Showing 1 - 10 of 494
presence of a chief risk officer (CRO) in a bank’s executive board and whether the CRO reports to the CEO or directly to the … board of directors, are associated with a better bank performance during the financial crisis of 2007/2008. We measure bank …
Persistent link: https://www.econbiz.de/10010580915
In this paper we investigate the impact of institutional ownership on UK mergers and acquisitions. We employ a comprehensive sample of M&As conducted by UK acquirers from 2000 to 2010, thus including a full cycle of peak and trough in M&A waves. We find that institutional investors increase the...
Persistent link: https://www.econbiz.de/10011118123
bank risk spread similar to the peak value during the Global Financial Crisis, the overall effect is a decline in …
Persistent link: https://www.econbiz.de/10011077987
This paper investigates the role of credit and liquidity factors in explaining corporate CDS price changes during normal and crisis periods. We find that liquidity risk is more important than firm-specific credit risk regardless of market conditions. Moreover, in the period prior to the recent...
Persistent link: https://www.econbiz.de/10011065649
a broad panel of large US bank holding companies over the period 1997–2011, we find that both board size and independent … directors decrease bank performance. Although gender diversity improves bank performance in the pre-Sarbanes-Oxley Act (SOX … other sensitivity checks including alternative proxies for bank performance. …
Persistent link: https://www.econbiz.de/10010662598
This paper shows how main bank rent extraction affects corporate decisions about investment and financing during … financial regulatory reform. Our model predicts that limited loanable funds can initially contain main bank controlled … bank debt for downside risk” bias against the banks. A stock market and real estate boom in Japan made it harder than ever …
Persistent link: https://www.econbiz.de/10011065611
This paper presents a flexible, lattice-based structural credit risk model that uses equity market information and a detailed depiction of a financial institution’s liability structure to analyze default risk. The model is applied to examine the term structure of default probabilities for...
Persistent link: https://www.econbiz.de/10010943179
discuss their impact on bank run risk. Based on a self-collected data set surveying depositors before (2007), at (2008), and …, who carry the highest risk of triggering a bank run, was reduced around the peak of the crisis but rebounded strongly … afterwards, even exceeding pre-crisis levels. These findings point to a higher bank run risk in the aftermath than during the …
Persistent link: https://www.econbiz.de/10010738288
Prior to the 2007–2008 financial crisis, banking sector profits were very high but the profitability of financial intermediation was poor. Using a novel model of banking, this article argues that the high profits were achieved through balance sheet expansion and growing default, liquidity, and...
Persistent link: https://www.econbiz.de/10010591916
of bank lending. The analysis proposes a setup that allows testing for structural shifts in the bank lending equation … may not translate into greater credit supply until bank balance sheets are sufficiently strengthened. …
Persistent link: https://www.econbiz.de/10010595279