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Firm-specific factors influencing the selection of accounting options provided by the IFRS: Empirical evidence from Spanish market
Aledo, Juana; García-Martínez, Fernando; Diazaraque, … - Banco de España - 2009
It is generally accepted that International Financial Reporting Standards (IFRS) promote a "true and fair" presentation … recognition and valuation, with the goal of protecting stakeholders. Adjustments introduced as a consequence of IFRS adoption may … listed on the Spanish Continuous Stock Market that have been using IFRS since 2005 to determine the accounting policy options …
Persistent link: https://www.econbiz.de/10008458129
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Do dynamic provisions reduce income smoothing using loan Loss provisions?
Pérez, Daniel; Salas-Fumás, Vicente; Saurina, Jesús - Banco de España - 2011
Spanish banks had to set aside a countercyclical loan loss provision during the period 2000 2004. The amount of such provision as well as the allowance accumulated had to be disclosed by banks. The former creates a natural experiment to test whether banks smooth earnings to mislead investors and...
Persistent link: https://www.econbiz.de/10009293111
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Measurement of capital stock and input services of Spanish banks
Martín-Oliver, Alfredo; Salas-Fumás, Vicente; … - Banco de España - 2007
This paper contains estimates of physical and intangible (information technology, advertising and training) capital stock, together with capital, labor and externally provided input services, of Spanish commercial and saving banks in the period 1983 to 2003. Capital stocks are valued at...
Persistent link: https://www.econbiz.de/10005022267
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Why do spanish firms rarely use the bankruptcy system? The role of the mortgage institution
García-Posada, Miguel; Mora-Sanguinetti, Juan S. - Banco de España - 2012
Taking advantage of a rich database of more than 1 million companies in Spain, France and the U.K., we propose and test a hypothesis to explain why Spain has one of the world’s lowest business bankruptcy rates, even during the current economic crisis and after controlling for market exit...
Persistent link: https://www.econbiz.de/10010678678
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Determinants of default ratios in the segment of loans to households in Spain
Blanco, Roberto; Gimeno, Ricardo - Banco de España - 2012
In this paper we present the estimation results of a dynamic panel data model that explains the dynamic behaviour of default ratios in Spain for loans extended to the household sector. We estimate the models for two alternative definitions of default and for two different loan categories. The...
Persistent link: https://www.econbiz.de/10010678682
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Effects of equity capital on the interest rate and the demand for credit. Empirical evidence from Spanish banks
Martín-Oliver, Alfredo; Ruano, Sonia; Salas-Fumás, Vicente - Banco de España - 2012
case of large banks in the European context) for bank dynamics in complying with the new standards and for the long …-term effects on bank lending rates and the demand for bank credit. The analysis combines econometric estimations of the … the demand for bank credit, based on a parameterised model of the Spanish banking industry. We find that the gap between …
Persistent link: https://www.econbiz.de/10010678683
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Bank leverage cycles
Nuño, Galo; Thomas, Carlos - Banco de España - 2012
We study the cyclical fluctuations of leverage and assets of financial intermediaries and GDP in the United States. Leverage and assets are several times more volatile than GDP, and experience larger fluctuations for unregulated (‘shadow’) intermediaries than for regulated ones. While the...
Persistent link: https://www.econbiz.de/10010678686
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Insolvency institutions and efficiency: the Spanish case
García-Posada, Miguel - Banco de España - 2013
The paper warns about the potential efficiency losses associated with low business bankruptcy rates (number of firms filing for bankruptcy as a proportion of the total stock of firms) and shows that welfare could be improved by increasing the protection of creditors in the bankruptcy system....
Persistent link: https://www.econbiz.de/10010678693
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Financial innovation in sovereign borrowing and public provision of liquidity
Gómez-González, Patricia - Banco de España - 2015
This paper studies how financial innovation in sovereign debt markets can increase a country’s level of private investment and welfare. I propose a model where public debt has a liquidity purpose for the domestic private sector and is demanded as a saving vehicle by more patient international...
Persistent link: https://www.econbiz.de/10011255225
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The bank lending channel of unconventional monetary policy: the impact of the VLTROs on credit supply in Spain
García-Posada, Miguel; Marchetti, Marcos - Banco de España - 2015
(VLTROs) conducted by the Eurosystem in December 2011 and February 2012 for the case of Spain. To do so we use bank-firm level …-sheet strength and by including bank fixed effects. Our findings suggest that the VLTROs had a positive moderately-sized effect on … the supply of bank credit to firms, providing evidence of a bank lending channel in the context of unconventional monetary …
Persistent link: https://www.econbiz.de/10011261909