Bilge Yilmaz,Bilge Yilmaz, Yaron Leitner Nov 21,2017
Working Paper No.00016-00
We study a situation in which a regulator relies on risk models that banks produce in order to regulate them.... Read More
Published: Journal of Financial Economics, 2019, 131(2), 251-268Itay Goldstein , Liyan Yang Jul 06,2018
Working Paper No.00035-00
We study how commodity financialization affects information transmission and aggre- gation in a commodity futures market. The trading of... Read More
Francesco Bova, Liyan Yang Jul 06,2018
Working Paper No.00036-00
We develop a model to illustrate that equity-based compensation for non-executive employees and product market decisions are related. When... Read More
Benjamin Lester,Ali Shourideh,Venky Venkateswaran, Ariel Zetlin-Jones Jul 06,2018
Working Paper No.00038-00
We incorporate a search-theoretic model of imperfect competition into an otherwise standard model of asymmetric information with unrestricted contracts.... Read More
Songzi Du, Haoxiang Zhu Jul 06,2018
Working Paper No.00039-00
This paper studies the impact of increasing trading frequency in financial markets on allocative efficiency. We build and solve... Read More
Darrell Duffie , Haoxiang Zhu Jul 06,2018
Working Paper No.00040-00
Size-discovery mechanisms allow large quantities of an asset to be exchanged at a price that does not respond to... Read More
Nadya Malenko , Andrey Malenko Dec 13,2016
Working Paper No.00005-00
Proxy advisors play an important role by providing investors with research and recommendations on how to vote their shares. This... Read More
Anton Tsoy , Andrey Malenko Dec 13,2016
Working Paper No.00004-00
In many cases, buyers are not fully informed about their valuations and rely on the advice of biased experts. For... Read More
Günter Strobl , Simon Gervais Dec 13,2016
Working Paper No.00001-00
We construct and analyze the equilibrium of a model of delegated portfolio management in which money managers signal their investment... Read More
Andrey Malenko , Anton Tsoy Dec 14,2016
Working Paper No.00006-00
In many cases, buyers are not fully informed about their valuations and rely on the advice of biased experts. For... Read More