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We evaluate the performance of limited partners' (LPs) private equity investments over time. Using a sample of 14,380 investments by 1,852 LPs in 1,250 buyout and venture funds started between 1991 and 2006, we find that the superior performance of endowment investors in the 1991-1998 period,...
Persistent link: https://www.econbiz.de/10012459869
We study the spatial expansion of banks in response to banking deregulation in the 1980s and 90s. During this period, large banks expanded rapidly, mostly by adding new branches in new locations, while many small banks exited. We document that large banks sorted into the densest markets, but...
Persistent link: https://www.econbiz.de/10014512110
urban growth. Our estimates suggest that the presence of a bank at a given location in the late 1830s is associated with …
Persistent link: https://www.econbiz.de/10012462656
In the last two decades the European financial markets have become more market oriented. We analyze the economic and political forces that have triggered these changes as well as their likely welfare implications. We also try to assess whether this trend will continue. Based on our analysis, we...
Persistent link: https://www.econbiz.de/10012469104
In recent years, assets of non-bank financial intermediaries (NBFIs) have grown significantly relative to those of …. We argue instead that NBFI and bank businesses and risks are so interwoven that they are better described as having … contingent liquidity risk from the provision of credit lines to NBFIs; and (iii) Empirical work confirms bank-NBFI linkages …
Persistent link: https://www.econbiz.de/10014528356
operations of a large bank. Case studies of several branches were used to understand how and why the human resource management …'s performance. An important finding is that, even though all managers in this bank are given a formal set of human resource policies …
Persistent link: https://www.econbiz.de/10012471309
shocks. We show that firms whose debt" had a higher fraction of bank loans in 1989 performed worse from 1990 to 1993. This … affect performance during this period of time. We find that firms that were more" bank-dependent also invested less during … this period than other firms. This evidence points to an" adverse effect of bank-centered corporate governance, namely that …
Persistent link: https://www.econbiz.de/10012472574
representatives on corporate boards. If a banking relationship is a substitute for the stock market, then interaction with a bank … monopolistic control over access to external capital markets, then bank interests may conflict with those of other equityholders … structure of the firms' equity. We test for conflicts-of-interest in bank behavior and ask whether the relationship between …
Persistent link: https://www.econbiz.de/10012473409
pre-crisis data, in order to study the impact of government guarantees on bank performance during a crisis. Using bank … private sector bank branches in districts with greater exposure to state-owned banks experienced deposit withdrawals and … shortening of deposit maturity. In contrast, nearby vulnerable state-owned bank branches grew their deposit base and increased …
Persistent link: https://www.econbiz.de/10012480508
Though overall bank performance from July 2007 to December 2008 was the worst since at least the Great Depression … performance of banks during the credit crisis. More specifically, we investigate whether bank performance is related to bank …-level governance, country-level governance, country-level regulation, and bank balance sheet and profitability characteristics before …
Persistent link: https://www.econbiz.de/10012463469