Narrow search
Showing 1 - 10 of 179
Cover Image
An Analysis of the Competitive Situation on the EU Rating Market in Context of Regulatory Requirements
Meeh-Bunse, Gunther; Schomaker, Stefan - 2020
criticism. This was associated with stricter regulatory requirements to ease the situation. The EU-Regulation on credit rating … agencies ("CRA-Regulation") coming into force 2009 and its amendments in 2011 and in 2013 have mainly governed such regulation … rating market in the context of the CRA-Regulation. Selected key figures are used to observe over a defined period of time if …
Persistent link: https://www.econbiz.de/10012288761
Cover Image
Regulating a highly concentrated industry: Implications fromDodd-Frank
Rieber, Alexander - 2021
Using an international sample of more than 65,000 rating actions by Fitch, Moody's and S&P, we analyze the effect of the Dodd-Frank Act on credit ratings. We document that (i) rating report content changes significantly after Dodd-Frank and (ii) show, by exploiting within firm-quarter variation,...
Persistent link: https://www.econbiz.de/10012623180
Cover Image
What drives banks' geographic expansion? The role of locally non-diversifiable risk
Schüwer, Ulrich; Gropp, Reint E.; Noth, Felix - 2016
Why do some banks react to deregulation by expanding geographically while others do not? This paper examines this question using exogenous variation in locally non-diversifiable risk that banks face in their home state. As a measure of locally non-diversifiable risk we use data on damages...
Persistent link: https://www.econbiz.de/10011528012
Cover Image
Non-bank finance for firms. The role of private equity funds in north-western Italy
Coin, Daniele; Vacca, Valerio - 2014
Using fund-, firm- and bank-level data we investigate the investments of private equity (PE) funds in the north-western regions of Italy. Both the private equity fund managers and the PE investments are heavily concentrated in this most developed area of the country. The average size of the...
Persistent link: https://www.econbiz.de/10011399935
Cover Image
Bank Capital Regulation and Endogenous Shadow Banking Crises
Poeschl, Johannes; Zhang, Xue - 2019
We study the macroeconomic effects of bank capital requirements in an economy with two banking sectors. Banks are connected through a wholesale funding market. Anticipated banking crises occur endogenously in the form of self-fulfilling wholesale funding rollover crises. Retail bank capital...
Persistent link: https://www.econbiz.de/10012099082
Cover Image
When Credit Expansions Become Troublesome: The Story of Investor Sentiments
Poeschl, Johannes; Gerba, Eddie; Leiva-Leon, Danilo - 2023
Persistent link: https://www.econbiz.de/10014363785
Cover Image
Financial Advice: An Improvement for Worse?
Karabulut, Yigitcan - 2010
Using a unique administrative data set from a large German commercial bank, this paper aims to ascertain the role of financial advisors in individual portfolios. Following on the heels of the ongoing regulatory and political debate as to the merits of financial advice, we focus in this paper on...
Persistent link: https://www.econbiz.de/10010270126
Cover Image
Financial Intermediation, Asset Prices, and Macroeconomic Dynamics
Moench, Emanuel; Adrian, Tobias; Shin, Hyun Song - 2010
Fluctuations in the aggregate balance sheets of financial intermediaries provide a window on the joint determination of asset prices and macroeconomic aggregates. We document that financial intermediary balance sheets contain strong predictive power for future excess returns on a broad set of...
Persistent link: https://www.econbiz.de/10010270243
Cover Image
Macroeconomic Factors and Bank Risk
Prieto, Esteban; Buch, Claudia M.; Eickmeier, Sandra - 2010
The interplay between banks and the macroeconomy is of key importance for financial and economic stability. We analyze this link using a Factor Augmented Vector Autoregressive Model (FAVAR) which extends a standard VAR for the U.S. macroeconomy with a set of factors summarizing conditions in the...
Persistent link: https://www.econbiz.de/10010270276
Cover Image
Exports Versus FDI Revisited: Does Finance Matter
Schnitzer, Monika; Buch, Claudia M.; Kesternich, Iris; … - 2010
The crisis on international financial markets that started in 2007 has shown the potential links between the financial sector and the real economy. Exports and foreign direct investment (FDI) have declined, presumably not only because of a lack of demand, but also because of restricted access of...
Persistent link: https://www.econbiz.de/10010271899