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Gietl, Daniel - 2018

Empirical evidence suggests that managerial overconfidence and government guarantees contribute substantially to excessive risk-taking in the banking industry. This paper incorporates managerial overconfidence and limited bank liability into a principal-agent model, where the bank manager...

Persistent link: https://www.econbiz.de/10011975913

Cluster externalities, firm capabilities, and the recessionary shock : how the macro-to-micro-transition shapes firm performance during stable times and times of crisis

Hundt, Christian; Holtermann, Linus; Steeger, Jonas; … - 2019

In this paper, we examine the macro-to-micro-transition of cluster externalities to firms and how it is affected by the macroeconomic instability caused by the recessionary shock of 2008/2009. Using data from 16,166 manufacturing and business services firms nested in 390 German regions, we...

Persistent link: https://www.econbiz.de/10011985889

Bank profitability, leverage constraints, and risk-taking

Martynova, Natalya; Ratnovski, Lev; Vlahu, Razvan - 2019

Traditional theory suggests that higher bank profitability (or franchise value) dissuades bank risk-taking. We highlight an opposite effect: higher profitability loosens bank borrowing constraints. This enables profitable banks to take risk on a larger scale, inducing risk-taking. This effect is...

Persistent link: https://www.econbiz.de/10012020122

Impacts of subsidized credit on the optimum level of post-crisis investment of Brazilian firms

Alves, Patrick Franco; Silva, Ludmilla Lorrany Mattos; … - 2018

perspective of the Tobin's q. We combined the Tobin's q framework with the estimation of a panel data stochastic frontier model to …

Persistent link: https://www.econbiz.de/10012061259

Uncertainty shocks and financial crisis indicators

Hristov, Nikolay; Roth, Markus - 2019

analysis we show for a set of four euro area countries that negative uncertainty shocks, while accompanied by favorable effects …

Persistent link: https://www.econbiz.de/10012102657

The fire-sale channels of universal banks in the European sovereign debt crisis

Bagattini, Giulio; Fecht, Falko; Weber, Patrick - 2019

retail customers for the period 2009-2016 at the security level, we find evidence that banks sold off risky euro …

Persistent link: https://www.econbiz.de/10012125233

Affordability, financial innovation and the start of the housing boom

Dokko, Jane K.; Keys, Benjamin J.; Relihan, Lindsay E. - 2019

Persistent link: https://www.econbiz.de/10011986443

Macro to the rescue? : an analysis of macroprudential instruments to regulate housing credit

Falter, Alexander - 2019

This paper builds a macro model with a financial sector and a housing market to understand the transmission and effects of macroprudential instruments addressing mortgage credit. The model compares the introduction of a loan-to-value ratio (LTV), a countercyclical capital buffer (CCyB)-style...

Persistent link: https://www.econbiz.de/10012034723

The role of structural funding for stability in the German banking sector

Schupp, Fabian; Silbermann, Leonid - 2017

We analyze whether, and if so by how much, stable funding would have contributed to the financial soundness of German banks in the time period between 1995 and 2013, before the Basel III liquidity regulation to address excessive maturity mismatches in the wake of the financial crisis via the Net...

Persistent link: https://www.econbiz.de/10011608695

Drivers of systemic risk : do national and European perspectives differ?

Buch, Claudia M.; Krause, Thomas; Tonzer, Lena - 2017

when applying a national versus a European perspective. We use market data for 80 listed euro-area banks to measure each … bank's contribution to systemic risk (SRISK) at the national and the euro-area level. Our research delivers three main … national and the euro-area level is not very large, but there is considerable heterogeneity across countries and banks. Second …

Persistent link: https://www.econbiz.de/10011640989