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Author:Cole, Rebel A. 

Conference Paper
Value creation and excess returns in FSLIC-assisted acquisitions of troubled thrifts

Proceedings , Paper 251

Working Paper
When are thrifts closed? An agency-theoretic model

Finance and Economics Discussion Series , Paper 93-37

Journal Article
Financial services used by small businesses: evidence from the 1993 National Survey of Small Business Finances

Federal Reserve Bulletin , Issue Jul , Pages 629-667

Working Paper
The role of principal agent-conflicts in the 1980s thrift crisis

Finance and Economics Discussion Series , Paper 95-27

Working Paper
Going beyond traditional mortgages: the portfolio performance of thrifts

Financial Industry Studies Working Paper , Paper 90-1

Report
What can we learn from privately held firms about executive compensation?

We study the Green and Lin (2003) model of financial intermediation with two new features: traders may face a cost of contacting the intermediary, and consumption needs may be correlated across traders. We show that each feature is capable of generating an equilibrium in which some (but not all) traders ?run? on the intermediary by withdrawing their funds at the first opportunity regardless of their true consumption needs. Our results also provide some insight into elements of the economic environment that are necessary for a run equilibrium to exist in general models of financial ...
Staff Reports , Paper 314

Working Paper
Commercial banks and real estate lending: the Texas experience

This study analyzes the performance of Texas commercial banks specializing in mortgage lending during the late 1980s and early 1990s to investigate how representative was their experience as compared with that of banks across the country concentrating in real estate lending. The results show that Texas real estate banks (REBs) performed very poorly during the 1980s and early 1990s, but this was because the Texas REBs were clearly different from the majority of the banks classified as REBs in the rest of the country. Texas REBs invested more heavily in commercial mortgages than did other ...
Finance and Economics Discussion Series , Paper 96-15

Working Paper
Agency conflicts and thrift resolution costs

Financial Industry Studies Working Paper , Paper 90-3

Working Paper
Changes in REIT liquidity 1990-94: evidence from intra-day transactions

In this study, we use data on intra-day transactions to analyze whether REIT liquidity as measured by the bid-ask spread changed from 1990 to 1994, a period during which the industry s market capitalization increased from $9 billion to $45 billion. We find that REIT spreads narrowed significantly. We then use a variation of the empirical model proposed by Stoll (1978) to analyze the determinants of percentage spreads including whether spreads are determined by return variability, share price, exchange listing, and asset type. We find strong support for Stoll s model, in that return variance ...
Finance and Economics Discussion Series , Paper 96-22

Report
Gender and the availability of credit to privately held firms: evidence from the surveys of small business finances

This study analyzes differences by gender in the ownership of privately held U.S. firms and examines the role of gender in the availability of credit. Using data from the nationally representative Surveys of Small Business Finances, which span a period of sixteen years, we document a series of empirical regularities in male- and female-owned firms. Looking at the differences by gender, we find that female-owned firms are 1) significantly smaller, as measured by sales, assets, and employment; 2) younger, as measured by age of the firm; 3) more likely to be organized as proprietorships and less ...
Staff Reports , Paper 383

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