Does bank instability push borrowers to use crowdfunding as a source of external finance? We identify stressed banks … crowdfunding. Crowdfunding is significantly more likely for new ventures that interact with stressed banks. Innovative funding is …

German banks experienced a merger wave throughout the 1990s. However, the success of bank mergers remains a continuous … CE levels above the average of non-merging banks. Second, banks must exhibit CE changes between merger and evaluation … year above efficiency changes of non-merging banks. We employ this taxonomy to characterise (successful) mergers in terms …

quality of banks' financial intermediation in the regions of one economy only : Germany. To approximate the quality of … intermediation is robust, also after excluding banks likely to operate in multiple regions and distinguishing between different …

directions since then: Italy privatized its publicly-owned banks while Germany has maintained a large share of state …-owned savings banks. Contemporaneously, banks in both markets engaged heavily in mergers and acquisitions. We analyze how these … activities have affected banks' productivity in the period 1994-2004, differentiating between technical change, efficiency change …

Based on detailed regulatory intervention data among German banks during 1994-2008, we test if supervisory measures … particularly bad banks. That is, our results remain intact when we exclude banks that eventually exit the market due to …

-equations model that specifies the probability of a bailout and banks' risk taking.We identify the effect of expected bailout …

conduct of unsupported banks after the program stopped in the fourth quarter of 2009. The risk premium required by depositors … was lower, and loan rates were higher for banks with higher bailout expectations. The interest margins of unsupported … banks increased in the immediate aftermath of the TARP disbursement but not after 2010. These effects are economically very …

We test if unconventional monetary policy instruments influence the competitive conduct of banks. Between q2:2010 and q … Markets Programme (SMP). Using detailed security holdings data at the bank level, we show that banks exposed to this … unexpected (loose) policy shock mildly gained local loan and deposit market shares. Shifts in market shares are driven by banks …

The quiet life hypothesis (QLH) posits that banks enjoy the advantages of market power in terms of foregone revenues or … to market power in the case of German savings banks. We find that both market power and average revenues declined among … these banks between 1996 and 2006. While we find clear evidence supporting the QLH, estimated effects of the QLH are small …