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Concentration and Competition in Nigerian Banking Industry : A Review
Ajide, Folorunsho - 2015
A competitive market is considered an ideal form of market while the concept of monopolistic competition is more … realistic than perfect competition and pure monopoly. The study reviewed the extent of competitive condition of Nigerian banking … of bank competition could be realized if there is an even distribution of market share in the banking industry as opposed …
Persistent link: https://www.econbiz.de/10013011987
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A Theory of Stock Exchange Competition and Innovation : Will the Market Fix the Market?
Budish, Eric B. - 2020
This paper builds a new model of financial exchange competition, tailored to the institutional details of the modern US …
Persistent link: https://www.econbiz.de/10012849165
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A simple method for extracting the probability of default from American put option prices
Chang, Bo Young; Orosi, Greg - 2020 - Last updated: April 20, 2020
In this paper, we present a novel method to extract the risk-neutral probability of default of a firm from American put option prices. Building on the idea of a default corridor proposed in Carr and Wu (2011), we derive a parsimonious closed-form formula for American put option prices from which...
Persistent link: https://www.econbiz.de/10012216226
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Claim dilution in the municipal debt market
Ivanov, Ivan T.; Zimmermann, Tom - 2017
Using loan-level municipal bank lending data, we examine the debt structure of municipalities and its response to exogenous income shocks. We show that small, more indebted, low-income, and medium credit quality counties are particularly reliant on private bank financing. Low income counties are...
Persistent link: https://www.econbiz.de/10011803813
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Price Discovery in Bitcoin : The Impact of Unregulated Markets
Alexander, Carol - 2020
We analyse minute-level multi-dimensional information flows within and between bitcoin spot and derivatives. We show that perpetual swaps and futures traded on the unregulated exchanges Huobi, OKEx and BitMEX are much the strongest instruments for bitcoin price discovery and we examine potential...
Persistent link: https://www.econbiz.de/10012836055
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A primer on the Canadian bankers' acceptance market
McRae, Kaetlynd; Auger, Danny - 2018
This paper discusses how the bankers' acceptance (BA) market in Canada is organized and its essential link to the Canadian Dollar Offered Rate (CDOR). Globally, BAs are a niche product used only in a limited number of jurisdictions. In Canada, BAs provide a key source of funding for small and...
Persistent link: https://www.econbiz.de/10011863026
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Contagion in dealer networks
Fontaine, Jean-Sébastien; Walton, Adrian - 2020 - Last updated: January 9, 2020
Dealer networks provide essential intermediation services in over-the-counter markets. We document the response of dealer networks to the arrival of new public information. We find that after public news releases, dealer networks become more complex and channel larger flows of securities between...
Persistent link: https://www.econbiz.de/10012150064
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What drives episodes of settlement fails in the government of Canada bond market?
Fontaine, Jean-Sébastien; Pinnington, James; Walton, Adrian - 2017
We study settlement fails for trades in the Government of Canada bond market. We find that settlement fails do not occur independently. Using a novel and comprehensive dataset, we examine three drivers of fails. First, we find that fails are more likely following the release of surprise...
Persistent link: https://www.econbiz.de/10011777849
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Changes in the Size and Structure of the European Union Banking Sector – The Role of Competition between Banks
Pawlowska, Malgorzata - 2016
last global financial crisis and during the crisis, with particular emphasis on the change in concentration and competition …, in an attempt to determine the relationship between competition, concentration, and risk-taking by banks. This paper also … financial stability. The results for competition are unambiguous, as competition had a positive impact on financial stability …
Persistent link: https://www.econbiz.de/10013003893
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Changes in the Size and Structure of the European Union Banking Sector – The Role of Competition between Banks
Pawlowska, Malgorzata - 2015
last global financial crisis and during the crisis, with particular emphasis on the change in concentration and competition …, in an attempt to determine the relationship between competition, concentration, and risk-taking by banks. This paper also … financial stability. The results for competition are unambiguous, as competition had a positive impact on financial stability …
Persistent link: https://www.econbiz.de/10013017784