Working Paper

25 March 2021

The Carrot and the Stick: Bank Bailouts and the Disciplining Role of Board Appointments

This paper empirically examines the Capital Purchase program (CPP) under TARP that was used by the U.S. government to bail out distressed banks with equity infusions. We hypothesize that a feature of the CPP, namely the ability of the...

Christian Mücke | Loriana Pelizzon | Vincenzo Pezone | Anjan Thakor
01 December 2005

Financial Liberalization and Banking Crises: The Role of Capital Inflows and Lack of Transparency

This paper shows that the liberalization of capital inflows may undermine bank stability in emerging markets. After financial liberalization, uninformed international investors rationally provide large amounts of funds at low...

Mariassunta Giannetti
01 July 2005

Financial Integration and Firm Performance: Evidence from Foreign Bank Entry in Emerging Markets

While the positive growth effects of financial integration are extensively documented, little is known of its impact on small and young firms. This paper aims to fill this void relying on a panel of 60,000 firm-year observations on...

Mariassunta Giannetti | Steven Ongena