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Review of Corporate Finance Studies

Subject Areas: Business and International Management
Publisher: Oxford University Press - Oxford University Press
ISSN: 2046-9128
SJR: 20

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Journal Article

Clawback Provisions and Firm Risk

Babenko, Ilona; Bennett, Benjamin; Bizjak, John M; Coles, Jeffrey L; Sandvik, Jason J

2023 Review of Corporate Finance Studies

doi:10.1093/rcfs/cfad003

Many of the events that trigger clawback provisions are associated with risky corporate policies and variable performance outcomes. We propose and test the hypothesis that clawback provisions motivate managers to reduce firm risk. Panel ordinary least squares, general method of moments with...
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Journal Article

Deposit Insurance Premiums and Bank Risk

Kim, Edward T; Rezende, Marcelo

2023 Review of Corporate Finance Studies

doi:10.1093/rcfs/cfad004

Deposit insurance premiums impose costs on banks’ balance sheets, narrowing profit margins and inducing banks to “search for yield.” This paper estimates the effects of deposit insurance premiums on bank portfolio rebalancing using supervisory data and a kink in the insurance premium schedule. We...
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Journal Article

Competing for Deal Flow in Local Mortgage Markets

Aiello, Darren J; Garmaise, Mark J; Natividad, Gabriel

2023 Review of Corporate Finance Studies

doi:10.1093/rcfs/cfad001

The U.S. mortgage market exhibits competitive instability in which some lenders rapidly emerge from the fringe to substantial market shares. Using inferred discontinuities in application acceptance models to generate local lending shocks, we analyze the impact on a lender of a surge in...
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Journal Article

Can Central Banks Boost Corporate Investment? Evidence from ECB Liquidity Injections

von Rüden, Stine Louise; Subrahmanyam, Marti G; Tang, Dragon Yongjun; Wang, Sarah Qian

2023 Review of Corporate Finance Studies

doi:10.1093/rcfs/cfad006

Liquidity injections by central banks have become frequent and massive, but their real effects on corporate investment remain unclear. We examine the longer-term refinancing operations (LTROs) of the European Central Bank (ECB) during the eurozone sovereign crisis and show that greater LTRO...

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