Browsing HBS Scholarly Articles by Author "Becker, Bo"

Now showing items 1-5 of 5

    • Cyclicality of Credit Supply: Firm Level Evidence 

      Becker, Bo; Ivashina, Victoria (Elsevier, 2013-11-25)
      Theory predicts that there is a close link between bank credit supply and the evolution of the business cycle. Yet fluctuations in bank-loan supply have been hard to quantify in the time series. While loan issuance falls ...

    • Does Shareholder Proxy Access Improve Firm Value? Evidence from the Business Roundtable Challenge 

      Becker, Bo; Subramanian, Guhan; Bergstresser, Daniel (2012-11-21)
      We use the Business Roundtable’s challenge to the SEC’s 2010 proxy access rule as a natural experiment to measure the value of shareholder proxy access. We find that firms that would have been most vulnerable to proxy ...

    • Fiduciary Duties and Equity-Debtholder Conflicts 

      Becker, Bo; Stromberg, Per (2012)
      We use an important legal event to examine the effect of managerial fiduciary duties on equity‐debt conflicts. A 1991 legal ruling changed corporate directors’ fiduciary duties in Delaware firms, limiting managers’ incentives ...

    • Payout Taxes and the Allocation of Investment 

      Becker, Bo; Jacob, Marcus; Jacob, Martin (2012-08-31)
      ABSTRACT. When corporate payout is taxed, internal equity (retained earnings) is cheaper than external equity (share issues). If there are no perfect substitutes for equity finance, payout taxes may therefore have an effect ...

    • Reaching for Yield in the Bond Market 

      Becker, Bo; Ivashina, Victoria (Wiley-Blackwell, 2013-11-25)
      Reaching for yield—the propensity to buy riskier assets in order to achieve higher yields—is believed to be an important factor contributing to the credit cycle. This paper analyses this phenomenon in the corporate bond ...