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Financial Leverage and Corporate Taxation: Evidence from German Corporate Tax Return Data
Dwenger, Nadja; Steiner, Viktor - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
We estimate the impact of effective profit taxation on the financial leverage of corporations on the basis of a pseudo-panel constructed from corporate tax return micro data for the period 1998-2001, a period which saw the introduction of a major corporate tax reform in Germany. The financial...
Persistent link: https://www.econbiz.de/10005068732
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Bank Lending Procyclicality and Credit Quality during Financial Crises
Caporale, Guglielmo Maria; Colli, Stefano Di; Lopez, … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2013
This paper analyses macroeconomic and financial determinants of bad loans applying a SVAR approach to investigate whether excessive loans granted during expansionary phases can explain the more than proportional increase in non-performing loans during contractionary periods. The results indicate...
Persistent link: https://www.econbiz.de/10010783998
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Volatility Patterns of CDS, Bond and Stock Markets before and during the Financial Crisis: Evidence from Major Financial Institutions
Belke, Ansgar; Gokus, Christian - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011
This study is motivated by the development of credit-related instruments and signals of stock price movements of large banks during the recent financial crisis. What is common to most of the empirical studies in this field is that they concentrate on modeling the conditional mean. However,...
Persistent link: https://www.econbiz.de/10008855329
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Evaluating Greek Equity Funds Using Data Envelopment Analysis
Babalos, Vassilios; Caporale, Guglielmo Maria; … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
funds' operational efficiency for an oligopolistic and bank-dominated fund industry. Our results have significant …
Persistent link: https://www.econbiz.de/10004963857
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Macroeconomic Uncertainty and Bank Lending: The Case of Ukraine
Talavera, Oleksandr; Tsapin, Andriy; Zholud, Oleksandr - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2006
Our study investigates the link between bank lending behavior and macroeconomic uncertainty. We develop a dynamic model … of a bank's value maximization that results in a negative relationship between loan to capital ratio and macroeconomic … in uncertainty is not uniform and depends on bank-specific characteristics. …
Persistent link: https://www.econbiz.de/10005068643
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Banking Competition, Good or Bad?: The Case of Promoting Micro and Small Enterprise Finance in Kazakhstan
Schäfer, Dorothea; Siliverstovs, Boriss; Terberger, Eva - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2005
the European Bank for Reconstruction and Development for Kazakhstan, and investigate which strategy contributes more to …
Persistent link: https://www.econbiz.de/10005068666
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How Do Insured Deposits Affect Bank Risk?: Evidence from the 2008 Emergency Economic Stabilization Act
Lambert, Claudia; Noth, Felix; Schüwer, Ulrich - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2013
$100,000 to $250,000 per depositor and bank. For some banks, the amount of insured deposits increased significantly; for …
Persistent link: https://www.econbiz.de/10011128840
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Loan Loss Provision: Some Empirical Evidence for Italian Banks
Caporale, Guglielmo Maria; Alessi, Matteo; Colli, Stefano Di - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2015
This paper uses data from a panel of more than 400 Italian banks for the period 2001 – 2012 to examine the main determinants of loan loss provision (LLP), which are classified as either discretionary (income smoothing, capital management,signalling) or non-discretionary (related to the...
Persistent link: https://www.econbiz.de/10011196045
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How Has the Global Financial Crisis Affected Syndicated Loan Terms in Emerging Markets?: Evidence from China
Caporale, Guglielmo Maria; Lodh, Suman; Nandy, Monomita - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2015
This paper examines the impact of the recent global financial crisis on the cost of debt capital (syndicated loans) in a leading emerging market, namely China, using difference-in-differences and GARCH approaches. Before the crisis China adopted banking reforms allowing entry of foreign banks...
Persistent link: https://www.econbiz.de/10011276389
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Why Do Firms Switch Their Main Bank?: Theory and Evidence from Ukraine
Stephan, Andreas; Tsapin, Andriy; Talavera, Oleksandr - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
We examine why firms change their main bank and how this affects loans, interest payments and firm performance after … switching. Using unique firm-bank matched Ukrainian data, the treatment effect estimates suggest that more transparent and … riskier companies are more likely to switch their main bank. Importantly, main bank power, measured by equity holdings …
Persistent link: https://www.econbiz.de/10005068870