Showing 1 - 10 of 185
strength and extraordinary sovereign support and provide an estimate of banks' creditworthiness. Thus, the impact of the …
Persistent link: https://www.econbiz.de/10012101174
This paper investigates how financial development affects aggregate productivity growth. Based on a sample of developed and emerging economies, we first show that the level of financial development is good only up to a point, after which it becomes a drag on growth. Second, focusing on advanced...
Persistent link: https://www.econbiz.de/10013065775
In this paper we examine the negative relationship between the rate of growth of the financial sector and the rate of growth of total factor productivity. We begin by showing that by disproportionately benefiting high collateral/low productivity projects, an exogenous increase in finance reduces...
Persistent link: https://www.econbiz.de/10013028274
I explore the effect of the threat posed by low-cost competitors on debt structure in the airline industry. I use the route network expansion of low-cost airlines to identify routes where the probability of future entry increases dramatically. I find that when strategic routes are threatened,...
Persistent link: https://www.econbiz.de/10012995469
swap lines stands out. This paper studies the build-up of stresses on banks' balance sheets that led to this coordinated … the major national banking systems. This allows us to investigate the structure of banks' global operations across their …
Persistent link: https://www.econbiz.de/10009138467
informational asymmetries. Banks can overcome these asymmetries through relationship lending, or at least mitigate their effects by … may find it difficult to raise funds from banks. In this paper, we show that even in this case, small firms may improve …
Persistent link: https://www.econbiz.de/10009138470
This paper examines the power of different contractual mechanisms to influence an originator’s choice of costly effort to screen borrowers when the originator plans to securitise its loans. The analysis focuses on three potential mechanisms: the originator holds a “vertical slice”, or...
Persistent link: https://www.econbiz.de/10009138474
This paper reviews the market reaction to bank rescue packages announced in six countries between October 2008 and January 2009. The study distinguishes the impact on creditors as seen in the change of CDS spreads from the impact on shareholders as seen in the movement of bank stock prices....
Persistent link: https://www.econbiz.de/10009138478
measures of default probabilities of individual banks and forecasted asset return correlations. Importantly, using realized … health of major US banks... …
Persistent link: https://www.econbiz.de/10009138492
Since the mid-1990s, major Japanese banks have sold off a significant portion of their holdings of corporate equity …. Using information on the identity of Japanese firms' top 10 shareholders, this paper explores the process of banks' equity … disposal. There is some evidence that, after FY2001, banks' sales of equity accelerated, even holdings in firms for which the …
Persistent link: https://www.econbiz.de/10009248805