We examine the effects of bank Mamp;As on small business lending using data on over 6,000 recent U.S. bank Mamp;As. We are the first to decompose the impact of Mamp;As into static effects from simply melding the antecedent institutions, and dynamic effects associated with post-Mamp;A refocusing...

We examine the effects of bank Mamp;As on small business lending. Our methodology permits empirical analysis of the vast majority of U.S. bank Mamp;As since the late 1970s -- over 6,000 Mamp;As involving over 10,000 banks (some active banks are counted multiple times). We are the first to...

This paper examines the role of relationship lending in small firm finance. We examine price and nonprice terms of bank lines of credit (L/C) extended to small firms. Our focus on bank L/Cs allows us toe examine a type of loan contract in which the bank-borrower relationship is likely to be an...

We examine the contention that as banks become larger and more organizationally complex i.e., more like universal banks they may reduce the supply of credit to small business borrowers. This would be consistent with an effort to reduce Williamson-type managerial diseconomies in providing...

The formerly planned economies (FPEs) of Eastern Europe and the former Soviet Union are a rather disparate group of nations with widely differing financial structures. In some of the countries of Eastern Europe the financial infrastructure is beginning to assume the characteristics that are...

This paper studies the interconnectedness of banks in the syndicated loan market as a major source of systemic risk. We develop a set of novel measures to describe the "distance" (similarity) between two banks' syndicated loan portfolios and find that such distance explains how banks are...

We document a significant inverse relationship between a firm’sdividend payouts and reliance on bank loan financing. Banks limitdividend payouts to shareholders in order to protect the integrity oftheir senior claims on the firm’s assets. Moreover, dividendpayouts decline in the presence of...

This paper examines the financial impact of a transfer of legal sovereignty covering the rights to collateral to an international regime in the case of the Cape Town Convention and Protocol covering international mobile assets, specificallycommercial aircraft and related equipment, which came...

The authors are the Max L. Heine and John M. Schiff Professors of Finance, Stern School of Business, NYU. This is an updated and revised paper from the authors report on quot;An Analysis and Critique of the BIS Proposal on Capital Adequacy and Ratings,quot; (submitted to the BIS and published in...

This paper analyzes the behavior of deposit flows in failed banks and (a control) sample of non-failed banks over the 1929-1933 period. Evidence of significant contagion effects were found for the 1930-1932 period. No apparent contagion effects were found for the 1930-1932 period. No apparent...