This paper considers a simple model of credit risk and derives the limit distribution of losses under different … through active credit portfolio management. However, if the firm risk exposures are draws from different parameter … unexpected loss or value-at-risk. The theoretical results are confirmed empirically using returns and credit ratings for firms in …

traditional banks to modernize their core business activities. Banks attempt to confront the challenges of digitalization by … banks to form alliances with fintechs. Furthermore, we analyze whether such bank-fintech alliances affect the market … valuation of banks. We provide descriptive evidence on the different forms of alliances occurring in practice. Using hand …

The current financial crisis has sparked intense debate about how weak banks should be resolved. Despite international …

differences in financial factors, which may reflect differences in country risk and the legal and regulatory framework that banks …

equilibrium when banks have monopoly power, justifying a Pigouvian tax in this case. …

This paper investigates the benefits of banks' direct investment in foreign subsidiaries and branches for non …-financial multinationals. The paper builds on the literature on international banks which has primarily focused on the implications for host … the volume of FDI by home market banks boosts FDI by non-financial firms from the same home market. Domestic and third …

core. The estimated model matches four facts about banks’ Tobin’s Q that summarize bank leverage dynamics. (1) Book and … nor market leverage constraints are binding for most banks; (4) bank leverage and Tobin’s Q are mean reverting but highly …

us to construct a new and better financial development index which measures the level of loans extended by banks to …

Using hand-collected data spanning more than a decade on European banks' sovereign debt portfolios, we show that the … subsidiaries for several reasons, including banks' tendency to hire internally across borders for high-level managerial positions … that differs across banks headquartered in the same country, at the same point in time, with regard to the same target …