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Unconventional monetary policy and productivity : evidence on the risk-seeking channel from us corporate bond markets
Albrizio, Silvia; Conesa, Marina; Dlugosch, Dennis; … - 2019
We examine the relationship between lax monetary policy, access to high-yield bond markets and productivity in the US between 2008 and 2016. Using monetary policy surprises, obtained from changes in interest rates futures in narrow windows around FOMC announcements, we isolate the increased...
Persistent link: https://www.econbiz.de/10011975741
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Market Power and Efficiency in Banking : The Case of USA and Canada
U-Din, Salah - 2018
. This study compares the impact of changing market concentration and power on the efficiency of the major banks in both the … efficiency during the 2007-09 period. Overall, Canadian banks posted better efficiency scores than their US counterparts. We find … that market power had a positive impact and market concentration a negative impact on bank efficiency. Market power is used …
Persistent link: https://www.econbiz.de/10012928215
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Income and Balance Sheet Diversification Effects on Banks’ Cost and Profit Efficiency : Evidence from the US
Abbas, Faisal; Rubbaniy, Ghulame; Ali, Shoaib; Khan, Walayet - 2021
impact of income, asset, and funding diversifications on the cost and profit efficiency of the US commercial banks over the …) effect on the cost efficiency of the banks, while funding (income) diversification has a significantly negative (positive …) effect on profit efficiency. Our findings reveal that during the global financial crisis asset diversification is not …
Persistent link: https://www.econbiz.de/10013223117
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Diminishing American Power : The US - China Trade War, Sanctions, and Coronavirus
Taskinsoy, John - 2020
ambition, or COVID-19 induced recession; it is China's fast acceleration in becoming a game changer in the world order that the …
Persistent link: https://www.econbiz.de/10012825152
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Regulatory dualism as a development strategy : corporate reform in Brazil, the US, and the EU
Gilson, Ronald J.; Hansmann, Henry B.; Pargendler, Mariana - 2010
Countries pursuing economic development confront a fundamental obstacle. Reforms that increase the size of the overall pie are blocked by powerful interests that are threatened by the growth-inducing changes. This problem is conspicuous in efforts to create effective capital markets to support...
Persistent link: https://www.econbiz.de/10009506961
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How investors can (and can't) create social value
Brest, Paul; Gilson, Ronald J.; Wolfson, Mark A. - 2018
Most investors have a single goal: to earn the highest financial return. These socially-neutral investors maximize their risk-adjusted returns and would not accept a lower financial return from an investment that also produced social benefits. An increasing number of socially-motivated investors...
Persistent link: https://www.econbiz.de/10011980089
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Doing safe by doing good : ESG investing and corporate social responsibility in the U.S. and Europe
Bannier, Christina E.; Bofinger, Yannik; Rock, Björn - 2019
This paper examines the profitability of investing according to environmental, social and governance (ESG) criteria in the U.S. and Europe. Based on data from 2003 to 2017, we show that a portfolio long in stocks with the highest ESG scores and short in those with the lowest scores yields a...
Persistent link: https://www.econbiz.de/10012025370
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Dynamic optimal capital structure and technological change
Lööf, Hans - 2003
This paper incorporates the cost of adjustment between observed and optimal leverage in explaining the variation in firm's equity or bank-debt financing investments. Using a dynamic adjustment approach identifies the determinants to capital structure between different financial systems. In...
Persistent link: https://www.econbiz.de/10011448232
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Dynamic optimal capital structure and technological change
Lööf, Hans - 2003
Persistent link: https://www.econbiz.de/10013428541
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Finance, comparative advantage, and resource allocation
Jaud, Melise; Kukenova, Madina; Strieborny, Martin - 2013 - First Draft: May, 2010, This Draft: December 30, 2013
We show that exported products exit the US market sooner if they violate the Heckscher-Ohlin notion of comparative advantage. Crucially, this pattern is stronger when exporting country has a well-developed banking system, measured by a high ratio of bank credit over the GDP. Banks thus push...
Persistent link: https://www.econbiz.de/10011346433