When investigating the role of regulatory capital in bank mergers and acquisitions (M&As) we finds that i.e. US targets are better capitalized than their acquirers and non-acquired peers and that US banks maintain higher capital than European banks. Thus, US banks strategically raise their...

As banking markets in developing countries are maturing, banks face competition not only from other domestic banks but also from sophisticated foreign banks. Combined with a dramatic growth of consumer credit and increased regulatory attention to risk management, the development of a...

This study investigates the role of project finance as a driver of economic growth. We hypothesize that project finance is beneficial to the least developed economies as it compensates for any lack of domestic financial development. The contractual structure unique to project finance should lead...

This study aims at unifying the empirical research on the financial part of the monetary transmission process in the Eurozone between 1993 and 2002. After endogenously determining structural breaks, we select an optimal pass-through model for a series of national retail interest rates for each...

This study investigates the transmission of monetary policy onto retail bank interest rates inthe eight Central and Eastern European countries (CEECs) that joined the European Union in2004. Focussing on the period from 1993 to 2003, we employ a unifying empirical passthrough model that allows...

This study provides new evidence on the emergence of a single Eurozone retail banking market. Applying cointegration methodology, the empirical results indicate only limited evidence for integration before January 1, 1999. The introduction of the Euro manifests itself in structural breaks after...

This study investigates the current state of euro zone banking market integration by applying convergence and cointegration measures to mortgage and short-term corporate loan markets. These two measures of integration often lead to contradicting conclusions and are therefore comparatively...

Our study reviews the process towards creating a single European retail banking market. The EU has aimed at integrating the traditionally heterogeneous banking market in Europe by means of harmonizing legislation. While the wholesale banking market integration is considered to be more advanced,...

This paper follows up on recent studies of the Eurozone interest rate pass-through. Using a generalized empirical approach that allows for a variety of different specifications of the pass-through, including asymmetric adjustment, the role of interest rate expectations, proxied by EURIBOR...

Our study extends on conventional measures of contagion by directly investigating changes in the existence and the directions of causality. In particular, we apply a Granger-causality methodology on sovereign bond spreads as a measure of perceived country risk. For the Asian crisis, we find...