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Financing as a supply chain : the capital structure of banks and borrowers
Gornall, Will; Strebulaev, Ilya A. - 2013
We develop a model of the joint capital structure decisions of banks and their borrowers. Strikingly high bank leverage … emerges naturally from the interplay between two sets of forces. First, seniority and diversification reduce bank asset … and fragility. Deposit insurance and the expectation of government bailouts increase not only bank risk taking, but also …
Persistent link: https://www.econbiz.de/10010259793
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An Empirical Study of Optimal Bank Corrective Action for Indonesia Employing the Dynamic Contingent Claims Model
Hall, Maximilian J. B.; Mustika, Ganjar - In: Review of Pacific Basin Financial Markets and Policies … 08 (2005) 03, pp. 339-376
closure rules for each bank, levy "fair" deposit insurance premiums, estimate optimal subsidies (for different deposit …
Persistent link: https://www.econbiz.de/10005080738
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Issues in Private-Sector Finance in Israel
Hemmings, Philip - Economics Department, Organisation de Coopération et … - 2011
The 2008-09 global financial crisis did not result in the failure of any major financial institution in Israel, but it did reveal vulnerabilities in the non-banking sector . particularly in the corporate-bond market. Conservative regulation of the banking sector helped this segment avoid a...
Persistent link: https://www.econbiz.de/10009386332
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The changing structure of financial intermediation in Asia : benefits and risks
Roulet, Caroline - 2020
Over the past two decades, Asian economies have experienced rapid capital market growth and profound changes in the structure of their financial systems. This paper analyses key developments in advanced and emerging Asian economies since the global financial crisis, focusing on market...
Persistent link: https://www.econbiz.de/10012312161
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Bank capital regulations around the world: : what explains the differences?
Kara, Gazi I. - 2016 - This version: July 2016
variation in the data based on the theories of bank capital regulation. The results show that countries with high average …
Persistent link: https://www.econbiz.de/10011578143
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Discounted Private Placements in New Zealand: Exploitation or Fair Compensation?
Anderson, Hamish D. - In: Review of Pacific Basin Financial Markets and Policies … 09 (2006) 04, pp. 533-548
Market commentators have suggested that New Zealand's lax private placement and disclosure regulation allows private placement purchasers to immediately sell discounted shares without disclosing these transactions to the market. However, New Zealand firms with the deepest discounts tend to have...
Persistent link: https://www.econbiz.de/10004977582
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Supply uncertainty of the bond investor base and the leverage of the firm
Massa, Massimo; Yasuda, Ayako; Zhang, Lei - In: Journal of Financial Economics 110 (2013) 1, pp. 185-214
We examine the effect of the bond capital supply uncertainty of institutional investors (e.g., mutual bond funds and insurance companies) on the leverage of the firm using a novel data set. Our main finding is that the supply uncertainty of the firm's bond investor base — measured as (i) the...
Persistent link: https://www.econbiz.de/10011039228
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Corporate Social Responsibility
Hong, Harrison G.; Shore, Edward P. - National Bureau of Economic Research - 2022
Is shareholder interest in corporate social responsibility driven by pecuniary motives (abnormal rates of return) or non-pecuniary ones (willingness to sacrifice returns to address various firm externalities)? To answer this question, we categorize the literature into seven tests: (1) costs of...
Persistent link: https://www.econbiz.de/10013477263
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Balanced Performance Index and Its Implications: Evidence from Taiwan's Commercial Banks
Hwang, Dar-Yeh; Lee, Alice C.; Liu, Chi-Chun; Ouyang, Lishu - In: Review of Pacific Basin Financial Markets and Policies … 12 (2009) 01, pp. 27-62
are classified into two categories according either to the year founded, or to the type of major stockholders of a bank … more branch offices contributes the least profits. Therefore, to increase bank profits, CEOs should aim to improve bank …
Persistent link: https://www.econbiz.de/10004965139
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Monetary Policy Operations : Theory, Evidence, and Tools for Quantitative Analysis
Lagos, Ricardo; Navarro, Gastón - National Bureau of Economic Research - 2023
bank's ability to track a given fed funds target, and the heterogeneous incidence of policy actions on the shadow cost of …
Persistent link: https://www.econbiz.de/10014322758