Narrow search
Showing 1 - 10 of 313
Cover Image
EU Banks Rating Assignments: Is there Heterogeneity between New and Old Member Countries?
Caporale, Guglielmo Maria; Matousek, Roman; Stewart, Chris - CESifo - 2010
differences in financial factors, which may reflect differences in country risk and the legal and regulatory framework that banks …
Persistent link: https://www.econbiz.de/10008583666
Cover Image
Time-Varying Exchange Rate Basket in China from 2005 to 2009
Fidrmuc, Jarko - CESifo - 2010
We use the Kalman filter to estimate the structure of the secret currency basket of the renminbi based on daily data between 2005 and 2009. The currency weights of selected currencies are modeled as stochastic processes (random walks). The official announcement of the new exchange rate regime in...
Persistent link: https://www.econbiz.de/10008511600
Cover Image
Time-Varying Exchange Rate Basket in China from 2005 to 2009
Fidrmuc, Jarko - 2013
We use the Kalman filter to estimate the structure of the secret currency basket of the renminbi based on daily data between 2005 and 2009. The currency weights of selected currencies are modeled as stochastic processes (random walks). The official announcement of the new exchange rate regime in...
Persistent link: https://www.econbiz.de/10013094429
Cover Image
The Role of Toeholds and Capital Gains Taxes for Corporate Acquisition Strategies
Liberini, Federica - 2016
Ownership takeovers often follow complex strategies where the control of the target firm is acquired through a sequence of independent contracts. Based on this observation, we develop a novel theoretical model wherein the acquiring firm decides on the number of steps towards the full ownership...
Persistent link: https://www.econbiz.de/10012978390
Cover Image
Flexible Prices and Leverage
D'Acunto, Francesco - 2017
The frequency with which firms adjust output prices helps explain persistent differences in capital structure across firms. Unconditionally, the most exible-price firms have a 19% higher long-term leverage ratio than the most sticky-price firms, controlling for known determinants of capital...
Persistent link: https://www.econbiz.de/10012962123
Cover Image
Home Bank Intermediation of Foreign Direct Investment
Poelhekke, Steven - CESifo - 2011
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 …
Persistent link: https://www.econbiz.de/10009147744
Cover Image
How should Financial Intermediation Services be Taxed?
Lockwood, Benjamin - CESifo - 2010
equilibrium when banks have monopoly power, justifying a Pigouvian tax in this case. …
Persistent link: https://www.econbiz.de/10008727277
Cover Image
Banking Crisis Resolution Policy - Lessons from Recent Experience - which elements are needed for robust and efficient crisis resolution?
Mayes, David G. - CESifo - 2009
The current financial crisis has sparked intense debate about how weak banks should be resolved. Despite international …
Persistent link: https://www.econbiz.de/10008583712
Cover Image
Rating Assignments: Lessons from International Banks
Caporale, Guglielmo Maria; Matousek, Roman; Stewart, Chris - CESifo - 2009
This paper estimates ordered logit and probit regression models for bank ratings which also include a country index to capture country-specific variation. The empirical findings provide support to the hypothesis that the individual international bank ratings assigned by Fitch Ratings are...
Persistent link: https://www.econbiz.de/10005000371
Cover Image
Integrating with their Feet: Cross-Border Lending at the German-Austrian Border
Fidrmuc, Jarko; Hainz, Christa - CESifo - 2008
model where banks acquire either hard or soft information of borrowing firms. We test the model’s predictions using the ifo …
Persistent link: https://www.econbiz.de/10005181385