This paper empirically investigates the link between political patronage and bank performance for Ukraine during 2003Q3 …

to be held on bank portfolios, rather than sold. I measure the capital ratio (the inverse of the leverage ratio, defined … as equity divided by asset value) for each bank at the time of each loan's origination. After controlling for both bank … results are robust to an instrumental variables strategy for predicting bank capital, a wide range of measures of bank capital …

in the banking sector, dividend payouts can shift the relative value of stakeholders' claims across firms. Through this … channel, one bank's capital policy affects the equity value and risk of default of other banks. In a model where such … externalities are strong, bank capital takes on the attribute of a public good, where the private equilibrium features excessive …

A Chinese subsidiary of a foreign bank issued yuan-denominated bonds on China's domestic interbank bond market for the …

coalition. Our empirical results show that firms with political patronage were adversely affected by the electoral outcome. More … political patronage also decreased their leverage levels significantly more than other firms after the 2008 election, suggesting …

empirical support. We conclude that bank equity is not socially expensive, and that high leverage at the levels allowed, for … makes banking inefficient. Better capitalized banks suffer fewer distortions in lending decisions and would perform better …

equity and CDS prices. We provide new evidence on how banking sector fragmentation and sovereign-bank linkages evolved over …-stage fixed-effects quantile approach, which explicitly links bank interconnectedness to systemic risk contributions. The …