Showing 1 - 10 of 89
evidence reveals that (i) the top three banks, RBC Financial Group, TD Bank Financial Group, and Scotiabank are more …
Persistent link: https://www.econbiz.de/10009326653
have a funding advantage over small banks after controlling for bank-specific and market risk factors. Working with hand …
Persistent link: https://www.econbiz.de/10010723573
Many countries prohibit large shareholdings in their domestic banks. The authors examine whether such a restriction restrains competition in a duopolistic loan market. Blockholders may influence managers' output decisions by choosing capital structure, as in Brander and Lewis (1986). For the...
Persistent link: https://www.econbiz.de/10005162422
Burkart and Ellingsen's (2004) model of trade credit and bank credit rationing predicts that trade credit will be used … by medium-wealth and low-wealth firms to help ease bank credit rationing. The author tests these and other predictions of …-wealth firms substitute trade credit for bank credit consistent with using it to alleviate bank credit rationing. The low …
Persistent link: https://www.econbiz.de/10005162524
The recent crisis has underlined the importance of sound bank liquidity management. In response, regulators are … authors analyse the impact of liquid asset holdings on bank profitability for a sample of large U.S. and Canadian banks … that this relationship varies depending on a bank’s business model and the state of the economy. These results are …
Persistent link: https://www.econbiz.de/10008765829
this natural experiment to evaluate the consequences of bail out expectations for bank behavior using a difference in …
Persistent link: https://www.econbiz.de/10010559813
. We apply this framework to the Bank of Canada's Business Outlook Survey by describing the sampling method in terms of … simulations on a comprehensive micro-dataset of Canadian firms. We find, under certain assumptions, no evidence that the Bank …
Persistent link: https://www.econbiz.de/10005698402
The authors describe the liabilities model of the Exchange Fund Account (EFA). The EFA is managed using an asset-liability matching framework that requires currency and duration matching of both sides of the balance sheet. The model chooses the mix of liabilities across instruments and tenors...
Persistent link: https://www.econbiz.de/10009395393
This paper studies the impact of market timing on Canadian firms' capital structure and makes a comparison with U.S. firms. There is no evidence that market timing affects Canadian firms' capital structure in the same manner as it affects their U.S. counterparts. The effect of past equity issues...
Persistent link: https://www.econbiz.de/10005673286
The proportion of assets held by the average Canadian firm in the form of cash has increased steadily since the early 1990s, and is now roughly twice as large as in 1990. The literature has established that the cash-holding behaviour of firms is highly correlated with financial constraints and...
Persistent link: https://www.econbiz.de/10005808263