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Managerial style and bank loan contracting
Francis, Bill B.; Hasan, Iftekhar; Zhu, Yun - Suomen Pankki - 2013
This paper provides direct evidence that managerial style is a key determinant of the firm’s cost of capital, in the context of private debt contracting. Applying the novel empirical method by Abowd, Karmarz, and Margolis (1999) to a large sample that tracks job movement of top managers, we...
Persistent link: https://www.econbiz.de/10010720138
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Corporate boards and bank loan contracting
Francis, Bill; Hasan, Iftekhar; Koetter, Michael; Wu, Qiang - Suomen Pankki - 2012
We investigate the role of corporate boards in bank loan contracting. We find that when corporate boards are more … other board characteristics influence bank loan prices. However, they do not consistently affect all nonprice loan terms …
Persistent link: https://www.econbiz.de/10010548600
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Cross-border bank M&As and risk: evidence from the bond market
Choi, Sungho; Francis, Bill B; Hasan, Iftekhar - Suomen Pankki - 2010
The impact of cross-border bank M&As on bank risk remains an open question. Though geographically diversifying bank M …&As have the potential to reduce the risk of bank insolvency, they also have the potential to increase that risk due to the … increase in risk-taking incentives for bank managers and stockholders following these transactions. This paper empirically …
Persistent link: https://www.econbiz.de/10008626085
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The government’s role in government-owned banks
Shen, Chung-Hua; Hasan, Iftekhar; Lin, Chih-Yung - Suomen Pankki - 2013
are required to purchase a distressed bank because of political factors (the government’s role), their performances are at …
Persistent link: https://www.econbiz.de/10010698834
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Agency Cost of Debt and Lending Market Competition: A Re-Examination
Koskela, Erkki; Stenbacka, Rune - Suomen Pankki - 2000
We address how lending market competition, measured by banks’ bargaining power, affects the agency costs of debt finance. We show that the threshold for obtaining loan finance is independent of the relative bargaining power of the financier. Moreover, intensified lending market competition...
Persistent link: https://www.econbiz.de/10005190771
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Bank ownership and efficiency in China: what lies ahead in the world’s largest nation?
Berger, Allen N; Hasan, Iftekhar; Zhou, Mingming - Suomen Pankki - 2007
owners can increase Chinese bank efficiency. These findings suggest that minority foreign ownership of the big four is likely …
Persistent link: https://www.econbiz.de/10005419687
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Cross-Border Performance in European Banking
Hasan, Iftekhar; Lozano-Vivas, Ana; Pastor, Jesús T. - Suomen Pankki - 2000
Recent cross-country comparisons of bank efficiency have been based on pooled estimates of banks across countries and …
Persistent link: https://www.econbiz.de/10005423697
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Further evidence on the link between finance and growth: An international analysis of community banking and economic performance
Berger, Allen N.; Hasan, Iftekhar; Klapper, Leora F. - Suomen Pankki - 2004
found for hypothesized transmission mechanisms through improved financing for SMEs or greater overall bank credit flows. The …
Persistent link: https://www.econbiz.de/10005649013
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The cost of sin: The effect of social norms on audit pricing
Leventis, Stergios; Hasan, Iftekhar; Dedoulis, Emmanouil - Suomen Pankki - 2013
In this paper we provide evidence for the effects of social norms on audit pricing by studying companies belonging to the alcohol, firearms, gambling, military, nuclear power, and tobacco industries, which are often described as “sin” companies. We hypothesize that the disparities between...
Persistent link: https://www.econbiz.de/10010818972
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Do corporate boards affect firm performance? New evidence from the financial crisis
Francis, Bill; Hasan, Iftekhar; Wu, Qiang - Suomen Pankki - 2012
This study uses the current financial crisis as a quasi-experiment to examine whether and to what extent corporate boards affect the performance of firms. Using cumulative stock returns over the crisis to measure of firm performance, we find that board independence, as traditionally defined,...
Persistent link: https://www.econbiz.de/10010542073