Partial Deregulation and Competition: Effects on Risky Mortgage Origination

2019 ◽  
Vol 65 (10) ◽  
pp. 4676-4711 ◽  
Author(s):  
Marco Di Maggio ◽  
Amir Kermani ◽  
Sanket Korgaonkar
2021 ◽  
pp. 000183922110206
Author(s):  
Ivana Naumovska ◽  
Dovev Lavie

Research on misconduct suggests that accusations against industry peers generate negative consequences for non-accused firms (a “stigma effect”). Yet, building on research on competitive dynamics, we infer that such accusations can benefit non-accused firms that compete with these peers (a “competition effect”). To reconcile these opposing perspectives, we posit that the negative stigma effect will increase with greater product market overlap between the non-accused firm and its accused peer, up to a point, beyond which the positive competition effect will counterbalance it. We further conjecture that the competition effect will be relatively more pronounced when the market classification used by investors for assessing the market overlap is more fine-grained. Accordingly, we suggest that more sophisticated investors, who rely on more fine-grained market classifications, increase their shareholdings in non-accused firms to a greater extent than less sophisticated investors as the market overlap between the non-accused firm and the accused peer increases. Using elaborate data on products and investments, we analyze investors’ shareholdings and stock market returns of non-accused firms in the U.S. software industry following accusations of financial misconduct by their industry peers, and we find support for our predictions. Our study elucidates the interplay between stigma and competition following misconduct by industry peers.


2002 ◽  
Vol 13 (07) ◽  
pp. 383-391 ◽  
Author(s):  
Albert R. De Chicchis ◽  
Michael Carpenter ◽  
Jerry L. Cranford ◽  
Murvin R. Hymel

This study examined the effects of selective attention versus stimulus competition on the late auditory evoked potential (LAEP) in 20 young and 20 elderly listeners. In a series of test runs, different oddball tonal sequences were presented to one or both ears, and listeners were instructed to attend to tones at a specific target ear. Peak amplitudes were recorded for the N1, P2, and the early and late N2 components of the LAEP. Significant attention effects were found for all four components. N1 amplitudes increased significantly when participants attended to the target stimuli, whereas the amplitudes of P2, N2e, and N2l decreased. For all LAEP components except N2l, the attention effect did not differ between young and elderly listeners. Significant competition effects also were found for all four components. Amplitudes were significantly larger in monaural than binaural conditions for all components except N2l. The magnitude of this competition effect also was significantly larger for the young listeners than the elderly for all components except N1. These results suggest that the ability to attend selectively to sounds may be more resistant to normal aging than are effects related to stimulus competition.


Agriculture ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 99
Author(s):  
Viktorija Gecaitė ◽  
Aušra Arlauskienė ◽  
Jurgita Cesevičienė

Cereal-legume intercropping is important in many low-input agricultural systems. Interactions between combinations of different plant species vary widely. Field experiments were conducted to determine yield formation regularities and plant competition effects of oat (Avena sativa L.)–black medick (Medicago lupulina L.), oat–white clover (Trifolium repens L.), and oat–Egyptian clover (T. alexandrinum L.) under organic farming conditions. Oats and forage legumes were grown in mono- and intercrops. Aboveground dry matter (DM) measured at flowering, development of fruit and ripened grain, productivity indicators, oat grain yield and nutrient content were established. The results showed that oats dominated in the intercropping systems. Oat competitive performance (CPo), which is characterized by forage legumes aboveground mass reduction compared to monocrops, were 91.4–98.9. As the oats ripened, its competitiveness tendency to declined. In oat–forage legume intercropping systems, the mass of weeds was significantly lower compared to the legume monocrops. Oats and forage legumes competed for P, but N and K accumulation in biomass was not significantly affected. We concluded that, in relay intercrop, under favourable conditions, the forage legumes easily adapted to the growth rhythm and intensity of oats and does not adverse effect on their grain yield.


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