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A New Metric for Banking Integration in Europe

Gropp, Reint - 2010

taking place for retail banking. Data on cross-border retail bank flows, cross-border bank mergers and the law of one price … reveal no evidence of integration in retail banking. This paper shows that the previous tests of bank integration are weak in … role of an active market for corporate control and of competition in banking integration. European listed banks …

Persistent link: https://www.econbiz.de/10012757853

California Banking in the Nineteenth Century : the Art and Method of the Bank of a. Levy

White, Eugene N. - 2010

California during the National Banking Era (1864-1914). This period has been intensively analyzed at the macroeconomic level, but …

Persistent link: https://www.econbiz.de/10012763797

Is Investor Rationality Time Varying? Evidence from the Mutual Fund Industry

Glode, Vincent - 2010

We provide new empirical evidence suggesting that the marginal investor in mutual funds behaves differently across market conditions. If the marginal investor allocates capital across mutual funds rationally, then the relative performance of funds should be unpredictable. We find however that...

Persistent link: https://www.econbiz.de/10013152571

Legal Protection in Retail Financial Markets

Carlin, Bruce Ian - 2009

Given the importance of sound advice in retail financial markets and the fact that financial institutions outsource their advice services, what legal rules maximize social welfare in the market? We address this question by posing a theoretical model of retail markets in which a firm and a broker...

Persistent link: https://www.econbiz.de/10013159528

Uninformative Feedback and Risk Taking : Evidence from Retail Forex Trading

Ben-David, Itzhak - 2016

We document evidence consistent with retail day traders in the Forex market attributing random success to their own skill and, as a consequence, increasing risk taking. Although past performance does not predict future success for these traders, traders increase trade sizes, trade size...

Persistent link: https://www.econbiz.de/10012994895

Shadow Banking and the Four Pillars of Traditional Financial Intermediation

Farhi, Emmanuel - 2017

Traditional banking is built on four pillars: SME lending, insured deposit taking, access to lender of last resort, and … banking, and rationalizes structural remedies to counter financial contagion: ring-fencing between regulated and shadow … banking and the sharing of liquidity in centralized platforms …

Persistent link: https://www.econbiz.de/10012945614

Retail Financial Advice : Does One Size Fit All?

Foerster, Stephen Robert - 2014

Using unique data on Canadian households, we assess the impact of financial advisors on their clients' portfolios. We find that advisors induce their clients to take more risk, thereby raising expected returns. On the other hand, we find limited evidence of customization: advisors direct clients...

Persistent link: https://www.econbiz.de/10013043279

Funding Liquidity Without Banks : Evidence from a Shock to the Cost of Very Short-Term Debt

Restrepo, Felipe - 2017

In 2011, Colombia instituted a tax on repayment of bank loans, thereby increasing the cost of short-term bank credit more than long-term credit. Firms responded by cutting their short-term loans for liquidity management purposes and increasing their use of cash and trade credit. In industries...

Persistent link: https://www.econbiz.de/10012962722

Bank Health Post-Crisis

Chousakos, Kyriakos - 2017

Economic growth is persistently low following a financial crisis, possibly because of a continuing weal banking system …

Persistent link: https://www.econbiz.de/10012963154

Gross Capital Flows by Banks, Corporates and Sovereigns

Avdjiev, Stefan - 2017

We construct a new quarterly data set of international capital flows broken down by sector: banks, corporates and sovereigns. Using our novel data set, we establish several key facts that demonstrate the importance of distinguishing in- and outflows by the domestic sectoral identity. We find...

Persistent link: https://www.econbiz.de/10012964385