Download Bank Performance, Risk and Firm Financing by P. Molyneux PDF
By P. Molyneux
This article contains a variety of papers that provide state-of-the-art insights into bank functionality, possibility and company financing submit obstacle that have been provided on the ecu organization of collage academics of Banking and Finance convention (otherwise often called the Wolpertinger convention) held at Bangor collage, Wales, 2010.
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Extra info for Bank Performance, Risk and Firm Financing
The maximum tensions in the financial markets that occurred after the failure of Lehman Brothers demonstrate the importance of the big banks in generating financial instability. 3 billion Euros) growth in size diminishes the probability of failure. One of the conclusions to be drawn from the results obtained is that the possible risk associated with big banks and the implications deriving therefrom (such as the thesis that they are too big to allow them to fail) do not come from their higher probability of failure, since financial instability diminishes beyond a very high asset value.
More specifically, the list of countries analysed is as follows: Austria, Belgium, Canada, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Japan, Latvia, Lithuania, Luxembourg, Holland, Norway, Poland, Slovakia, Slovenia, Spain, Sweden, Switzerland, the United Kingdom and the United States. Some other countries have been removed from the sample for one or more of the reasons commented on in the previous paragraph. 1 contains the main descriptive statistics of the variables used: mean, standard deviation, coefficient of variation and 25th, 50th and 75th percentiles of the distribution.
From the first order conditions of the problem of profit maximization we obtain an expression of the Lerner index, among whose determinants are the following: the probability of failure, the bank size, the number of competitors, the elasticity of demand for loans of type k compared with the interest rate differentials of the competitors, the elasticity of total demand for loans in relation to the average interest rate, and the level of interest rates. The empirical approach of these explanatory variables of market power is as follows: a) The number of competing banks is usually proxied by the degree of market concentration, in our case the Herfindahl–Hirschmann index (HHI), defined as the sum of the squares of the market shares.