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Corporate Resilience to Banking Crises : The Roles of Trust and Trade Credit

Levine, Ross - 2016

Are firms more resilient to systemic banking crises in economies with higher levels of social trust? Using firm-level data in 34 countries from 1990 through 2011, we find that liquidity-dependent firms in high-trust countries obtain more trade credit and suffer smaller drops in profits and...

Persistent link: https://www.econbiz.de/10012456522

Spare Tire? Stock Markets, Banking Crises, and Economic Recoveries

Levine, Ross - 2015

Do stock markets act as a "spare tire" during banking crises, providing an alternative corporate financing channel and mitigating the economic severity of banking crises? Using firm-level data in 36 countries from 1990 through 2011, we find that the adverse consequences of banking crises on firm...

Persistent link: https://www.econbiz.de/10012457803

Competition and Bank Opacity

Jiang, Liangliang - 2014

Did regulatory reforms that lowered barriers to competition among U.S. banks increase or decrease the quality of information that banks disclose to the public and regulators? We find that an intensification of competition reduced abnormal accruals of loan loss provisions and the frequency with...

Persistent link: https://www.econbiz.de/10012457906

Does Competition Affect Bank Risk?

Jiang, Liangliang - 2017

theoretical perspectives and empirical results on the impact of competition on risk. In this paper, we employ a new approach for … competition materially boosts bank risk. With respect to the mechanisms, we find that competition reduces bank profits, charter …

Persistent link: https://www.econbiz.de/10012455601

Is There a Diversification Discount in Financial Conglomerates?

Laeven, Luc - 2005

Persistent link: https://www.econbiz.de/10012467179

Capital Market Financing, Firm Growth, Firm Size Distribution

Didier, Tatiana - 2014

Which firms issue equity and debt in domestic and international markets and what happens to their assets, sales, and number of employees? To answer these questions, we assemble a new dataset on firm-level capital raising activity during 1991-2011, which we match with firm attributes for 45,527...

Persistent link: https://www.econbiz.de/10012458331

When Is There a Strong Transfer Risk from the Sovereigns to the Corporates? Property Rights Gaps and CDS Spreads

Bai, Jennie - 2012

When a sovereign faces the risk of debt default, it may be tempted to expropriate the private sector. This may be one … reason for why international investment in private companies has to take into account the sovereign risk. But the likelihood … of a transfer from the sovereign risk to corporate default risks may be mitigated by legal institutions that provide …

Persistent link: https://www.econbiz.de/10012460062

The US as the "Demander of Last Resort" and its Implications on China's Current Account

Aizenman, Joshua - 2008

This paper evaluates the degree to which current account patterns are explained by the variables suggested by the literature, and reflects on possible future patterns. We start with panel regressions explaining the current account of 69 countries during 1981-2006. We identify an asymmetric...

Persistent link: https://www.econbiz.de/10012464194

International Financial Integration and Economic Growth

Edison, Hali J. - 2002

This paper uses new data and new econometric techniques to investigate the impact of international financial integration on economic growth and also to assess whether this relationship depends on the level of economic development, financial development, legal system development, government...

Persistent link: https://www.econbiz.de/10012469546

Stock Markets, Banks, and Growth : Panel Evidence

Beck, Thorsten - 2002

This paper investigates the impact of stock markets and banks on economic growth using a panel data set for the period 1976-98 and applying recent GMM techniques developed for dynamic panels. On balance, we find that stock markets and banks positively influence economic growth and these findings...

Persistent link: https://www.econbiz.de/10012469631