Following a period of subdued consumer price changes, inflation has recently surged to levels that are significantly impacting the behavior of households and firms. Although the underlying sources of inflation differ across major advanced economies, central banks have progressively tightened...

The main result of the quick reactions of the Federal Reserve (the Fed) and the European Central Bank (ECB) to the Covid-19 crisis are that more than 20% of their public debt is now held by these central banks and that the balance sheet of the ECB is now near 50% of GDP (33% for the Fed). Two...

The European Banking Authority (EBA) released new interest rate risk in the banking book (IRRBB) guidelines in July 2018. Complying with the new EBA rules will be a stiff challenge for many banks given the short transition period and the current state of their IRRBB setup. But most importantly,...

Articles 37(10) and 56-58 of Directive 2014/59/EU of the European Parliament and of the Council, of 15 May 2014, “establishing a framework for the recovery and resolution of credit institutions and investment firms (...)” (hereinafter the ‘BRRD') govern the provision of ‘extraordinary...

European corporate law and corporate governance are moving ahead beyond expectation. Some British voices called this “a renaissance in the past decade”. In December 2012, the European Commission came forward with an Action Plan that combines both corporate law and corporate governance rules...

In this chapter, we analyse current trends in the regulation and practice of executive remuneration. No doubt, the role of regulation in this area is on the rise, particularly after the recent financial crisis, and the standards as to pay governance and structures are spreading from the...

The aim of this study is to explore the previously unresearched outcomes of firms funded through equity crowdfunding, a novel type of entrepreneurial finance. We study the outcomes of a sample of 337 firms funded on equity crowdfunding platforms in Europe between 2009 and 2014. By incorporating...

This paper extends Ellul and Yerramilli's (2013) risk governance index for U.S. banks to international banks across 33 countries, using that index to examine relations between national codes of governance, individual bank risk governance and both risk and performance outcome measures in periods...

This paper is the first to empirically study the effects of different types of corporate culture on the risk-taking behavior of European banks. Based on a text analysis approach following the competing values framework, we analyze a hand-collected sample of 167 European banks from 2005 to 2015....

The global impact of the COVID-19 pandemic has been staggering, with over 4.3 million confirmed cases and over 290,000 deaths reported worldwide. In addition to the public health crisis, the pandemic has caused significant economic disruption, leading to fears of a global recession. The...