Decision-Making Delegation in Banks

References

• Adams B, Williams KR (2019) Zone pricing in retail oligopoly. Amer. Econom. J. Microeconom. 11(1):124–156.Crossref, Google Scholar
• Adelino M, Ma S, Robinson D (2017) Firm age, investment opportunities, and job creation. J. Finance 72(3):999–1038.Crossref, Google Scholar
• Aghion P, Tirole J (1997) Formal and real authority in organizations. J. Political Econom. 105(1):1–29.Crossref, Google Scholar
• Aghion P, Bloom N, Lucking B, Sadun R, Van Reenen J (2021) Turbulence, firm decentralization, and growth in bad times. Amer. Econom. J. Appl. Econom. 13(1):133–169.Crossref, Google Scholar
• Alonso R, Dessein W, Matouschek N (2008) When does coordination require centralization? Amer. Econom. Rev. 98(1):145–179.Crossref, Google Scholar
• Beck T, Levine R, Levkov A (2010) Big bad banks? The winners and losers from bank deregulation in the United States. J. Finance 65(5):1637–1667.Crossref, Google Scholar
• Becker B (2007) Geographical segmentation of US capital markets. J. Financial Econom. 85(1):151–178.Crossref, Google Scholar
• Ben-David I, Palvia A, Spatt C (2017) Banks’ internal capital markets and deposit rates. J. Financial Quant. Anal. 52(5):1797–1826.Crossref, Google Scholar
• Berger AN, Udell GF (1995) Universal banking and the future of small business lending. Working paper, Stern School of Business, New York University, New York.Google Scholar
• Berger AN, Demsetz RS, Strahan PE (1999) The consolidation of the financial services industry: Causes, consequences, and implications for the future. J. Bank. Finance 23(2–4):135–194.Crossref, Google Scholar
• Berger AN, Klapper LF, Udell GF (2001) The ability of banks to lend to informationally opaque small businesses. J. Bank. Finance 25(12):2127–2167.Crossref, Google Scholar
• Berger AN, Saunders A, Scalise JM, Udell GF (1998) The effects of bank mergers and acquisitions on small business lending. J. Financial Econom. 50(2):187–229.Crossref, Google Scholar
• Berger AN, Miller NH, Petersen MA, Rajan RG, Stein JC (2005) Does function follow organizational form? Evidence from the lending practices of large and small banks. J. Financial Econom. 76(2):237–269.Crossref, Google Scholar
• Berger E (2022) Finance in the new U.S. economy: Local finance and service job growth in the post-industrial economy. J. Financial Quant. Anal. 57(5):1987–2021.Google Scholar
• Bertrand M, Duflo E, Mullainathan S (2004) How much should we trust differences-in-differences estimates? Quart. J. Econom. 119(1):249–275.Crossref, Google Scholar
• Black SE, Strahan PE (2002) Entrepreneurship and bank credit availability. J. Finance 57(6):2807–2833.Crossref, Google Scholar
• Bolton P, Dewatripont M (1994) The firm as a communication network. Quart. J. Econom. 109(4):809–839.Crossref, Google Scholar
• Brickley JA, Linck JS, Smith CW Jr (2003) Boundaries of the firm: Evidence from the banking industry. J. Financial Econom. 70(3):351–383.Crossref, Google Scholar
• Canales R, Nanda R (2012) A darker side to decentralized banks: Market power and credit rationing in SME lending. J. Financial Econom. 105(2):353–366.Crossref, Google Scholar
• Cetorelli N, Goldberg LS (2012) Banking globalization and monetary transmission. J. Finance 67(5):1811–1843.Crossref, Google Scholar
• Chavaz M (2016) Dis-integrating credit markets: Diversification, securitization, and lending in a recovery. Working paper, Bank of England, London.Google Scholar
• Chintagunta PK, Dubé JP, Singh V (2003) Balancing profitability and customer welfare in a supermarket chain. Quant. Marketing Econom. 1(1):111–147.Crossref, Google Scholar
• Cortés KR (2014) Rebuilding after disaster strikes: How local lenders aid in the recovery. Working paper, Federal Reserve Bank of Cleveland, Cleveland, OH.Google Scholar
• Cortés KR, Strahan PE (2017) Tracing out capital flows: How financially integrated banks respond to natural disasters. J. Financial Econom. 125(1):182–199.Crossref, Google Scholar
• Degryse H, Ongena S (2005) Distance, lending relationships, and competition. J. Finance 60(1):231–266.Crossref, Google Scholar
• Degryse H, Laeven L, Ongena S (2009) The impact of organizational structure and lending technology on banking competition. Rev. Finance 13(2):225–259.Crossref, Google Scholar
• DellaVigna S, Gentzkow M (2019) Uniform pricing in us retail chains. Quart. J. Econom. 134(4):2011–2084.Crossref, Google Scholar
• Drechsler I, Savov A, Schnabl P (2017) The deposits channel of monetary policy. Quart. J. Econom. 132(4):1819–1876.Crossref, Google Scholar
• Egan M, Hortacsu A, Matvos G (2017) Deposit competition and financial fragility: Evidence from the US banking sector. Amer. Econom. Rev. 107(1):169–216.Crossref, Google Scholar
• Flannery MJ, Bliss RR (2019) Market discipline in regulation: Pre and post crisis. Berger AN, Molyneux P, Wilson JOS, eds. The Oxford Handbook of Banking, 3rd ed. (Oxford University Press, Oxford, UK), 736–775.Google Scholar
• Garicano L (2000) Hierarchies and the organization of knowledge in production. J. Political Econom. 108(5):874–904.Crossref, Google Scholar
• Gertner RH, Scharfstein DS, Stein JC (1994) Internal vs. external capital markets. Quart. J. Econom. 109(4):1211–1230.Crossref, Google Scholar
• Gilje EP (2019) Does local access to finance matter? Evidence from US oil and natural gas shale booms. Management Sci. 65(1):1–18.Link, Google Scholar
• Gilje EP, Loutskina E, Strahan PE (2016) Exporting liquidity: Branch banking and financial integration. J. Finance 71(3):1159–1184.Crossref, Google Scholar
• Goldberg L, Hudgins S (2002) Depositor discipline and changing strategies for regulating thrift institutions. J. Financial Econom. 63(2):263–274.Crossref, Google Scholar
• Granja J, Paixao N (2021) Market concentration and uniform pricing: Evidence from bank mergers. Working paper, Bank of Canada, Ottawa, ON.Google 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.Crossref, Google Scholar
• Hanson SG, Shleifer A, Stein JC, Vishny RW (2015) Banks as patient fixed income investors. J. Financial Econom. 117(3):449–469.Crossref, Google Scholar
• Hart O, Moore J (1990) Property rights and the nature of the firm. J. Political Econom. 98(6):1119–1158.Crossref, Google Scholar
• Hong H, Kacperczyk M (2010) Competition and bias. Quart. J. Econom. 125(4):1683–1725.Crossref, Google Scholar
• Jayaratne J, Morgan DP (2000) Capital market frictions and deposit constraints at banks. J. Money Credit Bank. 32(1):74–92.Crossref, Google Scholar
• Jayaratne J, Strahan PE (1996) The finance-growth nexus: Evidence from bank branch deregulation. Quart. J. Econom. 111(3):639–670.Crossref, Google Scholar
• Keeton WR (2009) Has multi-market banking changed the response of small business lending to local economic shocks? Econom. Rev., Federal Reserve Bank of Kansas City 94(Q I):5–35.Google Scholar
• Khan RJ, Jain DC (2005) An empirical analysis of price discrimination mechanisms and retailer profitability. J. Marketing Res. 42(4):516–524.Crossref, Google Scholar
• Landier A, Sraer D, Thesmar D (2017) Banking integration and house price co-movement. J. Financial Econom. 125(1):1–25.Crossref, Google Scholar
• Liberti JM (2017) Initiative, incentives, and soft information. Management Sci. 64(8):3714–3734.Link, Google Scholar
• Liberti JM, Mian AR (2009) Estimating the effect of hierarchies on information use. Rev. Financial Stud. 22(10):4057–4090.Crossref, Google Scholar
• Liberti JM, Seru A, Vig V (2015) Information, credit, and organization. Working paper, Stanford Graduate School of Business, Stanford, CA.Google Scholar
• Loutskina E, Strahan PE (2015) Financial integration, housing, and economic volatility. J. Financial Econom. 115(1):25–41.Crossref, Google Scholar
• Mian A (2006) Distance constraints: The limits of foreign lending in poor economies. J. Finance 61(3):1465–1505.Crossref, Google Scholar
• Montgomery AL (1997) Creating micro-marketing pricing strategies using supermarket scanner data. Marketing Sci. 16(4):315–337.Link, Google Scholar
• Morgan DP, Rime B, Strahan PE (2004) Bank integration and state business cycles. Quart. J. Econom. 119(4):1555–1584.Crossref, Google Scholar
• Nagar V (2002) Delegation and incentive compensation. Accounting Rev. 77(2):379–395.Crossref, Google Scholar
• Nguyen HLQ (2019) Are credit markets still local? Evidence from bank branch closings. Amer. Econom. J. Appl. Econom. 11(1):1–32.Crossref, Google Scholar
• Peek J, Rosengren ES (1997) The international transmission of financial shocks: The case of Japan. Amer. Econom. Rev. 87(4):495–505.Google Scholar
• Petersen MA, Rajan RG (1995) The effect of credit market competition on lending relationships. Quart. J. Econom. 110(2):407–443.Crossref, Google Scholar
• Petersen MA, Rajan RG (2002) Does distance still matter? The information revolution in small business lending. J. Finance 57(6):2533–2570.Crossref, Google Scholar
• Qian J, Strahan PE, Yang Z (2015) The impact of incentives and communication costs on information production and use: Evidence from bank lending. J. Finance 70(4):1457–1493.Crossref, Google Scholar
• Rajan R, Servaes H, Zingales L (2000) The cost of diversity: The diversification discount and inefficient investment. J. Finance 55(1):35–80.Crossref, Google Scholar
• Scharfstein DS, Stein JC (2000) The dark side of internal capital markets: Divisional rent‐seeking and inefficient investment. J. Finance 55(6):2537–2564.Crossref, Google Scholar
• Shin HH, Stulz RM (1998) Are internal capital markets efficient? Quart. J. Econom. 113(2):531–552.Crossref, Google Scholar
• Skrastins J, Vig V (2019) How organizational hierarchy affects information production. Rev. Financial Stud. 32(2):564–604.Crossref, Google Scholar
• Stein JC (1997) Internal capital markets and the competition for corporate resources. J. Finance 52(1):111–133.Crossref, Google Scholar
• Stein JC (2002) Information production and capital allocation: Decentralized vs. hierarchical firms. J. Finance 57(5):1891–1921.Crossref, Google Scholar
• Stiglitz JE, Weiss A (1981) Credit rationing in markets with imperfect information. Amer. Econom. Rev. 71(3):393–410.Google Scholar
• Strahan PE, Weston JP (1998) Small business lending and the changing structure of the banking industry. J. Bank. Finance 22(6–8):821–845.Crossref, Google Scholar