Haku
Viitteet 1-10 / 35
The income elasticity of mortgage loan demand
(04.04.2019)
Financial Markets, Institutions and Instruments 2 ; May
Financial Markets, Institutions and Instruments 2 ; May
One explanation for the emergence of the housing market bubble and the subprime crisis is that increases in individuals’ income led to higher increases in the amount of mortgage loans demanded, especially for the middle ...
Entrenchment through corporate social responsibility: Evidence from CEO network centrality
(26.04.2019)
International Review of Financial Analysis November ; 2019
International Review of Financial Analysis November ; 2019
This paper investigates whether CEOs with high network centrality entrench themselves when taking CSR decisions and how that affects firm value. Evidence portrays that CSR in firms with more central CEOs is negatively ...
Corporate Misconduct and the Cost of Private Debt : Evidence from China
(15.09.2019)
Comparative Economic Studies 3 ; September
Comparative Economic Studies 3 ; September
Using a comprehensive dataset of corporate lawsuits in China, we investigate the implications of corporate misconduct on the cost of private debt. Evidence reveals that firms involved in litigations obtain subsequent loans ...
In search of Fluctuations : Another Look at China's Incredibly Stable GDP Growth Rates
(01.09.2019)
Comparative Economic Studies 3 ; September
Comparative Economic Studies 3 ; September
China’s official real GDP growth has held surprisingly stable in recent years. As national GDP figures influence both policy analysis and political decisions, the GDP growth rate of the Chinese economy has also great ...
Foreign ownership, bank information environments, and the international mobility of corporate governance
(20.05.2019)
Journal of International Business Studies 9 ; December
Journal of International Business Studies 9 ; December
This paper investigates how foreign ownership shapes bank information environments. Using a sample of listed banks from 60 countries over 1997–2012, we show that foreign ownership is significantly associated with greater ...
Bank Stability and the European Deposit Insurance Scheme
(15.05.2019)
Revue de l'OFCE Special issue 2019
Revue de l'OFCE Special issue 2019
Empirical evidence shows that a financial distress, faced by a bank or the whole economy, might cause large-scale withdrawals of deposits even when bank deposits are protected by deposit insurance, implicitly or explicitly ...
Walk on the Wild Side : Temporarily Unstable Paths and Multiplicative Sunspots
(15.05.2019)
American Economic Review 5 ; May
American Economic Review 5 ; May
We propose a generalization of the rational expectations framework to allow for temporarily unstable paths. Our approach introduces multiplicative sunspot shocks and it yields drifting parameters and stochastic volatility. ...
Regulation of short-term consumer credits
(08.04.2019)
Journal of Banking Regulation 4 ; December
Journal of Banking Regulation 4 ; December
The regulation of short-term consumer credit markets is heatedly debated around the world. This article uses economic research as a basis for a qualitative assessment of the regulation of the short-term consumer credit ...
Trust in Banks
(15.01.2019)
Journal of Economic Behavior and Organization January
Journal of Economic Behavior and Organization January
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 the ...
Fiscal Policy Multipliers in an RBC Model with Learning
(15.01.2019)
Macroeconomic Dynamics 1
Macroeconomic Dynamics 1
Using the standard real business cycle model with lump-sum taxes, we analyze the impact of fiscal policy when agents form expectations using adaptive learning rather than rational expectations (RE). The output multipliers ...