We use an innovative methodology to analyze social responsibility in double bottom line institutions such as microfinance institutions. We provide empirical evidence on the distribution of the generated surplus between the key stakeholders of one of the most famous MFIs worldwide: Banco...

In light of the recent financial and economic crisis the present paper analyzes the determinants of loan default. We employ a unique firm-level panel data of 700 bank loans given to small and medium sized enterprises in Slovakia between 2000 and 2005 to investigate three loan default hypothesis....

We demonstrate improvements in predictive power when introducing spline functions to take account of highly non-linear relationships between firm failure and earnings, leverage, and liquidity in a logistic bankruptcy model. Our results show that modeling excessive non-linearities yields...

Changes in credit market architecture are an important but unobservable structural influence on economic activity. For Australian data, we model non-price credit supply conditions within equilibrium correction models of consumption, house prices, mortgage credit and housing equity withdrawal....

La banca y las finanzas son inherentemente procíclicas, una condición exacerbada por la combinación de Basilea II y la contabilidad a valor de mercado (mark-to-market accounting), por lo que se requiere crear políticas macroprudenciales anticíclicas. Esta fragilidad se vio intensificada por...

Durante la última década el Perú ha experimentado un exitoso proceso de desdolarización financiera impulsado por factores de mercado. El nivel de dolarización de los créditos y depósitos en el sistema bancario - en todos los sectores y plazos - se ha reducido, observándose una mayor...

Over the last 30 years, the business mix of banks in Canada has changed significantly. Progress in information-processing technology, legislative changes, and market forces have combined to blur the traditional distinctions between banks and other financial institutions and have allowed banks to...

After a long crisis, economic recovery requires funding in economy, especially of companies by means of commercial banking, in such a way that a credit must become again one of the most important banking products, where deposit interests reached historical minimums. How will banks succeed to...

We model a banker's future bonuses as a series of call options on the bank's profits and show that bonus caps and deferrals reduce risk-taking. However, the banker's optimal risk-taking also depends on the costs of risk-taking. We calibrate the model to US banking data and show that lengthening...