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In the light of the recent financial crisis, the discussion on the nature of runs and on the stabilizing role of liquidity holdings has intensified. This paper explores the cash management conducted by German open-end equity funds for the period between 2005 and 2010. Since ownership structures...
Persistent link: https://www.econbiz.de/10010202775
In the light of the recent financial crisis, the discussion on the nature of runs and on the stabilizing role of liquidity holdings has intensified. This paper explores the cash management conducted by German open-end equity funds for the period between 2005 and 2010. Since ownership structures...
Persistent link: https://www.econbiz.de/10013072782
In the light of the recent financial crisis, the discussion on the nature of runs and on the stabilizing role of liquidity holdings has intensified. This paper explores the cash management conducted by German open-end equity funds for the period between 2005 and 2010. Since ownership structures...
Persistent link: https://www.econbiz.de/10012988654
Recent empirical evidence suggests that US industrial firms invest heavily in noncash, risky financial assets. Using hand-collected data on financial portfolios of German firms, we show that risky asset holdings are not an anomaly unique to the US. We find that industrial firms in Germany invest...
Persistent link: https://www.econbiz.de/10012490916
to non-banks do not transform sight deposits into illiquid assets as intensively as savings banks with high shares of non-bank … how bank size and the individual bank's position in the interbank market affect liquid assets. -- Liquid assets ; sight …
Persistent link: https://www.econbiz.de/10003813179
During the last years the lending business has come under considerable competitive pressure and bank managers often … are able to explain the financial performance of bank lending activities. The analysis is based on the CFS-data-set that …
Persistent link: https://www.econbiz.de/10009768846
We studied information and interaction processes in six lending relationships between a universal bank and medium sized …, bank monitoring is based mainly on cheap, retrospective and internal data. In case of distress, more expensive, prospective … firm's investments might leave the bank in a very strong bargaining position and distort investment incentives. Therefore …
Persistent link: https://www.econbiz.de/10009768853
In this paper we stress-test credit portfolios of 28 German banks based on a Mertontype multi-factor credit risk model. The ad-hoc stress scenario is an economic downturn in the automobile industry that constitutes an exceptional but plausible event suggested by historical data. Rather than on a...
Persistent link: https://www.econbiz.de/10003813026
How does bank distress impact their customers' probability of default and trade credit availability? We address this … question by looking at a unique sample of German firms from 2000 to 2011. We follow their firm-bank relationships through times … of distress and crisis, featuring the different transmission of bank distress shocks into already weakened firm balance …
Persistent link: https://www.econbiz.de/10012860838
How does bank distress impact their customers' probability of default and trade credit availability? We address this … question by looking at a unique sample of German firms from 2000 to 2011. We follow their firm-bank relationships through times … of distress and crisis, featuring the different transmission of bank distress shocks into already weakened firm balance …
Persistent link: https://www.econbiz.de/10012847227