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A second-generation model of currency crises is combined with a standard model ofbanks as providers of insurance against liquidity risk. In a pegged exchange rateregime, after funds have been committed to the banks, news arrives about the qualityof the banks’ assets and about the exchange rate...
Persistent link: https://www.econbiz.de/10005868800
Persistent link: https://www.econbiz.de/10010302116
Diskussion möglicher Optionen zur Verbesserung der Finanzsystemstabilität rückt zunehmend die Corporate Governance in Banken in … verdeutlicht einen substanziellen Einfluss beider Aspekte. Banken mit kompetenteren Vorstandsteams wiesen signifikant bessere … Heterogenität, sowohl zwischen einzelnen Banken als auch zwischen Geschäftsbereichen. Betrachtet man die Kapitalmarktbereiche der …
Persistent link: https://www.econbiz.de/10011698354
Private banks often blame state guarantees to distort competition by giving public banks the advantage of lower funding costs. In this paper I show that if borrowers perceive the public bank as supporting economic development, private banks may be able to separate firms by self selection, enter...
Persistent link: https://www.econbiz.de/10003636044
This study shows that the presence of imperfect competition in the banking system propagates external shocks and amplifies the business cycle. Strategic limit pricing, aimed at protecting retail niches from potential competitors, generates countercyclical bank markups. Markup increments during...
Persistent link: https://www.econbiz.de/10003730512
In this paper we review the actual operational data of an anonymous Central European Bank, using two approaches described in the literature: the loss distribution approach and the extreme value theory (EVTʺ). Within the EVT analysis, two estimation methods were applied; the standard maximum...
Persistent link: https://www.econbiz.de/10003755227
This study demarcates cost-inefficiency in Chinese banks into X-inefficiency and rent-seeking-inefficiency. A protected banking market not only encourages weak management and X-inefficiency but also public ownership and state directed lending encourages moral hazard and bureaucratic rent...
Persistent link: https://www.econbiz.de/10003785299
A growing body of literature indicates that competition increases bank soundness. Applying an industrial organization based approach to large data sets for European and U.S. banks, we offer new empirical evidence that efficiency plays a key role in the transmission from competition to soundness....
Persistent link: https://www.econbiz.de/10003789457
The subprime crisis highlights how little we know about the governance of banks. This paper addresses a long-standing gap in the literature by analyzing board governance using a sample of banking firm data that spans forty years. We examine the relationship between board structure (size and...
Persistent link: https://www.econbiz.de/10003781557
In this paper we study top executive turnover in Italian Banks over the period 1993-2001. We relate the probability of survival of top executives (Presidents, CEOs and General Managers) to bank performance and the manager's local connections, controlling for (observable and unobservable) bank...
Persistent link: https://www.econbiz.de/10003772161