In diesem Beitrag untersuchen wir die Rolle von Genossenschaftsbanken, Kreditbanken und Sparkassen bei der Vergabe langfristiger Kredite an junge, kleine Unternehmen. Dies geschieht am Beispiel von Krediten aus öffentlichen Förderprogrammen, die in Deutschland einen substantiellen Anteil aller...

We study the role of banking relationships in IPO underwriting. Among other issues, we consider whether banking relationships lead to increased access to public equity markets, especially for smaller, lesserknown firms. When a firm in Japan goes public, it can engage an investment bank that is...

The subprime crisis highlights how little we know about the governance of banks. This paper addresses a long-standing gap in the literature by analyzing board governance using a sample of banking firm data that spans forty years. We examine the relationship between board structure (size and...

I model multimarket competition when consumers value firm scope across markets. Such competition is surprisingly common – consumers in many industries prefer firms that operate in more geographic and/or product markets. I show that these preferences permit firms of differing scopes to coexist...

The use of contractual engineering to create channels of credit intermediation outside of the realm of banking regulation has been a recurring activity in Western financial systems over the last 50 years. After the financial crisis of 2007 and 2008, this phenomenon, at that time commonly...

This paper brings to the forefront the assumptions that we make when focusing on a particular type of explanation for bank profitability. We evaluate a broad field of research by introducing a general framework for a profit maximizing bank and demonstrate how different types of models can be...

Custodians play a key but discrete role in the global financial market infrastructure. In Europe, they are licensed as "credit institutions ", a legal requirement for European deposit-taking institutions, and therefore they face the same prudential requirements as "traditional" banks. However,...

This paper examines the link between bank competition measures and risk indicators using quarterly interbank exposures data for all banks in Mexico during 2008Q1-2019Q1. The classical literature focuses on disentangling the link between competition and individual bank solvency risk. In this...

We demonstrate that the co-existence of different motives for liquidity preferences profoundly affects the efficiency of financial intermediation. Liquidity preferences arise because consumers wish to take precautions against sudden and unforeseen expenditure needs, and because investors want to...

This paper contributes to the debate on the adequate regulatory treatment of non-bank financial intermediation (NBFI). It proposes an avenue for regulators to keep regulatory arbitrage under control and preserve sufficient space for efficient financial innovation at the same time. We argue for a...