This paper examines whether multinational banks have a stabilising or a destabilising role during times of financial distress. With a focus on Europe, it looks at how these banks' foreign affiliates have been faring during the recent financial crisis. It finds that retail and corporate lending...

"This paper examines whether multinational banks have a stabilizing or a destabilizing role during times of financial distress. With a focus on Europe, it looks at how these banks' foreign affiliates have been faring during the recent financial crisis. It finds that retail and corporate lending...

Guarantees have a primary role in debt contracts. They alter the risk for the lender, transform borrowers' incentives and, eventually, modify the equilibrium allocation of financial resources. This paper studies the role of guarantees on bank loans, using a sample of over 50,000 individual lines...

This paper investigates the determinants of the pattern of banks' foreign investment using firm-level data on foreign subsidiaries for a representative sample of 260 large banks from the OECD countries. The empirical analysis shows that measures of the potential profit opportunities in the...

This paper investigates the determinants of the pattern of banks' foreign investment. We extended previous analyses in three directions. First, we use a unique database that includes information on 260 large banks from OECD countries and all their foreign branches and subsidiaries in each one of...

In recent years there has been a surge in mergers and aquisitions in all sectors of economic activity. Cross-border operations have followed this trend, creating global companies operating in all major world markets. In this paper we study the pattern of cross-border Mamp;As in the banking...

In recent years there has been a surge in mergers and aquisitions in all sectors of economic activity. Cross-border operations have followed this trend, creating global companies operating in all major world markets. In this paper we study the pattern of cross-border Mamp;As in the banking...

In order to verify whether a delegated monitor can certify its ability to perform its assigned tasks, we test whether syndicated loans in which a larger share of the facility is retained by the arranger have lower interest rates. For a large sample of syndicated loans in over 80 countries during...

This paper investigates what factors might help explain the internationalization strategy of banks and insurance companies, by comparing the determinants of cross-border Mamp;As in the two sectors in a unified framework. The empirical analysis shows that between 1990 and 2003 the...

This paper examines whether multinational banks have a stabilising or a destabilising role during times of financial distress. With a focus on Europe, it looks at how these banks’ foreign affiliates have been faring during the recent financial crisis. It finds that retail and corporate lending...