About ARIA: ARIA is devoted to the study and promotion of risk and insurance economics. Our membership is comprised of academics, scholars, professionals, and industry veterans who represent a community committed to collaboration among people interested in the study of risk and insurance, and to...

Papers presented at the annual meeting will mostly include those submitted by individuals. Session chairs are also invited to propose a full session of up to three papers based on a specific topic. ARIA encourages a broad and varied participation thus the highest quality meeting for attendees...

Upon assuming control of Baoshang Bank, Chinese bank regulators announced that they would eschew bailing out large creditors of this city-level distressed bank in full. This paper investigates the consequences of this unexpected deviation from the long-standing full bailout policy. Employing a...

We examine the effect of regional favoritism on firms’ access to credit. Using firm-level data on a large sample of 29,000 firms covering 48 countries, we investigate the hypothesis that access to credit of firms is higher in the birth regions of national political leaders. We find evidence...

We evaluate the impact of loan-to-value restrictions on household financial vulnerability. Using Norwegian tax data, we first document a beneficial leverage effect, in which households respond to the regulation by reducing house purchase probabilities, debt and interest expenses. Second, we...

Academics, doctoral students, government and non-governmental agency personnel, regulators, professionals, and other researchers are encouraged to submit a proposal to present their best research. Papers on any risk or insurance related topics are welcome. Specific subject areas include, but are...

Using an international panel of banks, we study whether banks’ capitalization and risk-taking are shaped by their prior economic experience. We find that, on average, bank’s past undercapitalization experience leads to more prudent lending and higher capitalization. However, we show that...

This paper sheds light on the effectiveness of policies addressing high non-performing loans (NPLs). Using data on ownership of subsidiaries of foreign banks in Emerging Europe, we first show that changes in NPLs of parent banks are associated with changes in NPLs of their foreign affiliates,...

Does income inequality affect banks' credit-risk reallocation when facing financial distress? Using novel branch-level data on Colombian banks I find that facing a large liquidity shock, exposed banks shift more credit towards low-risk borrowers in municipalities with higher income inequality....

We present unique data on governance in Russian financial institutions. Despite the recent introduction of the corporate governance code, we observe large cross-sectional differences in the composition of supervisory and executive boards of directors of Russian banks. We begin analyzing the data...