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Increasing tax transparency : investor reactions to the country-by-country reporting requirement for EU financial institutions

Dutt, Verena K.; Ludwig, Christopher A.; Nicolay, Katharina - 2018

We employ an event study methodology to investigate the stock price reaction around the day of the political decision to include a country-by-country reporting obligation for EU financial institutions. We do not find significant abnormal returns for the banks affected. Sample splits according to...

Persistent link: https://www.econbiz.de/10011821075

What drives the demand of monetary financial institutions for domestic government bonds? : empirical evidence on the impact of Basel II and Basel III

Lang, Michael; Schröder, Michael - 2014

regulation on the demand of Monetary Financial Institutions (MFI) for marketable sovereign debt. Our results suggest that bank …This paper examines the treatment of sovereign debt exposure within the Basel framework and measures the impact of bank … regulation has a significant positive impact on MFI demand for domestic government securities. The results are representative for …

Persistent link: https://www.econbiz.de/10010459905

Lender of last resort versus buyer of last resort : the impact of the European Central Bank actions on the bank-sovereign nexus

Acharya, Viral V.; Pierret, Diane; Steffen, Sascha - 2016 - This version: February 29, 2016

In summer 2011, elevated sovereign risk in Eurozone peripheral countries increased the solvency risk of Eurozone banks …, precipitating a run on their short-term debt. We assess the effectiveness of different European Central Bank (ECB) interventions … funding pressure for banks, but did not help to contain sovereign risk. In fact, banks of the peripheral countries used the …

Persistent link: https://www.econbiz.de/10011436391

Systemic risk in European banking : evidence from bivariate GARCH models

Schröder, Michael; Schüler, Martin - 2003

This paper attempts to assess the Europe-wide systemic risk in banking. We employ a bivariate GARCH model to estimate … conditional correlations between European bank stock indices. These correlations are used as an indication for the … interdependencies amongst the banking business in Europe and hence for the systemic risk potential. We employ several tests to assess …

Persistent link: https://www.econbiz.de/10011448270

Blockholdings and corporate governance in the EU banking sector

Köhler, Matthias (contributor) - 2008

Ownership structures widely differ across the EU. While large blockholdings dominate in the banking sector in Continental Europe, ownership is widely dispersed in the United Kingdom. These differences have consequences for corporate governance in the EU banking sector. This paper analyzes the...

Persistent link: https://www.econbiz.de/10003793860

Blockholdings and corporate governance in the EU banking sector

Köhler, Matthias (contributor) - 2009

Persistent link: https://www.econbiz.de/10003873320

How do banking supervisors deal with Europe-wide systemic risk?

Schüler, Martin - 2003

The systemic risk potential in the European banking market has increased. Hence, the following questions emerge: Is … the EU with respect to the increased Europe-wide systemic risk. We argue that cooperation between national supervisors … of a European observatory of systemic risk. …

Persistent link: https://www.econbiz.de/10011448175

Cross-border tax evasion after the common reporting standard : game over?

Spengel, Christoph; Casi, Elisa; Stage, Barbara - 2019 - This version: July 20, 2019

We study the effect of the first global multilateral standard for the automatic exchange of information (AEOI), the so called Common Reporting Standard (CRS), on cross border tax evasion. Employing newly available bilateral data on cross-border deposits, we find that the CRS induced a reduction...

Persistent link: https://www.econbiz.de/10012053474

Cross-border tax evasion after the common reporting standard : game over?

Casi, Elisa; Spengel, Christoph; Stage, Barbara - 2018

Back in 2013, the Automatic Exchange of Information (AEOI) was endorsed as the prevailing universal solution to fight cross-border tax evasion. In this regard, the OECD launched a global standard for the AEOI, the Common Reporting Standard (CRS). Currently, around 100 jurisdictions have...

Persistent link: https://www.econbiz.de/10011897994

Facility- and service-based competition and investment in fixed broadband networks : lessons from a decade of access regulations in the European Union member states

Briglauer, Wolfgang; Gugler, Klaus; Haxhimusa, Adhurim - 2015

This paper employs firm-level panel data of 57 incumbent and entrant firms for 23 European countries in the decade from 2003 to 2012. We examine the impact of service- and facility-based competition on firm-level investment as well as the strategic effects underlying infrastructure investment...

Persistent link: https://www.econbiz.de/10011300640