evidence that: (1) fees are used to price options embedded in loan contracts such as the draw-down option for credit lines and …

We analyze the causal effect of the credit supply shock to banks induced by interbank market disruptions in the recent … financial crisis 2008/2009 on their business customers’ innovation activity. Using a matched bank-firm data set for Germany, we … find that having relations with a more severely affected bank seriously hampers firms’ current innovation activities due to …

. First we scrutinize the impact of stock market movements on the banks’ and on the borrowers’ balance sheets. Subsequently we … estimate aggregate credit supply and demand functions including a stock market indicator as explanatory variable. The analysis … reveals no major importance of the bank balance sheet channel for the relationship between stock market volatility and …

assessments arising from the industry level and the main bank’s portfolio. We test our theoretical predictions for a sample of … distributed between inventors and investors. As a result, bank lending for firm R&D has been rare. However, firms can signal the … potential to alter the risk assessment of the firm’s main bank. Additionally, we explore heterogeneities in these risk …

, reasons for its failure in the euro area have to be analysed. One possible reason could be that the European Central Bank …

This paper shows that politicians' pressure to climb the career ladder increases bank risk exposure in their region …-financed programs which are mainly financed via bank loans. The stronger the performance incentive the riskier the respective local bank … exposure becomes. This effect holds primarily for local banks which are under a certain degree of control of local politicians …

Hybridkapital ist eine innovative Form der Unternehmensfinanzierung. Hybride Finanzinstrumente weisen Eigenschaften von …