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External financing and economic activity in the euro area : why are bank loans special?

Aldasoro, Iñaki; Unger, Robert - 2017

Using a Bayesian vector autoregression (BVAR) identified with a mix of sign and zero restrictions, we show that a restrictive bank loan supply shock has a strong and persistent negative impact on real GDP and the GDP deflator. This result comes about even though flows of other sources of...

Persistent link: https://www.econbiz.de/10011632175

Basel III and SME bank finance in Germany

Marek, Philipp; Stein, Ingrid - 2022

This paper examines how Basel III capital reforms affected bank lending in Ger- many. We focus on the increase of minimum risk-based capital requirements and the introduction of the leverage ratio. The announcement of stricter risk-based capital regulation significantly affected low capitalized...

Persistent link: https://www.econbiz.de/10013399771

Cyclicality of SME lending and government involvement in banks

Behr, Patrick; Foos, Daniel; Norden, Lars - 2015

on financial stability and the real economy. We investigate the cyclicality of SME lending by local banks with vs …

Persistent link: https://www.econbiz.de/10011391616

Lending relationships in Germany : empirical evidence from survey data

Harhoff, Dietmar - 1998

Persistent link: https://www.econbiz.de/10013428157

Support for the SME supporting factor : multi-country empirical evidence on systematic risk factor for SME loans

Dietsch, Michel; Düllmann, Klaus; Fraisse, Henri; … - 2016

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 …

Persistent link: https://www.econbiz.de/10011564456

The commitment role of equity financing

Fahn, Matthias; Wamser, Georg; Merlo, Valeria - 2017

Existing theories of a firm's optimal capital structure seem to fail in explaining why many healthy and profitable firms rely heavily on equity financing, even though benefits associated with debt (like tax shields) appear to be high and the bankruptcy risk low. This holds in particular for...

Persistent link: https://www.econbiz.de/10011705222

Interactions between bank levies and corporate taxes : how is bank leverage affected?

Bremus, Franziska; Schmidt, Kirsten; Tonzer, Lena - 2020

Regulatory bank levies set incentives for banks to reduce leverage. At the same time, corporate income taxation makes funding through debt more attractive. In this paper, we explore how regulatory levies affect bank capital structure, depending on corporate income taxation. Based on bank balance...

Persistent link: https://www.econbiz.de/10012256502

Patent collateral and access to debt

Bracht, Felix; Czarnitzki, Dirk - 2022 - This version: August 3, 2022

We investigate how intangible capital in form of intellectual property, such as patents, might mitigate financing constraints. While scholars have already argued that patents might have a signalling value reducing information asymmetries between borrowers and lenders, we quantify the value of...

Persistent link: https://www.econbiz.de/10013346735

The signaling value of legal form in debt financing

Bracht, Felix; Mahieu, Jeroen; Vanhaverbeke, Steven - 2023

Persistent link: https://www.econbiz.de/10014265699

Bank leverage cycles and the external finance premium

Rannenberg, Ansgar - 2013

By combining the approaches of Gertler and Karadi (2011) and Bernanke et al. (1999), I develop a DSGE model with leverage constraints both in the banking and in the non-financial firm sector. I calibrate this "full model" to US data. In a world with only a monetary policy and a productivity...

Persistent link: https://www.econbiz.de/10010238505