Publikationen des Forschungsbereichs Altersvorsorge und nachhaltige Finanzmärkte

  1. Discussion und Working Paper // 2017

    Why Do Corporate Depositors Risk Everything for Nothing? The Importance of Deposit Relationships, Interest Rates and Bank Risk

    We analyze more than 75,000 auctions in which banks bid for firm deposits. In each of these auctions, only the firm observes the banks and their bids and decides where to deposit its funds. Our results show that…

  2. Discussion und Working Paper // 2017

    The Zero Risk Fallacy - Banks' Sovereign Exposure and Sovereign Risk Spillovers

    European banks are exposed to a substantial amount of risky sovereign debt. The “missing bank capital” resulting from the zero risk weight exemption for European banks for European sovereign debt amplifies the…

  3. Discussion und Working Paper // 2017

    Diversification or Specialization? An Analysis of Distance and Collaboration in Loan Syndication Networks

    In this paper, we study the organizational form of loan syndicates, how banks choose their syndicate partners and how this affects syndicate structure, loan pricing, and borrower performance. We develop a set of…

  4. Referierte Fachzeitschrift // 2017

    What Do a Million Observations Have to Say About Loan Defaults? Opening the Black Box of Relationships

    Using a unique dataset of more than 1 million loans made by 296 German banks, we evaluate the impact of many aspects of customer–bank relationships on loan default rates. Our research suggests a practical…

  5. Referierte Fachzeitschrift // 2017

    Covenant Violations, Loan Contracting, and Default Risk of Bank Borrowers

    Are borrowers rewarded for repaying their loans? This paper investigates the consequences of covenant violations on subsequent loans to the same borrower using a hand-collected sample of US syndicated loans…

  6. Gutachten // 2017

    Konjunkturindikatoren für China

    Das Projekt hat zum Ziel, die vorhandenen gleichlaufenden und vorlaufenden Konjunkturindikatoren zu systematisieren sowie qualitativ und quantitativ zu beurteilen. Die Analysen sollen herausarbeiten, welche…

  7. ZEW Discussion Paper // 2017

    Evaluating Regulation Within an Artificial Financial System – A Framework and Its Application to the Liquidity Coverage Ratio Regulation

    We develop a general model of the financial system that allows for the evaluation of bank regulation. Our framework comprises the agents and institutions that have proved crucial in the propagation of the…

  8. Referierte Fachzeitschrift // 2017

    A Financially Stressed Euro Area

    The authors analyse 149 newly compiled monthly time series on financial market stress conditions in the euro area. With the aid of a factor model they find different sources of financial stress that are…

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