Economics, Econometrics and Finance
4 years ago

Financial Institutions Revolutionize Asset Pricing Theory and Corporate Finance.

SSRN Electronic Journal
Do Financial Institutions Matter
Franklin Allen

Paper Summary

Financial institutions play a crucial role in financial markets, yet traditional theories overlook their impact. Instead of focusing solely on how companies are run, we should also consider how financial institutions influence investments. By recognizing the importance of financial institutions, we can better understand how to analyze different financial situations effectively.

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