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UID:17e7b869e966b6e7e217f84b6e4a1f42
DTSTAMP:20250404T161721Z
SUMMARY:Jennie Bai\, PhD\, Georgetown University\, McDonough School of Busi
 ness
DESCRIPTION: \n\nSELECTED PUBLICATIONS\n\nSECURITY LENDING AND CORPORATE FI
 NANCING: EVIDENCE FROM BOND ISSUANCE\n2023\n\nCo-authors: Massimo Massa an
 d Hong Zhang\n\nThe securities lending market allows institutional investo
 rs\, such as\ninsurance companies\, to lend out asset holdings in exchange
  for cash\ncollateral\, an important but understudied source of funding. S
 ince\nsecurities lenders are also primary investors in corporate bonds\, w
 e\nhypothesize that their lending preference for certain types of bonds\nc
 an influence corporate financing policies. Indeed\, we observe that a\nhig
 her lender preference for long-term bonds stimulates firms to issue\nmore 
 such bonds and helps boost bond prices. The analysis exploiting a\nquasi-e
 xperiment supports a causal interpretation.\n\nSAFE ASSET SHORTAGES: EVIDE
 NCE FROM THE EUROPEAN GOVERNMENT BOND\nLENDING MARKET\n\nJournal of Financ
 ial & Quantitative Analysis\, 2021\, 56(8)\, 2689 - 2719\nCo-authors: Reen
 a Aggarwal\, and Luc Laeven\n\nWe identify the unique role of the governme
 nt bond lending market in\naccessing safe assets during periods of market 
 stress: collateral\ntransformation.\n\nIS THE CREDIT SPREAD PUZZLE A MYTH?
 \n\nJournal of Financial Economics\, 2020\, 137\, 297-319\nCo-authors: Rob
 ert Goldstein and Fan Yang\n\nEven though credit spreads on short-maturity
  investment grade bonds\nappear “high” given their low historical defa
 ult rates\, these high\nSharpe ratios should be interpreted as “fair com
 pensation” for\ndownward jump-risk.\n 
DTSTART:20250418T143000Z
DTEND:20250418T160000Z
LOCATION:Gerri C. LeBow Hall\, 3220 Market Street\, 1139\, Philadelphia\, P
 A 19104
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