In this paper we study top executive turnover in Italian Banks over the period 1993-2001. We relate the probability of survival of top executives (Presidents, CEOs and General Managers) to bank performance and the manager's local connections, controlling for (observable and unobservable) bank...

Exploiting the Japanese banking crisis as a laboratory, we provide firm-level evidence on the real effects of bank bailouts. Government recapitalizations result in positive abnormal returns for the clients of recapitalized banks. After recapitalizations, banks extend larger loans to their...

Effizienz und Kostendifferenzen im Ländervergleich auf einem geeinten europäischen Bankenmarkt In diesem Beitrag werden Niveau und Streuung der Effizienz von Banken in der EU untersucht. Bankeffizienz ist im Lichte des derzeitigen sowie des zu erwartenden stärkeren Wettbewerbs in Europa für...

Gewinnstrukturbeziehungen und Fusionen im europäischen Bankensektor: Eine empirische Untersuchung Die empirische Forschung liefert den Beweis für eine Beziehung zwischen Marktstrukturen und Rentabilität im europäischen Bankensektor. In diesem Beitrag werden diverse Marktmacht- und...

Wird durch M&A-Transaktionen in der europäischen Bankenindustrie Shareholder Value generiert? Vor dem Hintergrund des scheinbaren Widerspruchs zwischen starker und jüngst erneut zunehmender M&A-Tätigkeit in der Bankenindustrie einerseits und der auf Basis der Forschung dokumentierten...

Improving the regulation of banks has been at the centre of economic policy actions since the outbreak of the global financial crisis. One of the many and conceptually very different measures proposed is to improve the corporate governance of banks by setting qualification standards for banks"...

An unprecedented process of financial consolidation has taken place in the European Union over the past decade. Building on earlier US evidence, we examine the impact of strategic similarities between bidders and targets on post-merger financial performance. We find that, on average, bank...

The paper investigates small business lending as an information problem. It models the effects of information asymmetries within the bank combined with fixed wages. Two kinds of inefficiencies arise in equilibrium: the credit officer either sometimes shirks or he is occasionally fired. In both...

We study the effect of interbank market integration on small firm finance in the build-up to the 2007-2008 financial crisis. We use a comprehensive data set that contains contract terms on individual loans to 6,047 firms across 14 European countries between 1998:01 and 2005:12. We account for...

In this paper we deal with the measurement of technical efficiency (or X-efficiency) of institutions whose operations might be significantly affected by macroeconomic, environmental and non-controllable factors. For this purpose we introduce a four-stage DEA methodology based on the approach...