Research Data Centre
Research Data Centre (IWH-RDC) Direct link to our Data Offer The IWH Research Data Centre offers external researchers access to microdata and micro-aggregated data sets that…
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CompNet Database
The CompNet Competitiveness Database The Competitiveness Research Network (CompNet) is a forum for high level research and policy analysis in the areas of competitiveness and…
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Internationalisation
Internationalisation The Leibniz Institute for Economic Research Halle (IWH) is responsible for economic research and economic policy advice on a scientific basis. The institute…
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Lecturers
Lecturers at CGDE Institutions Jordan Adamson Assistant Professor at Institute for Empirical Economic Research, Leipzig University. Website Course: Econometrics (winter term…
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The Effect of Bank Organizational Risk-management on the Price of Non-deposit Debt
Iftekhar Hasan, Emma Peng, Maya Waisman, Meng Yan
Journal of Financial Services Research,
April
2024
Abstract
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 hazard among bank creditors, we find that bondholders put less emphasis on risk management in large institutions for which bailouts are expected ex-ante. BHCs that maintained strong risk management before the financial crisis had lower debt costs during and after the crisis, compared to other banks. Overall, quality risk management can curtail risk exposures at BHCs and result in lower debt costs.
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12.03.2024 • 8/2024
Risk in the banking sector: four out of ten top supervisors come from the financial industry
Europe's banks realise excess returns on the stock market when their alumni join the boards of national supervisory authorities. A study by the Halle Institute for Economic Research (IWH) shows that this happens more frequently than previously recognised. The findings indicate a risk to financial stability and call for a more merit-based, transparent appointment of senior regulators.
Michael Koetter
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Green Transition
Green Transition Research and Policy Advice for Structural Change in the German Economy Dossier, 18.06.2024 Green Transition The green transition is a key topic of our time. In a…
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Contact
Contact Get a quick overview of how to reach us and whom to contact: Postal Address: Halle Institute for Economic Research (IWH) - Member of the Leibniz Association P.O. Box 11 03…
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OVERHANG: Debt overhang and green investments
OVERHANG: Debt overhang and green investments - the role of banks in climate-friendly management of emission-intensive fixed assets Subproject 1: Policy Changes, Lending and…
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PhD Graduates Financial Markets
PhD Graduates of the Department of Financial Markets Eleonora Sfrappini: "Four Essays on Banking, Climate Risks and Financial Regulation" (2024) Willam McShane: "The Competitive…
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