    109. Mohamad Helmi bin Hidthiir & Muhammad Farhan Basheer & Saira Ghulam Hassan, 2019. "The Simultaneity of Corporate Financial Decisions Under Different Levels of Managerial Ownership: A Case of Pakistani Listed Firms," Research in World Economy, Research in World Economy, Sciedu Press, vol. 10(2), pages 147-159, July.
    110. Jun Wang & Qijian Wang, 2021. "Influence or Preference? A New Look at Institutional Ownership and Earnings Management," Businesses, MDPI, vol. 1(3), pages 1-17, October.
    111. Farizo, Joseph D., 2022. "(Black)Rock the vote: Index funds and opposition to management," Journal of Corporate Finance, Elsevier, vol. 76(C).

  8. Nicole M. Boyson & Rüdiger Fahlenbrach & René M. Stulz, 2016. "Why Don't All Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust-Preferred Securities," The Review of Financial Studies, Society for Financial Studies, vol. 29(7), pages 1821-1859.
    See citations under working paper version above.
  9. Cronqvist, Henrik & Fahlenbrach, Rüdiger, 2013. "CEO contract design: How do strong principals do it?," Journal of Financial Economics, Elsevier, vol. 108(3), pages 659-674.
    See citations under working paper version above.
  10. Richard B. Evans & Rüdiger Fahlenbrach, 2012. "Institutional Investors and Mutual Fund Governance: Evidence from Retail--Institutional Fund Twins," The Review of Financial Studies, Society for Financial Studies, vol. 25(12), pages 3530-3571.
    See citations under working paper version above.
  11. Rüdiger Fahlenbrach & Robert Prilmeier & René M. Stulz, 2012. "This Time Is the Same: Using Bank Performance in 1998 to Explain Bank Performance during the Recent Financial Crisis," Journal of Finance, American Finance Association, vol. 67(6), pages 2139-2185, December.
    See citations under working paper version above.
  12. Rüdiger Fahlenbrach & Bernadette A. Minton & Carrie H. Pan, 2011. "Former CEO Directors: Lingering CEOs or Valuable Resources?," The Review of Financial Studies, Society for Financial Studies, vol. 24(10), pages 3486-3518.
    See citations under working paper version above.
  13. Fahlenbrach, Rüdiger & Stulz, René M., 2011. "Bank CEO incentives and the credit crisis," Journal of Financial Economics, Elsevier, vol. 99(1), pages 11-26, January.
    See citations under working paper version above.
  14. Becker, Bo & Cronqvist, Henrik & Fahlenbrach, Rüdiger, 2011. "Estimating the Effects of Large Shareholders Using a Geographic Instrument," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 46(4), pages 907-942, August.
    See citations under working paper version above.
  15. Fahlenbrach, Rüdiger & Low, Angie & Stulz, René M., 2010. "Why do firms appoint CEOs as outside directors?," Journal of Financial Economics, Elsevier, vol. 97(1), pages 12-32, July.
    See citations under working paper version above.
  16. Fahlenbrach, Rüdiger & Sandås, Patrik, 2010. "Does information drive trading in option strategies?," Journal of Banking & Finance, Elsevier, vol. 34(10), pages 2370-2385, October.

    Cited by:

    1. D. Matsypura & V.G. Timkovsky, 2013. "Integer programs for margining option portfolios by option spreads with more than four legs," Computational Management Science, Springer, vol. 10(1), pages 51-76, February.
    2. Doojin Ryu & Jinyoung Yu, 2021. "Informed options trading around holidays," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 41(5), pages 658-685, May.
    3. Doojin Ryu & Doowon Ryu & Heejin Yang, 2021. "The impact of net buying pressure on index options prices," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 41(1), pages 27-45, January.
    4. Ai Jun Hou & Lars L. Nordén, 2018. "VIX futures calendar spreads," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 38(7), pages 822-838, July.
    5. Lo, Chien-Ling & Liu, Wen-Rang, 2025. "Low risk, high return: Improving option writing performance with put-call ratios in Taiwan," Pacific-Basin Finance Journal, Elsevier, vol. 90(C).
    6. Stivers, Chris & Sun, Licheng, 2013. "Returns and option activity over the option-expiration week for S&P 100 stocks," Journal of Banking & Finance, Elsevier, vol. 37(11), pages 4226-4240.
    7. Yang, Heejin & Kutan, Ali M. & Ryu, Doojin, 2019. "Volatility information trading in the index options market: An intraday analysis," International Review of Economics & Finance, Elsevier, vol. 64(C), pages 412-426.
    8. Mugwagwa, Tafadzwa & Ramiah, Vikash & Naughton, Tony & Moosa, Imad, 2012. "The efficiency of the buy-write strategy: Evidence from Australia," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 22(2), pages 305-328.
    9. Chen, Sipeng & Li, Gang, 2023. "Why does option-implied volatility forecast realized volatility? Evidence from news events," Journal of Banking & Finance, Elsevier, vol. 156(C).
    10. Hoque, Ariful & Le, Thi & Hasan, Morshadul & Abedin, Mohammad Zoynul, 2024. "Does market efficiency matter for Shanghai 50 ETF index options?," Research in International Business and Finance, Elsevier, vol. 67(PB).
    11. Ryan McKeon, 2016. "Option spread trades: Returns on directional and volatility trades," Journal of Asset Management, Palgrave Macmillan, vol. 17(6), pages 422-433, October.
    12. Ha, Mijin & Kim, Donghyun & Yoon, Ji-Hun & Choi, Sun-Yong, 2025. "Pricing for perpetual American strangle options under stochastic volatility with fast mean reversion," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 227(C), pages 41-57.
    13. Liu, Dehong & Liang, Yucong & Zhang, Lili & Lung, Peter & Ullah, Rizwan, 2021. "Implied volatility forecast and option trading strategy," International Review of Economics & Finance, Elsevier, vol. 71(C), pages 943-954.
    14. Soniya Mohil & Reena Nayyar & Archana Patro, 2020. "When is informed trading more prevalent?—An examination of options trading around Indian M&A announcements," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 40(6), pages 1011-1029, June.
    15. Choy, Siu Kai & Wei, Jason, 2012. "Option trading: Information or differences of opinion?," Journal of Banking & Finance, Elsevier, vol. 36(8), pages 2299-2322.
    16. Kaeck, Andreas & van Kervel, Vincent & Seeger, Norman J., 2022. "Price impact versus bid–ask spreads in the index option market," Journal of Financial Markets, Elsevier, vol. 59(PA).
    17. Ryu, Doojin & Yang, Heejin, 2019. "Who has volatility information in the index options market?," Finance Research Letters, Elsevier, vol. 30(C), pages 266-270.

  17. Fahlenbrach, Rüdiger & Sandås, Patrik, 2009. "Co-movements of index options and futures quotes," Journal of Empirical Finance, Elsevier, vol. 16(1), pages 151-163, January.
    See citations under working paper version above.
  18. Fahlenbrach, Rüdiger & Stulz, René M., 2009. "Managerial ownership dynamics and firm value," Journal of Financial Economics, Elsevier, vol. 92(3), pages 342-361, June.
    See citations under working paper version above.
  19. Fahlenbrach, Rüdiger, 2009. "Founder-CEOs, Investment Decisions, and Stock Market Performance," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 44(2), pages 439-466, April.
    See citations under working paper version above.
  20. Rüdiger Fahlenbrach, 2009. "Shareholder Rights, Boards, and CEO Compensation," Review of Finance, European Finance Association, vol. 13(1), pages 81-113.
    See citations under working paper version above.
  21. Henrik Cronqvist & Rüdiger Fahlenbrach, 2009. "Large Shareholders and Corporate Policies," The Review of Financial Studies, Society for Financial Studies, vol. 22(10), pages 3941-3976, October.
    See citations under working paper version above.
  22. Dlugosz, Jennifer & Fahlenbrach, Rudiger & Gompers, Paul & Metrick, Andrew, 2006. "Large blocks of stock: Prevalence, size, and measurement," Journal of Corporate Finance, Elsevier, vol. 12(3), pages 594-618, June.
    See citations under working paper version above.
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