Produktivität: Mehr mit weniger durch besser Die verfügbaren Ressourcen sind begrenzt. Nur wenn wir sie...
Das IWH auf der Jahrestagung des Vereins für Socialpolitik 2019 "30 Jahre Mauerfall" - Demokratie und Marktwirtschaft
IWH-BROWN-BAG-PANEL "Ost-West-Produktivitätslücke: Ursachen und Folgen" ...
IWH-FDI-Mikrodatenbank Die IWH-FDI-Mikrodatenbank (FDI = Foreign Direct Investment)...
Schlüsselbrücken zur Gebietsstands-Transformation in Deutschland – Daten Zur...
The CompNet Competitiveness Database The Competitiveness Research Network (CompNet)...
IWH-CompNet Discussion Papers
IWH-CompNet Discussion Papers Die IWH-CompNet Discussion Papers beinhalten...
Climate Change-Related Regulatory Risks and Bank Lending
ECB Working Paper,
We identify the effect of climate change-related regulatory risks on credit real-location. Our evidence suggests that effects depend borrower's region. Following an increase in salience of regulatory risks, banks reallocate credit to US firms that could be negatively impacted by regulatory interventions. Conversely, in Europe, banks lend more to firms that could benefit from environmental regulation. The effect is moderated by banks' own loan portfolio composition. Banks with a portfolio tilted towards firms that could be negatively a affected by environmental policies increasingly support these firms. Overall, our results indicate that financial implications of regulation associated with climate change appear to be the main drivers of banks' behavior.
Banking Reform, Risk-Taking, and Accounting Quality: Evidence from Post-Soviet Transition States
Journal of International Accounting Research,
The drastic banking reform within Central and Eastern Europe following the collapse of the Soviet Union provides an ideal quasi-experimental design to examine the causal effects of institutional development on accounting quality (AQ). We find that banking reform spurs significant improvement in predictive power of earnings and reductions in earnings smoothing, earnings-inflating discretionary provisions, and avoidance of reporting losses. These effects hold under alternative model specifications and after considering concurrent institutional developments. In contrast, corporate reform shows no such effects, refuting the alternative explanation that unobserved factors affect both reform speed in general and the quality of financial reporting. We further identify four specific reformative actions that are integral to the drastic banking reform process where prudential regulation contributes the most to the observed AQ improvement. It supports the conjecture that banking reform improves AQ by reducing banks' risk-taking behaviors and, as a result, their motive behind accounting manipulation.