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Banks as corporate monitors: Evidence from CEO turnovers in China
(19.12.2016)
BOFIT Discussion Papers 19/2016
BOFIT Discussion Papers 19/2016
This paper examines the governance role of banks in replacement of underperforming CEOs in firms listed on Chinese stock exchanges. Under most circumstances, the findings suggest that the presence of outstanding loans ...
Reserve requirements and the bank lending channel in China
(21.09.2015)
BOFIT Discussion Papers 26/2015
BOFIT Discussion Papers 26/2015
This paper examines how reserve requirements influence the transmission of monetary policy through the bank lending channel in China while also taking into account the role of bank ownership. The implementation of Chinese ...
Did foreign banks “cut and run” or stay committed to Emerging Europe during the crises?
(04.11.2015)
BOFIT Discussion Papers 31/2015
BOFIT Discussion Papers 31/2015
Our objective is to examine empirically the behavior of foreign banks regarding real loan growth during a financial crisis for a set of countries in which these banks dominate the banking sectors due primarily to having ...
Do banks extract informational rents through collateral?
(17.03.2016)
BOFIT Discussion Papers 5/2016
BOFIT Discussion Papers 5/2016
This paper investigates if relationship lending and bank market concentration permit informational rent extraction through collateral. We use equity IPOs as informational shocks that erode rent seeking opportunities. Using ...
Does bank competition reduce cost of credit? Cross-country evidence from Europe
(30.03.2016)
BOFIT Discussion Papers 6/2016
BOFIT Discussion Papers 6/2016
Despite the extensive debate on the effects of bank competition, only a handful of single-country studies deal with the impact of bank competition on the cost of credit. We contribute to the literature by investigating the ...
Trust in banks
(13.05.2016)
BOFIT Discussion Papers 7/2016
BOFIT Discussion Papers 7/2016
Trust in banks is considered essential for an effective financial system, yet little is known about what determines trust in banks. Only a handful of single-country studies discuss the topic, so this paper aims to fill ...
Bank ownership and cost efficiency in Russia, revisited
(27.07.2015)
BOFIT Discussion Papers 22/2015
BOFIT Discussion Papers 22/2015
This paper considers the comparative efficiency of public, private, and foreign banks in Rus-sia, a transition economy with several unusual features. We perform stochastic frontier anal-ysis (SFA) of Russian bank-level ...
A note on money creation in emerging market economies
(15.03.2016)
BOFIT Discussion Papers 4/2016
BOFIT Discussion Papers 4/2016
This paper discusses the money creation mechanisms in emerging markets with special focus on external transactions. We argue that one should not rule out the possibility that fluctuations in the loans-to-deposits and ...
Banking structure, marketization and small business development: Regional evidence from China
(27.03.2015)
BOFIT Discussion Papers 11/2015
BOFIT Discussion Papers 11/2015
This paper provides an empirical examination of the regional banking structures in China and their effects on entrepreneurial activity. Using a panel of 27 provinces and four directly controlled municipalities from 1997 ...
Monetary policy transmission in China: A DSGE model with parallel shadow banking and interest rate control
(09.03.2015)
BOFIT Discussion Papers 9/2015
BOFIT Discussion Papers 9/2015
The paper sheds light on the interplay between monetary policy, the commercial banking sector and the shadow banking sector in mainland China by means of a nonlinear stochastic general equilibrium (DSGE) model with ...