Search Results - subject_exact:"Surety"

Loan guarantees and the internationalisation of Indian firms

Mani, Sunil - 2026

This paper analyses the role of loan guarantees in supporting the internationalisation of Indian firms through outward foreign direct investment (OFDI) since the mid-2000s. Despite a persistent domestic savings-investment gap and recurrent current account deficits, Indian OFDI has expanded...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015596706

The effect of debt guarantees and risk exposure on bank salaries in Switzerland

Sheldon, George - 2026

It is well known that state bank debt guarantees create a significant moral hazard problem by encouraging banks to invest in more risk in the pursuit of higher returns, knowing that the state will bail them out if they fail. Researchers have recently postulated that the higher returns stemming...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015656468

Pricing liquidity support : a PLB for Switzerland

Monnet, Cyril; Niepelt, Dirk; Taudien, Remo - 2025

The proposed revision of the Swiss Banking Act introduces a public liquidity backstop (PLB) for distressed systemically important banks (SIBs), in part to facilitate resolution. We examine the impact of the PLB on fiscal balances, societal welfare, and the incentives of bank shareholders and...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015323465

The demand for loan guarantees in the UK 1981-2018 : time series analysis

Cowling, Marc; Káčer, Marek; Wilson, Nicholas - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015508684

Purpose matters : impact of public loan guarantees on business growth

Kotamäki, Mauri - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015467390

Legal risks and social bonds : how does information about risks affect the willingness to grant a third-party loan guarantee?

Beckmann, Elisabeth; Bergmann, Söhnke; Hainz, Christa; … - 2025

Loan guarantees can enhance access to credit, but serving as a private guarantor may also increase financial vulnerability. We examine, through a randomized information experiment in the UK, how providing information about the legal ramifications and risks of loan guarantees affects...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015434403

Who benefits from government guarantees : evidence from Saitdol loans

Kim, Meeroo - 2025

This study investigates whether Saitdol loans, a type of governmentguaranteed loan, were allocated to groups that would otherwise be unable to access the loan market without such a guarantee. To assess this, both non-parametric and parametric estimation methods, as proposed by Hendren (2013),...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015415799

Sovereign loan guarantees and financial stability

Lorenzo, Ivan de; Pinheiro, Tiago - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015558718

How does a small firm end up with a more expensive loan guarantee when a cheaper and safer one was on offer? : the intriguing case of two UK Covid-19 guarantee schemes

Cowling, Marc; Wilson, Nicholas; Liu, Weixi - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015062395

Does inflation trigger early repayment on Covid-19 UK guaranteed loans?

Cowling, Marc; Wilson, Nicholas - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015075574

The labor market effects of loan guarantee programs

Barrot, Jean-Noël; Martin, Thorsten; Sauvagnat, Julien; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015046476

Government-guaranteed credit and populism

Dautovic, Ernest; Hsieh, Robin - 2024

The phenomenon of political populism and its financial determinants have proved elusive. We utilise the sudden and uneven change in credit conditions during the COVID-19 pandemic and the unprecedented government credit guarantee programme in France to investigate whether liquidity support to...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015178549

A new family of modified Gaussian copulas for market consistent valuation of government guarantees

Cerqueti, Roy; Cesarone, Francesco; Heusch, Maria C.; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015134056

Impact of implicit government guarantee on the credit spread of urban construction investment bonds

Chen, Rongda; Li, Han; Tang, Xuhui; Jin, Chenglu; … - 2024

Financing sources for urban construction have garnered significant attention globally. Among various financing methods, the urban construction investment bond (UCIB) is unique to China. The UCIB credit spread, which represents the compensation for credit risk, has become a focal point for...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015359359

Loan guarantee, management earnings forecasts and cost of debt : evidence from Chinese manufacturing firms

Khan, Muhammad Bilal; Kayani, Umar Nawaz; Saleem, Hummera; … - 2024

One of the most pressing issues facing developing economies is how to provide expansion capital for existing businesses. However, this issue is more pressing in China, where private enterprises suffer significant financial constraints from capital market limitations. Therefore, the significance...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015386994

The global financial crisis : features and resolution

Erastov, Vasyl; Balytska, Mariia - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015651047

Guaranteeing Trade in a Severe Crisis : Cash Collateral Over Bank Guarantees

Kotidis, Antonis; MacDonald, Margaux; Malliaropulos, … - 2023

Banks guarantee international trade through letters of credit. This paper analyzes what happens to trade when the critical role of banks as trade guarantors is compromised. Using the case of the Greek capital controls in 2015, the events around which led to a massive loss of confidence in the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014256876

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Guaranteeing Trade in a Severe Crisis: Cash Collateral over Bank Guarantees

Kotidis, Antonis - 2023

Book / Working Paper

Guaranteeing trade in a severe crisis : cash collateral over bank guarantees

Kotidis, Antonis; MacDonald, Margaux; Malliaropulos, … - 2023

Book / Working Paper

Concentrating on Bailouts : Government Guarantees and Bank Asset Composition

Eufinger, Christian; Gorostiaga, Juan Pablo; Richter, Björn - 2023

This paper studies the link between government guarantees for banks and bank asset concentration. We show theoretically that these guarantees, when combined with high leverage, incentivize banks to further invest in asset classes they are already heavily exposed to: the risk-taking via asset...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014349428

Two-Stage Investment Model With Loan Guarantees and Share Buybacks

Dong, Linjia; Nishihara, Michi; Yang, Zhaojun - 2023

We consider an entrepreneur who has an option to invest in an irreversible but delayable project. If the project is sufficiently profitable, the firm has an option to make a growth investment, which makes the project cash flow increase by a constant factor. The entrepreneur has no money to...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014350689

The risk of implicit guarantees : evidence from shadow banks in China

Ji, Huang; Huang, Zongbo; Shao, Xiang - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014318312

COVID-19 lending support and regional levelling up : evidence from UK loan guarantee schemes

Cowling, Marc; Nightingale, Paul; Wilson, Nicholas - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014420240

A market consistent approach to the valuation of no-negative equity guarantees and equity release mortgages

Buckner, Dean; Dowd, Kevin; Hulley, Hardy - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014365093

Impact of the loan guarantees program reactiva on the performance of Peruvian companies

Ceron, Marcos; Cisneros, Gerald; Nivin, Rafael - 2023

Amid the global COVID-19 crisis, governments worldwide introduced measures to support private enterprises. This study utilizes a newly curated panel database, encompassing the financial records of firms in Peru, to investigate the impact of a substantial governmentbacked loan guarantee program,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014368450

Optimal strategies of contract-farming supply chain under the cooperative mode of bank-insurance : loan guarantee insurance versus yield insurance

Shi, Ligang; Pang, Tao; Peng, Hongjun - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014259160

Risk sharing, SMEs’ financial strategy, and lending guarantee technology

Saci, Karima; Mansour, Walid - 2023

Several governments use the Credit Guarantee Schemes to ease SMEs' access to funding and support their growth and survival. This paper suggests a lending guarantee technology based on risk sharing through a de facto shareholding agreement to cover potential losses and reduce the premature...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014234373

Implicit guarantees and the rise of shadow banking : the case of trust products

Allen, Franklin; Gu, Xian; Wei Li, C.; Qian, Jun; Qian, … - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014336175

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Implicit Guarantees and the Rise of Shadow Banking : The Case of Trust Products

Allen, Franklin; Gu, Xian; Wei Li, C.; Qian, Jun "QJ"; … - 2023

Book / Working Paper

Do costly internal equity injections reveal bank expectations about post-crisis real outcomes?

Gupta, Arun; Sapriza, Horacio - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013499247

Two-stage investment, loan guarantees and share buybacks

Dong, Linjia; Nishihara, Michi; Yang, Zhaojun - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014480335

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Two-Stage Investment, Loan Guarantees and Share Buybacks

Dong, Linjia; Nishihara, Michi; Yang, Zhaojun - 2023

Book / Working Paper

Two-Stage Investment, Loan Guarantees and Share Buybacks

Dong, Linjia; Nishihara, Michi; Yang, Zhaojun - 2022

Book / Working Paper

Sweden : Bank Support Authority, Blanket Guarantee, 1992

Makhija, Anmol - 2023

Following a period of rapid financial liberalization and a record credit boom in the 1980s, Sweden’s financial system suffered its worst shock in the post–World War II period. Swedish banks were heavily dependent on foreign credit, which dried up amid signs of instability. The Swedish...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014258489

Mexico : FOBAPROA Blanket Guarantee, 1993–1994

Schaefer-Brown, Stella - 2023

On December 22, 1994, the Mexican government allowed the peso to float freely against the US dollar, aggravating the run on peso deposits, leading to the rapid devaluation of the peso, and sparking the peso crisis. The following week, the Bank of Mexico announced that the Mexican deposit insurer...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014258490

Thailand : FIDF Blanket Guarantee, 1997

George, Ayodeji - 2023

The Thai government’s decision to allow the baht to float in July 1997 was the pivotal event of the Asian Financial Crisis. The baht fell 20% by the end of the month, further pressuring Thai financial institutions that had borrowed heavily in US dollars and other foreign currencies. In early...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014258520

Korea : Blanket Guarantee, 1997

Decker, Bailey - 2023

Korea entered the Asian Financial Crisis in August 1997 with highly leveraged firms and a banking system inexperienced in managing systemic risk. Korea faced a currency crisis and a banking crisis, as foreign banks froze credit to Korean commercial banks and merchant banks. On August 25, 1997,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014258521

Indonesia : Blanket Guarantee, 1998

George, Ayodeji - 2023

The Indonesian government closed 16 banks on November 1, 1997. At the time, the government said it would guarantee depositors up to 20 million Indonesian rupiah (IDR; USD 6,000) per account. The lack of immediate full protection for large depositors caused deposit runs throughout the banking...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014258525

Finland : Government Guarantee Fund, blanket guarantee, 1992

Makhija, Anmol - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014249259

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Finland : Government Guarantee Fund, Blanket Guarantee, 1992

Makhija, Anmol - 2023

Book / Working Paper

Ecuador : Blanket Guarantee, 1998

Decker, Bailey - 2023

After a series of exogenous shocks hit the Ecuadorian economy in 1997–1998, foreign creditors reassessed their emerging-market risk and reduced external credit lines to Ecuador, thus draining liquidity. The closure of a small bank called Solbanco in April 1998 triggered deposit runs at other...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014258536

Denmark : general guarantee scheme, 2008

Hoffner, Benjamin - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014249252

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Denmark : General Guarantee Scheme, 2008

Hoffner, Ben - 2023

Book / Working Paper

The Impact of Government Loan Guarantees on Smes' Credit Availability and Performance Evidence from China

Huang, Peng; Liu, Zehao; Tan, Xin - 2023

We evaluate the effects of government loan guarantees (GLGs) on small- and medium-sized enterprises’ (SMEs) credit availability, profitability, and expenditure on research and development (R&D) in China, using data of establishing government loan guarantee platforms (GLGPs) and financial...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014354786

Loan Guarantees and Incentives for Information Acquisition

Stillerman, David - 2023

To address credit constraints in small-business lending markets, policymakers frequently use loan guarantees, which insure lenders against default. Guarantees affect loan prices by altering the effective marginal cost of lending but may create a moral hazard problem, weakening lenders’...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014355134

Guaranteeing Trade in a Severe Crisis : Cash Collateral Over Bank Guarantees

MacDonald, Margaux; Koitids, Antonis; Malliaropulos, … - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014261784

How does government-backed finance affect SMEs' crisis predictors?

Gai, Lorenzo; Arcuri, Maria Cristina; Ielasi, Federica - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014424548

Bonding the gap : surety bond guarantee, defaults, and small businesses

Patel, Pankaj - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015386673

Local government debts and corporate bond spreads : evidence from China

Ye, Haoming; Wang, Yan; Yang, Xiaoguang - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015506506

Strategic financing options in a supply chain facing guarantee shortages and capital constraints under demand uncertainty

Zhu, Xiaoliang; Yan, Yingchen; Yang, Guoqing - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015433250

The dual effect of upper-level government implicit guarantees on subordinate municipal corporate bond credit risk : an empirical analysis

Cao, Xiao; Gu, Runsheng; Ji, Xiaoqing; Li, Yuhang; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015405045

ESG transition incentives with loan guarantees

Xu, Wenyang; Yang, Zhaojun; Zhu, Nanhui - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015407960

Transmission of guarantor risk and its influence on bond credit spreads

Liang, Shenbao; Li, Zhimin - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015410453

Shadow banking, implicit guarantees, and risk-taking

Guo, Shen; Jiang, Zheng - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015626959

G20/OECD Report on blended finance derisking measures : The case of guarantees and credit enhancement instruments

2025

This G20/OECD report explores how guarantees and credit enhancements can better contribute to the mobilisation of private capital towards sustainable infrastructure in emerging markets and developing economies, and what policy actions can be taken to improve the accessibility and functioning of...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015630470

When expectations of implicit government guarantees diminished, do retail stock investors run away?

Tang, Lin; Zhuo, Zhi; Zou, Hong - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015558618

Third-party loan guarantees : measuring literacy and its effect on financial decisions

Beckmann, Elisabeth; Hainz, Christa; Reiter, Sarah - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012939077