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Two Essays On Corporate Finance, Md Noman Hossain
Two Essays On Corporate Finance, Md Noman Hossain
Theses and Dissertations
This dissertation consists of two essays on corporate finance. In my first essay, we investigate whether and, if so, how the information disclosure preferences differ systematically between Republican CEOs and Democrat CEOs in the context of management earnings forecasts. We find that Republican CEOs tend to prefer a less asymmetric information environment than Democrat CEOs, and thus make more frequent, timelier, and more accurate disclosures than Democrat CEOs. Results using the propensity score-matched sample and the difference-in-differences analysis show that our results are unlikely to be driven by potential endogeneity. Our results are robust to controlling for various CEO characteristics, …
Bank Liquidity Creation And Systemic Risk, Destan Kirimhan
Bank Liquidity Creation And Systemic Risk, Destan Kirimhan
Theses and Dissertations
My dissertation includes three essays on bank liquidity creation and systemic risk. In the first essay, we examine the role of distracted institutional investors in banks in one of the most comprehensive measures of bank output, bank liquidity creation. We employ institutional investor distraction measure developed by Kempf et al. (2017). With a sample of publicly listed U.S. banks over the period of 1986-2016, we find that as institutional investors become more distracted, banks create more liquidity on the asset-side and off-balance sheet side. These results are stronger for large banks relative to small banks and are more pronounced during …