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Taming overconfident CEOs through stricter financial regulation
Kassner, Bernhard - 2023
paper shows that financial regulation can be effective at mitigating this type of risk. Exploiting regulatory changes … financial institutions subject to stricter regulation. Following the easing of these regulations, overconfidence-induced risk …-taking increases again. These findings confirm the effectiveness of financial regulation at correcting overconfident behavior, but also …
Persistent link: https://www.econbiz.de/10014477386
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Freeze! : financial sanctions and bank responses
Efing, Matthias; Goldbach, Stefan; Nitsch, Volker - 2019
We study the effects of financial sanctions on cross-border credit supply. Using a differences-in-differences approach to analyze eleven sanctions episodes between 2002 and 2015, we find that banks located in Germany reduce their positions in countries with sanctioned entities by 38%. The...
Persistent link: https://www.econbiz.de/10012230708
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Freeze! : financial sanctions and bank responses
Efing, Matthias; Goldbach, Stefan; Nitsch, Volker - 2018
We study the effects of financial sanctions on cross-border credit supply. Using a differences-in-differences approach to analyze eleven sanctions episodes between 2002 and 2015, we find that banks located in Germany reduce their positions in countries with sanctioned entities by 38%. The...
Persistent link: https://www.econbiz.de/10011938062
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Voluntary equity, project risk, and capital requirements
Haufler, Andreas; Lülfesmann, Christoph - 2022 - This version: December 2022
We introduce a model of the banking sector that formally incorporates a buffer function of capital. Heterogeneous banks choose their portfolio risk, bank size, and capital holdings. Banks voluntarily hold equity when the buffer effect against the risk of default outweighs the cost advantages of...
Persistent link: https://www.econbiz.de/10014476708
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Maximal fines and corruption : an experimental study on illegal waste disposal
Abatemarco, Antonio; Cascavilla, Alessandro; Dell' … - 2023
Persistent link: https://www.econbiz.de/10014566151
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Banks and sovereign risk : a granular view
Buch, Claudia M.; Koetter, Michael; Ohls, Jana - 2013
In this paper, we use detailed data on the sovereign debt holdings of all German banks to analyse the determinants of sovereign debt exposures and the implications of sovereign exposures for bank risk. Our main findings are as follows. First, sovereign bond holdings are heterogeneous across...
Persistent link: https://www.econbiz.de/10009787584
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Contingent convertible bonds and the stability of bank funding : the case of partial writedown
Bleich, Dirk - 2014
This paper adds to the growing body of literature on the design of Contingent Convertible Bonds (CoCos). We discuss how the design of the loss absorption mechanism affects the stability of bank funding and distinguish between Conversion-to-Equity (CE) CoCos, Principal WriteDown (PWD) CoCos with...
Persistent link: https://www.econbiz.de/10010432251
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CDS market structure and bond spreads
Bilan, Andrada; Gündüz, Yalın - 2022
We study the response of bond spreads to a liquidity supply shock in the credit default swap (CDS) market. Our identification strategy exploits the exogenous exit of a large dealer from the single-name CDS market as well as granular data on CDS transactions and bond portfolio holdings of German...
Persistent link: https://www.econbiz.de/10013259649
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Impacts of subsidized credit on the optimum level of post-crisis investment of Brazilian firms
Alves, Patrick Franco; Silva, Ludmilla Lorrany Mattos; … - 2018
Firms' investment decisions involve analyzing prices, products, technologies, productive capacity and the availability of credit. These and other factors were greatly impacted by the 2009 post-crisis economic environment in Brazil. We measure the after crisis impacts of subsidized credit on the...
Persistent link: https://www.econbiz.de/10012061259
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Effects of bank capital requirement tightenings on inequality
Eickmeier, Sandra; Kolb, Benedikt; Prieto, Esteban - 2019
by more than those of poorer households. The monetary policy easing after the regulation is shown to contribute to the …
Persistent link: https://www.econbiz.de/10011962786