changing reality calls for a new majority-minority theory and argue that the moral justifications for cultural minority rights … the argument is rooted in a unique framework to address majority-minority constellations. This "intergroup differentiation …

the purpose of sub- and super-majority rules to protect legitimate minority interests. We study how voting rules are … minority, towards majority voting or towards status-quo preserving rules, they only imperfectly reflect the distributions of …

degree of centralisation. Whereas no such bank exists in the UK any longer and real savings banks in Spain have almost …. Short operational and (especially) functional distance and embeddedness in supportive regional bank associations. Short … regional level and reduce the need for standardisation, centralisation and bank mergers in times when interest rates are low. …

This paper examines how Basel III capital reforms affected bank lending in Ger- many. We focus on the increase of …-based capital regulation significantly affected low capitalized banks. The impact depends on a bank's credit risk model, i ….e. whether a bank applies the standardized approach (SA) or an internal ratings-based approach (IRBA) to determine risk weights …

Recent regulatory efforts aim at lowering the cyclicality of bank lending because of its potential detrimental effects … on financial stability and the real economy. We investigate the cyclicality of SME lending by local banks with vs …

). Key contributions are the use of a unique data set of SME lending by over 400 German banks and relating systematic risk to … granted in Basel II for SMEs relative to large firms. For SME loans in the corporate portfolio of the Internal Ratings …-Based Approach and also for SME loans treated under the revised standardized approach of Basel II, our asset correlation estimates …

consistency of own funds requirements with the riskiness of SME. In both the French and the German sample, results suggest that … the relative differences between the capital requirements for large corporates and those for SME (in other words the … capital relief for SME) are lower in the Basel III framework than implied by empirically estimated asset correlations. Results …