1,721,162 research outputs found
How does credit information sharing shape the cyclicality of bank liquidity creation?
No full textWe investigate the effect of credit information sharing in the banking sector on the fluctuations of bank liquidity creation over the business cycle. Using the Berger and Bouwman comprehensive measure of bank liquidity creation and data representing 354 banks from 40 developing countries between 2012 and 2020, we find that on‐ and off‐balance sheet liquidity creation is procyclical. We also find that credit information sharing significantly reduces the procyclicality of on‐ and off‐balance sheet liquidity creation by increasing banks’ access to interbank funding and enhancing their ability to estimate customer default probabilities more accurately. Our findings suggest that credit information sharing can act as a stabilizing mechanism for bank liquidity creation in developing countries
Financing infrastructure with Public–Private Partnerships
No full textThe paper presents the different alternatives available to finance infrastructure via PPPs in emerging market economie
Bank opacity and risk-taking: evidence from analysts’ forecasts
Full text linkWe depart from existing literature by invoking analysts’ forecasts to measure banking system opacity and then investigate the impact of such opacity on bank risk-taking, using a large panel of US bank holding companies, 1995-2013. We uncover three new results. Firstly, we find that opacity increases insolvency risks among banks. Secondly, we establish that the relationship between opacity and bank risk-taking is accentuated by the degree of banking market competition. Thirdly, we show that the bank business model moderates the risk-taking incentives of opaque banks, albeit only marginally. Overall, these findings suggest that the analysts’ forecast measure of bank opacity is useful for understanding risk-taking by publicly-traded banks, with important implications for bank stability
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Fellowship amongst peers: A single country analysis of the effects of bank governance and competitiveness on interbank market microstructure
Full text linkThe aim of this study is to examine the market microstructure and evolution of overnight lending rates in the interbank market in a single country. Interest in understanding the interbank market surged in the aftermath of the 2008 global financial crisis, consequently giving rise to several academic studies on the interbank market microstructure and price discovery process. This thesis extends the existing literature by introducing a discussion on the role of ownership, governance, and competitiveness in influencing the market microstructure and price discovery process of the interbank lending market. The study focuses primarily on the overnight segment of the market and uses generalized least squares regression on a unique panel dataset constructed from proprietary transaction-level and bank balance sheet data obtained from the Bank of Uganda (the central bank). The results of the study suggest the presence of a home field advantage in the interbank market, with domestic banks pricing loans more cheaply than foreign banks in the Ugandan interbank market. The results also reveal that competitiveness makes borrowers more attractive to relationship lenders. In addition, the results provide evidence of agency problems in interbank markets, as banks with powerful CEOs are less preferred lending counterparties, thus reducing the information benefits to the bank that are obtained from relationship lending. Also, it was observed that foreign exchange devaluation has a positive effect on relationship formation amongst banks in the interbank market. The empirical results also show that bank health and asset quality have varying effects on relationship formation and interbank loan pricing. The overall results provide key insights for policy makers and practitioners about the factors that influence the market microstructure and price discovery process in the interbank lending market
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
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