Thomas Ruchti

Government of the United States of America - Office of Financial Research

717 14th Street, NW

Washington DC, DC 20005

United States

  • Government of the United States of America - Office of Financial Research

SCHOLARLY PAPERS

29

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Top 9,636

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147

CROSSREF CITATIONS

31

Scholarly Papers (29)

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1.

How do Firms Respond to Political Uncertainty? Evidence from U.S. Gubernatorial Elections

Number of pages: 53 Posted: 16 Jun 2017 Last Revised: 21 Mar 2023
Andrew Bird, Stephen A. Karolyi and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, Office of the Comptroller of the Currency and Government of the United States of America - Office of Financial Research
Downloads 1,393 (27,572)
Citation 34

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political uncertainty, real activity, voluntary disclosure

2.

First Impression Bias: Evidence from Analyst Forecasts

Review of Finance, Forthcoming
Number of pages: 56 Posted: 23 Apr 2019 Last Revised: 26 May 2024
David Hirshleifer, Ben Lourie, Thomas Ruchti and Phong Truong
University of Southern California - Marshall School of Business - Finance and Business Economics Department, University of California, Irvine, Government of the United States of America - Office of Financial Research and Pennsylvania State University
Downloads 1,264 (31,837)
Citation 2

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First Impressions, Equity Analysts, Behavioral Finance

3.

Taxes and Peer Effects

Rotman School of Management Working Paper No. 2714468
Number of pages: 49 Posted: 14 Jan 2016 Last Revised: 29 Oct 2017
Andrew Bird, Alexander Edwards and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, University of Toronto - Rotman School of Management and Government of the United States of America - Office of Financial Research
Downloads 949 (47,884)
Citation 29

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effective tax rates, peer effects, taxes

4.

Supervisory Sentiment: Evidence from Stress Test Disclosures

Number of pages: 57 Posted: 03 Jul 2015 Last Revised: 09 Mar 2023
Andrew Bird, Stephen A. Karolyi and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, Office of the Comptroller of the Currency and Government of the United States of America - Office of Financial Research
Downloads 845 (56,149)
Citation 8

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regulatory disclosure, stress tests, CCAR, financial institutions

5.

The Impact of Information Frictions Within Regulators: Evidence from Workplace Safety Violations

Forthcoming, Journal of Accounting Research
Number of pages: 71 Posted: 28 Apr 2021 Last Revised: 21 Mar 2024
Aneesh Raghunandan and Thomas Ruchti
Yale School of Management and Government of the United States of America - Office of Financial Research
Downloads 725 (68,849)

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internal information, information frictions, OSHA, workplace safety, decentralization

6.

Short-Termism Spillovers from the Financial Industry

Number of pages: 63 Posted: 26 Oct 2016 Last Revised: 05 Jul 2019
Andrew Bird, Aytekin Ertan, Stephen A. Karolyi and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, London Business School, Office of the Comptroller of the Currency and Government of the United States of America - Office of Financial Research
Downloads 700 (72,072)
Citation 2

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lending, short-termism, covenants, monitoring, spillovers, real effects

7.

Understanding the 'Numbers Game'

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 61 Posted: 18 Mar 2016 Last Revised: 16 Jul 2019
Andrew Bird, Stephen A. Karolyi and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, Office of the Comptroller of the Currency and Government of the United States of America - Office of Financial Research
Downloads 657 (78,114)
Citation 10

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earnings management, managerial myopia, structural estimation, financial reporting

8.

The Night and Day of Amihud's (2002) Liquidity Measure

The Review of Asset Pricing Studies 11 (2), 269-308
Number of pages: 57 Posted: 26 Feb 2019 Last Revised: 21 Feb 2024
Yashar H. Barardehi, Dan Bernhardt, Thomas Ruchti and Marc Weidenmier
Chapman University - The George L. Argyros College of Business and Economics, University of Illinois at Urbana-Champaign - Department of Economics, Government of the United States of America - Office of Financial Research and Claremont McKenna College - Robert Day School of Economics and Finance
Downloads 563 (94,900)
Citation 18

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Amihud (2002), Liquidity Premia, Overnight Returns, Non-synchronous Trading

9.

Payment Timeliness and Firm Performance

Number of pages: 41 Posted: 23 Dec 2018 Last Revised: 03 Jul 2022
David Hirshleifer, Yifan Li, Ben Lourie and Thomas Ruchti
University of Southern California - Marshall School of Business - Finance and Business Economics Department, San Francisco State University, University of California, Irvine and Government of the United States of America - Office of Financial Research
Downloads 527 (103,041)
Citation 1

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trade credit, non-bank lending, customer–supplier relationships, stock returns, private information, supply chain

10.

Information, Financing, and Investment

Number of pages: 58 Posted: 12 Jan 2018 Last Revised: 09 Jul 2020
Andrew Bird, Aytekin Ertan, Stephen A. Karolyi and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, London Business School, Office of the Comptroller of the Currency and Government of the United States of America - Office of Financial Research
Downloads 510 (107,229)
Citation 1

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capital markets regulation, capital allocation, financing, investment

11.

Are Short Selling Restrictions Effective?

Number of pages: 64 Posted: 19 Mar 2019 Last Revised: 02 Feb 2023
Yashar H. Barardehi, Andrew Bird, Stephen A. Karolyi and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, Chapman University - The George L. Argyros College of Business and Economics, Office of the Comptroller of the Currency and Government of the United States of America - Office of Financial Research
Downloads 506 (108,278)
Citation 5

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short selling, uptick rule, securities regulation, Rule 201, short selling restrictions

12.

More is Less: Publicizing Information and Market Feedback

Review of Finance, Forthcoming
Number of pages: 51 Posted: 05 Aug 2020 Last Revised: 23 Oct 2021
Andrew Bird, Stephen A. Karolyi, Thomas Ruchti and Phong Truong
Chapman University - The George L. Argyros College of Business and Economics, Office of the Comptroller of the Currency, Government of the United States of America - Office of Financial Research and Pennsylvania State University
Downloads 445 (126,124)
Citation 1

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EDGAR, real effects of financial markets, price efficiency, price informativeness, information acquisition, SEC regulation, information technology

13.

External Governance and Internal Resource Allocation

Number of pages: 45 Posted: 27 Feb 2017 Last Revised: 05 Jul 2019
James F. Albertus, Andrew Bird, Stephen A. Karolyi and Thomas Ruchti
Carnegie Mellon University - David A. Tepper School of Business, Chapman University - The George L. Argyros College of Business and Economics, Office of the Comptroller of the Currency and Government of the United States of America - Office of Financial Research
Downloads 414 (137,157)
Citation 3

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external governance, investment, internal capital markets

14.

Lender Forbearance

Number of pages: 46 Posted: 30 Jun 2017
Andrew Bird, Aytekin Ertan, Stephen A. Karolyi and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, London Business School, Office of the Comptroller of the Currency and Government of the United States of America - Office of Financial Research
Downloads 406 (140,305)
Citation 4

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contract enforcement, financial covenants, credit cycles, external financing, reputation, creditor coordination

15.

Regulating Information

Number of pages: 50 Posted: 19 Oct 2016 Last Revised: 11 Nov 2017
Andrew Bird, Stephen A. Karolyi and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, Office of the Comptroller of the Currency and Government of the United States of America - Office of Financial Research
Downloads 342 (169,675)
Citation 1

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political economy of regulation, financial markets, asymmetric information, cost of capital, capital allocation

16.

Do Lenders Have Favorite Auditors?

Number of pages: 45 Posted: 30 Jun 2017 Last Revised: 03 Jul 2019
Andrew Bird, Stephen A. Karolyi and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, Office of the Comptroller of the Currency and Government of the United States of America - Office of Financial Research
Downloads 319 (182,740)

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Enders, Auditor Choice, Financial Statement Verification, Contracting Efficiency, Matching

17.

The Burden of Being Public: Evidence from Local Labor Markets

Number of pages: 65 Posted: 08 Aug 2017 Last Revised: 05 Jul 2019
Andrew Bird, Stephen A. Karolyi and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, Office of the Comptroller of the Currency and Government of the United States of America - Office of Financial Research
Downloads 318 (183,380)

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initial public offerings, labor demand, compliance costs, regulation, Sarbanes-Oxley Act, JOBS Act

18.

Does Context Matter for Information Transfer?

Number of pages: 45 Posted: 20 Mar 2023
Andrew Bird, Stephen A. Karolyi, Thomas Ruchti and Phong Truong
Chapman University - The George L. Argyros College of Business and Economics, Office of the Comptroller of the Currency, Government of the United States of America - Office of Financial Research and Pennsylvania State University
Downloads 237 (247,329)

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context, information processing, EDGAR, market efficiency

19.

Market Power and the Profitability of Limit-Order Trading

Number of pages: 61 Posted: 19 Apr 2015 Last Revised: 17 Mar 2019
Thomas Ruchti
Government of the United States of America - Office of Financial Research
Downloads 235 (249,305)

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imperfect competition, market microstructure, high frequency trading, limit order book

20.

Managerial Discretion, Matching, and the Market

Number of pages: 51 Posted: 17 Dec 2015 Last Revised: 05 Jul 2019
Andrew Bird and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics and Government of the United States of America - Office of Financial Research
Downloads 214 (272,327)

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managerial discretion, matching, value relevance, financial reporting

21.

The Value of Lending Relationships

Number of pages: 60 Posted: 07 Sep 2022 Last Revised: 09 Mar 2023
Andrew Bird, Michael G. Hertzel, Stephen A. Karolyi and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, Arizona State University (ASU) - Finance Department, Office of the Comptroller of the Currency and Government of the United States of America - Office of Financial Research
Downloads 190 (303,724)
Citation 2

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syndicated lending, financial covenants, lending relationships, intangible capital

22.

A Test of Speculative Arbitrage: Is the Cross-section of Volatility Invariant?

Number of pages: 38 Posted: 15 Jun 2017 Last Revised: 04 Jul 2019
Yashar H. Barardehi, Dan Bernhardt and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, University of Illinois at Urbana-Champaign - Department of Economics and Government of the United States of America - Office of Financial Research
Downloads 157 (358,820)
Citation 1

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microstructure, invariance, speculative arbitrage, trade time, volatility

23.

The Credit Channel of Fiscal Policy Transmission

Number of pages: 45 Posted: 06 Sep 2022 Last Revised: 30 Sep 2022
Andrew Bird, Stephen A. Karolyi, Stefan Lewellen and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, Office of the Comptroller of the Currency, Pennsylvania State University - Department of Finance and Government of the United States of America - Office of Financial Research
Downloads 139 (395,766)

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fiscal policy, AJCA, tax, tax holidays, banking, financial intermediation

24.

Estimating the Cost of Control Rights in the Corporate Loan Market

Number of pages: 55 Posted: 07 Sep 2022
Andrew Bird, Stephen A. Karolyi and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, Office of the Comptroller of the Currency and Government of the United States of America - Office of Financial Research
Downloads 124 (432,304)
Citation 1

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syndicated lending, financial covenants, control rights, loan pricing

25.

Number Processing Constraints and Earnings News

Management Science, Forthcoming
Number of pages: 75 Posted: 14 Feb 2024
Stephen A. Karolyi, Thomas Ruchti and Phong Truong
Office of the Comptroller of the Currency, Government of the United States of America - Office of Financial Research and Pennsylvania State University
Downloads 118 (448,818)

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neural constraints, cognitive limitations, number processing, earnings news, earnings response coefficients, post-earnings announcement drift

26.

Do Trade Creditors Possess Private Information? Stock Returns Evidence

NBER Working Paper No. w25553
Number of pages: 42 Posted: 19 Feb 2019 Last Revised: 28 Apr 2023
David Hirshleifer, Yifan Li, Ben Lourie and Thomas Ruchti
University of Southern California - Marshall School of Business - Finance and Business Economics Department, San Francisco State University, University of California, Irvine and Government of the United States of America - Office of Financial Research
Downloads 88 (549,389)

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27.

Does Lock-Up Lead to Stability? Implications For Runs in the Proof-of-Stake Protocol

Number of pages: 45 Posted: 15 Apr 2024 Last Revised: 18 Apr 2024
Samuel Hempel, Gregory Phelan and Thomas Ruchti
Board of Governors of the Federal Reserve System, Williams College and Government of the United States of America - Office of Financial Research
Downloads 61 (672,056)

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28.

The role of accounting discretion in the investment-financing relationship: Evidence from a structural model

Number of pages: 52 Posted: 15 Apr 2024
George E. Batta and Thomas Ruchti
Claremont McKenna College - Robert Day School of Economics and Finance and Government of the United States of America - Office of Financial Research
Downloads 47 (754,769)

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earnings management, investment, financing, accounting discretion

29.

Disclosure, Hold-up, and External Finance: Evidence from Private Firms

Posted: 26 Jul 2015 Last Revised: 19 Dec 2016
Andrew Bird, Stephen A. Karolyi and Thomas Ruchti
Chapman University - The George L. Argyros College of Business and Economics, Office of the Comptroller of the Currency and Government of the United States of America - Office of Financial Research

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voluntary disclosure, initial public offering, hold-up, private firms, loans