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Liquidity and financial cycles
Adrian, Tobias; Shin, Hyun Song - Bank for International Settlements (BIS) - 2008
In a financial system where balance sheets are continuously marked to market, asset price changes show up immediately in changes in net worth, and elicit responses from financial intermediaries, who adjust the size of their balance sheets. We document evidence that marked to market leverage is...
Persistent link: https://www.econbiz.de/10005127750
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Should banks be diversified? Evidence from individual bank loan portfolios
Hasan, Iftekhar; Saunders, Anthony; Acharya, Viral V. - Bank for International Settlements (BIS) - 2002
We study empirically the effect of focus (specialization) vs. diversification on the return and the risk of banks using …) focus and diversification using a unique data set that is able to identify individual bank loan exposures to different … bank return while endogenously producing riskier loans for all banks in our sample (this effect being most powerful for …
Persistent link: https://www.econbiz.de/10005063334