Browsing ECO_Articles by Author "f2a8bf29-76f3-4c19-8eee-58d6a77b0c03"
Now showing items 1-5 of 5
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Career Concerns and Product Market Competition
Feriozzi, Fabio Wiley (2016-04-27)This paper studies the effect of increased competition in the product market on managerial incentives. I propose a simple model of career concerns where firms are willing to pay for managerial talent to reduce production ... -
Financial Integration and Liquidity Crises
Castiglionesi, Fabio; Feriozzi, Fabio; Lorenzoni, Guido Informs (2019-03)This paper analyzes the effects of financial integration on the stability of the banking system. Financial integration allows banks in different regions to smooth local liquidity shocks by borrowing and lending on a world ... -
Liquidity Coinsurance and Bank Capital
Castiglionesi, Fabio; Feriozzi, Fabio; Loranth, Gyöngyi; Pelizzon, Loriana Wiley (2014-03-26)Banks can deal with their liquidity risk by holding liquid assets (self-insurance), by participating in interbank markets (coinsurance), or by using flexible financing instruments, such as bank capital (risk sharing). We ... -
Managerial Entrenchment and the Market for Talent
Feriozzi, Fabio Society for Financial Studies (2022-08-19)This paper studies how the nature of managerial skills affects firms’ governance decisions. As required skills shift from firm specific toward more general abilities, replacing an underperforming CEO with an outside hire ... -
Paying for observable luck
Feriozzi, Fabio Wiley (2011-05-30)This article examines why CEOs are rewarded for luck, namely for observable shocks beyond their control. I propose a simple hidden action model where the agent has implicit incentives to avoid bankruptcy. After signing the ...