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Beck, Thorsten - 2004

This paper examines whether financial development boosts the growth of small firms more than large firms and hence provides information on the mechanisms through which financial development fosters aggregate economic growth. We define an industry's technological firm size as the firm size...

Persistent link: https://www.econbiz.de/10012467705

Restoring Confidence in Troubled Financial Institutions After a Financial Crisis

Calomiris, Charles W.; Carlson, Mark - National Bureau of Economic Research - 2022

actions by bank owners to change management, contract with depositors to extend liability maturity structure, write off bad … assets, and/or inject capital affected bank survival and deposit retention. This historical episode is particularly …

Persistent link: https://www.econbiz.de/10013334444

The Valuation Effects of Geographic Diversification : Evidence from U.S. Banks

Goetz, Martin Richard - 2011

This paper assesses the impact of the geographic diversification of bank holding company (BHC) assets across the United … States on their market valuations. Using two novel identification strategies based on the dynamic process of interstate bank …

Persistent link: https://www.econbiz.de/10013117404

The Effects of Reconstruction Finance Corporation Assistance on Michigan's Banks' Survival in the 1930s

Calomiris, Charles W. - 2012

bank failure rates in Michigan during the period 1932-1934, which includes the important Michigan banking crisis of early … purchases (the policy tool employed after March 1933) on bank failure rates. Our estimates treat the receipt of RFC assistance … assistance that are not directly related to failure risk) for analyzing the effects of RFC assistance on bank survival. We find …

Persistent link: https://www.econbiz.de/10013100128

Tracking Variation in Systemic Risk at Us Banks During 1974-2013

Hovakimian, Armen - 2012

to individual banks in the Merton tradition (1974) as a combination put option for the deep tail of bank losses and a … knock-in stop-loss call on bank assets. This model expresses the value of taxpayer loss exposure from a string of defaults … the face value of the debt of the entire sector. We conceive of an individual bank's systemic risk as its contribution to …

Persistent link: https://www.econbiz.de/10013107012

Can Emerging Market Bank Regulators Establish Credible Discipline? The Case of Argentina, 1992-1999

Calomiris, Charles W. - 2000

macroeconomic and bank regulatory reform. Bank regulatory policy promoted privatization, financial liberalization, and free entry …. Argentina's bank regulatory system now is widely regarded as one of the two or three most successful among emerging market …

Persistent link: https://www.econbiz.de/10012471046

Is There a Diversification Discount in Financial Conglomerates?

Laeven, Luc - 2005

This paper investigates whether the diversity of activities conducted by financial institutionsinfluences their market valuations. We find that there is a diversification discount: The marketvalues financial conglomerates that engage in multiple activities, e.g., lending and non-lendingfinancial...

Persistent link: https://www.econbiz.de/10012784437

Governance and Bank Valuation

Caprio, Gerard - 2003

supervisory/regulatory policies on bank valuations. Except in a few countries with very strong shareholder protection laws, banks … cash flow rights mitigate the adverse effects of weak shareholder protection laws on bank valuations. These results are …

Persistent link: https://www.econbiz.de/10012786320

Relationship Banking and the Pricing of Financial Services

Calomiris, Charles W. - 2010

We investigate how banking relationships that combine lending and underwriting services affect the terms of lending, through both loan supply- and loan demand-side effects, and the underwriting costs of debt and equity issues. We capture and control for firm characteristics, including...

Persistent link: https://www.econbiz.de/10012760608

Banker Fees and Acquisition Premia for Targets in Cash Tender Offers : Challenges to the Popular Wisdom on Banker Conflicts

Calomiris, Charles W. - 2009

We analyze data on fees paid to investment bankers and acquisition premia paid for targets in cash tender offers. Our results are broadly consistent with the predictions of a benign view of the role of investment banks in advising acquisition targets. Fees to investment banks are correlated with...

Persistent link: https://www.econbiz.de/10012767558