Christine Parlour , Uday Rajan Dec 28,2016
We provide a novel interpretation of the role of credit ratings when contracts between investors and portfolio managers are incomplete.... Read More
Anton Tsoy Dec 28,2016
This paper studies frequent-offer limits of perfect Bayesian equilibria in the alternating-offer bilateral bargaining model with private correlated values. The... Read More
Jonathan Cohn , Günter Strobl Uday Rajan Dec 28,2016
We study a model in which an issuer can manipulate information obtained by a credit rating agency (CRA) seeking to... Read More
Hongda Zhong Dec 30,2016
Firms often choose to raise capital from multiple creditors even though doing so may lead to inefficient liquidation caused by... Read More
Brett Green , William Fuchs Vladimir Asriyan Jul 06,2018
We study information spillovers in a dynamic setting with corre- lated assets owned by privately-informed sellers. In the model,... Read More
Ivan Marinovic , Paul Povel Jul 08,201823
We study the effects of introducing competition for CEOs, assuming that the talent of CEOs is not observable and... Read More
Published: Journal of Accounting and Economics, 2017, 64(1), 1-14