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Pascal Golec

Essays in financial economics

Summary

This dissertation contains three essays in financial economics. The first essay investigates why firms become less dynamic in the subsequent years after going public. The second essay is inspired by the financial crisis of 2008. It shows that there is not enough information production about the underlying risks of innovative financial products in the run-up to financial crises, leading to overinvestment. The third essay is a survey about the emerging literature on safe assets, which play a crucial role in shaping credit expansion and risk taking in the financial sector.