In this study, we empirically assess the determinants of FinTech development for a sample of 28 Sub-Saharan African (SSA) countries over the period from 2007–2018. The results show that: financial development, literacy, regulation, and economic …

We study how the misvaluation of banks affects their loan supply by considering proprietary data on 83 banks from 11 euro-area countries from 2010Q1 to 2019Q4. We measure bank market value by the Tobin’s Q and identify the impact of nonfundamental …

We test whether organizational risk management matters to bondholders of U.S. bank holding companies (BHCs), and find that debt financing costs increase when the BHC has lower-quality risk management. Consistent with bailouts giving rise to moral …

Global systemically important banks (GSIBs) are subject to capital surcharges that increase with systemic importance indicators. We show that U.S. GSIBs lower their surcharges to a large extent by reducing one indicator—the notional amount of …

This paper identifies a contemporaneous substitutional relationship between retail deposits and wholesale funds, while the lagged relationship between the two is rather weak-a finding consistent with our “stable capitalization hypothesis.” We find …

This paper documents that companies with bond issuance are larger, are more leveraged, and have higher financing needs, but have lower observed syndicated loan spreads. Using endogenous treatment and outcome estimations, we find that companies …

We investigate how enterprise risk management (ERM) reshapes firm risk-taking behaviors. Using loan-level data, we find that ERM does not affect bank mortgage loan origination but increases loan sales. To strengthen identification, we employ a …

We investigate the role of alumni ties in university endowments’ decision to invest into private equity funds. Based on a sample of 1,590 commitments made by 189 U.S. endowments into 613 funds during the period of 1995 to 2017, we show that …

We examine the performance-effects of Chief Executive Officer (CEO) co-opted boards in United Kingdom (UK) property-casualty insurers. We report that board insiders appointed in the aftermath of CEO succession reduce profitability, but bolster …

Despite several advantages associated with borrowing from micro-finance institutions, such as self-help groups (SHGs), many enterprises in developing countries continue to rely on informal lenders. Using machine learning techniques on a novel …

Did policy interventions contribute to the gradual segmentation of lending markets starting with the 2007 - 2008 global financial crisis? We investigate this question in an international Cournot duopoly model with equity constraints. Two symmetric …

We examine the effect of bank information on the growth of borrowing firms by using matched bank-firm data from the US credit market. Exploiting the structure of lending syndicates to construct proxies for banks’ information acquisition, we find …

Using a newly compiled dataset of bank board membership over the 1999–2018 period, we find that within-board professional networks are extensive, but female board members are significantly less connected than male directors, both in number and …

We investigate the relationship between pension funds and financial stability in 25 European Union countries for the period from 2001–2017. We find that pension funds significantly reduce financial stress in crisis and non-crisis times but only in …

We use indicators from the Global Financial Development Database to identify the effects of financial fragility on the finance-growth nexus for the period from 2000 to 2014. Regressions on our cross-country sample show that financial fragility and …

In this paper, I analyze the developments in the euro-area primary bond market during the Covid-19 pandemic. The most surprising effect is the significant increase in the share of investment-grade bonds from 15% to 40%. Over the first phases of …

We use the staggered adoption of Universal Demand (UD) laws, which significantly reduces the shareholder litigation rights of listed banks incorporated in 23 US states during the period from 1989 to 2005, as a quasi-natural experiment to examine …

We investigate how local deposit shocks affect bank lending in nonaffected markets for the case where banks mostly neutralize that shock. Colombian banks in oil-producing municipalities experienced deposit outflows after the collapse of oil prices …

This paper provides evidence on how bank performance and strategies vary with the degree of bank internationalization using data for 113 countries during 2000–15. Bank internationalization is associated with lower valuations and lower returns on …