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When Uncle Sam Introduced Main Street to Wall Street : Liberty Bonds and the Transformation of American Finance

Hilt, Eric - 2020

commercial bank assets. We also find that individuals residing in states with higher liberty bond subscription rates were more …

Persistent link: https://www.econbiz.de/10012481251

Bank-Based or Market-Based Financial Systems : Which is Better?

Levine, Ross - 2002

For over a century, economists and policy makers have debated the relative merits of bank-based versus market …-based financial systems. Recent research, however, argues that classifying countries as bank-based or market is not a very fruitful … robustly linked with economic growth, there is no support for either the bank-based or market-based view …

Persistent link: https://www.econbiz.de/10012469571

Internal Capital Markets in Times of Crisis : The Benefit of Group Affiliation in Italy

Santioni, Raffaele - 2017

Italy's economic and banking systems have been under stress in the wake of the Global Financial Crisis and Euro Crisis. Firms in business groups have been more likely to survive this challenging environment, compared to unaffiliated firms. Better performance stems from access to an internal...

Persistent link: https://www.econbiz.de/10012455141

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

Calomiris, Charles W. - 2005

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/10012467350

The Tying of Lending and Equity Underwriting

Drucker, Steven - 2004

This article examines the practice of tying,' which occurs when an underwriter lends to an issuer around the time of a public securities offering. We examine whether there are efficiencies from tying lending and underwriting which lead to benefits for issuers and underwriters. We find evidence...

Persistent link: https://www.econbiz.de/10012468202

Incentive Pay and Bank Risk-Taking : Evidence from Austrian, German, and Swiss Banks

Efing, Matthias - 2014

We use payroll data on 1.2 million bank employee years in the Austrian, German, and Swiss banking sector to identify … document an economically significant correlation of incentive pay with both the level and volatility of bank trading income … share in the capital markets divisions with the strength of incentive pay in unrelated bank divisions like retail banking …

Persistent link: https://www.econbiz.de/10012458200

Payments Crises and Consequences

Chen, Qian - 2020

Banking-system shutdowns during contractions scar economies. Four times in the last forty years, governors suspended payments from state-insured depository institutions. Suspensions of payments in Nebraska (1983), Ohio (1985), and Maryland (1985), which were short and occurred during expansions,...

Persistent link: https://www.econbiz.de/10012481281

Does the Structure of Banking Markets Affect Economic Growth? Evidence from U.S. State Banking Markets

Mitchener, Kris James - 2010

degrees of dependence on external financing or access to capital. However, because regulations affecting bank entry varied … sector. Regulations on bank entry and other banking market characteristics thus appear to exert an independent influence on …

Persistent link: https://www.econbiz.de/10012462942

Branch Banking, Bank Competition, and Financial Stability

Carlson, Mark - 2005

It is often argued that branching stabilizes banking systems by facilitating diversification of bank portfolios … quantitatively more important than geographical diversification for bank stability in the 1920s and 1930s …

Persistent link: https://www.econbiz.de/10012467393

The Making of an Investment Banker : Macroeconomic Shocks, Career Choice, and Lifetime Income

Oyer, Paul - 2006

New graduates of elite MBA programs flock to Wall Street during bull markets and start their careers elsewhere when the stock market is weak. Given the transferability of MBA skills, it seems likely that any effect of stock returns on MBA placement would be short-lived. In this paper, I use a...

Persistent link: https://www.econbiz.de/10012466610

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