Working Paper
Marketplace Lending, Information Aggregation and Liquidity
We address a puzzle whereby lending marketplaces, aimed at directly connecting retail lenders and borrowers, retreat from auctions and take on the role...
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When trust is not enough : Bank resolution, SPE, Ring-fencing and group support
This discussion paper investigates the differences existing between the Single Point of Entry and the Multiple Point of Entry resolution models and...
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Single Supervision and the Governance of Banking Markets
In this paper, I try to assess the likely impact of the Single Supervisory Mechanism (SSM) on Eurozone banking markets. I start by analysing the...
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The Sarbanes-Oxley Act and the Making of Quack Corporate Governance
This paper provides an evaluation of the substantive corporate governance mandates of the Sarbanes-Oxley Act of 2002 that is informed by the relevant...
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Decision-Making during the Crisis: Why did the Treasury let Commercial Banks fail?
Limited attention has been paid to the comparative fate of banks benefiting from TARP Capital Purchase Program (CPP) funding and less fortunate banks...
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The Law and Economics of Shadow Banking
This essay discusses the economic case for regulating shadow banking. Focusing on systemic risk, shadow banking is defined as leveraging on collateral...
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Network-Sensitive Financial Regulation
Shocks that hit part of the financial system, such as the subprime mortgage market in 2007, can propagate through a complex network of interconnections...
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Nepotism in IPOs: consequences for issuers and investors
IPO underwriters have an incentive to underprice IPOs when they allocate IPO shares to their affiliated funds. Using a novel hand-collected dataset, we...
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Higher Purpose, the Greater Good and Finance
Organizational higher purpose is gaining increasing traction in both research and policy discussions about the (desired) role of corporations in...
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