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Carletti, Elena; Hartmann, Philipp; Spagnolo, Giancarlo - 2003

Persistent link: https://www.econbiz.de/10011604338

Diversification and the banks' risk-return-characteristics: evidence from loan portfolios of German banks

Behr, Andreas; Kamp, Andreas; Memmel, Christoph; … - 2007

Banks face a tradeoff between diversifying and focusing their loan portfolio. In this paper we carry out an empirical study for the German market to shed light on the question whether or not the benefits of risk sharing outweigh those of specialization. We use data from the Bundesbank's...

Persistent link: https://www.econbiz.de/10010295924

Do specialization benefits outweigh concentration risks in credit portfolios of German banks?

Böve, Rolf; Düllmann, Klaus; Pfingsten, Andreas - 2010

Lending specialization on certain industry sectors can have opposing effects on monitoring (including screening) abilities and on the sectoral concentration risk of a credit portfolio. In this paper, we examine in the first part if monitoring abilities of German cooperative banks and savings...

Persistent link: https://www.econbiz.de/10010303636

A compass to guide EU policy in support of business competitiveness

Erixon, Fredrik; Guinea, Oscar; Lamprecht, Philipp; … - 2022

The EU agenda for improving competitiveness is missing in action. Economic competitiveness has been a central plank in the development of the European Union - a relentless quest for policies that lead to more prosperity and that make European companies in world markets more successful. However,...

Persistent link: https://www.econbiz.de/10014560176

A new approach to measuring competition in the loan markets of the euro area

van Leuvensteijn, Michiel; Bikker, Jacob A.; van … - 2007

This paper is the first that applies a new measure of competition, the Boone indicator, to the banking industry. This … approach is able to measure competition of bank market segments, such as the loan market, whereas many well-known measures of … competition can consider the entire banking market only. A caveat of the Boone-indicator may be that it assumes that banks …

Persistent link: https://www.econbiz.de/10011604814

Incorporating the dynamics of leverage into default prediction

Löffler, Gunter; Maurer, Alina - 2009

A firm's current leverage ratio is one of the core characteristics of credit quality used in statistical default prediction models. Based on the capital structure literature, which shows that leverage is mean-reverting to a target leverage, we forecast future leverage ratios and include them in...

Persistent link: https://www.econbiz.de/10010263767

Avoiding the rating bounce: Why rating agencies are slow to react to new information

Löffler, Gunter - 2002

Rating agencies state that they take a rating action only when it is unlikely to be reversed shortly afterwards. Based on a formal representation of the rating process, I show that such a policy provides a good explanation for the empirical evidence: Rating changes occur relatively seldom,...

Persistent link: https://www.econbiz.de/10010316237

Financial integration and entrepreneurial activity: evidence from foreign bank entry in emerging markets

Giannetti, Mariassunta; Ongena, Steven - 2005

An extensive empirical literature has documented the positive growth effects of equity market liberalization. However, this line of research ignores the impact of financial integration on a category of firms crucial for economic development, i.e. the small entrepreneurial firms. This paper aims...

Persistent link: https://www.econbiz.de/10011604544

Impact of bank competition on the interest rate pass-through in the euro area

van Leuvensteijn, Michiel; Sørensen, Christoffer Kok; … - 2008

This paper analyses the impact of loan market competition on the interest rates applied by euro area banks to loans and … deposits during the 1994-2004 period, using a novel measure of competition called the Boone indicator. We find evidence that … stronger competition implies significantly lower spreads between bank and market interest rates for most loan market products …

Persistent link: https://www.econbiz.de/10011604931

On the coexistence of banks and markets

Gersbach, Hans; Uhlig, Harald - 2006

investment banks and rating agencies have screening know-how and can alleviate adverse-selection problems. In competition …

Persistent link: https://www.econbiz.de/10010263646

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