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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
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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
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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
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Bankenwettbewerb und Kreditwürdigkeitsprüfung
Neus, Werner - 1999
Persistent link: https://www.econbiz.de/10010305041
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Acquisition versus greenfield: the impact of the mode of foreign bank entry on information and bank lending rates
Claeys, Sophie; Hainz, Christa - 2006
information about their incumbent clients but foreign banks have better screening skills. Our model predicts that competition is …
Persistent link: https://www.econbiz.de/10011604699
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Tacit collusion under interest rate fluctuations
Dal Bó, Pedro - 2002
discount factor changes over time, under both price and quantity competition, and I show that collusive prices and proÞts …
Persistent link: https://www.econbiz.de/10010318903
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Acquisition versus greenfield: The impact of the mode of foreign bank entry on information and bank lending rates
Claeys, Sophie; Hainz, Christa - 2007
banking competition in emerging markets: Domestic banks possess private information about their incumbent clients and foreign … banks have better screening skills. Our model predicts that competition is stronger if foreign entry occurs through a … competition effect for a sample of banks from ten Eastern European countries for the period 1995-2003. …
Persistent link: https://www.econbiz.de/10010320758
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In- and out-of-sample specification analysis of spot rate models: Further evidence for the period 1982-2008
Cai, Lili; Swanson, Norman R. - 2011
We review and construct consistent in-sample specification and out-of-sample model selection tests on conditional distributions and predictive densities associated with continuous multifactor (possibly with jumps) and (non)linear discrete models of the short term interest rate. The results of...
Persistent link: https://www.econbiz.de/10010282832
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Estimating probabilities of default for German savings banks and credit cooperatives
Porath, Daniel - 2004
A healthy banking system is a fundamental condition for financial stability. When assessing the riskiness of the banking system, analysts often restrict their focus to large banks. This may create a distorted picture in countries like Germany with fragmented banking systems. In Germany, savings...
Persistent link: https://www.econbiz.de/10010295893
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The Failure of Northern Rock: A multi-dimensional Case Study
Congdon, Tim; Goodhart, Charles A.E.; Eisenbeis, Robert A. - 2009
In August 2007 the United Kingdom experienced its first bank run in over 140 years. Although Northern Rock was not a particularly large bank (it was at the time ranked 7th in terms of assets) it was nevertheless a significant retail bank and a substantial mortgage lender. In fact, ten years...
Persistent link: https://www.econbiz.de/10011689937