It is often said that there is a worldwide community of central bankers. I certainly feel that way. Central bankers in all countries share a number of concerns. Perhaps the most important of these is the desire for price stability. While central bankers may differ in the ways they seek to achieve price stability— differences grounded in our respective histories, customs, and institutions—the go...

This paper examines the bank lending relationships of a large sample of technology and nontechnology firms that went public during the 1996 through 2000 period. We use a unique hand collected dataset to examine the characteristics of firms that establish pre-IPO bank lending relationships and whether post-IPO performance is related to the existence and size of pre-IPO banking relationships. We ...

Currently, huge electronic data repositories are being maintained by banks and other financial institutions. Valuable bits of information are embedded in these data repositories. The huge size of these data sources make it impossible for a human analyst to come up with interesting information (or patterns) that will help in the decision making process. A number of commercial enterprises have be...

In a recent Nature article, Cohn et al. (2014, henceforth CFM) boldly claim that their results “suggest that the prevailing business culture in the banking industry weakens and undermines the honesty norm” (p. 1). The main empirical finding of the CFM paper is that a group of bank employees that answered a series of questions about their work subsequently reported higher proportion of wins in a...