EconPapers    
Economics at your fingertips  
 

Reputation acquisition in imperfect financial markets

Koji Asano

Economics Letters, 2016, vol. 139, issue C, 76-78

Abstract: This paper incorporates financial market imperfections into the Diamond (1989) model where reputation concerns limit managers’ excessive risk-taking. We show that the reputational discipline collapses because of an increase in pledgeability and a decline in interest rates over time.

Keywords: Reputation; Risk-taking; Pledgeability; Low interest rates (search for similar items in EconPapers)
JEL-codes: G01 G11 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165176516000045
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:139:y:2016:i:c:p:76-78

DOI: 10.1016/j.econlet.2016.01.001

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

 
Page updated 2022-06-22
Handle: RePEc:eee:ecolet:v:139:y:2016:i:c:p:76-78