The Journal of Finance publishes leading research across all the major fields of finance. It is one of the most widely cited journals in academic finance, and in all of economics. Each of the six issues per year reaches over 8,000 academics, finance professionals, libraries, and government and financial institutions around the world. The journal is the official publication of The American Finance Association, the premier academic organization devoted to the study and promotion of knowledge about financial economics.
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Overconfidence and Preferences for Competition
Published: 2/13/2024, Volume: 79, Issue: 2 | DOI: 10.1111/jofi.13314 | Cited by: 17
ERNESTO REUBEN, PAOLA SAPIENZA, LUIGI ZINGALES
We study when preferences for competition are a positive economic trait among high earners and the extent to which this trait can explain the gender gap in income among a master's degree in business administration (MBAs). Consistent with the experimental evidence, preferences for competition are a positive economic trait only for individuals who are not overconfident. Preferences for competition correlate with income only at graduation when bonuses are guaranteed and not a function of performance. Overconfident competition‐loving MBAs observe lower compensation and income growth, and experience greater exit from high‐reward industries and more frequent job interruptions. Preferences for competition do not explain the gender pay gap among MBAs.
THE LENDING POLICY OF THE EXPORT‐IMPORT BANK: A STUDY IN PUBLIC POLICY*
Published: 9/1960, Volume: 15, Issue: 3 | DOI: 10.1111/j.1540-6261.1960.tb01604.x | Cited by: 0
Robert Reuben Dince
The Simultaneity of Bank Decision‐making, Market Structure, and Bank Performance
Published: 3/1979, Volume: 34, Issue: 1 | DOI: 10.1111/j.1540-6261.1979.tb02067.x | Cited by: 11
DUANE B. GRADDY, REUBEN KYLE
Affiliated Bank Performance and the Simultaneity of Financial Decision‐Making
Published: 9/1980, Volume: 35, Issue: 4 | DOI: 10.1111/j.1540-6261.1980.tb03512.x | Cited by: 6
DUANE B. GRADDY, REUBEN KYLE
AbstractThe remarkable growth of bank holding companies (BHCs) during the last decade has aroused a great deal of interest and controversy among academic economists and bank regulators. One of the important issues discussed has been the impact of holding company affiliation on the operating performance of the acquired banks. Subsequent empirical testing of the question has produced a wide array of results. Nevertheless, a recent survey of the literature by the staff of the Federal Reserve Board [18] concluded that while not entirely unambiguous, the findings are “relatively consistent and conclusive.” Such a sweeping generalization seems premature at best.In a recent issue of this Journal [4], we proposed an empirical model designed to test the interdependency between financial decision‐making and bank performance. The purpose of this note is to examine the implications of that investigation for the BHC performance issue. The impact of affiliation on bank performance has been analyzed in several different ways; however, no study has considered the important theoretical and statistical implications of the simultaneity question.