WORKING PAPERS

Mark J. Flannery

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"Major Investments, Firm Financing Decisions, and Long-run Performance" (with R. Elsas and J. Garfinkel) (May 2004).

"Market Evidence on the Opaqueness of Banking Firms Assets" (with S. Kwan and M. Nimalendren) (August 2002).

“Are Bank Loans Special?  Evidence on the Post-Announcement Performance of Bank Borrowers” (with Matthew T. Billett and Jon A. Garfinkel), September 2004.

“Market Forces at Work in the Banking Industry: Evidence from the Capital Buildup of the 1990s” (with Kasturi Rangan), September 2002. 

No Pain, No Gain?  Effecting Market Discipline via "Reverse Convertible Debentures" November 2002

"Partial Adjustment toward Target Capital Structures" (with Kasturi Rangan), December 2004

"Market Discipline of U.S. Financial Firms:  Recent Evidence and Research Issues" (with Stansilava Nikolova), November 2003; forthcoming in William C. Hunter, George G. Kaufman, Claudio Borio, and Kostas Tsatsaronis (eds.), Market Discipline across Countries and Industries (Cambridge: MIT Press, 2004).

“Impact of Macroeconomic Announcements on Index Options’ Implied Volatility Measures” (with Elvan Aktase and Aris Protopapadakis), work in progress.

“Applying Market Discipline to Financial Firms”, work in progress.

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Mark J. Flannery 
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