Author name: Patricia Ponce

Managerial Short-Termism and Investment: Evidence from Accelerated Option Vesting
Tomislav Ladika, Zacharias Sautner
Review of Finance, Volume 24, Issue 2, March 2020, Pages 305–344, https://doi.org/10.1093/rof/rfz012

Do managers sometimes boost short-term performance at the expense of long-run value? Financial analysts and policymakers frequently express concern about managerial short-termism.… Read more...

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Follow the Leader: Using the Stock Market to Uncover Information Flows between Firms
Anna Scherbina, Bernd Schlusche
Review of Finance, Volume 24, Issue 1, February 2020, Pages 189–225, https://doi.org/10.1093/rof/rfy038

News developments experienced by one firm, such as labor force scandals, intellectual property disputes, or geopolitical challenges encountered in other countries, can also impact other firms in similar circumstances.… Read more...

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The Failure of a Clearinghouse: Empirical Evidence
Vincent Bignon, Guillaume Vuillemey
Review of Finance, Volume 24, Issue 1, February 2020, Pages 99–128, https://doi.org/10.1093/rof/rfy039

Central clearing counterparties (CCPs) are critical institutions in post-crisis financial markets. The role of CCPs is to guarantee derivatives transactions against the failure of counterparties : they are thus supposed to reduce systemic risk and the potential for contagious failures of financial institutions.… Read more...

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Some Borrowers Are More Equal than Others: Bank Funding Shocks and Credit Reallocation
Olivier De Jonghe, Hans Dewachter, Klaas Mulier, Steven Ongena, Glenn Schepens
Review of Finance, Volume 24, Issue 1, February 2020, Pages 1–43, https://doi.org/10.1093/rof/rfy040

This paper studies the strategic lending decisions made by banks after the freeze of the interbank funding market in September 2008.… Read more...

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Stock Market Literacy, Trust, and Participation
Adnan Balloch, Anamaria Nicolae, Dennis Philip
Review of Finance, Volume 19, Issue 5, August 2015, Pages 1925–1963, https://doi.org/10.1093/rof/rfu040

Why do households not hold stocks? A growing literature advocates that factors such as stock market return experience, lack of trust, educational attainment, financial sophistication and cognitive ability, explain the stock market non-participation puzzle.… Read more...

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