Macroprudential rules on banks' foreign currency exposure do what they are meant to do -- cross-border FX borrowing by banks falls by roughly a third, and bank stock returns become markedly less …
PublishedClassicJournal of Financial EconomicsPublished Oct 1976
Jensen and Meckling develop a theory of why a firm's ownership structure -- the mix of inside equity held by the managing owner, outside equity, and debt -- is not irrelevant, by defining "agency …