Banking across borders has risen substantially over the past two decades. Yet there is significant heterogeneity in the international and global activities of banks across countries. This paper develops and tests a theoretical model that explains this variation from an international trade theory...

Mit ihrer sogenannten Regenschirmfunktion schützen Hausbanken Firmen in Krisen, indem sie Liquidität flexibel zur Verfügung stellen. Der Regenschirm könnte jedoch aktuell aufgrund der zu befürchtenden hohen Kreditausfälle und neuer Eigenkapitalregulierungen klemmen. Es besteht die Gefahr...

Banks in bad financial shape are more likely to appoint executive directors from the outside than those in good shape. It is, however, not clear whether all of these appointments necessarily lead to the desired turnaround. We analyze the performance effects of new board members with external...