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Leverage and growth: effect of stock options

Francis, Bill; Hasan, Iftekhar; Sharma, Zenu - Suomen Pankki - 2011

This paper investigates the potential effects of stock options on managers’ investment decisions and therefore on a firm’s growth or, alternatively, on its leverage-growth relationship. To structure the analysis addressing this issue, the paper utilizes a framework establishing a negative...

Persistent link: https://www.econbiz.de/10009358948

Banking after regulatory reforms - business as usual? : a joint publication with the Bank of Finland

Jokivuolle, Esa (ed., introduction); … - SUERF/Bank of Finland Conference Banking after …; … - 2014

The 5th joint SUERF/Bank of Finland joint conference was held in Helsinki on 13 June 2013. The general theme of the conference was to focus on the regulatory reforms after the global financial crisis and, in particular, how structural reforms of banking ("Volcker, Vickers and Liikanen") could...

Persistent link: https://www.econbiz.de/10011711934

Contagion in the interbank network: An epidemiological approach

Toivanen, Mervi - Suomen Pankki - 2013

method to model the spreading of the contagion in the interbank network by implementing an epidemiologic model. Actual data … on European banks is exploited with simulated scale-free networks. The average contagion affected 70% and 40% of European … of contagion. Bank clustering, large incoming interbank loans and bank reputation are more prominent explanatory …

Persistent link: https://www.econbiz.de/10010818996

The transparency of the banking industry and the efficiency of information-based bank runs

Chen, Yehning; Hasan, Iftekhar - Suomen Pankki - 2005

In this paper, we investigate the relationship between the transparency of banks and the fragility of the banking system. We show that information-based bank runs may be inefficient because the deposit con-tract designed to provide liquidity induces depositors to have excessive incentives to...

Persistent link: https://www.econbiz.de/10005648950

Contagion and interdependence: measuring CEE banking sector co-movements

Jokipii, Terhi; Lucey, Brian - Suomen Pankki - 2006

largest Central and Eastern European Countries (CEECs) can be attributed to contagion or to interdependence. Our tests based … on simple unadjusted correlation analysis uncover evidence of conta-gion between all pairs of countries. Adjusting for … market volatility during turmoil, however, produces dif-ferent results. We then find contagion from the Czech Republic to …

Persistent link: https://www.econbiz.de/10005648954

Financial interlinkages and risk of contagion in the Finnish interbank market

Toivanen, Mervi - Suomen Pankki - 2009

Using the maximum entropy method, this paper estimates the danger of contagion in the Finnish interbank market in 2005 …–2007 as well as the existence of contagion during a Finnish banking crisis. The contagion analysis of the early 1990s is able … that five of ten deposit banks are possible starting points for contagious effects. The magnitude of contagion is …

Persistent link: https://www.econbiz.de/10005648959

Essays on financial crises in emerging markets

Komulainen, Tuomas - Suomen Pankki - 2004

-fulfilling crises were possible. Essay 3 studies financial contagion and develops a model of the international financial system. It uses … contagion. Essay 4 analyses the causes of financial crises in 31 emerging market countries in 1980–2001. A probit model is …

Persistent link: https://www.econbiz.de/10008692076

Improving Banking Supervision

Mayes, David G. - Suomen Pankki - 1998

This paper explains how banking supervision within the EU, and in Finland in particular, can be improved by the implementation of greater market discipline and related changes. Although existing EU law, institutions, market structures and practices of corporate governance restrict the scope for...

Persistent link: https://www.econbiz.de/10005419681

Ending over-lending: Assessing systemic risk with debt to cash flow

Ramsay, Bruce A.; Sarlin, Peter - Suomen Pankki - 2014

This paper operationalizes early theoretical contributions of Hyman Minsky and applies these in the context of economic sectors and nations. Following the view of boom-bust asset cycles, depicted by the endogenous build-up of risks and their abrupt unraveling, Minsky highlighted the relationship...

Persistent link: https://www.econbiz.de/10010819000

Diagnostics for the financial markets – computational studies of payment system: Simulator Seminar Proceedings 2009–2011

Hellqvist, Matti; Laine, Tatu - Suomen Pankki - 2012

This publication consists of fifteen studies on payment and settlement systems conducted using computational or simulation techniques. The studies have been presented at the simulator seminars arranged by the Bank of Finland during the years 2009–2011. The main focus of the studies is on the...

Persistent link: https://www.econbiz.de/10010584387