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Bank valuation and accounting discretion during a financial crisis

Huizinga, Harry; Laeven, Luc - In: Journal of Financial Economics 106 (2012) 3, pp. 614-634

This paper shows that banks overstate the value of distressed assets and their regulatory capital during the US mortgage crisis. Real estate-related assets are overvalued in banks' balance sheets, especially those of bigger banks, compared to the market value of these assets. Banks with large...

Persistent link: https://www.econbiz.de/10010587979

Monetary Policy, Leverage, and Bank Risk-taking

DellAriccia, Giovanni; Laeven, Luc; Marquez, Robert - C.E.P.R. Discussion Papers - 2011

The recent global financial crisis has ignited a debate on whether easy monetary conditions can lead to greater bank risk-taking. We study this issue in a model of leveraged financial intermediaries that endogenously choose the riskiness of their portfolios. When banks can adjust their capital...

Persistent link: https://www.econbiz.de/10008854508

Do bank insiders impede equity issuances?

Goetz, Martin; Laeven, Luc; Levine, Ross - 2021

We evaluate the role of insider ownership in shaping banks' equity issuances in response to the global financial crisis. We construct a unique dataset on the ownership structure of U.S. banks and their equity issuances and discover that greater insider ownership leads to less equity issuances....

Persistent link: https://www.econbiz.de/10012422173

Accounting Discretion of Banks During a Financial Crisis

Laeven, Luc; Huizinga, Harry - International Monetary Fund (IMF) - 2009

This paper shows that banks use accounting discretion to overstate the value of distressed assets. Banks' balance sheets overvalue real estate-related assets compared to the market value of these assets, especially during the U.S. mortgage crisis. Share prices of banks with large exposure to...

Persistent link: https://www.econbiz.de/10008559265

Resolution of Banking Crises; The Good, the Bad, and the Ugly

Laeven, Luc; Valencia, Fabian - International Monetary Fund (IMF) - 2010

This paper presents a new database of systemic banking crises for the period 1970-2009. While there are many …

Persistent link: https://www.econbiz.de/10008560451

Is There a Diversification Discount in Financial Conglomerates?

Laeven, Luc; Levine, Ross - C.E.P.R. Discussion Papers - 2005

This paper investigates whether the diversity of activities conducted by financial institutions influences their market valuations. We find that there is a diversification discount: The market values financial conglomerates that engage in multiple activities, e.g., lending and non-lending...

Persistent link: https://www.econbiz.de/10005124492

Systemic Banking Crises; A New Database

Valencia, Fabian; Laeven, Luc - International Monetary Fund (IMF) - 2008

This paper presents a new database on the timing of systemic banking crises and policy responses to resolve them. The … database covers the universe of systemic banking crises for the period 1970-2007, with detailed data on crisis containment and …. The database extends and builds on the Caprio, Klingebiel, Laeven, and Noguera (2005) banking crisis database, and is the …

Persistent link: https://www.econbiz.de/10005599378

Public guarantees and private banks’ incentives: evidence from the COVID-19 crisis

Jiménez Zambrano, Gabriel; Laeven, Luc; Martínez …

En este documento mostramos que los incentivos privados afectan a la asignación de préstamos con aval público (PGL), lo que da como resultado que los bancos más débiles hayan acabado transfiriendo el riesgo de los préstamos con empresas más arriesgadas a los contribuyentes. En cuanto a la...

Persistent link: https://www.econbiz.de/10014331204

Governance of banks

Laeven, Luc; Levine, Ross - In: Post-crisis banking regulation : evolution of economic …, (pp. 103-108). 2015

Persistent link: https://www.econbiz.de/10011507452

Benefits and costs of bank capital

Dagher, Jihad C.; Dell'Ariccia, Giovanni; Laeven, Luc; … - 2016

to avoid imposing losses on bank creditors or resorting to public recapitalizations of banks in past banking crises. The …

Persistent link: https://www.econbiz.de/10011453230