Since the March 2023 banking turmoil, a policy debate has emerged concerning the unprecedented scale and speed of the observed deposit outflows. Have recent stress episodes and developments in technology structurally changed depositors' behaviour? Are the Basel III liquidity coverage ratio (LCR)...

This study explores the relationship between financial firms' environmental, social, and governance (ESG) activities and their financial stability measured by Altman's Z-score. Based on a dataset of listed financial institutions in Korea, our results indicate a positive association between...

Financial development significantly bolsters a country's economic growth and resilience. Despite increasing focus on the relationship between financial development and economic growth, few studies examine the impact of financial development on domestic investment across countries' income levels....

The paper documents cross-country variation in the relationship between the deposit insurance scheme and liquidity risk in banks and explores the banking sector specific and macroeconomic determinants that can explain the variation. There is a lack of articles exploring the phenomenon in Europe,...

The paper documents cross-country variation in the relationship between the deposit insurance scheme and liquidity risk in banks and explores the banking sector specific and macroeconomic determinants that can explain the variation. There is a lack of articles exploring the phenomenon in Europe,...

Previous studies highlight the limited credit access for farmers compared to non-agricultural firms in sub-Saharan Africa. A new innovation that has the potential to serve the financing needs of farmers in sub-Saharan Africa is digital credit. However, empirical studies on farmers' preferences...

Using real estate investment trusts (REITs) that invest in commercial real estate (CRE) as a leading example, we study the implications for banks of extending credit lines to "shadow banks" or non-bank financial intermediaries (NBFIs). While small and mid-size banks hold an economically...

CLOs fund 65% of syndicated loans, theoretically insulating borrowers from bank and idiosyncratic investor shocks. However, concentrated capital and sticky relationships expose firms to idiosyncratic shocks to insurers, the largest CLO investors. We find that: 1) insurers experiencing favorable...

We develop a credit market competition model that distinguishes between the information span (breadth) and signal precision (quality), capturing the emerging trend in fintech/non-bank lending where traditionally subjective ("soft") information becomes more objective and concrete ("hard"). In a...

This paper studies a form of liquidity risk that we call 'Liquidity After Solvency Hedging' or "LASH" risk. Financial institutions take LASH risk when they hedge against solvency risk, using strategies that require liquidity when the solvency of the institution improves. We focus on LASH risk...

This paper examined the determinants of financial inclusion in Afar Region. To address the objectives of the study, two purposively selected woredas (Awash and Asaita) and one city administration (Samara-logia) were used. Three hundred and eighty-four sample households were selected for this...

This study examines the impact of negative interest rate (NIR) regimes on corporate tax behavior. We argue that NIRs act as a de-facto tax levied by central banks and investigate how this ‘tax’ affects banks’ corporate tax planning. Using a sample of domestic banks in OECD countries and a...

This paper examined the determinants of financial inclusion in Afar Region. To address the objectives of the study, two purposively selected woredas (Awash and Asaita) and one city administration (Samara-logia) were used. Three hundred and eighty-four sample households were selected for this...

Hedge Ratio Variation under Different Energy Market Conditions: New Evidence by Using Quantile-Quantile Approach -- The Use of AI in Metaverse -- What Proportion of the Bitcoin Ecosystem is Controlled by Bots? -- Exploring the Impact of Corporate Social Responsibility on Leverage of Listed...

The paper discusses state, regulative framework, and recent developments in leveraging access to finance for micro, small, and medium-sized enterprises (MSMEs) in the Kyrgyz Republic through global value chain (GVC) examples in the Kyrgyz Republic. Access to finance in the Kyrgyz Republic is...

The report assesses the macro-financial situation in Georgia. This study explores the private sector financing environment, in particular for the SMEs segment. It examines the needs and obstacles of SMEs in accessing finance as well as the institutional and legal environment they operate in. We...

The paper discusses state, regulative framework, and recent developments in leveraging access to finance for micro, small, and medium-sized enterprises (MSMEs) in the Kyrgyz Republic through global value chain (GVC) examples in the Kyrgyz Republic. Access to finance in the Kyrgyz Republic is...

This book examines the interpretation of the risk-based approach (RBA) and its application across the banking industry. It explores the ways conflicting risk interpretation and deconstruction of money laundering risk have unintended consequences across the banking industry. Furthermore, it...

In Thailand, the government has long recognized the importance of small and medium-sized enterprises (SMEs) to the economy and has given a large amount of financial support to this sector. Still, SMEs are not able to catch up with larger enterprises and the constraints to SME financing remain...

In Thailand, the government has long recognized the importance of small and medium-sized enterprises (SMEs) to the economy and has given a large amount of financial support to this sector. Still, SMEs are not able to catch up with larger enterprises and the constraints to SME financing remain...