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unique data set that covers almost all bank-firm relationships in Italy in the period 2004-2013, we find that, during the …
Persistent link: https://www.econbiz.de/10012958446
The paper analyzes the interplay of product market competition and governance on CEO compensation in Italian listed firms from 2000 to 2011 and tests the impact of the 2007-08 financial crisis on pay-performance sensitivity. We argue that important differences both in the level of compensation...
Persistent link: https://www.econbiz.de/10013020525
This paper examines the impact of the recent global financial crisis on the cost of debt capital (syndicated loans) in a leading emerging market, namely China, using difference-in-differences and GARCH approaches. Before the crisis China adopted banking reforms allowing entry of foreign banks...
Persistent link: https://www.econbiz.de/10013021756
Bank intermediated finance has been cited frequently as the preferred means for channeling funds from savers to firms … assertions about the considerable power of German banks and the advantages of a bank relation, empirical support is mixed. With a … unique dataset and a focus on the fragility/sturdiness of inferences, this paper evaluates German bank influence in terms of …
Persistent link: https://www.econbiz.de/10005094259
The increasing pervasiveness of technology-driven firms that offer banking services has led to a growing pressure on traditional banks to modernize their core business activities. Many banks tackle the challenges of digitalization by cooperating with startup firms that offer technology-driven...
Persistent link: https://www.econbiz.de/10012851315
A puzzling but consistent result in the empirical literature on banking is that firms with close bank ties do not grow … faster than bank-independent firms. In this paper, we reconsider the link between relationship lending and firms' growth … and health status. We explore the influence of long-lasting bank relationships on employment and asset growth of a large …
Persistent link: https://www.econbiz.de/10013141411
volatility of growth and profitability are bank-size dependent, and (iii) the relationship between growth and profitability of a … bank. Using a dynamic panel model estimated by GMM for a mixed sample of more than 1500 banks from 65 countries, we find no … evidence of persistence in bank growth. However, our findings suggest significant persistence in bank profitability. Moreover …
Persistent link: https://www.econbiz.de/10008572506
This paper analyzes the effect of the removal of government guarantees on bank risk taking. We exploit the removal of …
Persistent link: https://www.econbiz.de/10013055384
We use payroll data on 1.2 million bank employee years in the Austrian, German, and Swiss banking sector to identify … document an economically significant correlation of incentive pay with both the level and volatility of bank trading income … bonus share in the capital markets divisions with the strength of incentive pay in unrelated bank divisions like retail …
Persistent link: https://www.econbiz.de/10013045935
We study the role of labour and credit market imperfections in the determination of equilibrium unemployment. In the credit market, loan contracts are negotiated between financiers and firms, both of which have bargaining power, while firms and organized labour bargain over the base wage. The...
Persistent link: https://www.econbiz.de/10012778828