Bilge Yilmaz,Bilge Yilmaz, Yaron Leitner Nov 21,201710
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, (), -Itay Goldstein , Liyan Yang Jul 06,2018
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
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
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
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
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
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
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
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
In many cases, buyers are not fully informed about their valuations and rely on the advice of biased experts. For... Read More