https://scholars.lib.ntu.edu.tw/handle/123456789/579989
標題: | Risk-taking of bank CEOs and corporate innovation | 作者: | Giau Bui D YEH-NING CHEN Lin C.-Y Lin T.-C. |
公開日期: | 2021 | 卷: | 115 | 來源出版物: | Journal of International Money and Finance | 摘要: | We find that banks with CEOs who postpone exercising deep in-the-money options are more likely to lend to firms that are smaller, riskier, and more engaged in corporate innovation. These borrowers also spend more on R&D than a matched sample after getting the loans. Subsequently, these borrowers have higher innovation outputs and achieve greater market valuations. Overall, our findings suggest that the bank CEOs who reveal a high risk-taking attitude by their option exercising behavior help facilitate technological progress via the syndicate loans. ? 2021 Elsevier Ltd |
URI: | https://www.scopus.com/inward/record.uri?eid=2-s2.0-85102268820&doi=10.1016%2fj.jimonfin.2021.102387&partnerID=40&md5=95d85faaff68d73ab28a787666f236fa https://scholars.lib.ntu.edu.tw/handle/123456789/579989 |
ISSN: | 02615606 | DOI: | 10.1016/j.jimonfin.2021.102387 |
顯示於: | 財務金融學系 |
在 IR 系統中的文件,除了特別指名其著作權條款之外,均受到著作權保護,並且保留所有的權利。