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Expected Credit Loss Modeling from a Top-Down Stress Testing Perspective
Gross, Marco - 2020
-down solvency stress tests. The tool suite serves as an illustration for institutions wishing to include accounting-based approaches …
Persistent link: https://www.econbiz.de/10012826035
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Bank Solvency and Funding Cost : New Data and New Results
Schmitz, Stefan W. - 2017
This paper presents new evidence on the empirical relationship between bank solvency and funding costs. Building on a … a simultaneous equation approach to estimate the contemporaneous interaction between solvency and liquidity. Our results … show that liquidity and solvency interactions can be more material than suggested by the existing empirical literature. A …
Persistent link: https://www.econbiz.de/10012955175
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Corporate Sector Vulnerabilities in Ireland
Klein, Nir - 2016
The paper uses both macro- and micro-level data to assess how has the financial health of the Irish non-financial corporate (NFC) sector changed in the post financial crisis period. The analysis suggests that vulnerabilities have generally declined in recent years, but the NFC sector and...
Persistent link: https://www.econbiz.de/10012977757
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What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies
Ayala, Diana - 2015
This paper studies the determinants of shifts in debt composition among EM non-financial corporates. We show that institutions and macro fundamentals create an enabling environment for bond market development. During the recent boom episode, however, global cyclical factors accounted for most of...
Persistent link: https://www.econbiz.de/10013016610
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How Does Post-Crisis Bank Capital Adequacy Affect Firm Investment?
Sun, Yangfan - 2015
We examine the effect of bank capital levels on firm investment drawing on a sample of 11,106 non-financial firms from 2007 to 2013 in 16 advanced economies. We examine two measures of bank capital adequacy, the Tier 1 ratio and a simple leverage ratio, and find that firms with larger external...
Persistent link: https://www.econbiz.de/10013019029
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Leverage Shocks : Firm-Level Evidence on Debt Overhang and Investment
Cevik, Serhan; Miryugin, Fedor - 2021
The global economy is in the midst of an unprecedented slump caused by the coronavirus pandemic. This systemic risk like no other at a time of record-breaking debt levels, especially among nonfinancial firms across the world, could exacerbate corporate vulnerabilities, deepen macro-financial...
Persistent link: https://www.econbiz.de/10013250075
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Pandemics and Firms : Drawing Lessons from History
Cevik, Serhan; Miryugin, Fedor - 2021
The global economy is in the midst of an unprecedented slump caused by the COVID-19 pandemic. To assess the likely evolution of nonfinancial corporate performance going forward, this paper investigates empirically the impact of past pandemics using firm-level data on more than 537,000 companies...
Persistent link: https://www.econbiz.de/10013250085
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Flattening the Insolvency Curve : Promoting Corporate Restructuring in Asia and the Pacific in the Post-C19 Recovery
Bauer, A.; Craig, R.; Garrido, José; Kang, Kenneth; … - 2021
The Coronavirus disease (COVID-19) triggered a sharp contraction of economic activity across Asia and the Pacific. Policymakers adopted a 'whatever it takes' approach in their initial response, relying mainly on liquidity support to help firms survive the shock. This paper discusses how the...
Persistent link: https://www.econbiz.de/10013243068
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The COVID-19 Impact on Corporate Leverage and Financial Fragility
Haque, Sharjil; Varghese, Richard - 2022
We study the impact of the COVID-19 recession on capital structure of publicly listed U.S. firms. Our estimates suggest leverage (Net Debt/Asset) decreased by 5.3 percentage points from the pre-shock mean of 19.6 percent, while debt maturity increased moderately. This de-leveraging effect is...
Persistent link: https://www.econbiz.de/10013299034
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A Balance-Sheet Analysis of the Dutch Economy
Chen, Ruo - 2022
The Dutch economy is characterized by substantial financial balance sheets in the private sector. Uncommonly large gross financial assets and liabilities are found in the financial sector, whereas households own significant net financial wealth. The large gross financial assets and liabilities...
Persistent link: https://www.econbiz.de/10013306734