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Professor Farzad Saidi, Ph.D.

Professor Farzad Saidi, Ph.D.
Aktuelle Position

seit 4/26

Research Fellow der Abteilung Finanzmärkte

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

seit 1/21

Professor

Rheinische Friedrich-Wilhelms-Universität Bonn

Forschungsschwerpunkte
  • Unternehmensfinanzierung
  • Banken
  • Geldpolitik
  • Finanzintermediation

Farzad Saidi ist seit April 2026 Research Fellow am IWH. Seine Forschungsschwerpunkte liegen in den Bereichen Finanzintermediation, Banken, Unternehmensfinanzierung sowie Geldpolitik.

Farzad Saidi ist Professor an der Rheinischen Friedrich-Wilhelms-Universität Bonn.

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Professor Farzad Saidi, Ph.D.
Professor Farzad Saidi, Ph.D.
- Abteilung Finanzmärkte
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Publikationen

Zitationen
2457

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Strategic Communication among Banks

Christian Bittner Falko Fecht Melissa Pala Farzad Saidi

in: Journal of Financial Economics, im Erscheinen

Abstract

Do economic incentives govern information diffusion in markets? Using international banks’ advisory activities in corporate takeovers as their source of private information, we show in supervisory data that banks with closer ties to the target, but not the acquirer, advisor trade profitably in the target’s stock prior to the deal announcement. This trading behavior is associated with a higher premium paid by the acquirer without compromising the deal success. As the incentives of informed traders are aligned only with those of the target shareholders, which are represented by the target advisor, our evidence suggests strategic information transmission among these banks.

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Mixing QE and Interest Rate Policies at the Effective Lower Bound: Micro Evidence from the Euro Area

Christian Bittner Alexander Rodnyansky Farzad Saidi Yannick Timmer

in: Review of Finance, im Erscheinen

Abstract

We study the interaction of expansionary rate-based monetary policy and quantitative easing, despite their concurrent implementation, by exploiting heterogeneous banks and the introduction of negative monetary-policy rates in a fragmented euro area. Quantitative easing increases credit supply less, translating into weaker employment growth, when banks’ funding costs do not decrease. Using administrative data from Germany, we uncover that among banks selling their securities, central-bank reserves remain disproportionately with high-deposit banks that are constrained due to sticky customer deposits at the zero lower bound. Affected German banks lend relatively less to firms while increasing their interbank exposure in the euro area.

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Bank Concentration and Product Market Competition

Farzad Saidi Daniel Streitz

in: Review of Financial Studies, Vol. 34 (10), 2021

Abstract

This paper documents a link between bank concentration and markups in nonfinancial sectors. We exploit concentration-increasing bank mergers and variation in banks’ market shares across industries and show that higher credit concentration is associated with higher markups and that high-market-share lenders charge lower loan rates. We argue that this is due to the greater incidence of competing firms sharing common lenders that induce less aggressive product market behavior among their borrowers, thereby internalizing potential adverse effects of higher rates. Consistent with our conjecture, the effect is stronger in industries with competition in strategic substitutes where negative product market externalities are greatest.

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