Leverage

Looking in SEC disclosures for the next LTCM

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This September will see two important financial crisis anniversaries. Not only will it be ten years since Lehman Brothers filed for bankruptcy, but also twenty years since the near-collapse of the hedge fund Long-Term Capital Management. Amid all the reforms to the global banking system and trading infrastructure since 2008, it’s worth asking the question: could an outsized hedge fund threaten the financial system today in the same way that LTCM did in 1998?

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Looking in SEC disclosures for the next LTCM

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This September will see two important financial crisis anniversaries. Not only will it be ten years since Lehman Brothers filed for bankruptcy, but also twenty years since the near-collapse of the hedge fund Long-Term Capital Management. Amid all the reforms to the global banking system and trading infrastructure since 2008, it’s worth asking the question: could an outsized hedge fund threaten the financial system today in the same way that LTCM did in 1998?

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Cash Holdings and Labor Heterogeneity: The Role of Skilled Labor

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Posted by Mohamed Ghaly, Lancaster University and Konstantinos Stathopoulos, University of Manchester, on Sunday, April 2, 2017

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Is the American Public Corporation in Trouble?

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Posted by Kathy Kahle, University of Arizona and René Stulz, Ohio State University, ECGI, and NBER, on Friday, March 24, 2017

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Financial Crisis, Corporate Governance, and Bank Capital

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Posted by Sanjai Bhagat, University of Colorado Boulder, on Friday, March 17, 2017

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Bank Regulation and Securitization: How the Law Improved Transmission Lines between Real Estate and Banking Crises

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Posted by Erik F. Gerding, University of Colorado Law School, on Friday, February 3, 2017
Editor's Note: Erik F. Gerding is a Professor at the University of Colorado Law School. This post is based on his recent article.

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Are Directors Really Irrelevant to Capital Structure Choice?

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Posted by André Gygax, University of Melbourne, on Friday, December 30, 2016

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Corporate Deleveraging

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Posted by Harry DeAngelo, University of Southern California, on Tuesday, November 22, 2016

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Key Points from Governor Tarullo’s Speech on Stress Testing and the Fed’s NPR

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Posted by Dan Ryan, PricewaterhouseCoopers LLP, on Saturday, October 15, 2016
Editor's Note: Dan Ryan is Leader of the Financial Services Advisory Practice at PricewaterhouseCoopers LLP. This post is based on a PwC publication by Mr. Ryan, Mike Alix, Adam Gilbert, and Armen Meyer.

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Do Firms Engage in Risk-Shifting? Empirical Evidence

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Posted by Erik Gilje, The Wharton School, on Sunday, September 25, 2016
Editor's Note:

Erik Gilje is Assistant Professor of Finance at The Wharton School of the University of Pennsylvania. This post is based on his recent paper.

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