Banks as delegated risk managers

Delegated Trade and the Risk Premium

We extend a standard, rational expectation model of trade to incorporate the possibility of individual investors delegating their trades to an informed financial intermediary. In the presence of delegated trade, we show that a firm’s risk premium is a function of both the firm’s exposure to a common risk factor and idiosyncratic characteristics of the firm’s information environment. We show tha...

Essays on the Role of Investment Banks as IPO Underwriters, Mutual Fund Managers, and Merger Advisors

Employers as managers of risk, cost, and quality.

Apolipoproteins as markers and managers of coronary risk.

Coronary artery disease (CAD) is a major cause of morbidity and mortality in Western communities. Reliable indices of coronary risk assessment and targets for drug treatment are important to the management of patients. Although plasma LDL cholesterol is well established as a predictor of CAD, it may not be the best circulatory marker. Results from recent epidemiological studies and statin trial...

Managers' Social Capital and Financial Performance of Banks

Given the present era, the major share of resources attraction and allocation in the banks occurs in connection with society. As such, managers need social capital as well as physical and human capital in order to attain organizational goals, provide the ground for competition and pave the way for the development of their respective organization. Managerial social capital is an asset in a socia...