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The impact of the financial crisis on investments in innovative firms
Giebel, Marek; Kraft, Kornelius - 2015
This paper investigates the impact of the financial crisis on investment decisions in innovative versus non … more likely to suffer from the financial crisis and to reduce their investment expenditures in general. To some extent … investment growth than non-innovative firms. …
Persistent link: https://www.econbiz.de/10011339805
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Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis
Chan-Lau, Jorge A. - 2012
This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....
Persistent link: https://www.econbiz.de/10013098630
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Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis
Chan-Lau, Jorge A. - 2012
This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....
Persistent link: https://www.econbiz.de/10013104113
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Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis
Chan-Lau, Jorge A. - 2016
This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....
Persistent link: https://www.econbiz.de/10012988766
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The spillover effects of prudential regulation on banking competition
Ferri, Giovanni; Pesic, Valerio - In: Vierteljahrshefte zur Wirtschaftsforschung 89 (2020) 1, pp. 59-99
European supervisors aggressively requested more capital at large banks. That may cut credit to the economy. We confirm that especially larger banks cut loans while less-significant banks partly offset that credit drop. Moreover, we identify nasty spillovers from that interaction. Specifically,...
Persistent link: https://www.econbiz.de/10012507218
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Investment in productivity and the long-run effect of financial crises in output
Ridder, Maarten de - 2016
This paper analyzes the channels through which financial crises exert long-term negative effects on output. Recent models suggest that a shortfall in productivity-enhancing investments temporarily slows technological progress, creating a gap between pre-crisis trend and actual GDP. This...
Persistent link: https://www.econbiz.de/10011573282
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Financial stability policies and bank lending : quasi-experimental evidence from Federal Reserve interventions in 1920-21
Rieder, Kilian - 2020
I estimate the comparative causal effects of monetary policy "leaning against the wind" (LAW) and macroprudential policy on bank-level lending and leverage by drawing on a single natural experiment. In 1920, when U.S. monetary policy was still decentralized, four Federal Reserve Banks...
Persistent link: https://www.econbiz.de/10012318753
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Innovation and export in SMEs : the role of relationship banking
Frazzoni, Serena; Mancusi, Maria Luisa; Rotondi, Zeno; … - 2014
This paper assesses the role of relationship lending in explaining simultaneously the innovation activity of Small and … SME's increased propensity to introduce product innovation. We further discuss the financial and non-financial channels …
Persistent link: https://www.econbiz.de/10011774346
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Do Banks Benefit from Lending to Innovative Firms?
Chen, Chu - 2016
We show that there is a U-shaped relationship between bank loan spread and borrower innovation activity, which … indicates a ceiling for bank profit from lending to innovative firms. Experienced banks can benefit from lending to innovation … only expertise banks in lending to innovative borrowers have the ability to evaluate innovation. And innovation efficiency …
Persistent link: https://www.econbiz.de/10012984248
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Lending to Innovative Firms
Chava, Sudheer; Nanda, Vikram K.; Xiao, Steven Chong - 2016
Is bank financing compatible with innovation? We show that an exogenous enhancement in value of borrowers' patents … discontinuity design, we show while R\&D investment drops sharply following a financial covenant violation, the reduction is …
Persistent link: https://www.econbiz.de/10014153567