Fenghua Song

Pennsylvania State University - Smeal College of Business

Associate Professor of Finance

University Park, PA 16802

United States

http://sites.google.com/site/fenghua8song/

SCHOLARLY PAPERS

20

DOWNLOADS
Rank 11,907

SSRN RANKINGS

Top 11,907

in Total Papers Downloads

5,852

SSRN CITATIONS
Rank 3,601

SSRN RANKINGS

Top 3,601

in Total Papers Citations

134

CROSSREF CITATIONS

241

Scholarly Papers (20)

1.

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, Saint Louis - John M. Olin School of Business
Downloads 830 (41,767)
Citation 10

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

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, Saint Louis - John M. Olin School of Business
Downloads 573 (66,974)
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, Saint Louis - John M. Olin School of Business
Downloads 210 (202,158)
Citation 20

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3.

Debt Maturity Structure and Credit Quality

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 43 Posted: 29 Oct 2009 Last Revised: 28 Jan 2013
Washington University in St. Louis - John M. Olin Business School, Pennsylvania State University - Smeal College of Business and University of Houston, C. T. Bauer College of Business
Downloads 683 (54,169)
Citation 15

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Rollover risk, Debt maturity, Credit rating

4.

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, Saint Louis - John M. Olin School of Business
Downloads 594 (64,673)
Citation 22

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

5.
Downloads 406 (102,419)
Citation 14

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, Saint Louis - John M. Olin School of Business
Downloads 247 (172,927)
Citation 2

Abstract:

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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, Saint Louis - John M. Olin School of Business
Downloads 159 (258,378)
Citation 13

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

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, Saint Louis - John M. Olin School of Business
Downloads 337 (125,548)
Citation 12

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7.
Downloads 318 (134,153)
Citation 2

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, Saint Louis - John M. Olin School of Business
Downloads 277 (154,117)

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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, Saint Louis - John M. Olin School of Business
Downloads 41 (579,797)
Citation 2

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leverage, high house prices, financial fragility, bank capital

8.

Strategic Flexibility and the Optimality of Pay for Luck

Number of pages: 45 Posted: 08 Sep 2007 Last Revised: 17 Sep 2009
Washington University in St. Louis - John M. Olin Business School, Washington University in Saint Louis - Olin Business School and Pennsylvania State University - Smeal College of Business
Downloads 306 (139,763)
Citation 5

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CEO Compensation, Strategy, Pay for Luck, Corporate Governance

9.

Blockholder Short-Term Incentives, Structures, and Governance

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 513/2017
Number of pages: 60 Posted: 30 Oct 2014 Last Revised: 28 Jun 2017
Fenghua Song
Pennsylvania State University - Smeal College of Business
Downloads 265 (161,925)
Citation 4

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blockholder, exit, voice, short-term incentives, career concerns, investment myopia

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, Saint Louis - John M. Olin School of Business
Downloads 198 (213,429)
Citation 11

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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, Saint Louis - John M. Olin School of Business

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11.

Strategic Flexibility and the Optimality of Pay for Sector Performance

Review of Financial Studies, Forthcoming
Number of pages: 47 Posted: 21 Sep 2009
Washington University in St. Louis - John M. Olin Business School, Washington University in Saint Louis - Olin Business School and Pennsylvania State University - Smeal College of Business
Downloads 193 (218,518)
Citation 8

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12.

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, Saint Louis - John M. Olin School of Business
Downloads 153 (265,905)
Citation 1

Abstract:

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Ethics, Bank capital, Talent, Financial innovation

13.

Redemption Fees and Information-Based Runs

Number of pages: 69 Posted: 19 Jun 2016 Last Revised: 20 Jun 2016
Stephen Lenkey and Fenghua Song
Pennsylvania State University and Pennsylvania State University - Smeal College of Business
Downloads 129 (303,809)
Citation 2

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Runs, Redemption fees, Learning, Payoff externality, Last-mover advantage

14.

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, Saint Louis - John M. Olin School of Business
Downloads 128 (305,593)

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

15.

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, Saint Louis - John M. Olin School of Business
Downloads 115 (330,005)

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financial system development, systemic risk, political intervention

16.

Blockholder Trading and Monitoring, Career Concerns, and the Bright and Dark Sides of Investor 'Long-Termism'

Number of pages: 51 Posted: 05 Nov 2013
Fenghua Song
Pennsylvania State University - Smeal College of Business
Downloads 105 (351,271)
Citation 3

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Blockholder exit, Blockholder voice, Career concerns, Investment myopia

17.

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, Saint Louis - John M. Olin School of Business
Downloads 101 (360,344)

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18.

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, Saint Louis - John M. Olin School of Business
Downloads 99 (365,104)

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

19.

Feedback, Investment, and Social Value of Financial Expertise

Number of pages: 58 Posted: 20 Dec 2017
Stephen Lenkey and Fenghua Song
Pennsylvania State University and Pennsylvania State University - Smeal College of Business
Downloads 69 (450,863)

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Informational Feedback, Financial Expertise, Information Acquisition, Endogenous Adverse Selection, Bilateral Trading, Asymmetric information

20.

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, Saint Louis - John M. Olin School of Business
Downloads 40 (572,932)

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

Other Papers (1)

Total Downloads: 11
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, Saint Louis - John M. Olin School of Business
Downloads 11

Abstract:

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Corporate Governance, Oversight, Intrinsic Motivation