Using a sample of 155 IPOs that delist due to performance-related reasons shortly after going public, this paper sheds light on the motives of entrepreneurs and early investors in taking their firm public. I empirically examine the actions of insiders over the entire public life of the IPO firm in order to understand whether they knowingly sell overvalued equity. I examine the behavior and the ...

Euro area countries have recently moved to a new centralized bail-in framework by removing implicit public guarantees. Our paper analyzes banks' funding strategies after the proposal. We show that banks relied more on cheaper and better protected sources of funding, such as deposits, reduced fund collection from with weaker creditor protection, bonds.

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The injustice of needless pretrial detention has been the focus of much attention in the last few years. Recently the Institute on the Operation of Pretrial Release Projects and the 1963 National Conference on Bail and Criminal Justice have provided forums for the discussion of the effects of and alternatives to detention. Under the impetus of such forums and the pressure of jurisdictions seeki...

This paper attempts to evaluate whether the Cyprus adjustment program signed with the Troika was a necessary precondition to correct the imbalances in the economy in 2013. Although the factors leading to these imbalances appeared to be of exogenous nature, it is argued that the underlying problems were homegrown. In 2008, the Cyprus economy presented a satisfactory picture. However a careful as...