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Bank rescues and bailout expectations : the erosion of market discipline during the financial crisis
Hett, Florian; Schmidt, Alexander - 2013
We show that market discipline, defined as the extent to which firm specific risk characteristics are re ected in market prices, eroded during the recent financial crisis in 2008. We design a novel test of changes in market discipline based on the relation between firm specific risk...
Persistent link: https://www.econbiz.de/10010226557
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De Facto Bank Bailouts
Ngo, Phong T. H. - 2020
sovereign default -- a de facto bailout. Consistent with this, the likelihood a defaulting sovereign is granted an IMF loan is …
Persistent link: https://www.econbiz.de/10012838768
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The Effect of Bank Bailouts in the EU
Barucci, Emilio - 2018
The financial crisis renewed the debate on the bailout of financial institutions, questioning the effectiveness of such …
Persistent link: https://www.econbiz.de/10012925194
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Bail-In vs Bail-Out : Bank Resolution and Liability Structure
Leanza, Luca - 2019
postponing default; 2) a positive probability of bail-out destroys credibility with dramatic effects on financial risk-taking, to …
Persistent link: https://www.econbiz.de/10012893415
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On the Need for a Fiscal Backstop to the Banking System
Schoenmaker, Dirk - 2016
In the aftermath of the financial crisis, governments are rightly reducing their exposure to the banking system. Bail-in arrangements should ensure that shareholders and creditors take the first losses. The next line of defence is a resolution fund, which is filled via levies on banks....
Persistent link: https://www.econbiz.de/10013006142
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U.S. Bank Structure, Fragility, Bailout, and Failure during the U.S. Financial Crisis
Lu, Wenling - 2016
likelihood of a bank bailout or failure during the late 2000s financial crisis. The empirical results indicate that established … received bailout funds are similar except that holding a large proportion of nonperforming loans reduced the likelihood that a … bank received bailout funds. Overall, these results are consistent with regulators providing bailout funds to banks that …
Persistent link: https://www.econbiz.de/10013008003
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Limits on State-Funded Bailouts in the EU Bank Resolution Regime
Hadjiemmanuil, Christos - 2017
in the form of the Bank Recovery and Resolution Directive. The paper discusses the anti-bailout objective of the two …
Persistent link: https://www.econbiz.de/10012963737
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Equity Recourse Notes : Creating Counter-Cyclical Bank Capital
Bulow, Jeremy - 2015
We propose a new form of hybrid capital for banks, Equity Recourse Notes (ERNs), which (1) ameliorate booms and busts by creating counter-cyclical incentives for banks to raise capital, and so encourage bank lending in bad times; (2) help solve the too-big-to-fail problem; and (3) reduce the...
Persistent link: https://www.econbiz.de/10013032524
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Bank Bailouts in Europe and Bank Performance
Gerhardt, Maria - 2018
equity ratio, loan quality and bank size are the main determinants of bank bailout involvement. However, the aided banks …
Persistent link: https://www.econbiz.de/10012934952
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Did Connected Hedge Funds Benefit From Bank Bailouts During the Financial Crisis?
Faff, Robert W. - 2019
We examine whether connected hedge funds (i.e. those that are prime-brokerage clients of bailout banks) benefited from … bailout programs initiated in seven countries during the 2007–2009 financial crisis. We find that being connected to a bailout … smaller during the post bailout period, for example, due to the greater risk-taking and higher leverage of such funds …
Persistent link: https://www.econbiz.de/10012906178