Mark J. Flannery

University of Florida - Department of Finance, Insurance and Real Estate

P.O. Box 117168

Gainesville, FL 32611

United States

SCHOLARLY PAPERS

43

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819

Scholarly Papers (43)

Stabilizing Large Financial Institutions with Contingent Capital Certificates

Number of pages: 34 Posted: 10 Oct 2009
Mark J. Flannery
University of Florida - Department of Finance, Insurance and Real Estate
Downloads 1,873 (7,856)
Citation 95

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contingent capital, market discipline, prudential supervision

Stabilizing Large Financial Institutions with Contingent Capital Certificates

CAREFIN Research Paper No. 04/2010
Number of pages: 33 Posted: 30 Mar 2011
Mark J. Flannery
University of Florida - Department of Finance, Insurance and Real Estate
Downloads 634 (39,937)

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Macroeconomic Factors Do Influence Aggregate Stock Returns

Number of pages: 49 Posted: 03 Oct 2002
Mark J. Flannery and Aris Protopapadakis
University of Florida - Department of Finance, Insurance and Real Estate and University of Southern California - Marshall School of Business - Finance and Business Economics Department
Downloads 2,435 (5,013)
Citation 7

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stock returns, factor, macroeconomics

Macroeconomic Factors Do Influence Aggregate Stock Returns

Review of Financial Studies, Forthcoming
Posted: 03 Oct 2002
Mark J. Flannery and Aris Protopapadakis
University of Florida - Department of Finance, Insurance and Real Estate and University of Southern California - Marshall School of Business - Finance and Business Economics Department

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stock returns, factor, macroeconomics

3.

Partial Adjustment Toward Target Capital Structures

AFA 2005 Philadelphia Meetings
Number of pages: 50 Posted: 10 Jan 2005
Mark J. Flannery and Kasturi P. Rangan
University of Florida - Department of Finance, Insurance and Real Estate and Case Western Reserve University - Department of Banking & Finance
Downloads 1,873 (8,014)
Citation 155

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Capital Structure, Partial Adjustment

4.

Cash Flows and Leverage Adjustments

Journal of Financial Economics (JFE), March 2012, AFA 2008 New Orleans Meetings Paper
Number of pages: 40 Posted: 21 Mar 2007 Last Revised: 07 Nov 2013
University of Maryland - Robert H. Smith School of Business, University of Florida - Department of Finance, Insurance and Real Estate, University of Kentucky and Utah State University
Downloads 1,630 (10,071)
Citation 4

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Capital Structure, Corporate Finance

5.

Payday Lending: Do the Costs Justify the Price?

FDIC Center for Financial Research Working Paper No. 2005/09
Number of pages: 41 Posted: 17 Aug 2005
Mark J. Flannery and Katherine Samolyk
University of Florida - Department of Finance, Insurance and Real Estate and Government of the United States of America - Division of Research and Statistics
Downloads 1,373 (13,270)
Citation 21

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Consumer finance, consumer credit, payday lending, predatory lending

6.

Estimating Dynamic Panel Models in Corporate Finance

Journal of Corporate Finance, Forthcoming
Number of pages: 46 Posted: 25 Mar 2008 Last Revised: 15 Oct 2012
Mark J. Flannery and Kristine Watson Hankins
University of Florida - Department of Finance, Insurance and Real Estate and University of Kentucky
Downloads 1,041 (20,212)
Citation 6

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Corporate finance, financial econometrics, dynamic panel estimation

7.

Credit Default Swap Spreads as Viable Substitutes for Credit Ratings

University of Pennsylvania Law Review, Vol. 158, 2010, San Diego Legal Studies Paper No. 10-031
Number of pages: 40 Posted: 27 Aug 2010 Last Revised: 03 Sep 2010
Mark J. Flannery, Joel F. Houston and Frank Partnoy
University of Florida - Department of Finance, Insurance and Real Estate, University of Florida - Department of Finance, Insurance and Real Estate and University of California, Berkeley - School of Law
Downloads 992 (21,723)
Citation 2

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credit ratings, credit default swaps, finance, structured finance, event studies

Comparing Market and Supervisory Assessments of Bank Performance: Who Knows What When?

FEDS Paper No. 98-32
Number of pages: 43 Posted: 09 Oct 1998
Allen N. Berger, Sally M. Davies and Mark J. Flannery
University of South Carolina - Darla Moore School of Business, Government of the United States of America - International Banking Section and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 928 (23,550)
Citation 5

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Comparing Market and Supervisory Assessments of Bank Performance: Who Knows What When?

Journal of Money, Credit and Banking, Vol. 32, No. 3, Part II, August 2000, What Should Central Banks Do?: A conference sponsored by the Federal Reserve Bank of Cleveland, ed. Joseph G. Haubrich, October 27-29, 1999
Posted: 11 Jul 2000
Allen N. Berger, Sally M. Davies and Mark J. Flannery
University of South Carolina - Darla Moore School of Business, Government of the United States of America - International Banking Section and University of Florida - Department of Finance, Insurance and Real Estate

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Are Bank Loans Special? Evidence on the Post-Announcement Performance of Bank Borrowers.

AFA 2002 Atlanta Meetings
Number of pages: 41 Posted: 16 Aug 2001
Matthew T. Billett, Mark J. Flannery and Jon A. Garfinkel
Indiana University - Kelley School of Business - Department of Finance, University of Florida - Department of Finance, Insurance and Real Estate and University of Iowa - Tippie College of Business
Downloads 852 (26,656)
Citation 4

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Bank Loans, Long-run Performance

Are Bank Loans Special? Evidence on the Post-Announcement Performance of Bank Borrowers

Journal of Financial and Quantitative Analysis, Forthcoming
Posted: 24 Jun 2005
Matthew T. Billett, Mark J. Flannery and Jon A. Garfinkel
Indiana University - Kelley School of Business - Department of Finance, University of Florida - Department of Finance, Insurance and Real Estate and University of Iowa - Tippie College of Business

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Bank Loans, Long-run Performance

10.

No Pain, No Gain? Effecting Market Discipline Via 'Reverse Convertible Debentures'

Number of pages: 32 Posted: 26 Feb 2003
Mark J. Flannery
University of Florida - Department of Finance, Insurance and Real Estate
Downloads 805 (29,291)
Citation 38

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11.

How Do Large Banking Organizations Manage Their Capital Ratios?

Journal of Financial Services Research, Vol. 34, No. 2-3, 2008
Number of pages: 27 Posted: 27 Feb 2008 Last Revised: 06 Feb 2011
University of South Carolina - Darla Moore School of Business, University of Kansas School of Business, University of Florida - Department of Finance, Insurance and Real Estate, FDIC, Division of Insurance and Research and Florida International University (FIU)
Downloads 776 (30,822)
Citation 2

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Banks, Capital management, Capital regulation, Partial adjustment models

12.

Market Forces at Work in the Banking Industry: Evidence from the Capital Buildup of the 1990s

AFA 2003 Washington, DC Meetings; EFA 2002 Berlin Meetings Presented Paper
Number of pages: 49 Posted: 04 Mar 2002
Mark J. Flannery and Kasturi P. Rangan
University of Florida - Department of Finance, Insurance and Real Estate and Case Western Reserve University - Department of Banking & Finance
Downloads 757 (31,914)
Citation 23

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Contingent Capital Instruments for Large Financial Institutions: A Review of the Literature

Annual Review of Financial Economics, 6, 2014, DOI: 10.1146/annurev-financial-110613-034331
Number of pages: 31 Posted: 30 Jan 2014
Mark J. Flannery
University of Florida - Department of Finance, Insurance and Real Estate
Downloads 737 (32,576)

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bank supervision, capital adequacy, contingent capital

Contingent Capital Instruments for Large Financial Institutions: A Review of the Literature

Annual Review of Financial Economics, Vol. 6, pp. 225-240, 2014
Posted: 25 Nov 2014
Mark J. Flannery
University of Florida - Department of Finance, Insurance and Real Estate

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14.

Major Investments, Firm Financing Decisions, and Long-Run Performance

EFA 2004 MAASTRICHT
Number of pages: 43 Posted: 08 Mar 2006
Ralf Elsas, Mark J. Flannery and Jon A. Garfinkel
Ludwig Maximilian University of Munich (LMU) - Faculty of Business Administration (Munich School of Management), University of Florida - Department of Finance, Insurance and Real Estate and University of Iowa - Tippie College of Business
Downloads 687 (36,420)
Citation 2

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firm financing, firm investments, long-run performance

15.

Institutional Determinants of Capital Structure Adjustment Speeds

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 58 Posted: 30 Mar 2009 Last Revised: 26 Feb 2013
Özde Öztekin and Mark J. Flannery
Florida International University (FIU) and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 656 (38,688)
Citation 20

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dynamic capital structure, international, partial adjustment, institutions

16.

Market Discipline in the Governance of U.S. Bank Holding Companies: Monitoring vs. Influencing

EFA 2001 Barcelona Meetings, FRB Chicago Working Paper No. 2000-03
Number of pages: 41 Posted: 06 Jul 2001
Robert R. Bliss and Mark J. Flannery
Wake Forest University - Schools of Business and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 636 (40,348)
Citation 23

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17.

Do Personal Taxes Affect Capital Structure: Evidence from the 2003 Tax Cut

Journal of Financial Economics (JFE), 2013, 109, 549-565
Number of pages: 45 Posted: 14 Mar 2012 Last Revised: 29 Sep 2014
Leming Lin and Mark J. Flannery
University of Pittsburgh - Katz Graduate School of Business and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 586 (45,130)
Citation 2

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Capital structure, Personal taxes, Individual ownership

18.

Frequent Issuers' Influence on Long-Run Post-Issuance Returns

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 40 Posted: 18 Mar 2006 Last Revised: 12 May 2014
Matthew T. Billett, Mark J. Flannery and Jon A. Garfinkel
Indiana University - Kelley School of Business - Department of Finance, University of Florida - Department of Finance, Insurance and Real Estate and University of Iowa - Tippie College of Business
Downloads 533 (50,760)
Citation 1

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External Finance, Security Issuance, Long-run Performance

The Information Content of Bank Exam Ratings and Subordinated Debt Prices

Number of pages: 32 Posted: 15 Jan 2001
University of Kansas School of Business, University of Florida - Department of Finance, Insurance and Real Estate, Promontory Financial Group and Texas A&M University - Department of Finance
Downloads 532 (50,274)

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Commercial banks, bank exam ratings, subordinated debt, market efficiency

The Information Content of Bank Exam Ratings and Subordinated Debt Prices

Journal of Money, Credit, and Banking
Posted: 06 Mar 2001
Robert DeYoung, Mark J. Flannery and William W. Lang
University of Kansas School of Business, University of Florida - Department of Finance, Insurance and Real Estate and Promontory Financial Group

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Commercial banks, bank exam ratings, subordinated debt, market efficiency

20.

Credit Lines and the Substitutability of Cash and Debt

Number of pages: 52 Posted: 20 Jun 2009 Last Revised: 06 Sep 2009
Mark J. Flannery and G. Brandon Lockhart
University of Florida - Department of Finance, Insurance and Real Estate and Clemson University - Department of Finance
Downloads 504 (54,480)
Citation 11

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Credit line, revolver, cash holdings, transactions costs, negative debt, flexibility

21.

Market Evidence on the Opaqueness of Banking Firms' Assets

Eleventh Annual Utah Winter Conference
Number of pages: 48 Posted: 11 Jul 2000
University of Florida - Department of Finance, Insurance and Real Estate, Federal Reserve Bank of San Francisco and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 460 (61,158)
Citation 15

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What Caused the Bank Capital Build-Up of the 1990s?

FDIC Center For Financial Research Working Paper No. 2004-03
Number of pages: 50 Posted: 01 Apr 2005
Mark J. Flannery and Kasturi P. Rangan
University of Florida - Department of Finance, Insurance and Real Estate and Case Western Reserve University - Department of Banking & Finance
Downloads 429 (65,875)
Citation 19

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Bank capital, bank risk, market discipline

What Caused the Bank Capital Build-Up of the 1990s?

Review of Finance, Vol. 12, Issue 2, pp. 391-429, 2008
Posted: 14 Jul 2008
Mark J. Flannery and Kasturi P. Rangan
University of Florida - Department of Finance, Insurance and Real Estate and Case Western Reserve University - Department of Banking & Finance

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G21, G28

23.

Borrowing Base Revolvers: Liquidity for Risky Firms

Number of pages: 33 Posted: 18 Jan 2011
Mark J. Flannery and Sara (Xiaohong) Wang
University of Florida - Department of Finance, Insurance and Real Estate and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 398 (72,802)
Citation 2

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Line of Credit, Corporate Liquidity, Borrowing Base Revolver, Borrower Risk, Loan Spread, Fund Availability, Covenants

24.

Financing Major Investments: Information About Capital Structure Decisions

Review of Finance, Forthcoming
Number of pages: 59 Posted: 12 Sep 2011 Last Revised: 15 Jul 2013
Ralf Elsas, Mark J. Flannery and Jon A. Garfinkel
Ludwig Maximilian University of Munich (LMU) - Faculty of Business Administration (Munich School of Management), University of Florida - Department of Finance, Insurance and Real Estate and University of Iowa - Tippie College of Business
Downloads 387 (75,225)
Citation 1

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firm financing, firm investments, capital structure

25.

Maintaining Adequate Bank Capital

Forthcoming, Journal of Money, Credit and Banking
Number of pages: 37 Posted: 30 Apr 2013
Mark J. Flannery
University of Florida - Department of Finance, Insurance and Real Estate
Downloads 341 (87,048)

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capital adequacy, bank failures, Basel

26.

Leverage Expectations and Bond Credit Spreads

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 50 Posted: 29 Nov 2009 Last Revised: 24 Feb 2013
University of Florida - Department of Finance, Insurance and Real Estate, University of Nebraska - Lincoln and Florida International University (FIU)
Downloads 316 (94,683)
Citation 1

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Credit Spreads, Capital Structure, Trade-off Theory, Pecking Order Theory

27.

Scale Economies at Payday Loan Stores

Flannery, Mark, and Katherine Samolyk. 2007. "Scale Economies at Payday Loan Stores," Proceedings of the Federal Reserve Bank of Chicago’s 43rd Annual Conference on Bank Structure and Competition (May 2007) Chicago, Illinois, pp 233-259
Number of pages: 24 Posted: 28 Nov 2013
Mark J. Flannery and Katherine A Samolyk
University of Florida - Department of Finance, Insurance and Real Estate and FDIC, Division of Insurance and Research
Downloads 235 (129,375)
Citation 4

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payday lending, price ceilings, small dollar loans

28.

The Effect of Fiduciary Standards and Institutions' Preference for Dividend-Paying Stocks

Financial Management, December 2008
Number of pages: 36 Posted: 26 Mar 2005 Last Revised: 11 Feb 2010
University of Kentucky, University of Florida - Department of Finance, Insurance and Real Estate and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 228 (133,286)
Citation 2

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institutional investors, dividends, Prudent Man

29.

New Estimates of the Jumbo-Conforming Mortgage Spread

Number of pages: 44 Posted: 24 Jan 2006
Alan S. Blinder, Mark J. Flannery and G. Brandon Lockhart
Princeton University - Department of Economics, University of Florida - Department of Finance, Insurance and Real Estate and Clemson University - Department of Finance
Downloads 218 (139,211)

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Fannie Mae, Freddie Mac, GSEs, securitization, subsidies, mortgage rates, MBS, yield spreads

30.

Measuring Equity Capital for Stress -- Testing Large Financial Institutions

Number of pages: 36 Posted: 20 Jan 2014
Mark J. Flannery
University of Florida - Department of Finance, Insurance and Real Estate
Downloads 173 (172,229)
Citation 6

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stress tests, capital adequacy

31.

Forging Best Practices in Risk Management

OFR 12-02
Number of pages: 73 Posted: 07 Aug 2015
University of Florida - Department of Finance, Insurance and Real Estate, Columbia Business School, New York University (NYU) - Courant Institute of Mathematical Sciences and University of Maryland
Downloads 146 (198,755)
Citation 3

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32.

Evaluating the Information in the Federal Reserve Stress Tests

FRB of NY Staff Report No. 744
Number of pages: 51 Posted: 06 Oct 2015 Last Revised: 30 Aug 2017
Mark J. Flannery, Beverly Hirtle and Anna Kovner
University of Florida - Department of Finance, Insurance and Real Estate, Federal Reserve Bank of New York - Banking Studies Department and Federal Reserve Bank of New York
Downloads 98 (267,256)

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stress test, bank capital, event study

33.

Market Discipline in Regulation: Pre- and Post-Crisis

Forthcoming, Oxford Handbook of Banking 3e, 2019
Number of pages: 51 Posted: 24 Oct 2018
Mark J. Flannery and Robert R. Bliss
University of Florida - Department of Finance, Insurance and Real Estate and Wake Forest University - Schools of Business
Downloads 80 (305,836)
Citation 25

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market discipline, financial regulation, bank failure resolution, Dodd-Frank, Bank Recovery and Resolution Directive, Total Loss Absorbing Capacity

34.

Macroeconomic News and the DM/$ Exchange Rate

Marshall School of Business Working Paper No. FBE 05.12
Number of pages: 58 Posted: 30 Jul 2012
Aris Protopapadakis and Mark J. Flannery
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 70 (327,641)

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35.

The Effect of a Government Reference Bond on Corporate Borrowing Costs: Evidence from a Natural Experiment

Number of pages: 45 Posted: 06 Apr 2019
Mark J. Flannery, Claire Yurong Hong and Baolian Wang
University of Florida - Department of Finance, Insurance and Real Estate, Shanghai Advanced Institute of Finance and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 48 (393,194)

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reference bond; China; corporate borrowing

36.

Transparency and Model Evolution in Stress Testing

Number of pages: 32 Posted: 07 Aug 2019
Mark J. Flannery
University of Florida - Department of Finance, Insurance and Real Estate
Downloads 13 (560,450)

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stress tests, policy transparency, model flexibility

37.

Corporate Finance and Financial Institutions

Annual Review of Financial Economics, Vol. 4, pp. 233-253, 2012
Posted: 04 Nov 2012
Mark J. Flannery
University of Florida - Department of Finance, Insurance and Real Estate

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38.

The Market Response to Federal Inspections of U.S. Bank Holding Companies

Posted: 11 May 2000
Mark J. Flannery and Joel F. Houston
University of Florida - Department of Finance, Insurance and Real Estate and University of Florida - Department of Finance, Insurance and Real Estate

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39.

The Value of a Government Monitor for U.S. Banking Firms

Journal of Money, Credit, and Banking, Vol. 31, No. 1, February 1999
Posted: 14 Sep 1998
Mark J. Flannery and Joel F. Houston
University of Florida - Department of Finance, Insurance and Real Estate and University of Florida - Department of Finance, Insurance and Real Estate

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40.

Financial Crises, Payment System Problems, and Discount Window Lending

J. OF MONEY, CREDIT, AND BANKING, Vol. 28 No. 4, November 1996
Posted: 13 May 1998
Mark J. Flannery
University of Florida - Department of Finance, Insurance and Real Estate

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41.

Using Market Information in Prudential Bank Supervision: A Review of the U.S. Empirical Evidence

Journal Of Money, Credit, And Banking, August 1998, Part 1
Posted: 10 Apr 1998
Mark J. Flannery
University of Florida - Department of Finance, Insurance and Real Estate

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Evidence of Bank Market Discipline in Subordinated Debenture Yields: 1983-1991

J. OF FINANCE, Vol. 51 No. 4, September 1996
Posted: 18 Jun 1996
Mark J. Flannery and Sorin M. Sorescu
University of Florida - Department of Finance, Insurance and Real Estate and Texas A&M University - Department of Finance

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Evidence of Bank Market Discipline in Subordinated Debenture Yields: 1983-1991

Posted: 17 May 1995
Mark J. Flannery and Sorin M. Sorescu
University of Florida - Department of Finance, Insurance and Real Estate and Texas A&M University - Department of Finance

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The Effect of Lender Identity on a Borrowing Firm's Equity Return

JOURNAL OF FINANCE, Vol 50 No 2, June 1995
Posted: 10 May 1995
Matthew T. Billett, Mark J. Flannery and Jon A. Garfinkel
Indiana University - Kelley School of Business - Department of Finance, University of Florida - Department of Finance, Insurance and Real Estate and University of Iowa - Tippie College of Business

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The Effect of Lender Identity on a Borrowing Firm's Equity Return

Posted: 16 May 1994
Matthew T. Billett, Mark J. Flannery and Jon A. Garfinkel
Indiana University - Kelley School of Business - Department of Finance, University of Florida - Department of Finance, Insurance and Real Estate and University of Iowa - Tippie College of Business

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