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Pecking order models of international finance suggest that countries should become less reliant on international bank lending as they develop. Reduced information costs are one of the factors behind this trend towards disintermediation. This paper presents a simple model on the choice between...
Persistent link: https://www.econbiz.de/10011473710
Foreign currency loans to the unhedged non-banking sector are remarkably prevalent in Europe and create a significant … exchange-rate-induced credit risk to European banking sectors. In particular, Swiss franc (CHF)-denominated loans, popular in … that banks in Europe have continuously held more foreign-currency-denominated assets than liabilities, indicating their …
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bargaining power in default, operating in more competitive product markets, and facing lower credit supply are more likely to …
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-affiliated, and low-leverage companies incline more towards this strategy. Credit rating, debt maturity, financial and interest …
Persistent link: https://www.econbiz.de/10012587447
This paper is one of the first to investigate the determinants of bond issuance by European banks. We use a unique database of around 50,000 bonds issued by 63 banks from 14 European countries, allowing us to differentiate between different types of long-term debt securities. By investigating at...
Persistent link: https://www.econbiz.de/10013014489
. Despite the hype, equity crowdfunding is still the smallest. Due to exemptions in legislations, Europe has been at the … start-ups can play job creation and economic growth in Europe. In this paper, we assess the potential role of equity …
Persistent link: https://www.econbiz.de/10013046686
This paper is one of the first to investigate the determinants of bond issuance by European banks. We use a unique database of around 50,000 bonds issued by 63 banks from 14 European countries to test explicitly a broad set of hypotheses on the drivers of bond issuance. The sample covers the two...
Persistent link: https://www.econbiz.de/10012981753
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