Investment, Duration, and Exit Strategies for Corporate and Independent Venture Capital‐Backed Start‐Ups

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Double Bank Runs and Liquidity Risk Management (2016, background): “Gennaioli, Shleifer, and Vishny (2013) emphasize asset-side diversification and tranching to back safe liabilities.”
Banks as patient fixed-income investors (2014, background): “As in Stein (2012), Gennaioli et al. (2013), and DeAngelo and Stulz (2015), the assumptions of the Modigliani-Miller (1958) theorem no longer hold, and the value of a risky asset may depend on the way it is financed using safe and risky claims.7 Time t = 1 Pessimistic news arrives with probability…”
Money creation and the shadow banking system (2015, background): “This is precisely what happened in August 2007, as the market for ABCP collapsed.21 20The evidence is also consistent with the idea that neglected risks played an important role in the boom, as argued by Gennaioli, Shleifer, and Vishny (2011, 2012).”