Showing 1 - 10 of 2,643
I conclude from that that the variant with uncertainty averse investors is more suitable to analyze policy implications. This paper therefore provides a model, in which the outright purchase of troubled assets by the government at prices above current market prices may both alleviate the...
Persistent link: https://www.econbiz.de/10012463577
During extreme financial crises, all of a sudden, the financial world that was once rife with profit opportunities for financial institutions (banks, for short) becomes exceedingly complex. Confusion and uncertainty follow, ravaging financial markets and triggering massive flight-to-quality...
Persistent link: https://www.econbiz.de/10012463652
to profitable firms in a crisis. Using detailed credit register information for Italian banks before and after the Lehman … theories of relationship banking. Our empirical analysis confirms the basic prediction of the model that relationship banks … suffered fewer defaults, thus confirming the informational advantage of relationship banking …
Persistent link: https://www.econbiz.de/10012459195
exploiting linkages through BHC-internal capital markets across spatially-separate BHC member-banks. We estimate that retrenching …
Persistent link: https://www.econbiz.de/10012456534
This article examines the practice of tying,' which occurs when an underwriter lends to an issuer around the time of a public securities offering. We examine whether there are efficiencies from tying lending and underwriting which lead to benefits for issuers and underwriters. We find evidence...
Persistent link: https://www.econbiz.de/10012468202
the Argentine banking system. We devote most of our attention to the privatization of the provincial banks. Our story …
Persistent link: https://www.econbiz.de/10012470723
We offer a new explanation of loan syndicate structure based on banks' comparative advantage in managing systematic liquidity risk. When a syndicated loan to a rated borrower has systematic liquidity risk, the fraction of passive participant lenders that are banks is about 8% higher than for...
Persistent link: https://www.econbiz.de/10012464844
This study examines the link between credit supply and hospital health outcomes. Using detailed data on hospitals and … the banks that they borrow from, we use bank stress tests as exogenous shocks to credit access for hospitals that have … margins in response to a negative credit shock, but reduce the quality of their care to patients across a variety of measures …
Persistent link: https://www.econbiz.de/10012510587
investigate how banks allocate limited capital among the various activities, as well as how they choose their capital structure … the cyclical behavior of credit and investment, but also accounts for the fundamental instability of banks operating in …
Persistent link: https://www.econbiz.de/10012463705
21st century banks, but funding liquidity from lines of credit and loan commitments has become more important. Banks also …
Persistent link: https://www.econbiz.de/10012464848