Banking

Working Paper

The Wages of Failure: Executive Compensation at Bear Stearns and Lehman 2000-2008

The standard narrative of the meltdown of Bear Stearns and Lehman Brothers assumes that the wealth of the top executives of these firms was largely wiped out along with their firms. In the ongoing debate about regulatory responses to the...Read more

Lucian Bebchuk
Alma Cohen
Holger Spamann
01 June 2010

The Flight Home Effect: Evidence from the Syndicated Loan Market During Financial Crises

In the context of the global market for syndicated bank loans, we provide evidence that the collapse of international markets during financial crises can in part be explained by a flight home effect. We show that the home bias of lenders’ loan...Read more

Mariassunta Giannetti
Luc Laeven
01 May 2011

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