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This paper investigates the effect of reforms of insolvency regulations on cross-border debt and equity investments at …-indicators on the efficiency of insolvency regulations, we find that investors prefer to invest more in countries with more efficient … insolvency frameworks. The effect, however, differs across sectors, with households and institutional investors being …
Persistent link: https://www.econbiz.de/10012202728
We analyse the impact of macroeconomic and monetary policy shocks on corporate credit risk as measured by firms' probabilities of default (PDs) for the four largest euro area countries. We estimate the impact of shocks on one-year PDs using local projections (LP). For the period 2014-19, we find...
Persistent link: https://www.econbiz.de/10014484468
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The goal of this study is to identify empirically how country-level development, taking into account the financial and macroeconomic environment, affect the risk profiles of the banking sector in Europe. Through a dataset that covers 3,399 European banks spanning the period 1996-2011, and the...
Persistent link: https://www.econbiz.de/10011760927
The importance of assessing financial stability in emerging Europe has increased rapidly since the recent financial crisis. Against this background, in the present paper we contribute to the existing literature in a twofold way: First, by using a broad range of indicators from money, bond,...
Persistent link: https://www.econbiz.de/10009792244
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insolvency regimes do not unduly inhibit corporate restructuring. Thus, leveraging the important complementarities between bank … strengthening efforts and insolvency regime reform would contribute to breaking the shackles on potential growth in Europe. …
Persistent link: https://www.econbiz.de/10011975568
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bankruptcy filing of already insolvent Greek banks. We take the claim regarding insolvency delay as an opportunity to highlight … insolvency. …
Persistent link: https://www.econbiz.de/10011333051