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Cumming, Douglas J.; Hornuf, Lars - 2020

Peer-to-business lending refers to online platforms facilitating loans from individuals to smalland medium-sized enterprises (SMEs). We conjecture that easy-to-understand risk ratings conveyed by the platform play a pronounced role in influencing the borrowing success of SMEs and that more...

Persistent link: https://www.econbiz.de/10012179899

Marketplace Lending of SMEs

Cumming, Douglas J. - 2020

Peer-to-business lending refers to online platforms facilitating loans from individuals to small and medium-sized enterprises (SMEs). We conjecture that easy-to-understand risk ratings conveyed by the platform play a pronounced role in influencing the borrowing success of SMEs and that more...

Persistent link: https://www.econbiz.de/10012841146

The Financial and Non-Financial Performance of Token-Based Crowdfunding: Certification Arbitrage, Investor Choice, and the Optimal Timing of ICOs

Dombrowski, Niclas; Drobetz, Wolfgang; Hornuf, Lars; … - 2023

What role does the selection of an investor and the timing of financing play in initial coin offerings (ICOs)? We investigate the operating and financial performance of ventures conducting ICOs with different types of investors at different points in the ventures' life cycle. We find that,...

Persistent link: https://www.econbiz.de/10014290303

Banks' Portfolio of Government Debt and Sovereign Risk

Afonso, António; Alves, José; Monteiro, Sofia - 2023

We analyze domestic, foreign, and central banks holdings of public debt for 31 countries for the period of 1989-2022, applying panel regressions and quantile analysis. We conclude that an increase in sovereign risk raises the share of domestic banks' portfolio of public debt and reduces the...

Persistent link: https://www.econbiz.de/10014469694

The Financial and Non-Financial Performance of Token-Based Crowdfunding : Certification Arbitrage, Investor Choice, and the Optimal Timing of ICOs

Dombrowski, Niclas; Drobetz, Wolfgang; Hornuf, Lars; … - 2023

Persistent link: https://www.econbiz.de/10014355191

Investor Tax Breaks and Financing for Start-Ups: Evidence from China

Güçeri, İrem; Hou, Xipei; Xing, Jing - 2024

We examine how investor-level tax incentives affect financing for start-ups using the introduction of a generous tax deduction for qualified angel and VC investment in China as a quasi-natural experiment. We find that the tax incentive increases funding for eligible start-ups, with stronger...

Persistent link: https://www.econbiz.de/10015047220

On the preferences of CoCo bond buyers and sellers: a logistic regression analysis

Caporale, Guglielmo Maria; Kang, Woo-Young - 2019

This paper estimates the preference scores of CoCo bond buyers and sellers by running logistic regressions taking into account both bond and issuing bank’s characteristics, and also considers the role of country−specific CoCo bond market competitiveness. Buyers are found to be characterised...

Persistent link: https://www.econbiz.de/10012018242

Bank Capital Regulation with an Opportunistic Rating Agency

Efing, Matthias - 2013

This paper models the strategic interaction between a rating agency, a bank and a bank regulator who lacks information … rating-independent capital requirements. Truthful ratings provide efficiency gains because they allow the regulator to … rating agency and the bank corrupts rating quality, rating-independent regulation enhances welfare. The welfare benefits are …

Persistent link: https://www.econbiz.de/10010316997

Pooling, tranching and credit expansion

Bougheas, Spiros - 2012

Traditionally banks have used securitization for expanding credit and thus their profitability. It has been well documented that, at least before the 2008 crisis, many banks were keeping a high proportion of the securities that they created on their own balance-sheets. Those securities retained...

Persistent link: https://www.econbiz.de/10010283592

On the Preferences of CoCo Bond Buyers and Sellers

Caporale, Guglielmo Maria - 2020

This paper estimates the preference scores of CoCo bond buyers and sellers by running multinomial logistic regressions taking into account both bond and issuing banks' characteristics; it also provides evidence on the role of country−specific CoCo bond market concentration. Buyers are defined...

Persistent link: https://www.econbiz.de/10012849808

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