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The Determinants of Capital Structure: Some Evidence from Banks
Heider, Florian; Gropp, Reint - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2008
bank. The results suggest that capital requirements may only be of second-order importance for banks? capital structures …
Persistent link: https://www.econbiz.de/10005097682
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How Do Banks Determine Capital? Empirical Evidence for Germany
Weber, Martin; Kleff, Volker - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2003
This paper examines how capital is determined by German banks. We analyse whether the determinants found in the previous empirical literature hold for the special German banking sector with its three characteristic banking groups of savings banks, cooperative banks and other banks. On the basis...
Persistent link: https://www.econbiz.de/10005098092
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What drives the demand of monetary financial institutions for domestic government bonds? Empirical evidence on the impact of Basel II and Basel III
Lang, Michael; Schröder, Michael - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014
This paper examines the treatment of sovereign debt exposure within the Basel framework and measures the impact of bank … regulation on the demand of Monetary Financial Institutions (MFI) for marketable sovereign debt. Our results suggest that bank …
Persistent link: https://www.econbiz.de/10011122561
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Incentive Problems in Banking Supervision: The European Case
Schüler, Martin - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2003
This paper discusses the incentive conflicts that arise in banking supervision in the EU in a principal-agent framework, where the regulator is the agent and the taxpayers is the principal. The regulatory agent in addition to maintaining financial stability (the objective of the principal) may...
Persistent link: https://www.econbiz.de/10005097935
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Corporate main bank decision
Höwer, Daniel - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
Do firms select their main bank relationship according to their risk or risk preferences? Relationship banking is … may not want to bear the additional costs. I employ a nested logit model to study the determinants of the main bank … relationship decision by newly established German firms. I find that firms that ask for bank support in case of financial distress …
Persistent link: https://www.econbiz.de/10010985659
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Size, value and liquidity: Do they really matter on an emerging stock market?
Lischewski, Judith; Voronkova, Svitlana - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010
The paper extends the evidence on the factors relevant for pricing stocks in emerging markets. While previous literature focused on Latin American and Asian developing markets, Central and Eastern European markets remain under-researched. By focusing on the Polish stock market, we aim to fill in...
Persistent link: https://www.econbiz.de/10008694113
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Higher-order beliefs among professional stock market forecasters: some first empirical tests
Rangvid, Jesper; Schmeling, Maik; Schrimpf, Andreas - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2009
A sizeable literature reports that financial market analysts and forecasters herd for reputational reasons. Using new data from a large survey of professional forecasters' expectations about stock market movements, we find strong evidence that the expected average of all forecasters' forecasts...
Persistent link: https://www.econbiz.de/10005027063
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Pension funds' performance in strongly regulated industries in Central Europe: Evidence from Poland and Hungary
Bohl, Martin T.; Lischewski, Judith; Voronkova, Svitlana - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010
This paper presents an analysis of pension funds' performance in Poland and Hungary, two Central European countries characterized by strong regulation of their private pension fund industries. Thus, the paper extends the literature which has so far mostly focused on performance of pension fund...
Persistent link: https://www.econbiz.de/10008694119
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Lessons of the financial crisis for the attractiveness of European financial centers
Lang, Gunnar - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2012
This paper analyses fundamental location factors for the financial industry by investigating the economic significance of market participants' assessments of location factors and country-specific characteristics over time. A unique data set allows studying the locational attractiveness of...
Persistent link: https://www.econbiz.de/10010957648
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What is the wind behind the sails to go abroad? Empirical evidence from the mutual fund industry
Lang, Gunnar; Schäfer, Henry - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
Specific industry factors determining cross-border business set-up in the European mutual fund industry are analyzed to contribute to the understanding of production specificities in the financial industry. The findings indicate that the decision on where to domicile a fund is not primarily...
Persistent link: https://www.econbiz.de/10010985661