Anjan V. Thakor

Washington University in St. Louis - John M. Olin Business School

Director of the WFA Center for Finance and Accounting Research

One Brookings Drive

Campus Box 1133

St. Louis, MO 63130-4899

United States

Financial Theory Group

Fellow

United States

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

Massachusetts Institute of Technology (MIT) - Laboratory for Financial Engineering

Associate

100 Main Street, E62-618

Cambridge, MA 02142

United States

SCHOLARLY PAPERS

130

DOWNLOADS
Rank 626

SSRN RANKINGS

Top 626

in Total Papers Downloads

60,971

SSRN CITATIONS
Rank 635

SSRN RANKINGS

Top 635

in Total Papers Citations

1,290

CROSSREF CITATIONS

942

Scholarly Papers (130)

1.

Does Corporate Performance Determine Capital Structure and Dividend Policy?

Number of pages: 53 Posted: 22 Mar 2005
University of Maryland - Robert H. Smith School of Business, Washington University in St. Louis - John M. Olin Business School and Washington University in Saint Louis - Olin Business School
Downloads 5,424 (2,999)
Citation 8

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Capital Structure, Dividend Policy, Disagreement

2.

Fintech and Banking

Number of pages: 40 Posted: 27 Feb 2019 Last Revised: 03 Mar 2019
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 2,856 (8,685)
Citation 9

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Fintech, Cryptocurrencies, P2P Lending, Banking, Systemic Risk

3.
Downloads 2,828 ( 8,808)
Citation 17

Corporate Culture in Banking

Number of pages: 33 Posted: 16 Feb 2015
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 1,623 (20,869)
Citation 14

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corporate culture, banking stability, regulation, corporate governance

Corporate Culture in Banking

Economic Policy Review, Issue Aug, pp. 5-16, 2016
Number of pages: 12 Posted: 23 Aug 2016 Last Revised: 16 Dec 2017
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 1,205 (32,566)
Citation 11

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financial stability, risk management, managerial incentives, deferred cash compensation

4.

The Economics of Higher Purpose

ECGI - Finance Working Paper No. 395/2013
Number of pages: 50 Posted: 03 Dec 2013 Last Revised: 05 Dec 2013
Anjan V. Thakor and Robert E. Quinn
Washington University in St. Louis - John M. Olin Business School and University of Michigan, Stephen M. Ross School of Business
Downloads 2,486 (10,843)
Citation 15

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Higher purpose, budget constraints, wealth maximization

5.
Downloads 2,156 (13,645)
Citation 178

Overconfidence, CEO Selection, and Corporate Governance

Journal of Finance, Vol. 63, No. 6, pp. 2737-2784, December 2008
Number of pages: 50 Posted: 13 Mar 2006 Last Revised: 12 Oct 2009
Anand M. Goel and Anjan V. Thakor
Stevens Institute of Technology and Washington University in St. Louis - John M. Olin Business School
Downloads 1,470 (24,270)
Citation 18

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Leadership, Chief Executive Officer, CEO, Overconfidence, Corporate Governance, Leadership, Selection, Sarbanes-Oxley Act

Overconfidence, CEO Selection, and Corporate Governance

Journal of Finance, Forthcoming
Number of pages: 67 Posted: 31 Aug 2007
Anjan V. Thakor and Anand M. Goel
Washington University in St. Louis - John M. Olin Business School and Stevens Institute of Technology
Downloads 686 (70,794)
Citation 24

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Leadership, Overconfidence, CEO, Chief Executive Officer, Corporate Governance, Tournament

6.

P2P Lenders versus Banks: Cream Skimming or Bottom Fishing?

SAFE Working Paper No. 206, Michael J. Brennan Irish Finance Working Paper Series Research Paper No. 18-13
Number of pages: 86 Posted: 08 May 2018 Last Revised: 08 Oct 2021
Calebe de Roure, Loriana Pelizzon and Anjan V. Thakor
Reserve Bank of Australia, Goethe University Frankfurt - Faculty of Economics and Business Administration and Washington University in St. Louis - John M. Olin Business School
Downloads 2,015 (15,136)
Citation 33

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P2P lending, bank lending, competition

Which Have Been the Most Research-Productive Finance Departments in the Past Twenty Years?

Number of pages: 9 Posted: 10 Nov 2021 Last Revised: 17 Nov 2021
Yakshup Chopra, Rodrigo Moser and Anjan V. Thakor
University of Miami - Department of Finance, Amazon.com, Inc. and Washington University in St. Louis - John M. Olin Business School
Downloads 1,581 (21,731)

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Finance Rankings, Finance Departments, Global Rankings, Author Rankings, Journal Publications, Business Research.

8.

Rationality, Overconfidence and Leadership

Number of pages: 50 Posted: 09 Oct 2000
Anjan V. Thakor and Anand M. Goel
Washington University in St. Louis - John M. Olin Business School and Stevens Institute of Technology
Downloads 1,682 (20,108)
Citation 16

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Commercial Banking and Shadow Banking: The Accelerating Integration of Banks and Markets and Its Implications for Regulation

Oxford Handbook of Banking, 2nd edition, August 2013, Washington University, Saint Louis - John M. Olin School of Business Working Paper No. 13/005
Number of pages: 46 Posted: 01 Sep 2013 Last Revised: 20 Nov 2013
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 1,070 (38,599)

Abstract:

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Relationship banking, financial markets, integration, shadow banking, regulation

Commercial Banking and Shadow Banking: The Accelerating Integration of Banks and Markets and Its Implications for Regulation

The Oxford Handbook of Banking, Third Edition, 2018/19 Forthcoming
Number of pages: 59 Posted: 12 Jan 2018 Last Revised: 01 Mar 2019
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 449 (119,860)
Citation 10

Abstract:

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commercial banking, shadow banking, PE firms, credit rating agencies

Commercial Banking and Shadow Banking: The Accelerating Integration of Banks And Markets and its Implications for Regulation

Number of pages: 59 Posted: 12 Feb 2020
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 66 (636,783)

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financial markets, banks, blurring boundaries

10.

Bank Capital and Financial Stability: An Economic Tradeoff or a Faustian Bargain?

Forthcoming, Annual Review of Financial Economics, ECGI - Finance Working Paper No. 386
Number of pages: 76 Posted: 19 Oct 2013 Last Revised: 09 Apr 2014
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 1,374 (27,292)
Citation 29

Abstract:

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capital structure, banking and regulation of financial institutions, financial crisis

11.

Signaling, Free Cash Flow, and 'Nonmonotonic' Dividends

Number of pages: 37 Posted: 30 Nov 2002
Kathleen P. Fuller and Anjan V. Thakor
University of Mississippi - School of Business Administration and Washington University in St. Louis - John M. Olin Business School
Downloads 1,324 (28,793)
Citation 5

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12.

Expansion of Banking Scale and Scope: Don't Banks Know the Value of Focus?

London Business School WP No. LBS-IFA 275-1998
Number of pages: 29 Posted: 13 Aug 1998
Arnoud W. A. Boot, Anjan V. Thakor and Todd T. Milbourn
University of Amsterdam - Amsterdam Business School, Washington University in St. Louis - John M. Olin Business School and Washington University in Saint Louis - Olin Business School
Downloads 1,297 (29,725)
Citation 7

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13.

Fintech and Banking: What Do We Know?

Journal of Financial Intermediation, 2019
Number of pages: 46 Posted: 02 Aug 2019
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 1,270 (30,661)
Citation 18

Abstract:

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fintech, cryptocurrencies, P2P lending, banking, systemic risk

14.

Why Do Firms Issue Equity

Journal of Finance, Vol. 62, No. 1, February 2007, Ross School of Business Paper No. 1019
Number of pages: 64 Posted: 19 Oct 2005
Amy K. Dittmar and Anjan V. Thakor
University of Michigan at Ann Arbor - The Stephen M. Ross School of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 1,266 (30,802)
Citation 11

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equity issue, capital structure, market timing, differerence of opinion, flexibility

15.

Why Do Firms Smooth Earnings?

Number of pages: 55 Posted: 11 Jul 2000
Anand M. Goel and Anjan V. Thakor
Stevens Institute of Technology and Washington University in St. Louis - John M. Olin Business School
Downloads 989 (43,869)
Citation 13

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Financial System Architecture and the Co-Evolution of Banks and Capital Markets

Third Singapore International Conference on Finance 2009
Number of pages: 40 Posted: 30 Jan 2006 Last Revised: 22 Jul 2009
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 630 (78,889)
Citation 6

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Financial System Architecture, Bank Evolution, Capital Market Evolution

Financial System Architecture and the Co-Evolution of Banks and Capital Markets

The Economic Journal, Forthcoming
Number of pages: 41 Posted: 05 Sep 2009 Last Revised: 29 Jan 2010
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 235 (240,896)
Citation 20

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17.

The Optimal Duration of Executive Compensation: Theory and Evidence

AFA 2012 Chicago Meetings Paper
Number of pages: 43 Posted: 10 Aug 2010 Last Revised: 09 Jan 2013
Washington University in St. Louis - John M. Olin Business School, Washington University in Saint Louis - Olin Business School, Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 862 (53,048)
Citation 12

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Executive Compensation, Vesting, Duration, Managerial Myopia, Corporate Governance

Market Liquidity, Investor Participation and Managerial Autonomy: Why Do Firms Go Private?

ECGI Finance Working Paper No. 119/2006
Number of pages: 54 Posted: 02 Apr 2006
University of Amsterdam - Amsterdam Business School, Washington University in St. Louis - John M. Olin Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 443 (121,798)
Citation 1

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Managerial autonomy, liquidity, ownership, investor participation, firm participation

Market Liquidity, Investor Participation and Managerial Autonomy: Why Do Firms Go Private?

Journal of Finance 63-4, August 2008, 2013-2059
Number of pages: 40 Posted: 23 Mar 2007 Last Revised: 12 Oct 2009
University of Amsterdam - Amsterdam Business School, Washington University in St. Louis - John M. Olin Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 356 (156,554)
Citation 1

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Going Private, Public vs Private Ownership, Corporate Governance, Investor Participation

Market Liquidity, Investor Participation and Managerial Autonomy: Why Do Firms Go Private?

CEPR Discussion Paper No. 5510
Number of pages: 52 Posted: 02 Jun 2006
University of Amsterdam - Amsterdam Business School, Washington University in St. Louis - John M. Olin Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 17 (1,019,745)
Citation 6
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Corporate finance

19.

Corporate Finance, Financial Intermediation and Banking: An Overview

CORPORATE FINANCE, FINANCIAL INTERMEDIATION AND BANKING: AN OVERVIEW, Arnoud Boot, Anjan Thakor, eds., Elsevier, Forthcoming, Amsterdam Center for Law & Economics Working Paper No. 2007-07
Number of pages: 11 Posted: 19 Sep 2007 Last Revised: 30 Mar 2011
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 770 (61,786)
Citation 1

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20.

Liquidity Risk, Credit Risk and Interbank Competition

Number of pages: 49 Posted: 28 Nov 2008
Jian Cai and Anjan V. Thakor
Washington University in St. Louis and Washington University in St. Louis - John M. Olin Business School
Downloads 750 (63,995)
Citation 4

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21.

Fifty Years Since Modigliani and Miller: Is Capital Structure Really Relevant for Firm Value?

Number of pages: 41 Posted: 25 Feb 2011
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 711 (68,553)
Citation 1

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Go Public or Stay Private: A Theory of Entrepreneurial Choice

Boot-Gopalan-Thakor Working Paper No. 08-03
Number of pages: 33 Posted: 10 Oct 2003
University of Amsterdam - Amsterdam Business School, Washington University in St. Louis - John M. Olin Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 662 (74,114)
Citation 2

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managerial autonomy, cost of capital, entrepreneur/manager's choice between private and public ownership, autonomy, optimum management

Go Public or Stay Private: A Theory of Entrepreneurial Choice

Number of pages: 39 Posted: 26 Feb 2004
University of Amsterdam - Amsterdam Business School, Washington University in St. Louis - John M. Olin Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 38 (818,728)
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Ownership structures, stockmarket listing

23.

Bank Loan Commitment Contracts: Data, Theory, and Tests

J. OF MONEY, CREDIT AND BANKING, Vol. 29 No. 4, Part 1, November 1997
Number of pages: 31 Posted: 08 Jul 1997
Richard L. Shockley and Anjan V. Thakor
Indiana University - Kelley School of Business - Department of Finance and Washington University in St. Louis - John M. Olin Business School
Downloads 687 (71,648)
Citation 27

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24.

Duration of Executive Compensation

Journal of Finance, Forthcoming
Number of pages: 50 Posted: 09 Jan 2013
Washington University in St. Louis - John M. Olin Business School, Washington University in Saint Louis - Olin Business School, Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 661 (75,275)
Citation 64

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executive compensation, vesting, duration, managerial myopia, corporate governance

25.

The Accelerating Integration of Banks and Markets and its Implications for Regulation

Oxford Handbook of Banking, Forthcoming, Amsterdam Center for Law & Economics Working Paper No. 2008-02
Number of pages: 51 Posted: 19 Mar 2008 Last Revised: 30 Mar 2011
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 643 (77,941)

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Caught between Scylla and Charybdis? Regulating Bank Leverage When There is Rent Seeking and Risk Shifting

AFA 2012 Chicago Meetings Paper, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 365/2013
Number of pages: 54 Posted: 15 Mar 2011 Last Revised: 09 Oct 2015
New York University (NYU) - Leonard N. Stern School of Business, Independent and Washington University in St. Louis - John M. Olin Business School
Downloads 465 (114,975)
Citation 2

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market discipline, asset substitution, systemic risk, bailout, forbearance, moral hazard, capital requirements

Caught between Scylla and Charybdis? Regulating Bank Leverage When There is Rent-Seeking and Risk-Shifting

FRB of Cleveland Working Paper No. 10-24
Number of pages: 48 Posted: 16 Dec 2010 Last Revised: 18 Sep 2015
New York University (NYU) - Leonard N. Stern School of Business, Independent and Washington University in St. Louis - John M. Olin Business School
Downloads 152 (357,500)
Citation 1

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Market Discipline, Asset Substitution, Systemic Risk, Bailout, Forbearance, Moral Hazard, Capital Requirements

Caught between Scylla and Charybdis? Regulating Bank Leverage When There is Rent-Seeking and Risk-Shifting

CEPR Discussion Paper No. DP8822
Number of pages: 59 Posted: 01 Mar 2012
New York University (NYU) - Leonard N. Stern School of Business, Independent and Washington University in St. Louis - John M. Olin Business School
Downloads 11 (1,085,775)
Citation 9
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asset substitution, bailout, market discipline, systemic risk

27.

Credit Ratings and Litigation Risk

Number of pages: 39 Posted: 21 Mar 2011
Anand M. Goel and Anjan V. Thakor
Stevens Institute of Technology and Washington University in St. Louis - John M. Olin Business School
Downloads 620 (81,552)
Citation 22

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Credit Ratings Agencies, Cheap Talk

28.

Shareholder-Manager Disagreement, Animal Spirits, and Corporate Investment

Number of pages: 54 Posted: 16 Aug 2006
Toni M. Whited and Anjan V. Thakor
University of Michigan, Department of Economics and Washington University in St. Louis - John M. Olin Business School
Downloads 567 (91,193)
Citation 3

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Disagreement, Investment, Stock Price, Financial Flexibility, Managerial Entrenchment

29.

The Dark Side of Liquidity Creation: Leverage and Systemic Risk

Journal of Financial Intermediation, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 445/2015
Number of pages: 66 Posted: 18 Dec 2014 Last Revised: 28 Jun 2017
Viral V. Acharya, Viral V. Acharya and Anjan V. Thakor
New York University (NYU) - Leonard N. Stern School of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 557 (93,271)
Citation 54

Abstract:

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micro-prudential regulation, macroprudential regulation, market discipline, contagion, lender of last resort, bailouts, capital requirements

30.
Downloads 542 (96,566)
Citation 3

Higher Purpose, Incentives and Economic Performance

European Corporate Governance Institute – Finance Working Paper 706/2020
Number of pages: 59 Posted: 08 May 2019 Last Revised: 30 Oct 2020
Anjan V. Thakor and Robert E. Quinn
Washington University in St. Louis - John M. Olin Business School and University of Michigan, Stephen M. Ross School of Business
Downloads 518 (101,009)
Citation 1

Abstract:

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Organizational performance, higher purpose, incentives, agency frictions

Higher Purpose, Incentives and Economic Performance

Number of pages: 41 Posted: 16 Jan 2023
Anjan V. Thakor and Robert E. Quinn
Washington University in St. Louis - John M. Olin Business School and University of Michigan, Stephen M. Ross School of Business
Downloads 24 (944,960)

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Organizational performance, higher purpose, Incentives, agency frictions

31.

Flexibility and Dividends

Number of pages: 50 Posted: 23 Nov 2003
Kathleen P. Fuller and Anjan V. Thakor
University of Mississippi - School of Business Administration and Washington University in St. Louis - John M. Olin Business School
Downloads 542 (96,566)

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32.

The Financial Crisis of 2007-09: Why Did It Happen and What Did We Learn?

Forthcoming, Review of Corporate Finance Studies
Number of pages: 66 Posted: 29 Dec 2013 Last Revised: 31 Mar 2015
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 531 (99,051)
Citation 12

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Financial crises, real effects, policy responses, and regulation

The Carrot and the Stick: Bank Bailouts and the Disciplining Role of Board Appointments

SAFE Working Paper No. 316
Number of pages: 82 Posted: 08 Jul 2021 Last Revised: 08 Nov 2023
Leibniz Institute for Financial Research SAFE, Goethe University Frankfurt - Faculty of Economics and Business Administration, Tilburg University - Department of Finance and Washington University in St. Louis - John M. Olin Business School
Downloads 240 (235,949)

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Bank Bailout, TARP, Capital Purchase Program, Dividend Payments, Board Appointments, Bank Recapitalization

The Carrot and the Stick: Bank Bailouts and the Disciplining Role of Board Appointments

European Corporate Governance Institute – Finance Working Paper No. 742/2021
Number of pages: 47 Posted: 24 Mar 2021
Leibniz Institute for Financial Research SAFE, Goethe University Frankfurt - Faculty of Economics and Business Administration, Tilburg University - Department of Finance and Washington University in St. Louis - John M. Olin Business School
Downloads 208 (270,476)

Abstract:

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corporate governance, directors, bank bailouts

The Carrot and the Stick: Bank Bailouts and the Disciplining Role of Board Appointments

Olin Business School Center for Finance & Accounting Research Paper No. Forthcoming, Forthcoming, American Economic Journal: Policy
Number of pages: 80 Posted: 04 Dec 2023
Leibniz Institute for Financial Research SAFE, Goethe University Frankfurt - Faculty of Economics and Business Administration, Goethe University Frankfurt and Washington University in St. Louis - John M. Olin Business School
Downloads 57 (686,896)

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Bank Bailout, TARP, Capital Purchase Program, Dividend Payments, Board Appointments, Bank Recapitalization

34.
Downloads 499 (106,934)
Citation 26

Bank Culture

Number of pages: 40 Posted: 26 Feb 2016
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 281 (201,413)
Citation 5

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Bank culture, Multi-tasking problem, Competition, Bank capital, Safety nets

Bank Culture

Journal of Financial Intermediation, Forthcoming
Number of pages: 52 Posted: 14 Nov 2017
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 218 (258,793)
Citation 21

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Bank Culture, Growth, Safety, Competition, Bank Capital, Safety Nets

35.

Payout Policy Design

Number of pages: 51 Posted: 21 Jul 2003
Ralph Bachmann and Anjan V. Thakor
Nanyang Technological University (NTU) - Division of Banking & Finance and Washington University in St. Louis - John M. Olin Business School
Downloads 462 (117,193)

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Payout policy, security design, capital structure choice, cash dividends, asymmetric information, endogenous information acquisition, informed trading, noisy rational expectations

Disagreement and Flexibility: A Theory of Optimal Security Issuance and Capital Structure

Tinbergen Institute Discussion Paper No. 2003-001/2
Number of pages: 58 Posted: 16 Jun 2003
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 438 (123,470)
Citation 6

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Capital Structure, Security Issuance, Decision making

Disagreement and Flexibility: A Theory of Optimal Security Issuance and Capital Structure

Number of pages: 58 Posted: 07 Feb 2003
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 23 (955,174)
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Capital structure, decision-making, security issuance

37.

Financial Intermediation as a Beliefs-Bridge between Optimists and Pessimists

Journal of Financial Economics, Forthcoming, HBS Finance Working Paper No. 04-024
Number of pages: 51 Posted: 21 May 2004
Joshua D. Coval and Anjan V. Thakor
Harvard Business School - Finance Unit and Washington University in St. Louis - John M. Olin Business School
Downloads 440 (124,098)
Citation 13

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Financial intermediation, optimism, pessimism

38.

Managerial Career Concerns and Project Cycle Time in Capital Budgeting

Number of pages: 29 Posted: 26 Feb 1999
Todd T. Milbourn, Anjan V. Thakor and Richard L. Shockley
Washington University in Saint Louis - Olin Business School, Washington University in St. Louis - John M. Olin Business School and Indiana University - Kelley School of Business - Department of Finance
Downloads 438 (124,781)

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The Highs and the Lows: A Theory of Credit Risk Assessment and Pricing Through the Business Cycle

Journal of Financial Intermediation, Forthcoming
Number of pages: 48 Posted: 31 May 2015 Last Revised: 11 Jun 2015
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 273 (207,399)
Citation 15

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financial crisis, learning, skill, luck

The Highs and the Lows: A Theory of Credit Risk Assessment and Pricing through the Business Cycle

Number of pages: 44 Posted: 16 Feb 2015
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 150 (361,353)
Citation 2

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financial crisis, learning, skill, luck

40.

The Effect of Creditor Rights on Bank Monitoring, Capital Structure and Risk-Taking

ECGI - Finance Working Paper No. 387, Wells Fargo Advisors Center for Finance and Accounting Research Working Paper No. 13/003
Number of pages: 47 Posted: 09 Aug 2013 Last Revised: 12 Nov 2013
Simon Business School, University of RochesterUniversity of Rochester - Simon Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 420 (130,983)
Citation 3

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bank capital, bank monitoring, creditor rights, deposit insurance

41.

The Structure of Banker's Pay

Fisher College of Business Working Paper No. 2016-03-12, Charles A. Dice Center Working Paper No. 2016-12
Number of pages: 43 Posted: 15 Jun 2016 Last Revised: 23 Aug 2016
Tulane University - A.B. Freeman School of Business, Washington University in St. Louis - John M. Olin Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 414 (133,207)
Citation 5

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Executive compensation, corporate governance, finance industry, TARP

Information Disclosure and Fundamental Disagreement: Implications for Financial and Non-Financial Firms

Number of pages: 60 Posted: 18 Mar 2012
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 225 (251,223)

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disagreement, information disclosure, transparency and fragility in banking

Information Disclosure When There is Fundamental Disagreement

ECGI - Finance Working Paper No. 366/2013
Number of pages: 53 Posted: 09 Mar 2012 Last Revised: 27 Jun 2013
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 188 (296,728)
Citation 1

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43.
Downloads 376 (148,474)
Citation 4

Correlated Leverage and Its Ramifications

Number of pages: 49 Posted: 18 Mar 2009 Last Revised: 18 Mar 2014
Anand M. Goel, Fenghua Song and Anjan V. Thakor
Stevens Institute of Technology, Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 317 (177,354)

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Housing Market, Collateral, Bank Leverage, Borrower Leverage

Correlated Leverage and Its Ramifications

Journal of Financial Intermediation, Forthcoming
Number of pages: 51 Posted: 05 Aug 2014 Last Revised: 30 Oct 2014
Anand M. Goel, Fenghua Song and Anjan V. Thakor
Stevens Institute of Technology, Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 59 (675,258)
Citation 2

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leverage, high house prices, financial fragility, bank capital

44.

Post-Crisis Corporate Culture and Governance in Banking

European Corporate Governance Institute – Finance Working Paper No. 658/2020
Number of pages: 20 Posted: 06 Jun 2019 Last Revised: 17 Feb 2020
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 374 (149,352)
Citation 1

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financial crises, bank regulation, corporate governance, compensation, bank culture

Relationship Banking, Fragility and the Asset-Liability Matching Problem

Review of Financial Studies, Forthcoming
Number of pages: 50 Posted: 08 Aug 2006
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 366 (151,818)
Citation 12

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Relationship Banking, Fragility, and the Asset-Liability Matching Problem

The Review of Financial Studies, Vol. 20, Issue 6, pp. 2129-2177, 2007
Posted: 25 Jun 2008
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School

Abstract:

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G21, G28, D82, D86

46.
Downloads 365 (153,497)

Do Envious CEOs Cause Merger Waves?

Review of Financial Studies, Forthcoming
Number of pages: 48 Posted: 15 Mar 2005 Last Revised: 20 Jun 2008
Anjan V. Thakor and Anand M. Goel
Washington University in St. Louis - John M. Olin Business School and Stevens Institute of Technology
Downloads 365 (152,292)
Citation 9

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Merger Waves, CEOs, Envy

Do Envious CEOs Cause Merger Waves?

The Review of Financial Studies, Vol. 23, Issue 2, pp. 487-517, 2009
Posted: 01 Feb 2010
Anand M. Goel and Anjan V. Thakor
Stevens Institute of Technology and Washington University in St. Louis - John M. Olin Business School

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47.

Market Liquidity, Managerial Autonomy and the Push for Privacy: Why Do Publicly-Listed Firms Delist?

Amsterdam Center for Law & Economics Working Paper No. 2005-01
Number of pages: 51 Posted: 17 Mar 2005
University of Amsterdam - Amsterdam Business School, Washington University in St. Louis - John M. Olin Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 359 (156,322)
Citation 2

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Public and private ownership, shareholder stability, managerial autonomy, market liquidity

48.

Higher Purpose, the Greater Good and Finance

European Corporate Governance Institute – Finance Working Paper No. 824/2022, Olin Business School Center for Finance & Accounting Research Paper No. 2022/01
Number of pages: 58 Posted: 02 May 2022 Last Revised: 13 Jun 2022
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 354 (158,733)
Citation 1

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higher purpose, prosocial corporate behavior, corporate governance, banking, financial literacy

49.

Sunflower Management and Capital Budgeting

Tinbergen Institute Working Paper No. 2002-059/2
Number of pages: 39 Posted: 12 Nov 2002
Arnoud W. A. Boot, Anjan V. Thakor and Todd T. Milbourn
University of Amsterdam - Amsterdam Business School, Washington University in St. Louis - John M. Olin Business School and Washington University in Saint Louis - Olin Business School
Downloads 344 (163,747)
Citation 2

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Capital budgeting

50.

Household Debt and Unemployment

Journal of Finance, Forthcoming
Number of pages: 34 Posted: 17 Jul 2018
Washington University in St. Louis, Columbia University and Washington University in St. Louis - John M. Olin Business School
Downloads 334 (168,961)
Citation 7

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household debt, limited liability, employment, financial regulation

51.

Who Monitors the Monitor? Bank Capital Structure and Borrower Monitoring

Simon Business School Working Paper No. FR 15-11
Number of pages: 59 Posted: 14 Dec 2014
Simon Business School, University of RochesterUniversity of Rochester - Simon Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 334 (168,961)
Citation 6

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Bank capital, bank monitoring, creditor rights, bank leverage

52.

Ethics, Culture and Higher Purpose in Banking: Post-Crisis Governance Developments

International Journal of Central Banking
Number of pages: 33 Posted: 20 Apr 2020 Last Revised: 18 Sep 2020
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 328 (172,307)

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corporate governance, ethics, culture , higher purpose

53.

Killing the Bearer of Ill Tidings: A Theory of Consensus-Provision Moral Hazard

IFA Working Paper 274-1998
Number of pages: 42 Posted: 26 Feb 1999
Arnoud W. A. Boot, Anjan V. Thakor and Todd T. Milbourn
University of Amsterdam - Amsterdam Business School, Washington University in St. Louis - John M. Olin Business School and Washington University in Saint Louis - Olin Business School
Downloads 323 (175,149)
Citation 3

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54.

How are Bankers Paid?

European Corporate Governance Institute – Finance Working Paper No. 660/2020, forthcoming, Review of Corporate Finance Studies
Number of pages: 38 Posted: 20 Jun 2019 Last Revised: 17 Feb 2021
Tulane University - A.B. Freeman School of Business, Washington University in St. Louis - John M. Olin Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 322 (175,748)
Citation 1

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Executive compensation, corporate governance, finance industry, TARP

The Post-Crisis Evolution of Banks and Markets: Introduction

Forthcoming, Journal of Financial Intermediation
Number of pages: 10 Posted: 19 Apr 2018
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 136 (391,044)

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crisis, banks, financial markets

The Post-Crisis Evolution of Banks and Markets: Introduction

Forthcoming, Journal of Financial Intermediation
Number of pages: 11 Posted: 20 Mar 2019 Last Revised: 01 Apr 2019
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 106 (473,378)

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The Post-Crisis Evolution of Banks and Markets: Introduction

Journal of Financial Intermediation, Volume 39, Pages 1-80 (July 2019)
Number of pages: 10 Posted: 03 Feb 2020
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 71 (611,627)

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banks, markets, financial crisis

56.

Do Agency Costs Matter for Optimal Capital Structure?

Number of pages: 46 Posted: 22 Mar 2009
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 307 (184,690)

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57.

Bank Capital and Value in the Cross Section

Review of Financial Studies, Forthcoming
Number of pages: 74 Posted: 14 Sep 2009 Last Revised: 15 Oct 2009
Hamid Mehran and Anjan V. Thakor
Independent and Washington University in St. Louis - John M. Olin Business School
Downloads 306 (185,348)
Citation 62

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bank capital, bank value, capital structure, regulation, acquisitions

58.

Investor Heterogeneity, Investor-Management Disagreement, and Share Repurchases

Review of Financial Studies 26(10), p2453-2491, 2013, ECGI - Finance Working Paper No. 367/2013
Number of pages: 64 Posted: 31 Mar 2013 Last Revised: 16 Dec 2014
Sheng Huang and Anjan V. Thakor
China Europe International Business School (CEIBS) and Washington University in St. Louis - John M. Olin Business School
Downloads 303 (187,280)
Citation 7

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stock repurchase, corporate payout, agreement, investor heterogeneity

59.
Downloads 297 (191,385)
Citation 11

Robust Capital Regulation

FRB of New York Staff Report No. 490
Number of pages: 22 Posted: 25 Apr 2011 Last Revised: 06 Jul 2011
New York University (NYU) - Leonard N. Stern School of Business, Independent, Oliver Wyman and Washington University in St. Louis - John M. Olin Business School
Downloads 286 (197,801)
Citation 15

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capital requirements, leverage, systemic risk

Robust Capital Regulation

CEPR Discussion Paper No. DP8792
Number of pages: 24 Posted: 31 Jan 2012
New York University (NYU) - Leonard N. Stern School of Business, Independent, Oliver Wyman and Washington University in St. Louis - John M. Olin Business School
Downloads 11 (1,085,775)
Citation 1
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capital requirements, leverage, market discipline, model risk, systemic risk

60.

Optimal Contracts When Agents Envy Each Other

Number of pages: 51 Posted: 16 Aug 2005
Anjan V. Thakor and Anand M. Goel
Washington University in St. Louis - John M. Olin Business School and Stevens Institute of Technology
Downloads 285 (199,719)
Citation 5

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Principal-Agent, Optimal Contracts, Envy, Corporate Governance

Managerial Autonomy, Allocation of Control Rights and Optimal Capital Structure

Amsterdam Center for Law & Economics Working Paper No. 2010-09
Number of pages: 56 Posted: 10 Sep 2010 Last Revised: 30 Mar 2011
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 171 (323,042)
Citation 11

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managerial autonomy, control rights, capital structure

Managerial Autonomy, Allocation of Control Rights and Optimal Capital Structure

Review of Financial Economics, 2011, First Published Online September 1, 2011
Number of pages: 52 Posted: 22 Feb 2011 Last Revised: 07 Sep 2011
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 108 (466,887)
Citation 1

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62.
Downloads 277 (205,531)

Funding Liquidity Creation by Banks

Number of pages: 23 Posted: 11 May 2022 Last Revised: 14 Feb 2023
Anjan V. Thakor and Edison G. Yu
Washington University in St. Louis - John M. Olin Business School and Federal Reserve Bank of Philadelphia
Downloads 250 (226,636)
Citation 1

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Funding Liquidity Creation by Banks

Number of pages: 26 Posted: 16 May 2023
Anjan V. Thakor and Edison G. Yu
Washington University in St. Louis - John M. Olin Business School and Federal Reserve Bank of Philadelphia
Downloads 27 (915,482)

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Funding Liquidity, Bank Deposits, Liquidity Creation

63.

Lending Booms, Smart Bankers and Financial Crises

American Economic Review, 2015 Forthcoming
Number of pages: 8 Posted: 01 Apr 2015
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 275 (207,084)
Citation 15

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financial crises, availability heuristic, bankers' skills

64.
Downloads 272 (209,384)
Citation 2

Disagreement Costs, Control and Corporate Finance

Number of pages: 53 Posted: 28 Oct 2010
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 143 (375,675)
Citation 3

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Disagreement Costs, Control and Corporate Finance

Number of pages: 46 Posted: 28 Nov 2008
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 129 (407,944)
Citation 1

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65.

Do Loan Commitments Cause Overlending?

Number of pages: 51 Posted: 17 Sep 2003
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 265 (214,929)
Citation 32

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Loan Commitments, Overlending

66.

Banking Stability, Reputational Rents, and the Stock Market: Should Bank Regulators Care About Stock Prices?

Number of pages: 50 Posted: 21 Dec 2001
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 265 (214,929)

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Banks and Financial Markets in a Digital Age

Oxford Handbook of Banking, (eds. Allen Berger, Phil Mullineaux and John Wilson), fourth edition, Forthcoming
Number of pages: 40 Posted: 30 Oct 2023
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 167 (329,769)

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BigTech, fintech, BigData, banks, financial markets, digital economy

Banks and Financial Markets in a Digital Age

Olin Business School Center for Finance & Accounting Research Paper No. Forthcoming, Oxford Handbook of Banking, (eds. Allen Berger, Phil Mullineaux and John Wilson), fourth edition, 2024.
Number of pages: 40 Posted: 05 Oct 2023
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 83 (557,372)

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Information Control, Career Concerns and Corporate Governance

Journal of Finance, No. 4, August 2006
Number of pages: 56 Posted: 08 Aug 2006
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 250 (226,636)
Citation 33

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Information Control, Career Concerns and Corporate Governance

Posted: 27 Apr 2005
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School

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69.
Downloads 248 (229,596)
Citation 3

Purpose, Profit and Social Pressure

European Corporate Governance Institute – Finance Working Paper No. 881/2023
Number of pages: 25 Posted: 12 Feb 2023
Fenghua Song, Anjan V. Thakor and Robert E. Quinn
Pennsylvania State University - Smeal College of Business, Washington University in St. Louis - John M. Olin Business School and University of Michigan, Stephen M. Ross School of Business
Downloads 132 (402,950)

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Higher purpose, Incentives, Labor market matching, Organizational performance

Purpose, Profit and Social Pressure

Journal of Financial Intermediation, Forthcoming, Olin Business School Center for Finance & Accounting Research Paper No. Forthcoming
Number of pages: 41 Posted: 20 Apr 2023
Fenghua Song, Anjan V. Thakor and Robert E. Quinn
Pennsylvania State University - Smeal College of Business, Washington University in St. Louis - John M. Olin Business School and University of Michigan, Stephen M. Ross School of Business
Downloads 116 (442,385)

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Higher purpose, Incentives, Labor market matching, Organizational performance

70.

Personal and Organizational Higher Purpose, Corporate Governance and Shareholder Value: Survey Results

European Corporate Governance Institute – Finance Working Paper No. 692/2020
Number of pages: 31 Posted: 27 Jul 2020 Last Revised: 29 Jul 2020
Stuart Bunderson and Anjan V. Thakor
Washington University in St. Louis and Washington University in St. Louis - John M. Olin Business School
Downloads 234 (242,930)
Citation 4

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higher purpose, corporate governance, shareholder value, personal well being.

71.

Evolution of Organizational Scale and Scope

Tinbergen Institute Working Paper No. 2002-060/2
Number of pages: 37 Posted: 11 Nov 2002
Arnoud W. A. Boot, Anjan V. Thakor and Todd T. Milbourn
University of Amsterdam - Amsterdam Business School, Washington University in St. Louis - John M. Olin Business School and Washington University in Saint Louis - Olin Business School
Downloads 234 (242,930)

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Organizational scale and scope

72.

Finance Research: What Are the New Frontiers?

Number of pages: 16 Posted: 23 May 2023 Last Revised: 02 Jun 2023
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 231 (245,856)

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Banking stability, Medicine and finance, Organizational higher purpose, Future research directions

The Economic Value of Flexibility When There is Disagreement

Tinbergen Institute Discussion Paper No. 2003-002/2
Number of pages: 50 Posted: 09 Jun 2003
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 199 (281,766)
Citation 6

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Managerial Decision Making, Corporate Finance

The Economic Value of Flexibility When There is Disagreement

Number of pages: 50 Posted: 11 Feb 2003
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 26 (925,274)
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Corporate finance, managerial decision-making

74.

Green with Envy: Implications for Corporate Investment Distortions

Number of pages: 47 Posted: 24 Sep 2003
Anjan V. Thakor and Anand M. Goel
Washington University in St. Louis - John M. Olin Business School and Stevens Institute of Technology
Downloads 218 (259,711)
Citation 7

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Incentives to Innovate and Financial Crises

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 58 Posted: 20 Mar 2011 Last Revised: 29 Oct 2014
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 215 (262,269)
Citation 23

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Financial innovation, disagreement, financial crises

Incentives to Innovate and Financial Crises

Posted: 28 Oct 2010 Last Revised: 25 Oct 2014
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School

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76.

Bank Regulation and Banking Stability

Number of pages: 47 Posted: 25 Sep 2014
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 211 (267,777)
Citation 1

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Bank regulation, career concerns, closure policy

77.

Higher Purpose, Corporate Culture and Governance in Banking

Number of pages: 14 Posted: 03 Feb 2020
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 210 (268,921)

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organizational higher purpose, ethics, corporate culture, banking

78.

Information Disclosure and Opinion Divergence

Number of pages: 43 Posted: 28 Oct 2010
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 201 (279,953)
Citation 1

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Politics, Credit Allocation and Bank Capital Requirements

Number of pages: 37 Posted: 02 Feb 2017
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 126 (415,370)

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politics, credit allocation, banking, financial fragility

Politics, Credit Allocation and Bank Capital Requirements

Number of pages: 36 Posted: 23 Nov 2016
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 70 (616,551)
Citation 2

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Politics, Bank Regualtion, Capital Requirements

80.

Prestige, Intrafirm Tournaments and Failure Aversion in Corporate Decisions

Working Paper No. 99-003
Number of pages: 29 Posted: 20 Aug 1999
Todd T. Milbourn, Anjan V. Thakor and Richard L. Shockley
Washington University in Saint Louis - Olin Business School, Washington University in St. Louis - John M. Olin Business School and Indiana University - Kelley School of Business - Department of Finance
Downloads 192 (291,842)
Citation 2

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81.

Post-Crisis Regulatory Reform in Banking: Address Insolvency Risk, Not Illiquidity!

Number of pages: 19 Posted: 05 Feb 2018
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 190 (294,590)
Citation 15

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liquidity risk, insolvency risk, post-crisis regulatory reform

82.

Leverage, Systemic Risk and Financial System Health: How Do We Develop a Healthy Financial System?

Financial System, Markets and Institutional Changes ( eds: Ted Linblom, Stefan Sjogren, and Magnus Willesson), Palgrave McMillan, Forthcoming
Number of pages: 15 Posted: 26 Dec 2013 Last Revised: 12 Jan 2014
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 185 (301,557)
Citation 2

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financial crises, leverage, systemic risk, healthy financial system

83.

Financial Crises and the Challenges for Future Research

Bancaria Special Issue No. 03-2010
Number of pages: 5 Posted: 12 May 2010
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 181 (307,477)

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Financial crisis, Infectious leverage, Financial innovation

84.

Notes on Financial System Development and Political Intervention

World Bank Economic Review, Forthcoming
Number of pages: 34 Posted: 24 Feb 2012 Last Revised: 30 Apr 2012
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 173 (320,028)

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financial system development, systemic risk, political intervention

85.

Robust Capital Regulation

Current Issues in Economics and Finance, Vol. 18, No. 4, 2012
Number of pages: 11 Posted: 30 May 2012
New York University (NYU) - Leonard N. Stern School of Business, Independent, Oliver Wyman and Washington University in St. Louis - John M. Olin Business School
Downloads 172 (321,631)
Citation 3

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Treasury, Supplementary Financing Program , Treasury General Account, Treasury Tax and Loan Note account, cash management , Supplementary Financing Program

86.

Why Are Credit Ratings Coarse?

Number of pages: 41 Posted: 26 Sep 2013
Anand M. Goel and Anjan V. Thakor
Stevens Institute of Technology and Washington University in St. Louis - John M. Olin Business School
Downloads 165 (333,363)
Citation 2

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credit ratings, coarseness, cheap talk, credit quality

87.

Ethics, Capital and Talent Competition in Banking

Journal of Financial Intermediation, Forthcoming
Number of pages: 51 Posted: 28 Mar 2019 Last Revised: 22 Feb 2022
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 158 (345,865)
Citation 4

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Ethics, Bank capital, Talent, Financial innovation

88.

Organizational Higher Purpose

Number of pages: 22 Posted: 18 Feb 2021
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 154 (353,418)

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higher purpose, organizations

89.

Can Information Imprecision Be Valuable? The Case Of Credit Ratings

Olin Business School Center for Finance & Accounting Research Paper No. Forthcoming
Number of pages: 36 Posted: 07 Jun 2022 Last Revised: 18 Dec 2023
Swarnava Biswas, Kostas Koufopoulos and Anjan V. Thakor
University of Bristol, University of York and Washington University in St. Louis - John M. Olin Business School
Downloads 151 (359,128)

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Credit ratings, Coarseness, Information precision, Adverse selection, Effort moral hazard

90.

Higher Purpose, Banking and Stability

European Corporate Governance Institute – Finance Working Paper No. 729/2021
Number of pages: 51 Posted: 23 Feb 2021 Last Revised: 14 Jan 2022
Stuart Bunderson and Anjan V. Thakor
Washington University in St. Louis and Washington University in St. Louis - John M. Olin Business School
Downloads 150 (361,083)
Citation 11

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higher purpose, banks, capital, financial stability

Higher Purpose, Employees and the Firm

European Corporate Governance Institute – Finance Working Paper No. 974/2024
Number of pages: 54 Posted: 15 Apr 2024
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 78 (578,945)

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organizational higher purpose, profits, layoff insurance

Higher Purpose, Employees and the Firm

Olin Business School Center for Finance & Accounting Research Paper No. Forthcoming
Number of pages: 35 Posted: 04 Dec 2023
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 45 (765,394)

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organizational higher purpose, profits, layoff insurance

HIGHER PURPOSE, EMPLOYEES AND THE FIRM

Number of pages: 35 Posted: 30 Nov 2023
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 25 (934,849)

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organizational higher purpose, profits, layoff insurance.

92.

Disagreement, the Value of Autonomy, and Incentive Contracting

Number of pages: 42 Posted: 06 Apr 2007
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 148 (365,023)

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93.

Notes on Financial System Development and Political Intervention

World Bank Policy Research Working Paper No. 6350
Number of pages: 36 Posted: 20 Apr 2016
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 146 (369,130)
Citation 1

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Access to Finance, Banks & Banking Reform, Debt Markets, Bankruptcy and Resolution of Financial Distress, Financial Intermediation

94.

Warehouse Banking

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 57 Posted: 19 Jun 2017
Jason Donaldson, Giorgia Piacentino and Anjan V. Thakor
Washington University in St. Louis, Columbia University and Washington University in St. Louis - John M. Olin Business School
Downloads 144 (373,178)
Citation 28

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warehousing, liquidity creation, bank capital, bank existence

95.

Strategic Information Disclosure When There is Fundamental Disagreement

Journal of Financial Intermediation, Forthcoming
Number of pages: 43 Posted: 26 Nov 2013 Last Revised: 28 Dec 2013
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 143 (375,179)
Citation 11

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corporate governance, corporate finance, executive compensation, information disclosure

96.

Banks, Markets, and the Color of Finance

European Corporate Governance Institute – Finance Working Paper No. 933/2023
Number of pages: 29 Posted: 25 Sep 2023 Last Revised: 17 Oct 2023
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 137 (387,931)

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Bank capital, Climate finance, Financial system, Financial stability

97.

Market Freeze and Bank Capital Structure Heterogeneity

Management Science
Number of pages: 42 Posted: 17 Sep 2020 Last Revised: 22 Feb 2022
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 137 (387,931)

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Market freeze, Bank capital, Information reusability, Short-term funding reallocation

98.

Information Reliability and Welfare: A Theory of Coarse Credit Ratings

Number of pages: 46 Posted: 24 May 2014
Anand M. Goel and Anjan V. Thakor
Stevens Institute of Technology and Washington University in St. Louis - John M. Olin Business School
Downloads 130 (404,266)
Citation 9

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credit ratings, coarseness, cheap talk, credit quality

99.

Competition, Innovation and Crises: Evidence from 18 Million Securitized Loans

Number of pages: 77 Posted: 09 Aug 2021 Last Revised: 30 Nov 2023
Peter H. Haslag, Kandarp Srinivasan and Anjan V. Thakor
Vanderbilt University - Finance, Northeastern University - D’Amore-McKim School of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 128 (409,120)
Citation 1

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securitization, competition, financial innovation, mortgage, financial crisis

100.

Political Influence, Bank Capital, and Credit Allocation

European Corporate Governance Institute – Finance Working Paper No. 864/2022 , Management Science, forthcoming
Number of pages: 36 Posted: 27 Dec 2022 Last Revised: 26 Feb 2024
Sheng Huang and Anjan V. Thakor
China Europe International Business School (CEIBS) and Washington University in St. Louis - John M. Olin Business School
Downloads 115 (443,237)
Citation 2

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Politics, bank regulation, capital requirements

101.

Liquidity, Solvency and Stability (Presentation Slides)

Proceedings of the 4th Chapman Conference on Money & Finance on Liquidity: Pricing, Management and Financial Stability
Number of pages: 35 Posted: 15 Jan 2020
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 111 (455,154)

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102.

Bank Capital, Loan Trading and Funding Liquidity Creation

Olin Business School Center for Finance & Accounting Research Paper No. 2022/03
Number of pages: 42 Posted: 20 Jul 2022 Last Revised: 11 Aug 2022
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 106 (470,481)

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Bank capital, Funding liquidity creation, Loan trading, Intervention, Central bank

103.

Bailout Addiction: Does Bailout Anticipation Induce Adverse Selection?

Number of pages: 39 Posted: 06 Feb 2023 Last Revised: 29 Aug 2023
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 104 (477,093)

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Adverse Selection, Market Freeze, Government Bailout

104.

Skill, Luck, and Financial Crises

Number of pages: 46 Posted: 17 May 2013 Last Revised: 20 Nov 2013
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 100 (489,954)
Citation 1

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financial crisis, learning, skill, luck

105.

Bank Credit and Unemployment

Number of pages: 55 Posted: 26 Aug 2015
Jason Donaldson, Giorgia Piacentino and Anjan V. Thakor
Washington University in St. Louis, Columbia University and Washington University in St. Louis - John M. Olin Business School
Downloads 99 (493,285)
Citation 2

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Purpose, Culture and Strategy in Banking

Number of pages: 23 Posted: 20 Sep 2023
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 55 (698,896)

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purpose, strategy, culture, banking

Purpose, Culture, and Strategy in Banking

Olin Business School Center for Finance & Accounting Research Paper No. Forthcoming
Posted: 05 Oct 2023
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 43 (780,146)

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107.

Pandemic Death Traps

Number of pages: 47 Posted: 09 Jun 2020
Anand M. Goel and Anjan V. Thakor
Stevens Institute of Technology and Washington University in St. Louis - John M. Olin Business School
Downloads 95 (506,830)
Citation 2

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pandemic, COVID-19, lockdown, shutdown, career concerns, emerging markets

108.

The Economic Consequences of Regulatory Protection & Extraterritorial Reach

Number of pages: 60 Posted: 23 May 2018
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 94 (510,283)
Citation 3

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109.

Household Debt Overhang and Unemployment

Forthcoming, Journal of Finance
Number of pages: 40 Posted: 14 Jan 2019
Washington University in St. Louis, Columbia University and Washington University in St. Louis - John M. Olin Business School
Downloads 82 (555,243)
Citation 18

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Household Debt, Limited Liability, Employment, Financial Regulation

110.

Disagreement-induced CEO Turnover

Forthcoming, Journal of Financial Intermediation
Number of pages: 55 Posted: 05 Feb 2019
Sheng Huang, Johan Maharjan and Anjan V. Thakor
China Europe International Business School (CEIBS), Rensselaer Polytechnic Institute (RPI) and Washington University in St. Louis - John M. Olin Business School
Downloads 73 (593,555)
Citation 13

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Investor-management disagreement, heterogeneous beliefs, CEO turnover, corporate governance

111.

The Illiquidity Fog

Number of pages: 45 Posted: 02 May 2019
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 57 (673,652)

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market freeze, bank capital, short-term funding reallocation

112.

Success-Driven Skill Inferences and Financial Crises

Number of pages: 55 Posted: 09 Mar 2012
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School
Downloads 56 (679,307)
Citation 1

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113.

The Role of Business: Positive Lens vs. Profit Maximizing

Number of pages: 11 Posted: 22 Nov 2022
University of Michigan, Stephen M. Ross School of Business, University of Michigan, Stephen M. Ross School of Business, Washington University in St. Louis - John M. Olin Business School, University of Michigan, Stephen M. Ross School of Business, University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 23 (926,072)

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positive business, value maximization

114.

Intermediation Variety

NBER Working Paper No. w25946
Number of pages: 54 Posted: 17 Jun 2019 Last Revised: 25 May 2023
Washington University in St. Louis, Columbia University and Washington University in St. Louis - John M. Olin Business School
Downloads 20 (955,887)
Citation 21

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115.

Does Securitization Increase Risk?: A Theory of Loan Securitization, Reputation, and Credit Screening

Posted: 08 Dec 2015 Last Revised: 19 May 2016
Felipe Cortes and Anjan V. Thakor
D'Amore-McKim School of Business-Northeastern University and Washington University in St. Louis - John M. Olin Business School

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Career Concerns, Pooling, Screening, Securitization, Systematic Risk

116.

Bank Capital and Financial Stability: An Economic Trade-Off or a Faustian Bargain?

Annual Review of Financial Economics, Vol. 6, pp. 185-223, 2014
Posted: 25 Nov 2014
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School

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117.

A Canonical Model of Disagreement and Moral Hazard with Applications

Posted: 12 Mar 2012 Last Revised: 01 Mar 2019
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School

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disagreement, moral hazard, control allocations

118.

Investor Heterogeneity, Investor-Management Agreement and Open-Market Share Repurchases

AFA 2013 San Diego Meetings Paper
Posted: 15 Mar 2010 Last Revised: 13 Nov 2013
Anjan V. Thakor and Sheng Huang
Washington University in St. Louis - John M. Olin Business School and China Europe International Business School (CEIBS)

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stock repurchase, corporate payout, agreement, investor heterogeneity

119.

The Value Sphere: The Corporate Executives' Handbook for Creating and Retaining Shareholder Wealth (4th Edition)

J. Boquist, T. Milbourn, A. Thakor, THE VALUE SPHERE: THE CORPORATE EXECUTIVES' HANDBOOK FOR CREATING AND RETAINING SHAREHOLDER WEALTH, World Scientific, 2009
Posted: 08 Sep 2009 Last Revised: 11 May 2014
John Boquist, Todd T. Milbourn and Anjan V. Thakor
Indiana University - Kelley School of Business - Department of Finance, Washington University in Saint Louis - Olin Business School and Washington University in St. Louis - John M. Olin Business School

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Growth Strategy, Corporate Finance, Mergers and Acquisitions, Value Creation, Capital Budgeting

120.

Corporate Control Through Board Dismissals and Takeovers

Journal of Economics and Management Strategy, Vol. 7, No. 4, pp. 489-520, 1998
Posted: 01 Dec 2008
David A. Hirshleifer and Anjan V. Thakor
Marshall School of Business, USC and Washington University in St. Louis - John M. Olin Business School

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121.

Managerial Conservatism, Project Choice and Debt

Review of Financial Studies, Vol. 5, No. 3, pp. 437-470, 1992
Posted: 01 Dec 2008
Anjan V. Thakor and David A. Hirshleifer
Washington University in St. Louis - John M. Olin Business School and Marshall School of Business, USC

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122.

Managerial Performance, Boards of Directors and Takeover Bidding

Journal of Corporate Finance, Vol. 1, No. 1, pp. 63-90, 1994
Posted: 01 Dec 2008
Anjan V. Thakor and David A. Hirshleifer
Washington University in St. Louis - John M. Olin Business School and Marshall School of Business, USC

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123.

The Entrepreneur's Choice between Private and Public Ownership

Posted: 21 Jan 2005
University of Amsterdam - Amsterdam Business School, Washington University in St. Louis - John M. Olin Business School and Washington University in St. Louis - John M. Olin Business School

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Ownership structure, control, corporate governance, private and public ownership

124.

Managerial Career Concerns and Investments in Information

Posted: 23 May 2001
Todd T. Milbourn, Anjan V. Thakor and Richard L. Shockley
Washington University in Saint Louis - Olin Business School, Washington University in St. Louis - John M. Olin Business School and Indiana University - Kelley School of Business - Department of Finance

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125.

The Many Faces of Information Disclosure

Posted: 22 Nov 2000
Arnoud W. A. Boot and Anjan V. Thakor
University of Amsterdam - Amsterdam Business School and Washington University in St. Louis - John M. Olin Business School

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126.

Contemporary Banking Theory

Posted: 26 Oct 1999
Sudipto Bhattacharya and Anjan V. Thakor
London School of Economics and Washington University in St. Louis - John M. Olin Business School

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127.

A Brief Retrospective and Prospective Look at the Journal of Financial Intermediation: 1990-98

Posted: 14 Feb 1999
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School

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128.

The Economics of Bank Regulation

Posted: 10 Aug 1998
London School of Economics, Washington University in St. Louis - John M. Olin Business School and University of Amsterdam - Amsterdam Business School

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129.

Capital Requirements, Monetary Policy, and Aggregate Bank Lending: Theory and Empirical Evidence

J. OF FINANCE, Vol. 51 No. 1, March 1996
Posted: 28 Jun 1998
Anjan V. Thakor
Washington University in St. Louis - John M. Olin Business School

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130.

A Rationale for the Functional Separation of Qualitative Asset Transformation Services in Banking

Posted: 19 Apr 1998
Stephen R. Peters and Anjan V. Thakor
Kansas State University - Department of Finance and Washington University in St. Louis - John M. Olin Business School

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Other Papers (1)

Total Downloads: 69
1.

Intrinsically-Motivated CEOs, Overbearing Boards, and Diversity in Corporate Governance

Number of pages: 40 Posted: 25 Mar 2008
Fenghua Song and Anjan V. Thakor
Pennsylvania State University - Smeal College of Business and Washington University in St. Louis - John M. Olin Business School
Downloads 69

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Corporate Governance, Oversight, Intrinsic Motivation