Ping McLemore
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View article: Operational loss recoveries and the macroeconomic environment: Evidence from the U.S. banking sector
Operational loss recoveries and the macroeconomic environment: Evidence from the U.S. banking sector Open
Using supervisory data from large U.S. bank holding companies (BHCs), we document that operational loss recovery rates decrease in macroeconomic downturns. This procyclical relationship varies by business lines and loss event types and is …
View article: Operational Loss Recoveries and the Macroeconomic Environment: Evidence from the U.S. Banking Sector
Operational Loss Recoveries and the Macroeconomic Environment: Evidence from the U.S. Banking Sector Open
Using supervisory data from large U.S. bank holding companies (BHCs), we document that operational loss recovery rates decrease in macroeconomic downturns.This procyclical relationship varies by business lines and loss event types and is r…
View article: Active Technological Similarity and Mutual Fund Performance
Active Technological Similarity and Mutual Fund Performance Open
We examine whether superior understanding of technological innovation is a source of mutual fund managers’ ability to garner positive abnormal returns. Consistent with our hypothesis, the inter-quintile annual net Carhart alpha spread for …
View article: Haste Makes Waste: Banking Organization Growth and Operational Risk
Haste Makes Waste: Banking Organization Growth and Operational Risk Open
This study shows that banking organization growth is associated with higher operational losses per dollar of total assets and incidence of tail risks.Event studies using M&A activity and instrumental variable regressions provide consistent…
View article: Do Mutual Funds Have Decreasing Returns to Scale? Evidence from Fund Mergers
Do Mutual Funds Have Decreasing Returns to Scale? Evidence from Fund Mergers Open
Using mergers as shocks to fund size, I analyze the return-to-scale property of mutual funds. I find that acquiring funds’ performance deteriorates after experiencing a positive shock in size resulting from mergers, and liquidity plays an …