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Contagion and the beginning of the crisis - Pre-Lehman period
Király, Júlia; Nagy, Márton; Szabó, Viktor E. - 2008
This paper provides an overview of the antecedents, main drivers and spillover mechanisms of the turbulence emanating … paper concludes that the primary causes of the turmoil were a persistently low international interest rate environment and … thebursting of asset price bubbles collectively were responsible for the magnitude of the distress. The spillover from the turmoil …
Persistent link: https://www.econbiz.de/10010322410
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Contagion and Risk in the Amplification of Crisis : Evidence from Asian Names in the CDS Market
Kim, Don H.; Loretan, Mico; Remolona, Eli M. - East Asian Bureau of Economic Research (EABER) - 2009
In the turmoil of 20072009, troubles in a relatively small corner of the US mortgage market escalated into a crisis of …
Persistent link: https://www.econbiz.de/10009363691
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Dependence on external finance: an inherent industry characteristic?
von Kalckreuth, Ulf; von Furstenberg, George M. - 2006
Rajan and Zingales (1998) use U.S. Compustat firm data for the 1980s to obtain measures of manufacturing sectors? Dependence on External Finance (DEF). They take any differences in these measures to be structural/technological and thus applicable to other countries. Their joint assumptions about...
Persistent link: https://www.econbiz.de/10010295819
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The dynamics in requested and granted loan terms when bank and borrower interact repeatedly
Kirschenmann, Karolin - 2010
This paper studies how credit constraints develop over bank relationships. I analyze a unique dataset of matched loan application and loan contract information and measure credit constraints as the ratio of requested to granted loan amounts. I find that the most important determinants of...
Persistent link: https://www.econbiz.de/10010301521
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Central counterparties
Koeppl, Thorsten V.; Monnet, Cyril - 2008
Central counterparties (CCPs) have increasingly become a cornerstone of financial markets infrastructure. We present a model where trades are time-critical, liquidity is limited and there is limited enforcement of trades. We show a CCP novating trades implements efficient trading behaviour. It...
Persistent link: https://www.econbiz.de/10010303758
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Market discipline across bank governance models: Empirical evidence from German depositors
Arnold, Eva A.; Größl, Ingrid; Koziol, Philipp - 2015
German savers are renowned for preferring safe, long-term investments, thus providing patient capital, with bank deposits playing an important role. Using a unique data set provided by the Deutsche Bundesbank for German banks, we examine whether German depositors are really that patient,...
Persistent link: https://www.econbiz.de/10011341023
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A risk governance approach to managing antitrust risks in the banking industry
Scheld, Denise; Paha, Johannes; Fandrey, Nicolas - 2015
Competition law compliance has become increasingly important in the banking industry as the number of infringements and the associated fines imposed by the European Commission are rising. This article shows that not only governments and regulators, but also shareholders and managers, should be...
Persistent link: https://www.econbiz.de/10011406147
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Stakeholders, transactional algebras and conflict systems (mapping on why the founding charter compact becomes the mainstay of corporate governance)
Apreda, Rodolfo - 2007
In this paper we put forward an alternative approach to dealing with the Charter of any organization, that essential document which ought to be regarded as the mainstay of governance. In the first place, we show that an organization carries out its tasks by becoming a responsive mechanism to...
Persistent link: https://www.econbiz.de/10010323077
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The rise of corporate governance brokers and how they trade in asymmetric information
Apreda, Rodolfo - 2007
This paper sets forth that governance brokerage can be regarded as a natural outgrowth of the actual practice of Corporate Governance. To lay the foundations of our subject, firstly we delve into the dual nature of any transaction. Then we move on to define what the expression governance broker...
Persistent link: https://www.econbiz.de/10010323122
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Asymmetric information and roll-over risk
König, Philipp; Pothier, David - 2014
How do banks choose their debt maturity structure when credit markets are subject to information frictions? This paper proposes a model of equilibrium maturity choice with asymmetric information and endogenous roll-over risk. We show that in the presence of public signals about firms'...
Persistent link: https://www.econbiz.de/10010332848