Initiative, Incentives, and Soft Information

Published Online:https://doi.org/10.1287/mnsc.2016.2690

References

  • Agarwal S, Hauswald R (2010) Distance and private information in lending. Rev. Financial Stud. 23(7):2757–2788.CrossrefGoogle Scholar
  • Agarwal S, Hauswald R (2016) Authority and information. Working paper, Georgetown University, Washington, DC.Google Scholar
  • Aghion P, Tirole J (1997) Formal and real authority in organizations. J. Political Econom. 105(1):1–29.CrossrefGoogle Scholar
  • Berger A, Miller N, Petersen M, Rajan R, Stein J (2005) Does function follow organizational form? Evidence from the lending practices of large and small banks. J. Financial Econom. 76(2):237–269.CrossrefGoogle Scholar
  • Beshears J (2013) The performance of corporate alliances: Evidence from oil and gas drilling in the Gulf of Mexico. J. Financial Econom. 110(2):324–346.CrossrefGoogle Scholar
  • Bolton P, Dewatripont M (1994) The firm as a communication network. Quart. J. Econom. 109(4):809–839.CrossrefGoogle Scholar
  • Cameron A, Gelbach J, Miller D (2008) Bootstrap-based improvements for inference with clustered errors. Rev. Econom. Statist. 90(3):414–427.CrossrefGoogle Scholar
  • Chandler A (1962) Strategy and Structure: Chapters in the History of the Industrial Enterprise (MIT Press, Cambridge, MA).Google Scholar
  • Coase R (1937) The nature of the firm. Economica 4(16):386–405.CrossrefGoogle Scholar
  • Crawford VP, Sobel J (1982) Strategic information transmission. Econometrica 50(6):1431–1451.CrossrefGoogle Scholar
  • Degryse H, Ongena S (2005) Distance, lending relationships, and competition. J. Finance 60(1):231–266.CrossrefGoogle Scholar
  • Dessein W (2002) Authority and communication in organizations. Rev. Econom. Stud. 69(4):811–838.CrossrefGoogle Scholar
  • Firestone S, Rezende M (2016) Are banks’ internal risk parameters consistent? Evidence from syndicated loans. J. Financial Services Res. 50(2):211–242.CrossrefGoogle Scholar
  • Garicano L (2000) Hierarchies and the organization of knowledge in production. J. Political Econom. 108(5):874–904.CrossrefGoogle Scholar
  • Grossman SJ, Hart OD (1986) The costs and benefits of ownership: A theory of vertical and lateral integration. J. Political Econom. 94(4):691–719.CrossrefGoogle Scholar
  • Hart O (1995) Firms, Contracts, and Financial Structure (Clarendon Press, Oxford, UK).CrossrefGoogle Scholar
  • Hart O, Moore J (1990) Property rights and the nature of the firm. J. Political Econom. 98(6):1119–1158.CrossrefGoogle Scholar
  • Keys B, Seru A, Vig V (2012) Lender screening and role of securitization: Evidence from prime and subprime mortgage markets. Rev. Financial Stud. 25(8):2071–2108.CrossrefGoogle Scholar
  • Keys B, Mukherjee T, Seru A, Vig V (2009) Financial regulation and securitization: Evidence from subprime loans. J. Monetary Econom. 56(5):700–720.CrossrefGoogle Scholar
  • Keys B, Mukherjee T, Seru A, Vig V (2010) Did securitization lead to lax screening? Evidence from subprime loans. Quart. J. Econom. 125(1):307–362.CrossrefGoogle Scholar
  • Liberti J (2005) Initiative, incentives and soft information: How does delegation impact the role of bank relationship managers? Working paper, Northwestern University, Evanston, IL.Google Scholar
  • Liberti J, Mian A (2009) Estimating the effect of hierarchies on information use. Rev. Financial Stud. 22(10):4057–4090.CrossrefGoogle Scholar
  • Liberti J, Petersen M (2017) Information: Hard and soft. Rev. Corporate Finance Stud. (conditionally accepted).Google Scholar
  • Liberti J, Seru A, Vig V (2016) Information, credit and organization. Working paper, Stanford Graduate School of Business, Stanford University, Stanford, CA.CrossrefGoogle Scholar
  • Lucas RE Jr (1976) Econometric policy evaluation: A critique. Bruner K, Meltzer AH, eds. Carnegie-Rochester Conf. Ser. Public Policy, Vol. 1 (North-Holland, Amsterdam), 19–46.CrossrefGoogle Scholar
  • Mian A (2006) Distance constraints: The limits of foreign lending in poor economies. J. Finance 61(3):1465–1505.CrossrefGoogle Scholar
  • Mullainathan S, Scharfstein D (2001) Do firm boundaries matter? Amer. Econom. Rev. 91(2):195–199.CrossrefGoogle Scholar
  • Petersen MA, Rajan R (2002) Does distance still matter? The information revolution in small business lending. J. Finance 57(6):2533–2570.CrossrefGoogle Scholar
  • Plosser M, Santos J (2014) Bank’s incentives and the quality of internal risk models. Working paper, Federal Reserve Bank of New York, New York.CrossrefGoogle Scholar
  • Purnanandam A (2011) Originate-to-distribute model and the subprime mortgage crisis. Rev. Financial Stud. 24(6):1881–1915.CrossrefGoogle Scholar
  • Rajan U, Seru A, Vig V (2010) Statistical default models and incentives. Amer. Econom. Rev. 100(2):506–510.CrossrefGoogle Scholar
  • Rajan U, Seru A, Vig V (2015) The failure of models that predict failure: Distance, incentives and defaults. J. Financial Econom. 155(2):237–260.CrossrefGoogle Scholar
  • Robinson D (2008) Strategic alliances and the boundaries of the firm. Rev. Financial Stud. 21(2):649–681.CrossrefGoogle Scholar
  • Seru A (2014) Firm boundaries matter: Evidence from conglomerates and R&D activity. J. Financial Econom. 111(2):381–405.CrossrefGoogle Scholar
  • Skrastins J, Vig V (2016) How organizational hierarchy affects information production? Working paper, London Business School, London.Google Scholar
  • Stein J (2002) Information production and capital allocation: Decentralized versus hierarchical firms. J. Finance 57(5):1891–1921.CrossrefGoogle Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.