Business Commons^™

Three Essays On Banking And Other Financial Institutions, Xiaonan Ma

Theses and Dissertations

This paper shows that access to payday lending affects societal health outcomes such as opioid-related mortality. I find that states allowing payday lending experience 1.5 lives lost per 100,000 population every year, which amounts to one-third of its mean value. I interpret this result in line with the increased consumption of opioid pills after accessing to payday lending. Accordingly, the effects are more pronounced in areas with low socioeconomic status. Confounding events, time trends, or systematic differences between states allowing and prohibiting payday lending are unlikely to explain the association between payday lending access and opioid mortality. Overall, my findings …

Three Essays On Banking, Xinming Li

Theses and Dissertations

My dissertation includes three essays related to banking. In the first essay, I identify an important channel through which stronger legal enforcement boosts the real economy – by increasing bank liquidity creation. Results suggest that effective enforceability of contracts increases total, asset-side, liability-side, and off-balance sheet- side liquidity creation, implying favorable causal real economic effects.

In the second essay, we conduct the first broad-based international study on bank- level failures covering 92 countries over 2000-2014 and investigate national culture values as bank failure determinants. We find individualism and masculinity are positively associated with bank failure but operate through different channels. …

Three Essays In Banking: Corporate Governance, Internationalization, And Government Bailouts, Raluca A. Roman

Theses and Dissertations

This dissertation extends a growing literature on banking and finance by investigating bank corporate governance, internationalization, and bailouts. The first essay conducts the first assessment of shareholder activism in banking and its effects on risk and performance. Activism can create value and be an effective monitoring mechanism for banks, but it may also be a destabilizing mechanism, as maximizing shareholder value may cause financial instability. We focus on the conflicts among bank shareholders, managers, and creditors (e.g., regulators, deposit insurers, taxpayers, depositors). We find activism may generally be a destabilizing force, increasing bank risk-taking, but creating market value for shareholders, …