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Does Banks' Corporate Control Benefit Firms? Evidence from US Banks' Control Over Firms' Voting Rights

Santos, João A. C. - 2009

In this paper we examine the importance of banks' corporate control by investigating the loan policy pricing effect of banks' voting stakes on their borrowers. We exploit the fact that banks may hold shares of firms in a fiduciary capacity to identify a clean measure of banks' control over...

Persistent link: https://www.econbiz.de/10012721639

Alternative Forms of Mixing Banking with Commerce : Evidence from American History

Haubrich, Joseph G. - 2008

Much of the discussion about banking and commerce in America has failed to make several crucial distinctions and has not accounted for many arrangements that have promoted the mixing of these activities. We investigate the history of banking and commerce in the United States, looking both at...

Persistent link: https://www.econbiz.de/10012728121

Is the Secondary Loan Market Valuable for Borrowers?

Nigro, Peter J. - 2007

In recent years, the secondary loan market has developed into an over-the-counter market where loans are sold and subsequently traded. This shift away from traditional banking is altering the business of lending for both banks and their borrowers. Loan sales are valuable to banks because they...

Persistent link: https://www.econbiz.de/10012728694

Bank Loans, Bonds, and Information Monopolies Across the Business Cycle

Santos, João A. C. - 2007

Theory suggests that banks' private information about borrowers lets them hold up borrowers for higher interest rates …

Persistent link: https://www.econbiz.de/10012732130

Performance and Asset Management Effects of Bank Acquisitions

Craig, Ben R. - 2007

This paper studies the effects of acquisitions on both acquired and acquiring banks. Through the use of overlap, von Mises, and other distance statistics, we confirm that, prior to acquisition, the acquirer generally performs better than the bank it acquired. Following the acquisition, the...

Persistent link: https://www.econbiz.de/10012732408

The American Keiretsu and Universal Banks : Investing, Voting and Sitting on Nonfinancials' Corporate Boards

Santos, João A. C. - 2006

This paper investigates the equity investments and voting rights that American banks control through their trust business. Following the evidence that German banks use the proxy voting rights they control to place their representatives on the firm's board of directors, the paper also studies...

Persistent link: https://www.econbiz.de/10012735151

Allocating Bank Regulatory Powers : Lender of Last Resort, Deposit Insurance and Supervision

Kahn, Charles M. - 2005

-regulator arrangement reduces the forbearance problem at high levels of liquidity shortage but may exacerbate it at low levels. These …

Persistent link: https://www.econbiz.de/10012736162

Alternative Forms of Mixing Banking with Commerce : Evidence from American History

Haubrich, Joseph G. - 2008

Persistent link: https://www.econbiz.de/10012774554

Bank Loans, Bonds, and Information Monopolies Across the Business Cycle

Santos, João A. C. - 2007

Theory suggests that banks' private information about borrowers lets them hold up borrowers for higher interest rates …

Persistent link: https://www.econbiz.de/10012776767

Insuring Banks Against Liquidity Shocks : The Role of Deposit Insurance and Lending of Last Resort

Santos, João A. C. - 2006

It has long been recognised that banks' simultaneous provision of monitoring and liquidity services is advantageous …, but leaves them susceptible to liquidity shocks that may culminate in a system failure. Because a system failure is costly … banks against liquidity shocks. These arrangements have proven themselves very successful, but they have also been the …

Persistent link: https://www.econbiz.de/10012783645