Little is known about the drivers and effectiveness of personal as opposed to real loan guarantees provided by firms. This paper studies a dataset of 477,209 loan contracts granted over the 2006-2014 period by one Spanish financial institution consisting of several distinguishable organisational...

In this paper we measure the systemic risk in a set of large international banks. We first measure the contribution of a financial institution to international systemic risk. Importantly, we show the existence of an asymmetric non-linear contribution of banks to systemic risk depending on...

We propose a novel methodology to characterize the investor decision making process. By drawing logical paths in a structural equation model (SEM) framework, we uncover the role of a latent financial risk index that is simultaneously shaping the dynamics of different financial asset prices. Our...

We provide a new measure of sovereign country risk exposure to global sovereign tail risk (SCRE) based on information incorporated in 5-year sovereign CDS spreads. Our panel regressions with quarterly data from 53 countries show that macro risks have strong explanatory power for SCRE. After...

This paper empirically characterizes relationship lending using data from more than 20,000 loans of a Spanish bank to small and medium enterprises (SMEs). The study analyzes the pricing determinants of loans to firms based on the entire previous bank-firm relationship, allowing for the...

Chapter 1. Omni-channel operations: Challenges, opportunities, and models -- Chapter 2. New Functions of Physical Stores in the Age of Omnichannel Retailing -- Chapter 3. Omni-Channel Assortment Planning -- Chapter 4. Returns Policies and Smart Salvaging: Benefiting From a Multi-Channel World --...