Borrowers in the Shadows: The Promise and Pitfalls of Alternative Credit Data

Mark Jansen¹, Sam Kruger², Gonzalo Maturana³, Amin Shams⁴

1: University of Utah, United States of America; 2: University of Texas, Austin; 3: Emory University; 4: Ohio State University

What Do Lead Banks Learn from Leveraged Loan Investors?

Max Bruche¹, Ralf R. Meisenzahl², David X. Xu³

1: Humboldt University of Berlin, Germany; 2: Federal Reserve Bank of Chicago; 3: Southern Methodist University

Bank Specialization in Lending to New Firms

Diana Bonfim^2,3,4, Ralph De Haas^1,4,7, Alexandra Matyunina⁵, Steven Ongena^4,6,7,8

1: European Bank for Reconstruction and Development, United Kingdom; 2: Banco de Portugal; 3: Catolica Lisbon; 4: CEPR; 5: Banco de Espana; 6: University of Zurich Finance Institute; 7: KU Leuven; 8: NTNU Business School

Bank Capital and the Growth of Private Credit

Sergey Chernenko¹, Robert Ialenti², David Scharfstein²

1: Purdue University, United States of America; 2: Harvard Business School

Private Debt versus Bank Debt in Corporate Borrowing

Sharjil Haque¹, Irina Stefanescu¹, Simon Mayer²

1: Federal Reserve Board, United States of America; 2: Carnegie Mellon University

Common Investors Across the Capital Structure: Private Debt Funds as Dual Holders

Tetiana Davydiuk¹, Isil Erel^2,5,6, Wei Jiang^3,5,6, Tatyana Marchuk^4,7

1: Carey Business School, Johns Hopkins University; 2: Fisher College of Business, Ohio State University; 3: Goizueta Business School, Emory University; 4: Nova School of Business and Economics, Portugal; 5: NBER; 6: ECGI; 7: CEPR

Shadow Banks on the Rise: Evidence Across Market Segments

Kim Fe Cramer², Pulak Ghosh³, Nirupama Kulkarni⁴, Nishant Vats¹

1: Washington University in St Louis, United States of America; 2: London School of Economics; 3: Indian Institute of Management Bangalore; 4: CAFRAL

Data as Collateral: Open Banking for Small Business Lending

Tong Yu

Imperial College London

Do banks help small businesses? Evidence from independent retail pharmacies

Vojislav Maksimovic, Elliot Oh, Liu Yang

University of Maryland

Privacy-Enhanced Payment Systems

Agostino Capponi¹, Michael Lee², Brian Zhu¹

1: Columbia University; 2: Federal Reserve Bank of New York

Achieving Consensus on Blockchains

Zahra Ebrahimi¹, Maxi Guennewig², Bryan Routledge¹, Ariel Zetlin-Jones¹

1: Carnegie Mellon University, United States of America; 2: University of Bonn

Money Creation in Decentralized Finance: A Dynamic Model of Stablecoin

Ye Li¹, Simon Mayer²

1: University of Washington, United States of America; 2: Carnegie Mellon University, United States of America

Regulatory Uncertainty and FinTech Innovation

Murillo Campello^1,2,4, Lin William Cong^2,4, Diemo Dietrich³

1: University of Florida; 2: Cornell University; 3: University of Greifswald, Germany; 4: NBER

Information Span in Credit Market Competition

Zhiguo He¹, Jing Huang², Cecilia Parlatore³

1: Stanford University; 2: Texas A&M University, United States of America; 3: New York University

Bank Technology Adoption and Firm Productivity

Sheila Jiang¹, Alessandro Rebucci², Gang Zhang³

1: University of Florida, United States of America; 2: Johns Hopkins University; 3: Cheung Kong Graduate School of Business

Mixology: Order flow segmentation design

Joshua Mollner

Northwestern University, Kellogg School of Management, United States of America

Manipulating Algorithmic Markets

Pedro Tremacoldi-Rossi

Columbia University, United States of America

Measuring public and private information using quote and trade races

James Brugler¹, Terrence Hendershott²

1: University of Melbourne, Australia; 2: Haas School of Business, University of California

Violent Conflict and Cross-Border Lending

Alexander Popov¹, Ralph De Haas², Mikhail Mamonov³, Iliriana Shala⁴

1: European Central Bank, Germany; 2: European Bank for Reconstruction and Development, UK; 3: TBS Business School, France; 4: Deutsche Bundesbank, Germany

Two Centuries of Systemic Bank Runs

Rustam Jamilov¹, Tobias König², Karsten Müller³, Farzad Saidi²

1: All Souls College, University of Oxford; 2: University of Bonn, Germany; 3: National University of Singapore

The Long and Short of U.S. Bank Regulations: From the Great Depression to the 2023 Bank Failures

Sami Mahmood

National University of Singapore, Singapore

How Private Equity Fuels Non-Bank Lending

Sharjil Haque², Simon Mayer¹, Teng Wang²

1: Carnegie Mellon University, United States of America; 2: Federal Reserve Board

Hunting for Dollars

Peteris Kloks¹, Edouard Mattille¹, Angelo Ranaldo²

1: University of St.Gallen; 2: University of Basel

The Effect of Instant Payments on the Banking System: Liquidity Transformation and Risk-Taking

Rodrigo Gonzalez¹, Yiming Ma², Yao Zeng³

1: Central Bank of Brazil; 2: Columbia University, United States of America; 3: University of Pennsylvania, United States of America