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The frequency with which firms adjust output prices helps explain persistent differences in capital structure across firms. Unconditionally, the most exible-price firms have a 19% higher long-term leverage ratio than the most sticky-price firms, controlling for known determinants of capital...
Persistent link: https://www.econbiz.de/10011597779
aforementioned indicators shows that the performance of Brunei Darussalam in terms of access to banks and financial inclusion had …
Persistent link: https://www.econbiz.de/10013380870
core. The estimated model matches four facts about banks' Tobin's Q that summarize bank leverage dynamics. (1) Book and … nor market leverage constraints are binding for most banks; (4) bank leverage and Tobin's Q are mean reverting but highly …
Persistent link: https://www.econbiz.de/10012649212
regulation on the probability of a crisis. We test this relationship by applying a Probit model of a non-linear specification to …: it rises as regulation stringency moves from low to medium levels and falls from medium to high levels. Countries located …
Persistent link: https://www.econbiz.de/10012030889
We examine the impact of various dimensions of financial reform on the likelihood of systemic and non-systemic banking crises. Using new financial reform measures for a large sample of developing and developed countries for the period 1973 to 2002, our multivariate probit modeling results...
Persistent link: https://www.econbiz.de/10003922715
: banks with a one standard deviation higher IT-adoption experienced 10% lower non-performing loans. High-IT-adoption banks … observable characteristics. Loan-level analysis indicates that high-IT-adoption banks originated mortgages with better … and find that banks led by more "tech-oriented" managers adopted IT more intensively and experienced lower non …
Persistent link: https://www.econbiz.de/10012158713
We analyze the link between banking sector quality and sovereign risk in the whole European Union over 1999–2014. We employ four different indicators of sovereign risk (including market- and opinion-based assessments), a rich set of theoretically and empirically motivated banking sector...
Persistent link: https://www.econbiz.de/10011646829
We analyze link between mortgage-related regulatory penalties levied on banks and the level of systemic risk in the U … the public, long-term systemic risk among banks tends to increase. From the dynamic perspective, bank penalties represent …
Persistent link: https://www.econbiz.de/10012697108
, complementary channel: risk taking. We model banks' portfolio choice under moral hazard and emphasize the "incentive function" of … stability and welfare gains, (ii) a revenue-neutral ACE unambiguously improves financial stability, and (iii) capital regulation …
Persistent link: https://www.econbiz.de/10012417442
We introduce a banking sector and heterogeneous agents in the Matsuyama et al. (2016) dynamic over-lapping generations neoclassical model with good and bad projects. The model captures the benefits and costs of an advanced banking system which can facilitate economic development when allocates...
Persistent link: https://www.econbiz.de/10013465706