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Liquidity, innovation, and endogenous growth
Malamud, Semyon; Zucchi, Francesca - 2016
We study optimal liquidity management, innovation, and production decisions for a continuum of firms facing financing frictions and the threat of creative destruction. We show that financing constraints lead firms to decrease production but may spur investment in innovation (R&D). We...
Persistent link: https://www.econbiz.de/10011605964
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Rethinking capital regulation: The case for a dividend prudential target
Muñoz, Manuel A. - 2020
reluctance to cut back on dividends (fall in retained earnings). First, I provide evidence of a potential link between these two … trends. When shocks hit their pro…ts, banks tend to adjust retained earnings to smooth dividends. This generates bank …
Persistent link: https://www.econbiz.de/10012422095
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Why European banks adjust their dividend payouts?
Belloni, Marco; Grodzicki, Maciej; Jarmuzek, Mariusz - 2023
signal good future profitability to shareholders to address information asymmetry, or use dividends to mitigate the agency …
Persistent link: https://www.econbiz.de/10014374416
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Evaluating the impact of dividend restrictions on euro area bank market values
Andreeva, Desislava; Bochmann, Paul; Schneider, Julius - 2023
This paper evaluates the impact of the March 2020 European Central Bank recommendation that banks do not pay dividends …
Persistent link: https://www.econbiz.de/10014374475
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Liquidity, Innovation, and Endogenous Growth
Malamud, Semyon - 2016
We study optimal liquidity management, innovation, and production decisions for a continuum of firms facing financing frictions and the threat of creative destruction. We show that financing constraints lead firms to decrease production but may spur investment in innovation (R&D). We...
Persistent link: https://www.econbiz.de/10012988600
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Rethinking Capital Regulation : The Case for a Dividend Prudential Target
Muñoz, Manuel - 2020
reluctance to cut back on dividends (fall in retained earnings). First, I provide evidence of a potential link between these two … trends. When shocks hit their profits, banks tend to adjust retained earnings to smooth dividends. This generates bank equity …
Persistent link: https://www.econbiz.de/10012829529
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Evaluating the Impact of Dividend Restrictions on Euro Area Bank Market Values
Andreeva, Desislava; Bochmann, Paul; Schneider, Julius - 2023
This paper evaluates the impact of the March 2020 European Central Bank recommenda-tion that banks do not pay dividends …
Persistent link: https://www.econbiz.de/10014254495
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Why European Banks Adjust Their Dividend Payouts?
Belloni, Marco; Grodzicki, Maciej; Jarmuzek, Mariusz - 2023
signal good future profitability to shareholders to address information asymmetry, or use dividends to mitigate the agency …
Persistent link: https://www.econbiz.de/10014258235
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The reaction of bank lending to monetary policy measures in Germany
Worms, Andreas - 2001
A crucial condition for the existence of a credit channel through bank loans is that monetary policy should be able to change bank loan supply. This paper contributes to the discussion on this issue by presenting empirical evidence from dynamic panel estimations based on a dataset that comprises...
Persistent link: https://www.econbiz.de/10011604142
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Asymmetries in bank lending behaviour. Austria during the 1990s
Kaufmann, Sylvia - 2001
This paper investigates both cross-sectional asymmetry (related to bank-specific characteristics like size and liquidity) and asymmetries over time (potentially related to the overall state of the economy) in Austrian bank lending reaction to monetary policy. The first type of asymmetry is...
Persistent link: https://www.econbiz.de/10011604143