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FLEX
FLEX – the Frankfurt Laboratory for Experimental Economic Research is a research center at the Faculty of Economics and Business at Goethe University in Frankfurt.
The carrot and the stick: Bank bailouts and the disciplining role of board appointments
(2021-07-08)
We empirically examine the Capital Purchase Program (CPP) used by the US government to bail out distressed banks with equity infusions during the Great Recession. We find strong evidence that a feature of the CPP - the ...