- Cost of Soft Information and Lending Technology Choice
10 November 2021
Relationship lending has an advantage over transactions-based lending from the viewpoint of information richness. Although financial intermediaries use not only relationship lending but also…
- Regulating Systemic Risk
Report · 10 April 2010
The failure to spot emerging systemic risk and prevent the current global financial crisis warrants a reexamination of the approach taken so far to crisis prevention. The paper argues that financial…
- Financial Supervision in Ireland: Where to Now?
Report · 19 July 2011
The papers outlines the regulatory failure associated with the Irish banking crisis 2008-2010. The papers aim is to parse out the weaknesses in the supervisory system and providing a number of…
- Banks' Strategic Responses to Supervisory Coverage: Evidence from a Natural Experiment
23 February 2017
We study how supervisory coverage affects syndicated lending. Relying on an unexpected change in supervisory coverage, we document that the costs of bank credit for borrowers excluded from…
- Using Market Information in Prudential Bank Supervision: A Review of the U.S. Empirical Evidence
10 April 1998
In principle, market and government supervision provide alternative devices for controlling (governing) any type of corporation. Most national governments have instituted nonmarket regulatory…
- The Responsive Approach by the Basel Committee (on Banking Supervision) to Regulation: Meta Risk Regulation, the Internal Ratings Based Approaches and the Advanced Measurement Approaches
13 August 2009
The use of complex and sophisticated financial instruments, such as derivatives, in the modern financial environment, has triggered the emergence of new forms of risks. As well as the need to manage…
- Supervisory Incentives in a Banking Union
9 December 2016
We explore the behavior of supervisors when a centralized agency has full power over all decisions regarding banks, but relies on local supervisors to collect the information necessary to act. This…
- Architecture of Financial Supervisory Authorities and the Basel Core Principles
Report · 19 May 2006
This paper analyses theoretically and empirically the architecture of supervisory powers, including the role of the central bank and the degree of integration of banking supervision with the…
- 기술평가지표와 거시경제요인을 활용한 중소기업 부도예측모형 (SME Default Prediction Model with Technology Evaluation Index and Macroeconomic Factors)
Report · 1 June 2023
Korean Abstract: 본 연구는 국내 중소기업의 기술사업화위험을 예측함에 있어서 최근에 활용이 확대되고 있는 기술평가에 더하여 거시경제변수를 포함하는 것이 유용한지에 대해 분석하였다. 연구분석은 부도가능성을 모형화하는 주요 방법론 중 하나인 Cox 비례해저드 모형(1972)과 거시경제변수의 차원 축소로 활용되는 주성분분석을 적용하였다. 본 연구의…
- Entrepreneurship and Technology Choice with Limited Contract Enforcement
13 January 2012
Cross-country data shows a strong positive correlation between the level of financial contract enforcement and macroeconomic development. This paper emphasizes the role of entrepreneurial investment…
- Corporate Governance of Banks after the Financial Crisis - Theory, Evidence, Reforms
17 August 2009
Poor corporate governance of banks has increasingly been acknowledged as an important cause of the recent financial crisis. Given the developments since the Asian financial crisis in 1997, this fact…
- How and When Exercising Financial Supervision Can Enhance Central Bank's Independence
4 August 2012
ording to the current literature concentrating monetary policy and supervisory policy functions in the central bank weakens the anti-inflationary credibility of this institution. In this paper we…
- Distributed Ledger Technology for Securities Clearing and Settlement: Benefits, Risks, and Regulatory Implications
Report · 13 December 2018
This article outlines the benefits and risks of the distributed ledger technology (DLT) for the clearing and settlement phase of the trade life cycle and describes its potential role for central…
- Financial Regulation and Supervision in the Euro Area: A Four-Peak Proposal
Report · 9 May 2001
In this paper, we discuss pros and cons of different models for financial market regulation and supervision and we present a proposal for the re-organisation of regulatory and supervisory agencies in…
- Analysis of the Impact of Financial Technology on Capital Allocation Efficiency—— Empirical Evidence from Chinese A-Share Listed Companies
Report · 28 August 2024
Improving the efficiency of corporate capital allocation is the microfoundation for promoting high-quality economic development. Starting from the Cobb-Douglas production function, this paper…
- The Costs of Supervisory Fragmentation in Europe
17 January 2005
Financial markets in Europe become more and more integrated. The persisting fragmentation of financial supervision, however, constitutes a lasting obstacle to integration. The aim of this paper is to…
- Innovate to Survive: The Effect of Technology Competition on Corporate Bankruptcy
13 November 2008
This paper establishes a strong relation between technology competition and corporate bankruptcy. Using detailed firm-level patent data we show that: 1) the capability of firms to innovate predicts…
- Can Technology Finance Model Truly Realize "Innovation-Driven Development"?
Report · 10 January 2024
We construct a dynamic stochastic general equilibrium model to analyze the effects of technology finance models, including technology subsidy, credit control target, and capital market direct…
- Empowering the ECB to Supervise Banks: A Choice-Based Approach
Report · 14 January 2009
The reform of bank supervision represents one of the great institutional challenges for the European Union. The recent pattern of cross-border failures in supervision reflects the extent to which a…
- Central Bankers as Supervisors: Do Crises Matter?
27 April 2015
Following the 2007-09 Global Financial Crisis many countries have changed their financial supervisory architecture by increasing the involvement of central banks in supervision. This has led many…
- Fostering Centralization of EU Banking Supervision Through Case-Law. The European Court of Justice and the Role of the European Central Bank
Report · 14 May 2019
fter almost five years from its entry into force, the Single Supervisory Mechanism (“SSM”) established by Regulation 1024/2013 of 15 October 2013, in force since November 4, 2014 (“SSM Regulation”)…
- Modelling Systemically Important Banks vis-à-vis the Basel Prudential Guidelines
Report · 28 March 2022
Our paper investigates Indonesia’s systemically important banks (SIBs) using theoretical approaches—CoVaR, marginal expected shortfall (MES), and SRISK—to compare with the Basel guidelines as…
- Supervisory Shopping in the Banking Sector: When is it Socially Desirable?
25 August 2015
This paper analyzes the welfare impact of supervisory shopping in the banking sector. Supervisory shopping leads to a welfare-increasing "race to the top" among supervisors, if strong supervision…
- Borrower Technology Similarity and Bank Loan Contracting
22 September 2023
Do banks accumulate knowledge about corporate technology, and does it matter for their lending? To answer this question, we combine corporate innovation with syndicated loan data. We find that loans…
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