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How does competition affect efficiency and soundness in banking? : new empirical evidence
Schaeck, Klaus (contributor); Čihák, Martin (contributor) - 2008
A growing body of literature indicates that competition increases bank soundness. Applying an industrial organization based approach to large data sets for European and U.S. banks, we offer new empirical evidence that efficiency plays a key role in the transmission from competition to soundness....
Persistent link: https://www.econbiz.de/10003789457
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Euro area banking sector integration : using hierarchical cluster analysis techniques
Sørensen, Christoffer Kok (contributor);  … - 2006
In this study we apply cluster analysis techniques, including a novel smoothing method, to detect some basic patterns and trends in the euro area banking sector in terms of the degree of homogeneity of countries. We find that in the period 1998-2004 the banking sectors in the euro area countries...
Persistent link: https://www.econbiz.de/10003337152
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Probability of informed trading on the euro overnight market rate : an update
Idier, Julien; Nardelli, Stefano - 2008
In this paper the probability of informed trading (PIN) model developed by Easley and O'Hara (1992) is applied to analyze the role and impact of heterogeneities in euro overnight unsecured market. The empirical assessment of the functioning of this market is based on the PIN which measures the...
Persistent link: https://www.econbiz.de/10003826076
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A new approach to measuring competition in the loan markets of the euro area
Leuvensteijn, Michiel van; Bikker, Jacob A.; Rixtel, … - 2007
on the lending markets in the five major EU countries as well as, for comparison, the UK, the US and Japan. Bearing the …, whereas overall loan markets in Germany and Spain were among the best competitive in the EU. The Netherlands occupied a more …
Persistent link: https://www.econbiz.de/10003484173
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What drives EU banks' stock returns? : bank-level evidence using the dynamic dividend-discount model
Castrén, Olli (contributor);  … - 2006
a decomposition of EU banks.stock returns to cash-flow and expected return news components. The main findings are that … while the bulk of the variability of EU banks.stock returns is due to cash flow shocks, the expected return shocks are … explain a higher share of the cash-flow component of the total excess returns for smaller than for larger EU banks. This …
Persistent link: https://www.econbiz.de/10003375090
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Financial factors in economic fluctuations
Christiano, Lawrence J.; Motto, Roberto; Rostagno, Massimo - 2010
We augment a standard monetary DSGE model to include a banking sector and financial markets. We fit the model to Euro Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that alter the perception of market risk and hit financial...
Persistent link: https://www.econbiz.de/10003973320
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Banking sector output measurement in the euro area : a modified approach
Colangelo, Antonio; Inklaar, Robert - 2010
Banks do not charge explicit fees for many of the services they provide but the service payment is bundled with the offered interest rates. This output therefore has to be imputed using estimates of the opportunity cost of funds. We argue that rather than using the single short-term, low-risk...
Persistent link: https://www.econbiz.de/10003973506
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Efficiency and risk in european banking
Fiordelisi, Franco; Marqués Ibáñez, David; Molyneux, … - 2010
We analyze the impact of efficiency on bank risk. We also consider whether bank capital has an effect on this relationship. We model the inter-temporal relationships among efficiency, capital and risk for a large sample of commercial banks operating in the European Union. We find that reductions...
Persistent link: https://www.econbiz.de/10003973573
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The determinants of bank capital structure
Gropp, Reint; Heider, Florian - 2009
The paper shows that mispriced deposit insurance and capital regulation were of second order importance in determining the capital structure of large U.S. and European banks during 1991 to 2004. Instead, standard cross-sectional determinants of non-financial firms' leverage carry over to banks,...
Persistent link: https://www.econbiz.de/10003963775
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Bank heterogeneity and monetary policy transmission
Brissimis, Sophocles N.; Delēs, Manthos D. - 2010
Heterogeneity in the response of banks to a change in monetary policy is an important element in the transmission of this policy through banks. This paper examines the role of bank liquidity, capitalization and market power as internal factors influencing banks' reaction in terms of lending and...
Persistent link: https://www.econbiz.de/10008657136