We study the sensitivity of banks’ credit supply to small and medium size enterprises (SMEs) in the UK to banks’ financial condition before and during the financial crisis. Employing unique data on the geographical location of all bank branches in the UK, we connect firms’ access to bank credit to the financial condition (i.e., bank health and the use of core deposits) of all bank branches in t...

We construct network centrality measures for customer and supplier industries in the U.S. economy. Consistent with Ahern, et al. (2014), we find central suppliers have higher levels of systematic risk than central customers and therefore more exposed to sectoral shocks. We posit that central suppliers have incentives to channel funds to their customers via trade credit. Our empirical results ar...

This study uses the current financial crisis as a quasi-experiment to examine whether and to what extent corporate boards affect the performance of firms. Using cumulative stock returns over the crisis to measure of firm performance, we find that board independence, as traditionally defined, does not significantly affect firm performance. However, when we re-define independent directors as outs...

We study the sensitivity of banks’ credit supply to small and medium size enterprises (SMEs) in the UK to banks’ financial condition before and during the financial crisis. Employing unique data on the geographical location of all bank branches in the UK, we connect firms’ access to bank credit to the financial condition (i.e., bank health and the use of core deposits) of all bank branches in t...

OBJECTIVES The relative merits of hub and spoke models of service delivery are often debated, but accessing data on how they may benefit service delivery can be difficult, and may hinder the adoption of a model which can benefit the health community. Our aim was to provide objective data that would either support or refute one potential benefit of service redesign, namely the effect on turnarou...

The ground-level ozone is a pervasive air pollutant, which can be potentially elevated by flaring emissions during chemical plant turnaround operations (i.e., startup and shutdown). Especially in chemical plant concentrated regions, the regional air-quality (i.e., the ozone concentration) may be aggravated by simultaneous turnaround emissions from multiple chemical plants. Thus, under viable ma...