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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 ...
Elections hinder firms’ access to credit
(09.02.2022)
BOFIT Discussion Papers 3/2022
BOFIT Discussion Papers 3/2022
To analyze whether the occurrence of elections affects access to credit for firms, we perform an investigation using firm-level data covering 44 developed and developing countries. The results show that elections impair ...
Managing bank liquidity hoarding during uncertain times : The role of board gender diversity.
(02.11.2022)
BOFIT Discussion Papers 11/2022
BOFIT Discussion Papers 11/2022
This paper examines the effect of executive board gender diversity on the relationship between economic policy uncertainty (EPU) and bank liquidity hoarding (LH). We focus on the Russian banking sector, which, relative to ...
Trade conflicts and credit supply spillovers : Evidence from the Nobel Peace Prize trade shock
(21.10.2022)
BOFIT Discussion Papers 8/2022
BOFIT Discussion Papers 8/2022
In this paper, we examine how a trade conflict’s impact on the real economy can be amplified by financial intermediaries. After the Norwegian Nobel Peace Prize Committee awarded the 2010 Nobel Peace Prize to Chinese dissident ...
The politics of bank failures in Russia
(13.09.2022)
BOFIT Discussion Papers 7/2022
BOFIT Discussion Papers 7/2022
Russia has witnessed a high number of bank failures over the last two decades. Using monthly data for 2002-2020, spanning four election cycles, we test the hypothesis that bank failures are less likely before presidential ...