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Interbank Market Integration, Loan Rates, and Firm Leverage
Ongena, Steven - 2010
We study the effect of interbank market integration on small firm finance in the build-up to the 2007-2008 financial crisis. We use a comprehensive data set that contains contract terms on individual loans to 6,047 firms across 14 European countries between 1998:01 and 2005:12. We account for...
Persistent link: https://www.econbiz.de/10013137713
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Interbank market integration, loan rates, and firm leverage
Ongena, Steven; Popov, Alexander - 2010
We study the effect of interbank market integration on small firm finance in the build-up to the 2007-2008 financial crisis. We use a comprehensive data set that contains contract terms on individual loans to 6,047 firms across 14 European countries between 1998:01 and 2005:12. We account for...
Persistent link: https://www.econbiz.de/10011605298
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Bridging the Banking Sector with the Real Economy : A Financial Stability Perspective
Costeiu, Adrian - 2013
This paper builds a macro-prudential tool designed to assess whether the banking sector is adequately prepared to orderly withstand losses resulting from normal or stressed macroeconomic and micro-economic scenarios. The link between the banking sector and the real sector is established via the...
Persistent link: https://www.econbiz.de/10013075928
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Organisational Structure as a Driver of Mergers and Acquisitions in the European Banking Sector
Lebastard, Laura - 2022
This paper studies the bilateral drivers of mergers and acquisitions (M&As) between European banks. Two findings document that banks use M&A as a device to leverage their expertise rather than to diversify. (i) Following the literature on matrimonial matching by using a binary logit model, the...
Persistent link: https://www.econbiz.de/10013405075
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Systemic Risk Rankings and Network Centrality in the European Banking Sector
Bruyckere, Valerie De - 2015
This paper presents a methodology to calculate the Systemic Risk Ranking of financial institutions in the European banking sector using publicly available information. The proposed model makes use of the network structure of financial institutions by including the stock return series of all...
Persistent link: https://www.econbiz.de/10013014960
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Mergers and acquisitions and bank performance in Europe: the role of strategic similarities
Altunbas, Yener; Marqués-Ibáñez, David - 2004
-merger financial performance. We find that, on average, bank mergers in the European Union resulted in improved return on capital. By …
Persistent link: https://www.econbiz.de/10011604444
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The Janus-Headed Salvation : Sovereign and Bank Credit Risk Premia during 2008-09
Ejsing, Jacob - 2012
financial institutions. In this paper, we put the joint response of euro area bank and sovereign CDS premia under the microscope …. We find that the bank rescue packages led to a clear structural break in these premia's comovement, which had been rather … to any further aggravation of the crisis. At the same time, the sensitivity of bank credit risk premia declined and …
Persistent link: https://www.econbiz.de/10013116569
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Macro-Networks : An Application to the Euro Area Financial Accounts
Castren, Olli - 2013
We use financial accounts data at sector level to construct financial networks for individual euro area countries. We then connect the country-level networks to one large “Macro Network”, using information on cross-border linkages between the national banking sectors. We then evaluate the...
Persistent link: https://www.econbiz.de/10013087568
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Short-Term Determinants of the Idiosyncratic Sovereign Risk Premium : A Regime-Dependent Analysis for European Credit Default Swaps
Calice, Giovanni - 2014
This study investigates the dynamics of the sovereign CDS term premium for five European countries. The CDS term premium can be regarded as a forward-looking measure of idiosyncratic sovereign default risk as perceived by financial markets. Using a Markov-switching unobserved component model, we...
Persistent link: https://www.econbiz.de/10013049575
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Bank Risk During the Financial Crisis : Do Business Models Matter?
Altunbas, Yener - 2011
We exploit the 2007-2009 financial crisis to analyze how risk relates to bank business models. Institutions with higher …. Business models related to significantly reduced bank risk were characterized by a strong deposit base and greater income …
Persistent link: https://www.econbiz.de/10013119519