{"id":2367,"date":"2016-06-20T09:01:58","date_gmt":"2016-06-20T00:01:58","guid":{"rendered":"https:\/\/www.waseda.jp\/inst\/wias\/?p=2367"},"modified":"2016-12-15T16:06:26","modified_gmt":"2016-12-15T07:06:26","slug":"wias-research-project-seminar-series-waseda-organizational-and-financial-economics-seminar-political-connections-and-financial-stability-620","status":"publish","type":"post","link":"https:\/\/www.waseda.jp\/inst\/wias\/news-en\/2016\/06\/20\/2367\/","title":{"rendered":"WIAS Research Project Seminar Series: Waseda Organizational and Financial Economics Seminar  &#8220;Political Connections and Financial Stability&#8221; (6\/20)"},"content":{"rendered":"<h3>WIAS Research Project Seminar Series:<\/h3>\n<h3>Waseda Organizational and Financial Economics Seminar<\/h3>\n<h3>&#8220;Political Connections and Financial Stability&#8221; (6\/20)<\/h3>\n<table class=\"table table-colored-tbhd\" style=\"width: 650px;\">\n<tbody>\n<tr>\n<th style=\"width: 96.41px;\">\u8b1b\u6f14\u8005<br \/>\nSpeaker<\/th>\n<td style=\"width: 536.58px;\"><em>Kentaro Asai<br \/>\n(Ph.D. student, Department of Economics, University of Chicago, U.S.A.)<\/em><br \/>\n<!--<a href=\"data\/20160516_profile_Dr_Riva.pdf\" target=\"_blank\" class=\"anchorA02\">--><u>Profile\uff1a<\/u>University of Chicago\u306b\u3066B.A.\u3001M.A.\u304a\u3088\u3073Ph.D. degree\u3092\u4fee\u4e86\u3002 \u307e\u305f\u3001Ph.D. degree\u524d\u306bGoldman Sachs\u306b\u3066\u30b9\u30c8\u30e9\u30c6\u30b8\u30b9\u30c8\u3068\u3057\u3066\u52e4\u52d9\u3002 2016\u5e747\u6708\u3088\u308aAustralian National University\u306b\u52e4\u52d9\u4e88\u5b9a\u3002<br \/>\n<u>Field of research, region of interest\uff1a<\/u><br \/>\nmicroeconomics, corporate finance, banking, behavioral finance, political economy<\/td>\n<\/tr>\n<tr>\n<th style=\"width: 96.41px;\">\u65e5\u3000\u6642<br \/>\nDate &amp; Time<\/th>\n<td style=\"width: 536.58px;\">Monday, June 20, 2016, 13:00-14:30<\/td>\n<\/tr>\n<tr>\n<th style=\"width: 96.41px;\">\u4f1a\u3000\u5834<br \/>\nVenue<\/th>\n<td style=\"width: 536.58px;\"><a href=\"http:\/\/www.waseda.jp\/top\/assets\/uploads\/2014\/10\/waseda-campus-map.pdf\" target=\"_blank\">Rm. 1111 on the 11th floor, Building #11, Waseda University\u3000 <img loading=\"lazy\" decoding=\"async\" class=\"icoA01\" src=\"http:\/\/www.waseda.jp\/wias\/common\/images\/mod_ico_pdf_01.gif\" alt=\"PDF\u30d5\u30a1\u30a4\u30eb\u3092\u958b\u304d\u307e\u3059\" width=\"12\" height=\"12\" \/><\/a><\/td>\n<\/tr>\n<tr>\n<th style=\"width: 96.41px;\">\u00a0\u4e3b\u3000\u65e8<br \/>\nOutline<\/th>\n<td style=\"width: 536.58px;\">Political connections distort ex-ante bank risk-taking incentives, but reduce bank stakeholders&#8217; beliefs about default as an equilibrium-selection device under the presence of government bailouts. Using a data set of U.S. banks, I verify the role of lobbying as a financial safety net and quantify the relative magnitude of the two channels. Using event-study approach, I reveal lobbying banks experienced greater reductions in credit default swap spreads than non-lobbying peers after bailout announcements in 2008. Using structural analysis, I find the equilibrium-selection channel has been dominant since 2008. These results suggest political connections reduce banks&#8217; risks ex post.<\/td>\n<\/tr>\n<tr>\n<th style=\"width: 96.41px;\">\u30d7\u30ed\u30b0\u30e9\u30e0<br \/>\nSchedule<\/th>\n<td style=\"width: 536.58px;\">13\uff1a00 Opening Remarks \uff08Yasuhiro Arikawa (Waseda University)\uff09<br \/>\n13\uff1a05\u00a0Presentation<br \/>\n14\uff1a05 <span lang=\"en\">Question-and-answer session<\/span><br \/>\n14\uff1a25 Concluding Remarks\uff08Yasuhiro Arikawa (Waseda University)\uff09<\/td>\n<\/tr>\n<tr>\n<th style=\"width: 96.41px;\">\u5bfe\u3000\u8c61<br \/>\nProspected Audience<\/th>\n<td style=\"width: 536.58px;\">Faculty and staff members of a university, grad students, the general publics<\/td>\n<\/tr>\n<tr>\n<th style=\"width: 96.41px;\">\u4e3b\u3000\u50ac<br \/>\nOrganizer<\/th>\n<td style=\"width: 536.58px;\">Research Institute of Business Administration,Waseda University<br \/>\nWaseda Institute for Advanced Study,Waseda University<\/td>\n<\/tr>\n<tr>\n<th style=\"width: 96.41px;\">\u7533\u8fbc\u307f<br \/>\nRegistration<\/th>\n<td style=\"width: 536.58px;\">Advance reservations not required.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>WIAS Research Project Seminar Series: Waseda Organizational and Financial Economics Seminar &#8220;Political C [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":2762,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[95],"tags":[82,94,73],"class_list":["post-2367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-events-en","tag-general-en","tag-research-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/posts\/2367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/comments?post=2367"}],"version-history":[{"count":0,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/posts\/2367\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/media\/2762"}],"wp:attachment":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/media?parent=2367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/categories?post=2367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/tags?post=2367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}