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Essays on Financial Intermediaries.

The University of Texas at Dallas.

Essays on Financial Intermediaries.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Essays on Financial Intermediaries./
Author:	Liang, Lantian.
Description:	1 online resource (122 pages)
Notes:	Source: Dissertation Abstracts International, Volume: 79-03(E), Section: A.
Contained By:	Dissertation Abstracts International79-03A(E).
Subject:	Finance. -
Online resource:	click for full text (PQDT)
ISBN:	9780355392531

Essays on Financial Intermediaries.
Liang, Lantian.

Essays on Financial Intermediaries. - 1 online resource (122 pages)

Source: Dissertation Abstracts International, Volume: 79-03(E), Section: A.

Thesis (Ph.D.)

Includes bibliographical references

This dissertation consists of two essays that study the issues related to financial intermediaries. In the first essay, I examine the effects of institutional common ownership on the use of peer benchmarking for CEO pay. By compensating managers based on their co-owned peers' performance as well as their own performance, blockholders can incentivize managers to avoid head-to-head competition with their co-owned peers while maximizing group performance. I find that CEOs' total compensation is positively sensitive to the stock performance of industry peers that share common blockholders. Furthermore, I document that firms sharing common blockholders tend to have more differentiated products, greater joint market share, and greater geographical overlap in business operations.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780355392531Subjects--Topical Terms:

559073
Finance.
Index Terms--Genre/Form:

554714
Electronic books.

Essays on Financial Intermediaries.
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035 $a (MiAaPQ)0382vireo:209Liang
035 $a AAI10675232
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099 $a TUL $f hyy $c available through World Wide Web
100 1 $a Liang, Lantian. $3 1183042
245 1 0 $a Essays on Financial Intermediaries.
264 0 $c 2017
300 $a 1 online resource (122 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Dissertation Abstracts International, Volume: 79-03(E), Section: A.
500 $a Advisers: Vikram Nanda; Harold Zhang.
502 $a Thesis (Ph.D.) $c The University of Texas at Dallas $d 2017.
504 $a Includes bibliographical references
520 $a This dissertation consists of two essays that study the issues related to financial intermediaries. In the first essay, I examine the effects of institutional common ownership on the use of peer benchmarking for CEO pay. By compensating managers based on their co-owned peers' performance as well as their own performance, blockholders can incentivize managers to avoid head-to-head competition with their co-owned peers while maximizing group performance. I find that CEOs' total compensation is positively sensitive to the stock performance of industry peers that share common blockholders. Furthermore, I document that firms sharing common blockholders tend to have more differentiated products, greater joint market share, and greater geographical overlap in business operations.
520 $a In the second essay, my coauthors and I examine the impact of the disclosure regulation under Regulation AB, which is the disclosure rule that requires all material risk factors applicable to the transaction or to the nature of the security to be disclosed. Specifically, we look at the responses of financial intermediaries to the regulatory changes on disclosure in the asset-back securities market. We find an immediate jump in the percentage of deals with origination stakes just below the disclosure threshold following the implementation of Regulation AB. We also provide evidence that MBS underwriters deliberately keep lower quality loans below the disclosure threshold in order to evade disclosure.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Finance. $3 559073
650 4 $a Management. $3 558618
655 7 $a Electronic books. $2 local $3 554714
690 $a 0508
690 $a 0454
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a The University of Texas at Dallas. $b Management Science. $3 1181148
773 0 $t Dissertation Abstracts International $g 79-03A(E).
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10675232 $z click for full text (PQDT)

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