Journal: The Journal of Finance

Found 93 papers in total
Bank Leverage and Monetary Policy's Risk-Taking Channel: Evidence from the United States
Bank Leverage and Monetary Policy's Risk-Taking Channel: Evidence from the United States
2017,
We present evidence of a risk‐taking channel of monetary policy for the U.S....
Reverse Mortgage Loans: A Quantitative Analysis
Reverse Mortgage Loans: A Quantitative Analysis
2017,
Reverse mortgage loans (RMLs) allow older homeowners to borrow against housing wealth...
Asset Market Participation and Portfolio Choice over the Life-Cycle
Asset Market Participation and Portfolio Choice over the Life-Cycle
2017,
Using error‐free data on life‐cycle portfolio allocations of a large...
Before an Analyst Becomes an Analyst: Does Industry Experience Matter?
Before an Analyst Becomes an Analyst: Does Industry Experience Matter?
2017,
Using hand‐collected biographical information on financial analysts from 1983...
Linear-Rational Term Structure Models
Linear-Rational Term Structure Models
2017,
We introduce the class of linear‐rational term structure models in which the...
Attracting Early-Stage Investors: Evidence from a Randomized Field Experiment
Attracting Early-Stage Investors: Evidence from a Randomized Field Experiment
2017,
This paper uses a randomized field experiment to identify which start‐up...
Precautionary Savings with Risky Assets: When Cash Is Not Cash
Precautionary Savings with Risky Assets: When Cash Is Not Cash
2017,
U.S. industrial firms invest heavily in noncash, risky financial assets such as...
Politically Connected Private Equity and Employment
Politically Connected Private Equity and Employment
2017,
We investigate the employment consequences of private equity buyouts. We find evidence...
On the Foundations of Corporate Social Responsibility
On the Foundations of Corporate Social Responsibility
2017,
Using corporate social responsibility (CSR) ratings for 23,000 companies from 114...
Mortgage Debt Overhang: Reduced Investment by Homeowners at Risk of Default
Mortgage Debt Overhang: Reduced Investment by Homeowners at Risk of Default
2017,
Homeowners at risk of default face a debt overhang that reduces their incentive to...
Local Risk, Local Factors, and Asset Prices
Local Risk, Local Factors, and Asset Prices
2017,
Firm location affects firm risk through local factor prices. We find more procyclical...
Resident Networks and Corporate Connections: Evidence from World War II Internment Camps
Resident Networks and Corporate Connections: Evidence from World War II Internment Camps
2017,
Using customs and port authority data, we show that firms are significantly more...
Formative Experiences and Portfolio Choice: Evidence from the Finnish Great Depression
Formative Experiences and Portfolio Choice: Evidence from the Finnish Great Depression
2017,
We trace the impact of formative experiences on portfolio choice. Plausibly exogenous...
Who Are the Value and Growth Investors?
Who Are the Value and Growth Investors?
2017,
This paper investigates value and growth investing in a large administrative panel of...
What Doesn't Kill You Will Only Make You More Risk-Loving: Early-Life Disasters and CEO Behavior
What Doesn't Kill You Will Only Make You More Risk-Loving: Early-Life Disasters and CEO Behavior
2017,
The literature on managerial style posits a linear relation between a chief executive...
Ex-Dividend Profitability and Institutional Trading Skill
Ex-Dividend Profitability and Institutional Trading Skill
2017,
We use institutional trading data to examine whether skilled institutions exploit...
Asset Pricing with Countercyclical Household Consumption Risk
Asset Pricing with Countercyclical Household Consumption Risk
2017,
We show that shocks to household consumption growth are negatively skewed, persistent,...
Buyout Activity: The Impact of Aggregate Discount Rates
Buyout Activity: The Impact of Aggregate Discount Rates
2017,
Buyout booms form in response to declines in the aggregate risk premium. We document...
Housing Collateral and Entrepreneurship
Housing Collateral and Entrepreneurship
2017,
We show that collateral constraints restrict firm entry and postentry growth, using...
Financial Contracting and Organizational Form: Evidence from the Regulation of Trade Credit
Financial Contracting and Organizational Form: Evidence from the Regulation of Trade Credit
2017,
We present evidence that restrictions to the set of feasible financial contracts...
The Real Effects of Credit Ratings: The Sovereign Ceiling Channel
The Real Effects of Credit Ratings: The Sovereign Ceiling Channel
2017,
We show that sovereign debt impairments can have a significant effect on financial...
Asset Pricing without Garbage
Asset Pricing without Garbage
2017,
This paper provides an explanation for why garbage implies a much lower relative risk...
Biased Beliefs, Asset Prices, and Investment: A Structural Approach
Biased Beliefs, Asset Prices, and Investment: A Structural Approach
2014,
We structurally estimate a model in which agents’ information processing biases...
When Uncertainty Blows in the Orchard: Comovement and Equilibrium Volatility Risk Premia
When Uncertainty Blows in the Orchard: Comovement and Equilibrium Volatility Risk Premia
2014,
We provide novel evidence for an equilibrium link between investors' disagreement, the...
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