Haku
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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, ...
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 ...
Bank risk-taking and monetary policy transmission : Evidence from China
(29.10.2021)
BOFIT Discussion Papers 15/2021
BOFIT Discussion Papers 15/2021
We study the impact of China’s 2013 implementation of Basel III on bank risk-taking and its responses to monetary policy shocks using confidential loan-level data from a large Chinese bank. Guided by theory, we use a ...
The vanishing interest income of Chinese banks
(05.02.2020)
BOFIT Discussion Papers 2/2020
BOFIT Discussion Papers 2/2020
Chinese banks likely have more non-performing loans (NPLs) than officially reported. As hidden NPLs earn no interest income, loan quality problems may erode the gross interest income of banks. Using stochastic frontier ...