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Forthcoming Finance Publications

• Berger, Allen N. "Banking: An Overview," (with Phil Molyneux and John O.S. Wilson) in Oxford Handbook of Banking, Allen N. Berger, Phil Molyneux, and John O.S. Wilson, editors, forthcoming.
• Berger, Allen N. "Small Business Lending," in Oxford Handbook of Banking, Allen N. Berger, Phil Molyneux, and John O.S. Wilson, editors, forthcoming.
• Berger, Allen N. "Bank Liquidity Creation," (with Christa H.S. Bouwman), Review of Financial Studies, forthcoming.
• Berger, Allen N. "Bank Ownership and Efficiency in China: What Will Happen in the World’s Largest Nation?" (with Iftekhar Hasan and Mingming Zhou), Journal of Banking and Finance, forthcoming.
• Doerpinghaus, Helen, Schmidt, Joan T. and Jason Yeh, Jia-Hsing, "Age and Gender Effects on Auto Liability Insurance Payouts,"  Journal of Risk and Insurance, forthcoming. 
• Doerpinghaus, Helen,  Chen, Xuanjuan, Lin, Bing Xuan, and Yu, Tong, "Catastrophe Losses and Insurer Profitability: Evidence from 9/ll,"  Journal of Risk and Insurance, forthcoming.  
• Goto, Shingo, Watanbe, Masahiro and Xu, Yan, "Strategic Disclosure and Stock Returns:  Theory and Evidence from U.S. Cross-listing," Review of Financial Studies, forthcoming.
• Koch, Timothy W. and Evans, Jocelyn, "Surviving Chapter 11:  Why Small Firms Prefer Supplier Financing,"  Journal of Economics and Finance, forthcoming.
• Fee, C. Edward, Hadlock, Charles J. and Pierce, Joshua R., "Investment, Financing Constraints, and Internal Capital Markets:  Evidence from the Advertising Expenditures of Multinational Firms,"   Review of Financial Studies, forthcoming.
• Powers, Eric and Tsyplakov, Sergey, "What is the Cost of Financial Flexibility?  Theory and Evidence for Make-Whole Call Provisions,"  Financial Management, forthcoming.
• Titman, Sheridan and Tsyplakov, Sergey, "Dynamic Model of Optimal Capital Structure,"  Review of Finance, forthcoming.
• Tsyplakov, Sergey, "Investment Frictions and Leverage Dynamics,"  Journal of Financial Economics, forthcoming.
• Garlappi, Lorenzo, Shu, Tao, and Yan, Hong, "Default Risk, Shareholder Advantage, and Stock Returns,"  Review of Financial Studies, forthcoming.
• Yan, Shu, "Mean-Variance Portfolio Selection with ‘at-Risk’ Constraints and Discrete Distributions," with Gordon Alexander and Alexandre Baptista, Journal of Banking and Finance, forthcoming.
• Yan, Shu, "Crashes, Volatility, and the Equity Premium: Lessons from S&P 500 Options," with Pedro Santa-Clara, Review of Economics and Statistics, conditionally accepted.

2008 Finance Publications

• Berger, Allen N. "Bank Ownership Type and Banking Relationships," (with Leora F. Klapper, Maria Soledad Martinez Peria, and Rida Zaidi), Journal of Financial Intermediation 17 (January 2008), 37-62.

2007 Finance Publications

• Berger, Allen N. "International Comparisons of Banking Efficiency," Financial Markets, Institutions & Instruments 16 (August 2007), 119-144. Berger, Allen N. "Obstacles to a Global Banking System: 'Old Europe' versus 'New Europe,'" Journal of Banking and Finance 31 (July 2007), 1955-1973. Berger, Allen N. "Entry into Banking Markets and the Early-Mover Advantage," (with Astrid A. Dick), Journal of Money, Credit, and Banking 39 (June 2007), 775-807.
• Berger, Allen N. "Competition from Large, Multimarket Firms and the Performance of Small, Single-Market Firms: Evidence from the Banking Industry," (with Astrid A. Dick, Lawrence G. Goldberg, and Lawrence J. White), Journal of Money, Credit, and Banking 39 (March-April 2007), 331-368.
• Berger, Allen N. "Does Market Size Structure Affect Competition?: The Case of Small Business Lending," (with Richard J. Rosen and Gregory F. Udell), Journal of Banking and Finance 31 (January 2007), 11-33. Berger, Allen N.
• Berger, Allen N. "Small Business Credit Scoring and Credit Availability," (with W. Scott Frame), Journal of Small Business Management 47 (January 2007), 5-22.
• Huang, Jennifer, Wei, Kelsey, and Yan, Hong, "Participation Costs and the Sensitivity of Fund Flows to Past Performance,"  Journal of Finance, 62, 1273-1311, 2007.
• Ljungqvist, Alexander, Marston, Felicia, Starks, Laura, Wei, Kelsey, and Yan, Hong, "Conflicts of Interest in Sell-side Research and the Moderating Role of Institutional Investor,"  Journal of Financial Economics, 85, 420-456, 2007.
• Mann, Steven V. and Eric A. Powers, "Determinants of Bond Tender Premiums and the Percentage Tendered," Journal of Banking and Finance 31, 3 (March 2007), 547-566.
• Pavabutr, Pantisa, and Yan, Hong, "The Impact of Foreign Portfolio Flows on Volatility in Emerging Markets:  Evidence from Thailand", Australian Journal of Management, 32, 345-368, 2007.
• Ritter, Jay and Zhang, Donghang, "Affiliated Mutual Funds and the Allocation of Initial Public Offerings,"  Journal of Financial Economics, 86, 2 (November 2007), 337-368.
• Nimalendran, M., Ritter, Jay and Zhang, Donghang, "Do Today's Trades Affect Tomorrow's IPO Allocation?" Journal of Financial Economics, 84, 1 (April 2007), 87-109.

2006 Finance Publications

• Berger, Allen N. "A More Complete Conceptual Framework for SME Finance,” (with Gregory F. Udell), Journal of Banking and Finance 30 (November 2006), 2945-2966.
• Berger, Allen N. "Technological Progress and the Geographic Expansion of the Banking Industry," (with Robert DeYoung), Journal of Money, Credit, and Banking 38 (September 2006), 1483-1513.
• Berger, Allen N. "Capital Structure and Firm Performance: A New Approach to Testing Agency Theory and an Application to the Banking Industry," (with Emilia Bonaccorsi di Patti), Journal of Banking and Finance 30 (April 2006): 1065-1102.
• Berger, Allen N. "Potential Competitive Effects of Basel II on Banks in SME Credit Markets in the United States," Journal of Financial Services Research 28 (February 2006), 5-36.
• Berger, Allen N. "Why is Foreign Bank Penetration So Low in Developed Nations?" in Cross-Border Banking: Regulatory Challenges, Gerard Caprio, Jr., Douglas Evanoff, and George Kaufman, editors., World Scientific Publishing Co. Pte. Ltd, New Jersey, 2006: 125-150.

2005 Finance Publications 

• Berger, Allen N. "Debt Maturity, Risk, and Asymmetric Information," (with Marco A. Espinosa-Vega, W. Scott Frame, and Nathan H. Miller), Journal of Finance 60 (December 2005), 2895-2923.
• Berger, Allen N. "Corporate Governance and Bank Performance: A Joint Analysis of the Static, Selection, and Dynamic Effects of Domestic, Foreign, and State Ownership," (with George R.G. Clarke, Robert Cull, Leora Klapper, Gregory F. Udell), Journal of Banking and Finance 29 (August-September 2005), 2179-2221.
• Berger, Allen N. "Does Function Follow Organizational Form? Evidence from the Lending Practices of Large and Small Banks," (with Nathan H. Miller, Mitchell A. Petersen, Raghuram G. Rajan, and Jeremy C. Stein), Journal of Financial Economics 76 (May 2005), 237-269.
• Berger, Allen N. "Credit Scoring and the Availability, Price, and Risk of Small Business Credit," (with W. Scott Frame, Nathan H. Miller), Journal of Money, Credit, and Banking 37 (April 2005), 191-222.
• Niehaus, Greg and Yu, Tong, "Cash Balance Plan Conversions:   Evidence on Excise Taxes and Implicit Contracts,"  Journal of Risk and Insurance, 72, 2 (June 2005), 321-352.
• Powers, Eric A., "Interpreting Logit Regressions with Interaction Terms as Seen in the Management Turnover Literature," Journal of Corporate Finance 11, 3 (June 2005), 504-522.
• Titman, Sheridan, Tompaidis, Stathis and Tsyplakov, Sergey, "Determinants of Credit Spreads of Commercial Mortgages,"  Real Estate Economics, 33, 4 (2005), 711-738.
• Fehle, Frank and Tsylplakov, Sergey, "Dynamic Risk Management: Theory and Evidence,"  Journal of Financial Economics, 78, 1 (October 2005), 3-47.

2004 Finance Publications 

• Berger, Allen N. "The Institutional Memory Hypothesis and the Procyclicality of Bank Lending Behavior," (with Gregory F. Udell), Journal of Financial Intermediation 13 (October 2004), 458-495.
• Berger, Allen N. "The Dynamics of Market Entry: The Effects of Mergers and Acquisitions on Entry in the Banking Industry," (with Seth D. Bonime, Lawrence G. Goldberg, Lawrence J. White), Journal of Business 77 (October 2004), 797-834.
• Berger, Allen N. "Bank Concentration and Competition: An Evolution in the Making," (with Asli Demirguc-Kunt, Ross Levine, and Joseph G. Haubrich), Journal of Money, Credit, and Banking 36 (June 2004, Part 2), 433-451.
• Berger, Allen N. "Further Evidence on the Link between Finance and Growth: An International Analysis of Community Banking and Economic Performance," (with Iftekhar Hasan and Leora F. Klapper), Journal of Financial Services Research 25 (April/June 2004), 169-202.
• Berger, Allen N. "Exporting Financial Institutions Management via Foreign Direct Investment Mergers and Acquisitions," (with Claudia M. Buch, Gayle DeLong, and Robert DeYoung), Journal of International Money and Finance 23 (April 2004), 333-366.
• McNeil, Chrisl, Niehaus, Greg and Powers, Eric, "Management Turnover in Subsidiaries of Conglomerates Versus Stand-alone Firms,"  Journal of Financial Economics, 72 (April 2004), 63-96.
• Sergey Tsyplakov, Sheridan Titman and Stathis Tompaidis, "Market Imperfections, Investment Flexibility and Default Spreads,"  Journal of Finance, 59 (February 2004), 165-205.
• Fehle, Frank and Tsyplakov, Sergey, "Can Companies Influence Investor Behavior through Advertising,"  European Financial Management, 11 (2004), 625-648.
• Zhang, Donghang, "Why Do IPO Underwriters Allocate Extra Shares When They Expect to Buy Them Back?" Journal of Financial and Quantitative Analysis, 39, 3 (September 2004), 571-594.  

2003 Finance Publications 

• Berger, Allen N. "The Efficiency Effects of a Single Market for Financial Services in Europe," European Journal of Operational Research 150 (November 2003), 466-481.
• Berger, Allen N. "The Economic Effects of Technological Progress: Evidence from the Banking Industry," Journal of Money, Credit, and Banking 35 (April 2003), 141-176.
• Berger, Allen N. "To What Extent Will the Banking Industry be Globalized? A Study of Bank Nationality and Reach in 20 European Nations," (with Qinglei Dai, Steven Ongena, David C. Smith), Journal of Banking and Finance 27 (March 2003), 383-415, reprinted in Thomas J. Courchene and Edwin H. Neave, eds., Framing Financial Structure in an Information Environment, John Deutsch Institute for the Study of Economic Policy, Queen’s University (Kingston, Ontario, Canada): 73-116.
• Berger, Allen N. "What Explains the Dramatic Changes in Cost and Profit Performance of the U.S. Banking Industry?" (with Loretta J. Mester), Journal of Financial Intermediation, 12 (January 2003), 57-95.
• Berger, Allen N. "Small Business and Debt Finance," (with Gregory F. Udell), in Zoltan J. Acs and David B. Audretsch, eds., Handbook of Entrepreneurship Research, Boston: Kluwer Academic Publishers (2003): 299-328.
• Berger, Allen N. "Global Integration in the Banking Industry," (with David C. Smith), Federal Reserve Bulletin (November 2003): 451-463.
• Berger, Allen N. "Relationship Lending in the Argentine Small Business Credit Market," (with Leora F. Klapper, Margaret J. Miller, and Gregory F. Udell), in Margaret J. Miller, ed., Credit Reporting Systems and the International Economy, MIT Press (Cambridge, MA), (2003), 244-270.
• Steven V. Mann and Eric A. Powers, "What is a Make-Whole Call Provision Worth?," Journal of Bond Trading and Management, 1, 4 (April 2003), 315-325.
• Steven V. Mann and Eric A. Powers, "Indexing a Bond’s Call Price: An Analysis of Make-Whole Call Provisions," Journal of Corporate Finance, 9 (November 2003), 535-554.
• Greg Niehaus and Scott Harrington, "Capital, Corporate Income Taxes, and Catastrophe Insurance," Journal of Financial Intermediation, 12 (October 2003), 365-389.
• Helen Doerpinghaus, Joan Schmit, and Jason Jia-Hsing Yeh, "Personal Bias in Automobile Claims Settlement," Journal of Risk and Insurance, 70, 2 (June 2003), 185-205.
• Eric Powers, "Deciphering the Motives for Equity Carve-outs,"  Journal of Financial Research, 26 (2003), 31-50.

2002 Finance Publications

• Berger, Allen N. "Small Business Credit Availability and Relationship Lending: The Importance of Bank Organisational Structure," (with Gregory F. Udell), Economic Journal 112 (February 2002), F32-F53.
• Berger, Allen N. "The Future of Relationship Lending," (with Gregory F. Udell), in Benton E. Gup, ed., The Future of Banking, Quorum Books (Westport, CT), (2002), 203-227.
• Gertner, Robert, Eric Powers, and David Schartfstein, "Learning About Internal Capital Markets from Corporate Spin-offs," Journal of Finance 57, 6 (December 2002), 2479-2506.  Reprinted in Corporate Restructuring, edited by John J. McConnell and David J. Denis.

2001 Finance Publications

• Berger, Allen N. "The Effects of Dynamic Changes in Bank Competition on the Supply of Small Business Credit," (with Lawrence G. Goldberg, Lawrence J. White), European Finance Review 5 (2001), 115-139.
• Berger, Allen N. "The Ability of Banks to Lend to Informationally Opaque Small Businesses," (with Leora F. Klapper and Gregory F. Udell), Journal of Banking and Finance, 25 (2001), 2127-2167.
• Berger, Allen N. "The Effects of Geographic Expansion on Bank Efficiency," (with Robert DeYoung), Journal of Financial Services Research, 19 (2001), 163-184.
• Berger, Allen N. "Did U.S. Bank Supervisors Get Tougher During the Credit Crunch? Did They Get Easier During the Banking Boom? Did It Matter to Bank Lending?" (with Margaret K. Kyle and Joseph M. Scalise), in Frederic S. Mishkin, ed., Prudential Supervision: What Works and What Doesn't, National Bureau of Economic Research, University of Chicago Press (Chicago, IL) (2001), 301-349.
• Berger, Allen N. "Efficiency Barriers to the Consolidation of the European Financial Services Industry," (with Robert DeYoung and Gregory F. Udell), European Financial Management 7 (March 2001), 117-130.