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This paper studies the factors that were associated with a bank's early exit from the Troubled Asset Relief Program (TARP) in 2009. Executive pay restrictions were often a rationale cited for early TARP exit, and high levels of CEO pay in 2008 were associated with banks being significantly more...
Persistent link: https://www.econbiz.de/10010599314
This paper finds that banks that offered lower opening bids were rewarded with significantly lower warrant repurchase prices in transactions that raised $2.856 billion in 2009. These results were scaled by third-party consultants’ and the Congressional Oversight Panel's estimates of the...
Persistent link: https://www.econbiz.de/10010599712
A widespread consensus for an easier access to bank credit for SMEs to quicken the recovery could lead to overlook risks, for banks as well as for economies, of financing projects that do not fit the structural adjustments in the world economy caused by the international crisis. Sustainable...
Persistent link: https://www.econbiz.de/10010929907
This report identifies a set of policy lessons for China today drawn from the experience of financial deregulation, financial crisis, and recovery in Scandinavia during the period 1985–2000. Although there are considerable differences between the huge Chinese economy and the small Nordic...
Persistent link: https://www.econbiz.de/10010835654
A widespread consensus for an easier access to bank credit for SMEs to quicken the recovery could lead to overlook risks, for banks as well as for economies, of financing projects that do not fit the structural adjustments in the world economy caused by the international crisis. Sustainable...
Persistent link: https://www.econbiz.de/10010643598
This report identifies a set of policy lessons for China today drawn from the experience of financial deregulation, financial crisis and recovery in Scandinavia during the period 1985-2000. Although there are considerable differences between the huge Chinese economy and the small Nordic...
Persistent link: https://www.econbiz.de/10005064046
A widespread consensus for an easier access to bank credit for SMEs to quicken the recovery could lead to overlook risks, for banks as well as for economies, of financing projects that do not fit the structural adjustments in the world economy caused by the international crisis. Sustainable...
Persistent link: https://www.econbiz.de/10010682976
-based political connections as an instrument for bailout approvals. …
Persistent link: https://www.econbiz.de/10011039273
This paper uses the option pricing arguments of Merton (1974) to demonstrate that even solvent banks will be reluctant to sell volatile, toxic assets at market prices. Banks' shareholders have insolvency puts that give them limited liability in the event of default. The insolvency puts are more...
Persistent link: https://www.econbiz.de/10012715473
market. Using a simple network structure, it shows that, if there is a non-zero bailout probability, banks can significantly …
Persistent link: https://www.econbiz.de/10010955126