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Traditional banks, shadow banks and the US credit boom : credit origination versus financing
Unger, Robert - 2016
The US credit boom has been identified as one of the causes of the global financial crisis and the resulting debt overhang is seen as the primary reason for the weak economic recovery. Most of the existing literature links the credit boom to the emergence of the shadow banking system. This paper...
Persistent link: https://www.econbiz.de/10011456517
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The Value of Repeat Lending
Gadanecz, Blaise - 2014
The unique structure of syndicated lending results in information asymmetries within the lending syndicate between banks of varying degrees of seniority. While previous studies have attempted to use indirect proxy measures to capture the effects of such information asymmetries, in this paper we...
Persistent link: https://www.econbiz.de/10013067305
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Advantageous Selection with Intermediaries : A Study of GSE-Securitized Mortgage Loans
Tsai, Hsin-Tien - 2020
reveals that promoting competition among intermediary lenders yields different efficiency effects depending on the subsidy … condition. A 50% decrease in lender concentration further reduces efficiency by $1.39 billion if mortgages are subsidized, and … conversely, increases efficiency by $750.07 million if mortgages are not subsidized …
Persistent link: https://www.econbiz.de/10012837244
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No-fault Default, Chapter 11 Bankruptcy, and Financial Institutions
Merton, Robert C.; Thakor, Richard T. - 2021
This paper analyzes the costs and benefits of a no-fault-default debt structure as an alternative to the typical bankruptcy process. We show that the deadweight costs of bankruptcy can be avoided or substantially reduced through no-fault-default debt, which permits a relatively seamless transfer...
Persistent link: https://www.econbiz.de/10013249095
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It's the tail-risk, stupid!
Thiemann, Matthias; Tröger, Tobias - 2019
The use of contractual engineering to create channels of credit intermediation outside of the realm of banking regulation has been a recurring activity in Western financial systems over the last 50 years. After the financial crisis of 2007 and 2008, this phenomenon, at that time commonly...
Persistent link: https://www.econbiz.de/10012105218
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Bank Sectoral Specialization and Loan Pricing : Worldwide-Based Syndicated Loan Portfolios
Hsieh, Alice; Yu, Hai-Chin - 2023
We propose a worldwide-based loan portfolio to measure banks’ sectoral concentration that features prominently in episodes of bank specialization. We use the banks’ real loan allocation worldwide instead of the in-sample data to compute a bank specialization. We find that firms borrowing...
Persistent link: https://www.econbiz.de/10014254329
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Model risk : an agency theoretic approach ; conference paper
Hakenes, Hendrik; Schlegel, Friederike - 2013
In the recent financial crisis, risk management tools have been proven inadequate. Model risk, a key component of bank risk, has shown its negative impact. It seems that risk models did not cover the included risks comprehensively and were not kept up-to-date by banks, and also rating agencies....
Persistent link: https://www.econbiz.de/10010339401
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Is weather important for US banking? : a study of bank loan inefficiency
Apergēs, Nikolaos; Artikis, Panayiotis G.; Mamatzakis, … - In: Journal of applied finance & banking 2 (2012) 3, pp. 1-38
The impact of strong emotions or mood on decision making and risk taking is well recognized in behavioral economics and finance. Yet, and in spite of the immense interest, no study, so far, has provided any comprehensive evidence on the impact of weather conditions. This paper provides the...
Persistent link: https://www.econbiz.de/10009565392
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Weather Conditions and Bank Loans Efficiency in US Banking : A Panel VAR Approach
Apergis, Nicholas - 2011
An issue that has not been dealt in the literature refers to the relationship between bank loan efficiency and weather … between weather and bank loan efficiency, using a panel data set that includes 69 banks operating in the US spanning the …
Persistent link: https://www.econbiz.de/10013120676
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The Impact of Financial Ratios, Operational Efficiency and Non-Performing Loan Towards Commercial Bank Profitability
Christaria, Fiola - 2017
Ratio (LDR), Operational Efficiency proxies by Operational Expense to Operating Income Ratio (BOPO)and Non-Performing Loan … deduced that Operational Efficiency proxies by Operational Expense to Operating Income Ratio has a significant impact towards …
Persistent link: https://www.econbiz.de/10012952420