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Banks vs. markets: are banks more effective in facilitating sustainability?
Newton, David P.; Ongena, Steven; Xie, Ru; Zhao, Binru - 2022
Is bank- versus market-based financing different in its attitudes towards Environmental, Social, and Governance (ESG) risk? Using a novel sample covering 3,783 U.S. public firms from 2007 to 2020, we study how firm-level ESG risk affects its financing outcomes. We find that companies with higher...
Persistent link: https://www.econbiz.de/10013169151
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Banks vs. markets : are banks more effective in facilitating sustainability?
Newton, David P.; Ongena, Steven; Xie, Ru; Zhao, Binru - 2022
Is bank- versus market-based financing different in its attitudes towards Environmental, Social, and Governance (ESG) risk? Using a novel sample covering 3,783 U.S. public firms from 2007 to 2020, we study how firm-level ESG risk affects its financing outcomes. We find that companies with higher...
Persistent link: https://www.econbiz.de/10013185205
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Interbank market integration, loan rates, and firm leverage
Ongena, Steven; Popov, Alexander - 2010
We study the effect of interbank market integration on small firm finance in the build-up to the 2007-2008 financial crisis. We use a comprehensive data set that contains contract terms on individual loans to 6,047 firms across 14 European countries between 1998:01 and 2005:12. We account for...
Persistent link: https://www.econbiz.de/10008659379
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Interbank Market Integration, Loan Rates, and Firm Leverage
Ongena, Steven - 2010
We study the effect of interbank market integration on small firm finance in the build-up to the 2007-2008 financial crisis. We use a comprehensive data set that contains contract terms on individual loans to 6,047 firms across 14 European countries between 1998:01 and 2005:12. We account for...
Persistent link: https://www.econbiz.de/10013137713
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Interbank Market Integration, Loan Rates, and Firm Leverage
Ongena, Steven - 2010
We study the effect of interbank market integration on small firm finance in the build-up to the current financial crisis. We use a comprehensive data set that contains contract terms on individual loans to 6,000 firms across 14 European countries between 1998:01 and 2005:12. We account for the...
Persistent link: https://www.econbiz.de/10013151820
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Leveraged loans: is high leverage risk priced in?
Newton, David P.; Ongena, Steven; Xie, Ru; Zhao, Binru - 2020
We investigate the impact of the 2014 Interagency Clarification on the leverage risk premium for bank- and nonbank-originated loans. Using a novel dataset from 2011 to 2019, we show that leveraged loan spreads have declined rapidly for nonbank facilities relative to bank facilities since the...
Persistent link: https://www.econbiz.de/10012420989
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On Becoming an O-SII ('Other Systemically Important Institution')
Andries, Alin Marius - 2020
How have financial markets reacted to the disclosure of the list of Other Systemically Important Institutions by the European Banking Authority? With an event study of bank stock prices, we document that the immediate reaction of the stock market is negative, suggesting that the included...
Persistent link: https://www.econbiz.de/10012853915
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Interbank market integration, loan rates, and firm leverage
Ongena, Steven; Popov, Alexander - 2010
We study the effect of interbank market integration on small firm finance in the build-up to the 2007-2008 financial crisis. We use a comprehensive data set that contains contract terms on individual loans to 6,047 firms across 14 European countries between 1998:01 and 2005:12. We account for...
Persistent link: https://www.econbiz.de/10011605298
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Management practices and M&A success
Delis, Manthos D.; Iosifidi, Maria; Kazakis, Pantelis; … - 2021
We study whether management practices determine merger and acquisition (M&A) success. We model management as an … unobserved (latent) variable in a standard microeconomic model of the firm and derive firm-year management estimates. We validate … these estimates against benchmark survey data on management practices and by using Monte Carlo simulation. We show that our …
Persistent link: https://www.econbiz.de/10013229949
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Banks vs. markets: Are banks more effective in facilitating sustainability?
Newton, David P.; Ongena, Steven; Xie, Ru; Zhao, Binru - 2022
Is bank- versus market-based financing different in its attitudes towards Environmental, Social, and Governance (ESG) risk? Using a novel sample covering 3,783 U.S. public firms from 2007 to 2020, we study how firm-level ESG risk affects its financing outcomes. We find that companies with higher...
Persistent link: https://www.econbiz.de/10013191631