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Risk Sensitivity of Banks, Interbank Markets and the Effects of Liquidity Regulation

Pausch, Thilo - 2013

regulatory liquidity requirements on bank behavior. A multi-stage decision situation allows for considering the interaction … between credit risk and liquidity risk of banks. This interaction is found to make a risk neutral bank behave as if it were … risk averse in an environment where there is no interbank market and liquidity regulation. Introducing a buoyant interbank …

Persistent link: https://www.econbiz.de/10010329244

Convert-to-Surrender Bonds: A Proposal of How to Reduce Risk-Taking Incentives in the Banking System

Berg, Tobias; Kaserer, Christoph - 2011

We argue that contingent convertible capital (CoCo-Bonds) might have perverse risk-taking incentives for banks (asset substitution problem) and discourage them from investing in positive NPV projects and issuing new equity in times of crisis (debt overhang problem). Whenever the conversion price...

Persistent link: https://www.econbiz.de/10010305972

Basel III and CEO compensation: a new regulation attempt after the crisis

Eufinger, Christian; Gill, Andrej - 2012

The paper analyzes the interaction between an endogenous capital structure and investment decision, and the incentive scheme of bank executives. We show that the implementation of capital requirements, which are contingent on compensation schemes, drive a wedge between the interests of the...

Persistent link: https://www.econbiz.de/10010310121

On the ranking consistency of global systemic risk measures: empirical evidence

Abendschein, Michael; Grundke, Peter - 2018

We empirically analyze to which extent popular global systemic risk measures (SRMs) yield comparable results with respect to the systemic importance of a financial institution and, in particular, from which determinants the degree of consistency of the classification by the various SRMs depends....

Persistent link: https://www.econbiz.de/10011892128

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

Costless Capital Requirements

Flore, Raphael - 2017

Arguments for costs of capital requirements in the long run are based on trade-off theories of capital structure. This paper provides a critical assessment of these theories by studying how the optimal capital structure can be modified, when a firm uses the financial markets to alter its cash...

Persistent link: https://www.econbiz.de/10011712739

Holes in the Dike: the global savings glut, U.S. house prices and the long shadow of banking deregulation

Stewen, Iryna; Hoffmann, Mathias - 2015

We explore empirically how capital inflows into the US and financial deregulation within the United States interacted in driving the run-up (and subsequent decline) in US housing prices over the period 1990-2010. To obtain an ex ante measure of financial liberalization, we focus on the history...

Persistent link: https://www.econbiz.de/10011301430

Deposit Withdrawals from Distressed Commercial Banks

Guin, Benjamin; Brown, Martin; Morkötter, Stefan - 2015

withdraw deposits. Our findings provide empirical support to the Basel III liquidity regulations which emphasize the role of …

Persistent link: https://www.econbiz.de/10011301677

The Political Economy of Bank Bailouts

Haselmann, Rainer; Kick, Thomas; Behn, Markus; Vig, Vikrant - 2015

In this paper, we examine how the institutional design affects the outcome of bank bailout decisions. In the German savings bank sector, distress events can be resolved by local politicians or a state-level association. We show that decisions by local politicians with close links to the bank are...

Persistent link: https://www.econbiz.de/10011301678

Drivers of Systemic Risk: Do National and European Perspectives Differ?

Krause, Thomas; Buch, Claudia M.; Tonzer, Lena - 2015

Mitigating the negative externalities that systemic risk can create for the financial system is the goal of macroprudential supervision. In Europe, macroprudential supervision is conducted both, at the national and at the European level. In principle, national regulators are responsible for...

Persistent link: https://www.econbiz.de/10011301699

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