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Determinants of bank closures : Do changes of CAMEL variables matter?
(30.10.2017)
BOFIT Discussion Papers 16/2017
BOFIT Discussion Papers 16/2017
This study examines whether changes in CAMEL variables matter in explaining bank closure. Using a unique set of monthly bank-specific balance sheet data from Russia, we estimate determinants of bank license withdrawals ...
Risks in China’s financial system
(17.01.2018)
BOFIT Discussion Papers 1/2018
BOFIT Discussion Papers 1/2018
Motivated by growing concerns about the risks and instability of China’s financial system, this article reviews several commonly perceived financial risks and discusses their roots in China’s politico-economic institutions. ...
The credit risk of Chinese households : A micro-level assessment
(07.05.2018)
BOFIT Discussion Papers 12/2018
BOFIT Discussion Papers 12/2018
Household borrowing in China has increased considerably in recent years, raising concerns about the household sector’s vulnerability and implications for the stability of the financial system. We construct a number of ...
Deposit insurance, market discipline and bank risk
(27.06.2019)
BOFIT Discussion Papers 10/2019
BOFIT Discussion Papers 10/2019
Using evidence from Russia, we explore the effect of the introduction of deposit insurance on bank risk. Drawing on within-bank variation in the ratio of firm deposits to total household and firm deposits, so as to capture ...
Expected returns and idiosyncratic risk: Industry-level evidence from Russia
(30.10.2015)
BOFIT Discussion Papers 30/2015
BOFIT Discussion Papers 30/2015
In this paper, we explore a relation between expected returns and idiosyncratic risk. As in many emerging markets, investors in the Russian stock market cannot fully diversify their portfolios due to transaction costs, ...
Does a financial crisis change a bank's exposure to risk? A difference-in-differences approach
(28.05.2021)
BOFIT Discussion Papers 8/2021
BOFIT Discussion Papers 8/2021
Can a major financial crisis trigger changes in a bank’s risk-taking behavior? Using the 2008 Global Financial Crisis as a quasi-natural experiment and a difference-in-differences approach, I examine whether the worst ...
Central bank independence and systemic risk
(16.06.2020)
BOFIT Discussion Papers 13/2020
BOFIT Discussion Papers 13/2020
We investigate the relationship of central bank independence and banks’ systemic risk measures. Our results support the case for central bank independence, revealing that central bank independence has a robust, negative, ...
The failure of Chinese peer-to-peer lending platforms : Finance and politics
(15.12.2020)
BOFIT Discussion Papers 27/2020
BOFIT Discussion Papers 27/2020
We investigate the influence of financial and political factors on peer-to-peer (P2P) platform failures in China’s online lending market. Using a competing risk model for platform survival, we show that large platforms, ...
Depositor discipline in Russian regions: Flight to familiarity or trust in local authorities?
(19.01.2017)
BOFIT Discussion Papers 1/2017
BOFIT Discussion Papers 1/2017
We analyze whether a depositor’s familiarity with a bank affects depositor behavior during a financial crisis. Familiarity is measured by the presence of regional or local cues in the bank’s name, while depositor behavior ...
Banks vs. markets : Are banks more effective in facilitating sustainability?
(27.04.2022)
BOFIT Discussion Papers 5/2022
BOFIT Discussion Papers 5/2022
Is bank- versus market-based financing different in its attitudes towards Environmental, Social, and Governance (ESG) risk? Using a novel sample covering 3,783 U.S. public firms from 2007 to 2020, we study how firm-level ...