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Economists’ hubris – the case of risk management
Shojai, Shahin; Feiger, George - In: Journal of Financial Transformation 28 (2010), pp. 27-35
In this, the third paper in the Economists’ Hubris series, we highlight the shortcomings of academic thought in developing models that can be used by financial institutions to institute effective enterprise-wide risk management systems and policies. We find that pretty much all of the models...
Persistent link: https://www.econbiz.de/10008502783
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Determination of bank risk indicators and macroeconomic conditions in Venezuela (1997-2009)
Santafé, Yasmin Briceño; Merli, Giampaolo Orlandoni - In: Economía 37 (2012) 34, pp. 55-88
Venezuelan commercial and universal banks, as many banks in the rest of the world, are exposed to financial risks (credit risk, liquidity risk) and to operational risks. In this paper, the main relationships between the risks factors faced by banks and relevant economic variables are analysed,...
Persistent link: https://www.econbiz.de/10010781863
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The relationship between liquidity risk and credit risk in banks
Imbierowicz, Björn; Rauch, Christian - In: Journal of Banking & Finance 40 (2014) C, pp. 242-256
This paper investigates the relationship between the two major sources of bank default risk: liquidity risk and credit … these two risk sources on the bank institutional-level and how this relationship influences banks’ probabilities of default … increase the PD, the influence of their interaction depends on the overall level of bank risk and can either aggravate or …
Persistent link: https://www.econbiz.de/10011065733
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Illiquidity, insolvency, and banking regulation
Cao, Jin - Norges Bank - 2011
liquidity and solvency shocks. It explains the asset price anomalies and bank lending freeze during the crisis. The paper shows … regulatory policies fail, and why the unconventional central bank policy encourages moral hazard. A banking tax is proposed to …
Persistent link: https://www.econbiz.de/10010835406
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The information content of Basel III liquidity risk measures
Hong, Han; Huang, Jing-Zhi; Wu, Deming - In: Journal of Financial Stability 15 (2014) C, pp. 91-111
liquidity risk measures and bank failures using a model that differentiates between idiosyncratic and systemic liquidity risks …. We find that while both the NSFR and the LCR have limited effects on bank failures, the systemic liquidity risk is a … major contributor to bank failures in 2009 and 2010. This finding suggests that an effective framework of liquidity risk …
Persistent link: https://www.econbiz.de/10011116616
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The Economic Effects of Technological Progress : Evidence from the Banking Industry
Berger, Allen N. - 2015
This paper examines technological progress and its effects in the banking industry. Banks are intensive users of both IT and financial technologies, and have a wealth of data available that may be helpful for the general understanding of the effects of technological change. The research suggests...
Persistent link: https://www.econbiz.de/10012708240
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Guarantee-Backed Loans and R&D Investment - Do Mutual Guarantee Consortiums Value R&D?
Ughetto, Elisa - 2014
It is widely acknowledged that firms performing Ramp;D investments are very likely to undergo financial constraints (FC) due to their specific characteristics, which make external debt an imperfect substitute for internal finance, especially for small sized enterprises. This situation calls into...
Persistent link: https://www.econbiz.de/10012708590
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Industrial Districts and Financial Constraints to Innovation
Ughetto, Elisa - 2014
Informational frictions between borrowers and lenders are particularly acute for innovative firms undertaking high-risk projects. As a consequence, banks may end up denying credit to them. However, the literature on relationship finance predicts that a closer relationship between credit...
Persistent link: https://www.econbiz.de/10012709579
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The Financing of Innovative Activities By Banking Institutions : Policy Issues and Regulatory Options
Ughetto, Elisa - 2014
The paper investigates to what extent the convergence of banks over risk-adjusted capital standards set by the new Basel Capital Accord may affect the way in which they screen innovative firms. It also gives an overview of the existing forms of credit support to Ramp;D activities. The study is...
Persistent link: https://www.econbiz.de/10012709622
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Informed Finance and Technological Change : Evidence from Credit Relationships
Herrera, Ana Maria - 2014
This paper empirically investigates the effect of quot;informed financequot; on technological change. We argue that the theoretical literature offers conflicting predictions on whether the information of financiers fosters or impedes firms' innovation. Using data from a sample of Italian...
Persistent link: https://www.econbiz.de/10012710177