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dc.contributor.advisorCampbell, Johnen_US
dc.contributor.advisorStein, Jeremyen_US
dc.contributor.advisorShleifer, Andreien_US
dc.contributor.advisorFarhi, Emmanuelen_US
dc.contributor.authorZeng, Yaoen_US
dc.date.accessioned2017-07-25T14:43:24Z
dc.date.created2016-05en_US
dc.date.issued2016-05-10en_US
dc.date.submitted2016en_US
dc.identifier.citationZeng, Yao. 2016. Essays on the Risks and Real Effects of Non-Bank Financial Institutions. Doctoral dissertation, Harvard University, Graduate School of Arts & Sciences.en_US
dc.identifier.urihttp://nrs.harvard.edu/urn-3:HUL.InstRepos:33493529
dc.description.abstractThese essays explore the risks and real effects of various non-bank financial institutions, such as open-end mutual funds, hedge funds, and venture capital. In the first essay, “A Dynamic Theory of Mutual Fund Runs and Liquidity Management,” I show that mutual funds are subject to bank-run-like risks, but the underlying mechanism is different. In the second essay, "Investment Exuberance under Cross Learning,” written with Shiyang Wang, we argue that firm cross learning can lead to inefficient investment exuberance, in which institutional investors’ (like hedge funds) play a key role. In the third essay, “Financing Entrepreneurial Production: Security Design with Flexible Information Acquisition," written with Ming Yang, we explores the optimal security design when the investor (like venture capital) can acquire information to help the entrepreneur make better investment decisions.en_US
dc.description.sponsorshipEconomicsen_US
dc.format.mimetypeapplication/pdfen_US
dc.language.isoenen_US
dash.licenseLAAen_US
dc.subjectEconomics, Financeen_US
dc.titleEssays on the Risks and Real Effects of Non-Bank Financial Institutionsen_US
dc.typeThesis or Dissertationen_US
dash.depositing.authorZeng, Yaoen_US
dc.date.available2017-07-25T14:43:24Z
thesis.degree.date2016en_US
thesis.degree.grantorGraduate School of Arts & Sciencesen_US
thesis.degree.levelDoctoralen_US
thesis.degree.nameDoctor of Philosophyen_US
dc.type.materialtexten_US
thesis.degree.departmentEconomicsen_US
dash.identifier.vireohttp://etds.lib.harvard.edu/gsas/admin/view/917en_US
dc.description.keywordsNon-bank financial institutions, risks, real effects.en_US
dash.author.emailyzeng25@gmail.comen_US
dash.contributor.affiliatedZeng, Yao


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