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Full-Text Articles in Finance and Financial Management
Essays On Moral Hazard, Bank Size, Influence, And Risk At The Federal Home Loan Banks, James Cash Acrey
Essays On Moral Hazard, Bank Size, Influence, And Risk At The Federal Home Loan Banks, James Cash Acrey
Graduate Theses and Dissertations
Two chapters of research on the Federal Home Loan Bank advances, bank risk, and influence are presented. Federal Home Loan Bank (FHLB) advances are a growing source of debt financing for US banks. FHLB advances are not priced according to bank credit risk, creating potential for moral hazard. FHLB advances are positively related to contemporary bank risk, but the relation between prior advances and subsequent risk varies between large vs. small banks depending upon the risk measure used. The relation between FHLB advances and various measures of bank risk varies between pre-crisis (2005-07), crisis (2008-09), and post-crisis (2010-12) periods differently …
Incentives And Firm Behaviors, Thu Hien Thi Nguyen
Incentives And Firm Behaviors, Thu Hien Thi Nguyen
Graduate Theses and Dissertations
My research interests focus on the economic behavior, choices, and actions of organizations as well as individuals given their incentives, and analyze the consequences of such decisions to the financial health of firms and the macro economy. A firm is incentivized by the value investors place on its operations; while employees, particularly the management team, is incentivized by the private benefits the firm gives them. Understanding the impact of such incentives will help alleviate the classic agency costs in modern organizations.
Stock illiquidity raises the cost of share ownership to outside investors. The sizable adverse price impact of trading increases …