Results 11 to 20 of about 82,071 (46)
Non-Performing Loans: What Matters in Addition to the Economic Cycle?
Social Science Research Network, 2013 Using a novel panel data set we study the macroeconomic determinants of nonperforming loans (NPLs) across 75 countries during the past decade. According to our dynamic panel estimates, the following variables are found to significantly affect NPL ratios:
Roland Beck +3 more
semanticscholar +1 more source
The Review of Corporate Finance StudiesWe analyze how countercyclical liquidity policy—via reserve requirements (RRs)—affects the credit cycle. For identification, we exploit supervisory credit register data and RR changes in Brazil made for monetary and macroprudential purposes and ...
João Barroso +3 more
semanticscholar +1 more source
Optimal Capital Requirements over the Business and Financial Cycles
American Economic Journal: Macroeconomics, 2020 I study economies where banks do not fully internalize the social costs of their lending decisions, which leads to real overinvestment. The bank capital requirement that restores investment efficiency varies over time.
F. Malherbe
semanticscholar +1 more source
Interbank Contagion at Work: Evidence from a Natural Experiment
Social Science Research Network, 2011 This paper tests financial contagion due to interbank linkages. For identification we exploit an idiosyncratic, sudden shock caused by a large-bank failure in conjunction with detailed data on interbank exposures.
Rajkamal Iyer, J. Peydró
semanticscholar +1 more source
Are Fund Managers Rewarded for Taking Cyclical Risks?
Social Science Research NetworkThe investment fund sector has expanded dramatically since the crisis of 2008-2009. As the sector grows, so do the implications of its risk-taking for the wider financial system and real economy.
E. Ryan
semanticscholar +1 more source
, 2016 We develop a quantitative equilibrium model of financial crises to assess the interaction between ex post interventions in credit markets and the buildup of risk ex ante. During a systemic crisis, bailouts relax balance sheet constraints and mitigate the
Javier Bianchi
semanticscholar +1 more source
Financing Indigenous entrepreneurs: A review and research agenda
Australian Journal of ManagementEmpowering Indigenous communities through entrepreneurialism is touted as key for reducing Indigenous disadvantage, but little headway has been made. One core and persistent issue is difficulty accessing finance to support growth.
E. De Gruyter +4 more
semanticscholar +1 more source
The Irrelevance of Fee Structures for Certification
American Economic Review: InsightsIn models of certification, possible restrictions on the nature of the fee structures are commonly analyzed. We show that they are irrelevant for the certifier’s ability to maximize profits and trade efficiency.
Martin Pollrich, Roland Strausz
semanticscholar +1 more source
Non-dilutive CoCo Bonds: A Necessary Evil?
Social Science Research NetworkBanks predominantly issue nondilutive CoCos, contrary to the suggestion that CoCos should be dilutive to reduce risk-taking. In an agency model of two moral hazards, we show that, although dilutive CoCos deter ex ante risk-taking and prevent banks from
Andrea Gamba, Yanxiong Gong, K. Ma
semanticscholar +1 more source
Voting on Public Goods: Citizens vs. Shareholders
Social Science Research NetworkWe study the interplay between a “one person-one vote” political system and a “one share-one vote” corporate governance regime. If shareholders push firms for more prosocial policies, political backlash may arise, undoing these initiatives.
Robin Döttling +3 more
semanticscholar +1 more source