-
作者：Uhr, Charline
作者单位：Danish Finance Institute; Aarhus University
摘要：Does the performance of advisors' recommendations influence investors' propensity to seek advice again? I investigate a sample of calls between 10,063 German brokerage clients and financial advisors from 2005-2015. If advisors' recommendations in the initial meeting led to positive (vs. negative) performance, investors are 2.1 times more likely to arrange a second meeting. This effect is driven by the performance of the recommendations the investor decided to follow. Investors with positive pe...
-
作者：Traweek, Virginia; Wardlaw, Malcolm
作者单位：Texas Christian University; University System of Georgia; University of Georgia
摘要：We study depositor behavior and capital flight using data from the Freedman's Savings Bank, a bank established after the U.S. Civil War to support formerly enslaved individuals. White depositors, who generally had better access to financial information, begin providing significant funding as interest terms are enhanced. They respond faster to postpanic stabilization efforts and negative bank-specific information, and are twice as likely to close accounts before failure, passing expected losses...
-
作者：Brennecke, Claire; Jacewitz, Stefan; Pogach, Jonathan
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Kansas City; Federal Deposit Insurance Corporation (FDIC)
摘要：We identify a new source for the declining role of small banks in the banking industry: Long-term changes in the banking sector are partially a consequence of changes in the industrial sector. Small banks are relatively more exposed to small business shocks, because small businesses compose a larger share of their customers. Lower real-side demand for small business financial services is responsible for part of the relative decline in small banks' deposits. Rough calculations suggest that depo...
-
作者：Celerier, Claire; Tak, Purnoor
作者单位：University of Toronto; University of London; London Business School
摘要：We study how bank advertising practices contribute to racial disparities in financial markets by steering minorities toward inferior products. We exploit a regulatory change that incentivizes deposit collection at the Freedman's Savings Bank, the first institution to collect deposits from African Americans post-Emancipation, by facilitating misuse of depositor funds. After deregulation, advertising volume rises, particularly in African American newspapers, leading to increased deposits from Bl...
-
作者：Slutzky, Pablo; Xu, Sheng-Jun
作者单位：University System of Maryland; University of Maryland College Park; University of Alberta
摘要：In the United States, a significant number of criminal defendants are held in pretrial detention and face substantial financial burdens. Matching individual-level criminal case records to household-level financial data, we exploit the quasi-random assignment of court commissioners to study how pretrial detention affects household solvency. We find that pretrial detention results in higher rates of household insolvency, driven by higher rates of chapter 7 bankruptcies and judgment liens, and hi...
-
作者：Uhr, Charline
作者单位：Danish Finance Institute; Aarhus University
摘要：Does the performance of advisors' recommendations influence investors' propensity to seek advice again? I investigate a sample of calls between 10,063 German brokerage clients and financial advisors from 2005-2015. If advisors' recommendations in the initial meeting led to positive (vs. negative) performance, investors are 2.1 times more likely to arrange a second meeting. This effect is driven by the performance of the recommendations the investor decided to follow. Investors with positive pe...
-
作者：Traweek, Virginia; Wardlaw, Malcolm
作者单位：Texas Christian University; University System of Georgia; University of Georgia
摘要：We study depositor behavior and capital flight using data from the Freedman's Savings Bank, a bank established after the U.S. Civil War to support formerly enslaved individuals. White depositors, who generally had better access to financial information, begin providing significant funding as interest terms are enhanced. They respond faster to postpanic stabilization efforts and negative bank-specific information, and are twice as likely to close accounts before failure, passing expected losses...
-
作者：Brennecke, Claire; Jacewitz, Stefan; Pogach, Jonathan
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Kansas City; Federal Deposit Insurance Corporation (FDIC)
摘要：We identify a new source for the declining role of small banks in the banking industry: Long-term changes in the banking sector are partially a consequence of changes in the industrial sector. Small banks are relatively more exposed to small business shocks, because small businesses compose a larger share of their customers. Lower real-side demand for small business financial services is responsible for part of the relative decline in small banks' deposits. Rough calculations suggest that depo...
-
作者：Celerier, Claire; Tak, Purnoor
作者单位：University of Toronto; University of London; London Business School
摘要：We study how bank advertising practices contribute to racial disparities in financial markets by steering minorities toward inferior products. We exploit a regulatory change that incentivizes deposit collection at the Freedman's Savings Bank, the first institution to collect deposits from African Americans post-Emancipation, by facilitating misuse of depositor funds. After deregulation, advertising volume rises, particularly in African American newspapers, leading to increased deposits from Bl...
-
作者：Slutzky, Pablo; Xu, Sheng-Jun
作者单位：University System of Maryland; University of Maryland College Park; University of Alberta
摘要：In the United States, a significant number of criminal defendants are held in pretrial detention and face substantial financial burdens. Matching individual-level criminal case records to household-level financial data, we exploit the quasi-random assignment of court commissioners to study how pretrial detention affects household solvency. We find that pretrial detention results in higher rates of household insolvency, driven by higher rates of chapter 7 bankruptcies and judgment liens, and hi...
