Juniorprofessor Dr. Felix Noth

Juniorprofessor Dr. Felix Noth
Aktuelle Position

seit 10/16

Stellvertretender Leiter der Abteilung Finanzmärkte

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

seit 3/14

Leiter der Forschungsgruppe Innovationen im finanz- und realwirtschaftlichen Sektor

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

seit 3/14

Juniorprofessor für Banken und Finanzsysteme

Otto-von-Guericke-Universität, Magdeburg

Forschungsschwerpunkte

  • Bankenmärkte und realwirtschaftliches Wachstum
  • Bankenregulierung und Risikoanreize für Banken
  • Naturkatastrophen und Auswirkungen auf Banken

Felix Noth ist seit März 2014 Mitglied der Abteilung Finanzmärkte am IWH und Juniorprofessor für Banken und Finanzsysteme an der Otto-von-Guericke-Universität Magdeburg. Er forscht zu den Themen empirische Bank- und Finanzwirtschaft.

Felix Noth studierte an der Ludwig-Maximilians-Universität München und promovierte an der Goethe-Universität Frankfurt. Bevor er zum IWH kam, war er wissenschaftlicher Assistent an der Goethe-Universität Frankfurt am Main.

Ihr Kontakt

Juniorprofessor Dr. Felix Noth
Juniorprofessor Dr. Felix Noth
Mitglied - Abteilung Finanzmärkte
Nachricht senden +49 345 7753-702

Publikationen

How Do Banks React to Catastrophic Events? Evidence from Hurricane Katrina

Claudia Lambert Felix Noth U. Schuewer

in: Review of Finance, im Erscheinen

Abstract

This paper explores how banks react to an exogenous shock caused by Hurricane Katrina in 2005, and how the structure of the banking system affects economic development following the shock. Independent banks based in the disaster areas increase their risk-based capital ratios after the hurricane, while those that are part of a bank holding company on average do not. The effect on independent banks mainly comes from the subgroup of highly capitalized banks. These independent and highly capitalized banks increase their holdings in government securities and reduce their total loan exposures to non-financial firms, while also increasing new lending to these firms. With regard to local economic development, affected counties with a relatively large share of independent banks and relatively high average bank capital ratios show higher economic growth than other affected counties following the catastrophic event.

Publikation lesen

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Badly Hurt? Natural Disasters and Direct Firm Effects

Felix Noth Oliver Rehbein

in: Finance Research Letters, im Erscheinen

Abstract

We investigate firm outcomes after a major flood in Germany in 2013. We robustly find that firms located in the disaster regions have significantly higher turnover, lower leverage, and higher cash in the period after 2013. We provide evidence that the effects stem from firms that already experienced a similar major disaster in 2002. Overall, our results document a positive net effect on firm performance in the direct aftermath of a natural disaster.

Publikation lesen

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Market Power and Risk: Evidence from the U.S. Mortgage Market

Carola Müller Felix Noth

in: Economics Letters, 2018

Abstract

We use mortgage loan application data of the Home Mortgage Disclosure Act (HMDA) to shed light on the role of banks’ market power on their presumably insufficient risk screening activities in the U.S. mortgage market in the pre-crisis era. We find that banks with higher market power protect their charter value. The effect is stronger for banks that have more information about local markets.

Publikation lesen

Arbeitspapiere

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Predicting Earnings and Cash Flows: The Information Content of Losses and Tax Loss Carryforwards

Sandra Dreher Sebastian Eichfelder Felix Noth

in: IWH-Diskussionspapiere, Nr. 30, 2017

Abstract

We analyse the relevance of losses, accounting information on tax loss carryforwards, and deferred taxes for the prediction of earnings and cash flows up to four years ahead. We use a unique hand-collected panel of German listed firms encompassing detailed information on tax loss carryforwards and deferred taxes from the tax footnote. Our out-of-sample predictions show that considering accounting information on tax loss carryforwards and deferred taxes does not enhance the accuracy of performance forecasts and can even worsen performance predictions. We find that common forecasting approaches that treat positive and negative performances equally or that use a dummy variable for negative performance can lead to biased performance forecasts, and we provide a simple empirical specification to account for that issue.

Publikation lesen

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Badly Hurt? Natural Disasters and Direct Firm Effects

Felix Noth Oliver Rehbein

in: IWH-Diskussionspapiere, Nr. 25, 2017

Abstract

We investigate firm outcomes after a major flood in Germany in 2013. We robustly find that firms located in the disaster regions have significantly higher turnover, lower leverage, and higher cash in the period after 2013. We provide evidence that the effects stem from firms that already experienced a similar major disaster in 2002. Overall, our results document a positive net effect on firm performance in the direct aftermath of a natural disaster.

Publikation lesen

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Banking Globalization, Local Lending, and Labor Market Effects: Micro-level Evidence from Brazil

Felix Noth Matias Ossandon Busch

in: IWH-Diskussionspapiere, Nr. 7, 2017

Abstract

This paper estimates the effect of a foreign funding shock to banks in Brazil after the collapse of Lehman Brothers in September 2008. Our robust results show that bank-specific shocks to Brazilian parent banks negatively affected lending by their individual branches and trigger real economic consequences in Brazilian municipalities: More affected regions face restrictions in aggregated credit and show weaker labor market performance in the aftermath which documents the transmission mechanism of the global financial crisis to local labor markets in emerging countries. The results represent relevant information for regulators concerned with the real effects of cross-border liquidity shocks.

Publikation lesen
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