Research
50 refereed journal articles and 34 reports, book chapters, and Federal Reserve studies, from 1986 to the present. Working papers are posted on SSRN, and current citation counts are on Google Scholar.
Refereed journal articles
50 articles. The FT50 tag marks the 7 articles in journals on the Financial Times list of 50 research journals.
2026
- Entrepreneurial overconfidence and SME financing decisionsCole, Rebel A., Marc Cowling, and Weixi LuJournal of Small Business Management, forthcoming
2025
- Intellectual property among incorporated and unincorporated entrepreneursCole, Rebel A., Christopher BoudreauxSmall Business Economics 65, 2089-2111
- It’s not (only) personal, it’s business: Personal bankruptcy exemptions and local small business creditFT50Cole, Rebel A., Jason Damm, John Hackney, Masim SuleymanovReview of Finance 29 (1), 275-313
- Real effects of shareholder proposals: Innovation in the context of climate changeFT50Cole, Rebel A., David Javakhadze, and Greg TindallJournal of Business Ethics 198, 509-536
2024
- The effect of collateral on small business rationing of term loans and lines of creditCole, Rebel A., Marc Cowling, and Weixi LuJournal of Financial Stability
- Macroeconomic conditions and bank failureCole, Rebel, Qionbing WuJournal of Forecasting
2021
- Corporate failures: Declines, collapses, and scandalsCole, Rebel, Sofia Johan, and Denis SchweizerJournal of Corporate Finance 67: 101872
- Why do bank holding companies purchase bank-owned life insuranceDavidson, Travis, Hongxia Wang and Rebel A. ColeReview of Quantitative Finance and Accounting 57, 29-59
2020
- How did the financial crisis affect small-business lending in the U.S.?Cole, Rebel A. and Jason DammJournal of Financial Research 43, 767-820
2019
- Reducing uncertainty through a two-stage IPOCole, Rebel A., Iannos Floros, and Vladimir IvanovJournal of Financial Intermediation, 38, 45-57
2018
- Debt financing, survival and growth of start-up firmsCole, Rebel A. and Tatyana SokolykJournal of Corporate Finance 50, 609-625
- Hierarchy of bank loan approval and loan performanceCalcagnini, Giorgio, Rebel Cole, Germana Giombini, and Gloria GrandicelliEconomia Politica, 1-20
2017
- Entrepreneurial Optimism, Credit Availability, and Cost of Financing: Evidence from U.S. Small BusinessesDai, Na, Vladimir Ivanov, and Rebel A. ColeJournal of Corporate Finance 44, 289-307
- When time is not on our side: The costs of regulatory forbearance in the closure of insolvent banksCole, Rebel A. and Lawrence J. WhiteJournal of Banking and Finance 80, 235-249
2016
- Who needs credit and who gets credit? Evidence from the Surveys of Small Business FinancesCole, Rebel A. and Tatyana SokolykJournal of Financial Stability 24, 40-60
- Do banks or VCs spur growth?Cole, Rebel A., Douglas Cumming, and Dan LiJournal of International Financial Markets, Institutions, and Money 41, 60-72
- What do we know about executive compensation at small privately held firms?Cole, Rebel A. and Hamid MehranSmall Business Economics 46, 215–237
2015
- How should we measure bank capital adequacy? A simple proposalChernykh, Lucy and Rebel A. ColeJournal of Financial Stability 20, 131-143
2014
- Real estate value impacts from fracking: Industry response and proper analytical techniquesRoddewig, Richard J., and Rebel A. ColeReal Estate Issues 39 (3), 6-20
- Improving corporate governance where the State is the controlling block holder: Evidence from ChinaBerkman, Henk, Rebel A. Cole and Lawrence J. FuEuropean Journal of Finance 20, 752-777
2013
- What do we know about the capital structure of privately held firms? Evidence from the Surveys of Small Business FinancesCole, Rebel AFinancial Management 45, 777-813
2012
- Déjà vu all over again: The causes of U.S. commercial bank failures this time aroundCole, Rebel A. and Lawrence J. WhiteJournal of Financial Services Research 42, 5-29
2011
- How accurate are commercial real-estate appraisals? Evidence from 25 years of NCREIF dataCannon, Susanne E. and Rebel A. ColeJournal of Portfolio Management 35 (5), 68-88
- Changes in REIT liquidity: Evidence from daily data 1988–2007Cannon, Susanne E. and Rebel A. ColeJournal of Real Estate Finance and Economics 43, 258-280
- Does deposit insurance improve financial intermediation? Evidence from the Russian experimentChernykh, Lucy and Rebel A. ColeJournal of Banking & Finance 35, 388-402
2010
- The role of owner in capital structure decisions: An analysis of single-owner corporationsAng, James S., Rebel A. Cole and Dan LawsonJournal of Entrepreneurial Finance 14, 1-36
- Political connections and minority-shareholder protection: Evidence from securities-market regulation in ChinaFT50Berkman, Henk, Rebel A. Cole and Lawrence J. FuJournal of Financial & Quantitative Analysis 45, 1391-1417
2009
- Expropriation through loan guarantees to related parties: Evidence from ChinaBerkman, Henk, Rebel A. Cole and Lawrence J. FuJournal of Banking & Finance 33, 141-156
2008
- Bank stock returns and economic growthCole, Rebel A., Fariborz Moshirian and Qionbing WuJournal of Banking & Finance 32, 996-1007
2007
- Henderson Global Investors: Institutional investments in real estateCole, Rebel AJournal of Real Estate Practice and Education 10, 107-122
2004
- Cookie-cutter versus character: The micro structure of small-business lending by large and small banksFT50Cole, Rebel A., Lawrence G. Goldberg and Lawrence J. WhiteJournal of Financial & Quantitative Analysis 39, 227-251
2000
- Agency costs and ownership structureFT50Ang, James, Rebel A. Cole and James LinThe Journal of Finance 55, 81-106
1998
- The effect of changes in ownership structure on performance: Evidence from the thrift industryFT50Cole, Rebel A. and Hamid MehranJournal of Financial Economics 50, 291-317
- The importance of relationships to the availability of creditCole, Rebel AJournal of Banking & Finance 22, 959-997
- Predicting bank failures: A comparison of on- and off-site monitoring systemsCole, Rebel A. and Jeffery W. GuntherJournal of Financial Services Research 13, 103-117
1997
- Changes in REIT liquidity 1990-94: Evidence from intra-day transactionsBhasin, Vijay, Rebel A. Cole and Joseph K. KielyReal Estate Economics 25, 615-630
1996
- Commercial banks and real estate lending: The Texas experienceEisenbeis, Robert A., Paul M. Horvitz and Rebel A. ColeJournal of Regulatory Economics 10, 275-290
- The role of principal-agent problems in the 1980s thrift crisisCole, Rebel A. and Robert A. EisenbeisReal Estate Economics 24, 195-218
1995
- Separating the likelihood and timing of bank failureCole, Rebel A. and Jeffery W. GuntherJournal of Banking & Finance 19, 1073-1089
1994
- Announcements of asset-quality problems and contagion effects in the life insurance industryFT50Fenn, George W. and Rebel A. ColeJournal of Financial Economics 35, 181-198
- Thrift asset-class returns and efficient diversification of thrift institution portfoliosCole, Rebel A. and Joseph A. McKenzieReal Estate Economics 22, 95-116
- Asymmetric-information and principal-agent problems as sources of value in FSLIC-assisted acquisitions of thrift institutionsCole, Rebel A., Robert A. Eisenbeis and Joseph A. McKenzieJournal of Financial Services Research 8, 5-28
1993
- When are thrift institutions closed? An agency-theoretic modelCole, Rebel AJournal of Financial Services Research 7, 283-307
1992
- Moral hazard, portfolio allocation, and asset returns for thrift institutionsMcKenzie, Joseph A., Rebel A. Cole and Richard A. BrownJournal of Financial Services Research 5, 315-339
1991
- Recoveries on distressed real estate and the relative efficiency of public versus private managementCurry, Timothy, Joseph Blalock and Rebel ColeReal Estate Economics 19, 495-515
1990
- A different look at commercial real estate returnsMiles, Mike, Rebel Cole and David GuilkeyReal Estate Economics 18, 403-430
1989
- The motivations for institutional real estate sales and implications for generalizing from specific property sales to asset class returnsGuilkey, David, Mike Miles and Rebel ColeReal Estate Economics 17, 70-86
- More scientific diversification categories in commercial real estateCole, Rebel, David Guilkey, Mike Miles and Brian WebbReal Estate Review, Spring, 59-66
1987
- Pension fund investment managers’ unit values deserve confidenceCole, Rebel, David Guilkey and Mike MilesReal Estate Review, Spring. 84-89
1986
- Towards an assessment of the reliability of commercial appraisalsCole, Rebel, David Guilkey and Mike MilesThe Appraisal Journal, July, 422-432
Reports, chapters, and other publications
34 items, including U.S. Small Business Administration research studies, Federal Reserve publications, and book chapters.
2021
- Public Lending Schemes for SMEs in Asia and the Pacific: Lessons from the Republic of Korea and the United StatesNiazi, Tariq H., Rebel A. Cole, Junkyu Lee, Sung Su Kim, and Jae-Joon HanAsian Development Bank Briefs
2020
- Do banks lend where they borrow? A study on local small business lending in the U.SCole, Rebel A. and Jason DammU.S. Small Business Administration Research Study
- Bank lending to rural vs urban firms in the United States before, during, and after the Great Financial CrisisCole, Rebel AU.S. Small Business Administration Research Study No. 449
2018
- How did bank small-business lending in the U.S. change after the financial crisis?Cole, Rebel AU.S. Small Business Administration Research Study No. 439
2016
- An assessment of financial sector development in BhutanCole, Rebel A. and Sarah CovingtonADB South Asia Working Paper No. 44. Published as Chapter 10 in pp. 404-455. Bhutan: New Pathways to Growth. 2017. S. Mitra and H.Y. Jeong, editors. Oxford University Press. New Delhi, India. ISBN-13: 978-0-19-947401-1
2014
- Credit scoring and credit-market outcomes: Evidence from the SSBF and KFSCole, Rebel AU.S. Small Business Administration Research Study No. 419
2012
- How did the financial crisis affect small-business lending in the U.S.?Cole, Rebel AU.S. Small Business Administration Research Study No. 399
- Availability of credit to small firms young and oldCole, Rebel AIn The Oxford Handbook of Entrepreneurial Finance, edited by Douglas Cumming. Oxford University Press. 305-340
2011
- How do firms choose legal form of organization?Cole, Rebel AU.S. Small Business Administration Research Study No. 383
2010
- Bank credit, trade credit or no credit? Evidence from the Surveys of Small Business FinancesCole, Rebel AU.S. Small Business Administration Research Study No. 365
2009
- Who needs credit and who gets credit? Evidence from the Surveys of Small Business FinancesCole, Rebel AIn Small Business in Focus: Finance. A Compendium of Research by the Small Business Administration Office of Advocacy, July, 95-133
2008
- What do we know about the capital structure of privately held firms? Evidence from the Surveys of Small Business FinancesCole, Rebel AU.S. Small Business Administration Research Study No. 324
2007
- The state of rental housing in Cook CountyCole, Rebel A. and Jonathan DombrowPublished by the MacArthur Foundation, Chicago, IL
1999
- Cookie-cutter versus character: The micro structure of small-business lending by large and small banksCole, Rebel A., Lawrence W. Goldberg and Lawrence J. WhiteIn Business Access to Capital and Credit: A Federal Reserve System Research Conference, Federal Reserve Bank of Chicago
1998
- Banking consolidation and the availability of credit to small businesses: Evidence from the 1993 National Survey of Small BusinessesCole, Rebel A. and Nicholas WalravenIn Consolidation in the Financial Services Industry, Proceedings of a conference sponsored by the Federal Reserve Bank of New York held March 27 in New York City, NY USA
1996
- Bank and nonbank competition for small business credit: Evidence from the 1987 and 1993 National Surveys of Small Business FinancesCole, Rebel A., John D. Wolken and R. Louise WoodburnFederal Reserve Bulletin 82, November. 983-995
- REIT liquidity and bid-ask spreadsBhasin, Vijay, Rebel A. Cole and Joseph K. KielyReal Estate Finance 13, Summer 1996. Reprinted in CFA Digest February 1997, Vol. 27, No. 1, 33-55
- The effect of changes in ownership structure on firm performanceCole, Rebel A. and Hamid MehranIn Proceedings of a Conference on Bank Structure and Performance, Federal Reserve Bank of Chicago
1995
- A CAMEL rating’s shelf lifeCole, Rebel A. and Jeffery W. GuntherFinancial Industry Studies, Federal Reserve Bank of Dallas, December
- Deregulation gone awry: Moral hazard in the savings and loan industryCole, Rebel A., Joseph A. McKenzie and Lawrence J. WhiteIn Bank Failures: Causes, Consequences and Cures, edited by Michael S. Lawler and John H. Wood, Kluwer Academic Publishers: Norwell, MA
- Financial services uses by small businesses: Evidence from the 1993 National Survey of Small Business FinancesCole, Rebel A. and John D. WolkenFederal Reserve Bulletin 81 July. Board of Governors of the Federal Reserve System, Washington, DC. 629-667
- FIMS: A new monitoring system for banking organizationsCole, Rebel A., Barbara G. Cornyn and Jeffery W. GuntherFederal Reserve Bulletin 81, January. Board of Governors of the Federal Reserve System, Washington, DC. 1-15
1994
- When are failing banks closed?Cole, Rebel A. and Jeffery W. GuntherFinancial Industry Studies, Federal Reserve Bank of Dallas, December. 1-12
- Did commercial real estate lending cause the banking crisis?Cole, Rebel A. and George W. FennReal Estate Finance 11:3, Fall. 59-68
1993
- Separating the likelihood and timing of bank failureCole, Rebel A. and Jeffery W. GuntherFinancial Industry Studies 93-2, Federal Reserve Bank of Dallas
1992
- Announcements of asset-quality problems and stock returns: The case of life insurance companies, with George FennCole, Rebel A. and George W. FennIn Proceedings of a Conference on Bank Structure and Performance, Federal Reserve Bank of Chicago
1991
- Executive compensation and corporate performance: Evidence from the thrift industryCole, Rebel A. and Hamid MehranIn Proceedings of a Conference on Bank Structure and Performance, Federal Reserve Bank of Chicago
1990
- Thrift resolution activities: Historical overview and implicationsCole, Rebel AFinancial Industry Studies, Federal Reserve Bank of Dallas, May 1990. Reprinted in Annual Editions: Money and Banking, 1991. James P. Egan, editor, Guilford, CT: The Dushkin Publishing Group, Inc
- The causes and costs of thrift institution failures: a structure-behavior-outcomes approachCole, Rebel A., Joseph McKenzie, and Lawrence J. WhiteFinancial Industry Studies 90-5, Federal Reserve Bank of Dallas
- Agency conflicts and thrift resolution costsCole, Rebel AFinancial Industry Studies 90-3, Federal Reserve Bank of Dallas
- Insolvency versus closure: why the regulatory delay in closing troubled thrifts?Cole, Rebel AFinancial Industry Studies 90-2, Federal Reserve Bank of Dallas
- Going beyond traditional mortgages: The portfolio performance of thriftsBrown, Richard A., Joseph A. McKenzie, and Rebel A. ColeFinancial Industry Studies 90-1, Federal Reserve Bank of Dallas
1989
- Value creation and excess returns in FSLIC-assisted takeovers of troubled thriftsCole, Rebel A. and Robert A. EisenbeisIn Proceedings of a Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago
- Excess returns and sources of value in FSLIC-assisted acquisitions of troubled thriftsCole, Rebel A. and Robert A. EisenbeisFinancial Industry Studies 90-2, Federal Reserve Bank of Dallas
Conference presentations and earlier working papers are listed in the curriculum vitae.