Showing 1 - 10 of 26
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
This paper explores how different types of financial regulation could combat many of the phenomena that were observed in the financial crisis of 2007 to 2009. The primary contribution is the introduction of a model that includes both a banking system and a "shadow banking system" that each help...
Persistent link: https://www.econbiz.de/10012460749
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
We analyze a model where investors use a credit rating to decide whether to finance a firm. The rating quality depends on unobservable effort exerted by a credit rating agency (CRA). We study optimal compensation schemes for the CRA when a planner, the firm, or investors order the rating. Rating...
Persistent link: https://www.econbiz.de/10012459738
We characterize the large number of mortgage offers for which people qualify in the United Kingdom. Very few pick the cheapest option, nonetheless the one selected is not usually noticeably more expensive. A few borrowers make very expensive choices. These are most common when the menu they face...
Persistent link: https://www.econbiz.de/10014372409
This paper provides the first comprehensive econometric analysis of the causes of bank distress during the Depression …. We assemble bank-level data for virtually all Fed member banks, and combine those data with county-level, state … bank failure. We construct a model of bank survival duration using these fundamental determinants of bank failure as …
Persistent link: https://www.econbiz.de/10012470818
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
This paper addresses the following question: what ties together the traditional commercial banking activities of deposit-taking and lending? We begin by observing that since banks often lend via commitments, or credit lines, their lending and deposit-taking may be two manifestations of the same...
Persistent link: https://www.econbiz.de/10012471845
greater insider ownership leads to less equity issuances. Several tests are consistent with the view that bank insiders are … between bank equity and lending, the results stress that ownership structure can shape the resilience of banks--and hence the …
Persistent link: https://www.econbiz.de/10012481637
quality of bank assets and management. All three types of information were useful for gauging the condition of the bank, and … affected bank behavior, including a publicly observable signal (skipping a dividend payment). Participants in the market for … bank liabilities reacted to this signal in ways that promoted market discipline …
Persistent link: https://www.econbiz.de/10012453254