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  • 1
    Online Resource
    Online Resource
    The state of the banking sector in Europe (2013)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (35 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1102
    Keywords: Bank ; Räumliche Verteilung ; Kapitalstruktur ; Internationaler Kredit ; Europa ; Finance and Investment ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: This paper reviews the state of the banking sector in Europe. At the aggregate level, the empirical data suggest that the Baltics, Cyprus, Greece and Ireland, in particular, are hit by a strong decline in lending in the wake of the financial crisis. This deleveraging is mainly caused by a reduction in cross-border supply of credit. We also examine the capital position of the European banking system, using November 2013 stock market data. In the basic scenario to restore capital to a market based leverage ratio of 3%, EUR 84 billion of extra capital would be needed for the largest 60 banks. At the bank level, the top tertile of well-capitalised banks (with a market based leverage ratio well above 4%) continues lending. By contrast, the 2nd tertile of medium-capitalised banks (between 3 and 4%) and the 3rd tertile of weakly capitalised banks (well below 3%) show a strong decline in lending. Moreover, the market-to-book ratio is below one for these banks. The market thus gives a lower value to these banks. Our findings provide prima facie evidence of a credit crunch in Europe. Another fallout of the financial crisis is an increase, though very modest, of concentration in banking in the distressed countries (Greece, Ireland, Portugal, Spain and Italy). The enhancement of financial stability through (forced) M&As seems to come at the expense of reduced competition.
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: Acrobat Reader.
    DOI: 10.1787/5k3ttg7n4r32-en
    URL: Volltext
    URL: lizenzpflichtig
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  • 2
    Online Resource
    Online Resource
    Corporate Finance for Long-Term Value (2023)
    Cham : Springer International Publishing | Cham : Imprint: Springer
    Details
    ISBN: 9783031350092
    Language: English
    Pages: 1 Online-Ressource (XXXIX, 630 p. 198 illus., 182 illus. in color.)
    Series Statement: Springer Texts in Business and Economics
    Parallel Title: Erscheint auch als
    Parallel Title: Erscheint auch als
    Parallel Title: Erscheint auch als
    Keywords: Business enterprises ; Business ethics. ; Capital market. ; Financial risk management. ; SDGs ; Corporate Finance ; Sustainability ; Capital Budgeting ; Risk Analysis ; Corporate Valuation ; Net Present Value
    Abstract: Introduction -- Part 1: Why Corporate Finance for Long-term Value? -- Chapter 1. The Company Within Social and Planetary Boundaries -- Chapter 2. Integrated Value Creation -- Chapter 3. Corporate Governance -- Part 2: Discount Rates and Valuation Methods -- Chapter 4. Discount Rates and the Scarcity of Capital -- Chapter 5. Calculating Social and Environmental Value -- Chapter 6. Investment Decision Rules -- Chapter 7. Capital Budgeting -- Part 3: Valuation of Companies -- Chapter 8. Valuing Bonds -- Chapter 9. Valuing Public Equity -- Chapter 10. Valuing Private Equity -- Chapter 11. Case-study Integrated Valuation: Inditex -- Part 4: Risk, Return and Impact -- Chapter 12. Risk-return Analysis -- Chapter 13. Cost of Capital -- Chapter 14. Capital Market Adaptability, Investor Behaviour and Impact -- Part 5: Corporate Financial Policies -- Chapter 15. Capital Structure -- Chapter 16. Issues and Pay-outs -- Chapter 17. Reporting and Investor Relations -- Chapter 18. Mergers and Acquisitions -- Chapter 19. Options on All Capitals.
    Abstract: This open access textbook offers a guide to corporate finance for modern companies that want to create long-term value. Drawing on recent literature on sustainable companies, it starts by analysing the Sustainable Development Goals as a strategy for the transition to a sustainable economy. Next, it translates the general concept of sustainability into core corporate finance methods, such as net present value, company valuation, cost of capital, capital structure and M&A. Current corporate finance textbooks are primarily based on the shareholder model, designed to maximise financial value. This book instead adopts the integrated model, which argues that companies have to serve the interests of their current and future stakeholders. Accordingly, companies move from simply maximising financial value to optimising integrated value, which combines financial, social and environmental value. Applying this new paradigm of integrated value is the truly innovative feature of this textbook. Written for undergraduate and graduate students of Finance, Economics, and Business Administration, this textbook provides a fresh analysis of corporate finance. Combining theory, empirical data and examples from actual companies, it reveals the sustainability challenges for corporate investment and shows how finance can be used to steer funds to sustainable companies and projects and thus accelerate the transition to a sustainable economy. Dirk Schoenmaker and Willem Schramade have set the example: corporate finance teaching can be adapted to focus on sustainable finance without compromising on the rigour and fundamentals of the core finance curriculum. Social and environmental objectives deserve their role in business decisions, Corporate Finance for Long-Term Value brings it to the class room. - Arnoud Boot, Professor of Corporate Finance at University of Amsterdam.
    Note: Open Access
    DOI: 10.1007/978-3-031-35009-2
    URL: kostenfrei
    URL: kostenfrei
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  • 3
    Online Resource
    Online Resource
    The economics of banking (2020)
    Northampton : Edward Elgar Publishing
    Details
    ISBN: 9781789902761
    Language: English
    Pages: 1 Online-Ressource (992 Seiten)
    Series Statement: The international library of critical writings in economics series 375
    Parallel Title: Erscheint auch als The economics of banking
    DDC: 332.1
    Keywords: Bankwirtschaft ; Finanzsystem ; Bank ; Internationale Bank ; Bankgeschäft ; Bankenaufsicht ; Banks and banking ; Economics ; Electronic books ; Übersichtsarbeit ; Aufsatzsammlung
    Abstract: Recommended readings (Machine generated): 1. Michael A. Klein (1971), 'A Theory of the Banking Firm', Journal of Money, Credit and Banking, 3 (2) (Part 9), May, 205-18 -- 2. Douglas W. Diamond and Philip H. Dybvig (1983), 'Bank Runs, Deposit Insurance and Liquidity', Journal of Political Economy, 91 (3), June, 401-19 -- 3. Franklin Allen and Douglas Gale (1998), 'Optimal Financial Crises', Journal of Finance, 53 (4), August, 1245-84 -- 4. Charles W. Calomiris and Charles M. Kahn (1991), 'The Role of Demandable Debt in Structuring Optimal Banking Arrangements', American Economic Review, 81 (3), June, 497-513 -- 5. Douglas W. Diamond (1984), 'Financial Intermediation and Delegated Monitoring', Review of Economic Studies, 51 (3), July, 393-414 -- 6. Joseph E. Stiglitz and Andrew Weiss (1981), 'Credit Rationing in Markets with Imperfect Information', American Economic Review, 71 (3), June, 393-410 -- 7. Anil K. Kashyap, Raghuram Rajan and Jeremy C. Stein (2002), 'Banks as Liquidity Providers: An Explanation for the Coexistence of Lending and Deposit-Taking', Journal of Finance, 57 (1), February, 33-73 -- 8. Allen N. Berger and David B. Humphrey (1997), 'Efficiency of Financial Institutions: International Survey and Directions for Future Research', European Journal of Operational Research, 98 (2), April, 175-212 -- 9. Arnoud W. A. Boot (2017), 'The Future of Banking: From Scale & Scope Economies to Fintech', European Economy - Banks, Regulation and The Real Sector, 2, 77-95 -- 10. Wolf Wagner (2010), 'Diversification at Financial Institutions and Systemic Crises', Journal of Financial Intermediation, 19 (3), July, 373-86 -- 11. Franklin Allen and Douglas Gale (2004), 'Competition and Financial Stability', Journal of Money, Credit and Banking, 36 (3) (Part 2), June, 453-80 -- 12. Sam Langfield and Marco Pagano (2016), 'Bank bias in Europe: Effects on Systemic Risk and Growth', Economic Policy, 31 (85), January, 51-106 -- 13. Mitchell A. Petersen and Raghuram G. Rajan (1994), 'The Benefits of Lending Relationships: Evidence from Small Business Data', Journal of Finance, 49 (1), March, 3-37 -- 14. Allen N. Berger and Gregory F. Udell (2002), 'Small Business Credit Availability and Relationship Lending: The Importance of Bank Organisational Structure', Economic Journal, 112 (477), February, F32-53 -- 15. Òscar Jordà, Moritz Schularick and Alan M. Taylor (2016), 'The Great Mortgaging: Housing Finance, Crises and Business Cycles', Economic Policy, 31 (85), January, 107-52 -- 16. Arnoud W. A. Boot and Lev Ratnovski (2016), 'Banking and Trading', Review of Finance, 20 (6), October, 2219-46 -- 17. Charles Goodhart and Dirk Schoenmaker (2016), 'The Global Investment Banks are now all Becoming American: Does that Matter for Europeans?', Journal of Financial Regulation, 2 (2), August, 168-81 -- 18. Allen Goss and Gordon S. Roberts (2011), 'The Impact of Corporate Social Responsibility on the Cost of Bank Loans', Journal of Banking and Finance, 35 (7), July, 1794-1810 -- 19. Thorsten Beck, Asli Demirgüç-Kunt and Maria Soledad Martinez Peria (2008), 'Banking Services for Everyone? Barriers to Bank Access and Use around the World', World Bank Economic Review, 22 (3), November, 397-430
    Abstract: 20. Robert Grosse and Lawrence G. Goldberg (1991), 'Foreign Bank Activity in the United States: An Analysis by Country of Origin', Journal of Banking and Finance, 15 (6), December, 1093-112 -- 21. Nicola Cetorelli and Linda S. Goldberg (2012), 'Banking Globalization and Monetary Transmission', Journal of Finance, 67 (5), October, 1811-43 -- 22. Dirk Schoenmaker (2011), 'The Financial Trilemma', Economics Letters, 111, 57-9 -- 23. Stijn Claessens and Neeltje Van Horen (2014), 'Foreign Banks: Trends and Impact', Journal of Money, Credit and Banking, 46 (S1), February, 295-326 -- 24. Ralph De Haas and Iman Van Lelyveld (2014), 'Multinational Banks and the Global Financial Crisis: Weathering the Perfect Storm?', Journal of Money, Credit and Banking, 46 (S1), February, 333-64 -- 25. Eugenio Cerutti, Giovanni Dell'Ariccia and Maria Soledad Martinez Peria (2007), 'How Banks Go Abroad: Branches or Subsidiaries', Journal of Banking and Finance, 31 (6), June, 1669-92 -- 26. Eugenio Cerutti and Christina Schmieder (2014), 'Ring Fencing and Consolidated Banks' Stress Tests', Journal of Financial Stability, 11, April, 1-12 -- 27. Dirk Schoenmaker (2015), 'The New Banking Union Landscape in Europe: Consolidation Ahead?', Journal of Financial Perspectives, 3 (2), 189-201 -- 28. David Miles, Jing Yang and Gilberto Marcheggiano (2013), 'Optimal Bank Capital', Economic Journal, 123 (567), March, 1-37 -- 29. Enrico Perotti and Javier Suarez (2011), 'A Pigovian Approach to Liquidity Regulation', International Journal of Central Banking, 7 (4), 3-41 -- 30. Dirk Schoenmaker and Peter Wierts (2015), 'Regulating The Financial Cycle: An Integrated Approach with a Leverage Ratio', Economics Letters, 136, November, 70-2 -- 31. Raj Aggarwal and Kevin T. Jacques (2001), 'The Impact of FDICIA and Prompt Corrective Action on Bank Capital and Risk: Estimates Using a Simultaneous Equations Model', Journal of Banking and Finance, 25 (6), June, 1139-60 -- 32. Jean-Charles Rochet (2003), 'Why Are There so Many Banking Crises?', CESifo Economic Studies, 49 (2), 141-55 -- 33. Ben S. Bernanke (1983), 'Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression', American Economic Review, 73 (3), June, 257-76 -- 34. C. A. E. Goodhart (1987), 'Why Do Banks Need a Central Bank?' Oxford Economic Papers, 39 (1), March, 75-89 -- 35. Tobias Adrian and Hyun Song Shin (2010), 'Liquidity and Leverage', Journal of Financial Intermediation, 19 (3), July, 418-37 -- 36. Andrei Shleifer and Robert Vishny (2011), ' Fire Sales in Finance and Macroeconomics', Journal of Economic Perspectives, 25 (1), Winter, 29-48 -- 37. Luc Laeven and Fabián Valencia (2013), 'The Real Effects of Financial Sector Interventions During Crises', Journal of Money, Credit and Banking, 45 (1), February, 147-77 -- 38. Emilios Avgouleas, Charles Goodhart and Dirk Schoenmaker (2013), 'Bank Resolution Plans as a Catalyst for Global Financial Reform', Journal of Financial Stability, 9 (2), June, 210-18
    Abstract: "Banks have a special position in the financial system. Their exclusive link to the central bank puts them at the top of the financial system and enables banks to offer liquidity to the wider economy. They also provide loans and payment services to firms and households. This multifaceted nature of banking makes the economics of banking exciting. Together with an original introduction by the editor, this collection assembles the best 'banking' papers on all these dimensions and will be invaluable for all banking scholars and practitioners"--
    Note: The recommended readings are available in the print version, or may be available via the link to your library's holdings , Includes bibliographical references and index
    DOI: 10.4337/9781789902761
    URL: Deutschlandweit zugänglich
    URL: Deutschlandweit zugänglich
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