We show that around one third of executive directors on the boards of national supervisory authorities (NSA) in European banking have an employment history in the financial industry. The appointment of executives without a finance background associates with negative valuation effects....

Der "umgekehrte Drehtüreffekt" beschreibt das Phänomen, wenn ehemalige Bankerinnen und Banker Vorstandspositionen in nationalen Aufsichtsbehörden (National Supervisory Agency, NSA) bekleiden. Ein neu erhobener Datensatz zeigt, dass etwa ein Drittel der Vorstandsmitglieder in europäischen NSA...

We show that the presence of executive directors with prior experience in the finance industry is pervasive on the boards of European national banking supervisors. Up to one executive out of three has previously held positions in the industry she supervises (or in closely connected ones)....

We show that the presence of executive directors with prior experience in the finance industry is pervasive on the boards of European national banking supervisors. Up to one executive out of three has previously held positions in the industry he/she supervises. Appointments of such executives...

Der "umgekehrte Drehtüreffekt" beschreibt das Phänomen, wenn ehemalige Bankerinnen und Banker Vorstandspositionen in nationalen Aufsichtsbehörden (National Supervisory Agency, NSA) bekleiden. Ein neu erhobener Datensatz zeigt, dass etwa ein Drittel der Vorstandsmitglieder in europäischen NSA...

We show that around one third of executive directors on the boards of national supervisory authorities (NSA) in European banking have an employment history in the financial industry. The appointment of executives without a finance background associates with negative valuation effects....

The last two decades witnessed fundamental changes in the financial sectors ofindustrialized economies. Deregulation, the removal of entry barriers, the developmentof new financial products and services and technological change continue tospur structural changes in the financial industry. This...

Evidence on the interdependency between monetary policy and the state of thebanking system is scarce. We suggest an integrated micro-macro approach with twocore virtues. First, we measure the probability of bank distress directly at the banklevel. Second, we integrate a microeconomic hazard...

Competitive shocks can erode the customer base and thus the information pool of banks. Inferiorinformation quality also reduces the quality of borrowers and may lead to financial instability ofbanks and corporates if risk taking is excessive. Recent theories conjecture that banks can mitigatethe...

We use project-level information for the largest regional economic development program in German history to study whether government subsidies to firms affect quantity and quality of bank lending. We combine recipient firms under the Improvement of Regional Economic Structures program (GRW) with...