Juniorprofessorin Dr. Melina Ludolph

Juniorprofessorin Dr. Melina Ludolph
Aktuelle Position

seit 1/23

Leiterin der Forschungsgruppe Banken, Regulierung und Anreizstrukturen

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

seit 9/21

Wissenschaftliche Mitarbeiterin in der Abteilung Gesetzgebung, Regulierung und Faktormärkte

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

seit 9/21


Otto-von-Guericke-Universität Magdeburg


  • Bankenregulierung
  • Finanzstabilität
  • Finanzkrisen
  • angewandte Ökonometrie

Melina Ludolph ist seit September 2021 wissenschaftliche Mitarbeiterin am IWH und Juniorprofessorin an der Otto-von-Guericke-Universität Magdeburg. Sie forscht zu den Themen Bankenregulierung, Finanzstabilität, Finanzkrisen sowie angewandte Ökonometrie.

Melina Ludolph studierte und promovierte an der Humboldt-Universität zu Berlin.

Ihr Kontakt

Juniorprofessorin Dr. Melina Ludolph
Juniorprofessorin Dr. Melina Ludolph
Mitglied - Abteilung Gesetzgebung, Regulierung und Faktormärkte
Nachricht senden +49 345 7753-773



The Nexus between Loan Portfolio Size and Volatility: Does Bank Capital Regulation Matter?

Franziska Bremus Melina Ludolph

in: Journal of Banking and Finance, June 2021


This paper analyzes the effects of bank capital regulation on the link between bank size and volatility. Using bank-level data for 27 advanced economies over the 2000–2014 period, we estimate a power law that relates the volume of a bank’s loan portfolio to the volatility of loan growth. Our analysis reveals, first, that more stringent capital regulation weakens the size-volatility nexus. Hence, in countries with more stringent capital regulation, large banks show, ceteris paribus, lower loan portfolio volatility. Second, the effect of tighter capital requirements on the size-volatility nexus becomes stronger for the upper tail of the bank size distribution. This is in line with capitalization decreasing with bank size, such that larger banks tend to be more affected by increasing capital requirements. Third, in countries with higher sectoral capital buffers, the size-volatility nexus is weaker.

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The Adverse Effect of Contingent Convertible Bonds on Bank Stability

Melina Ludolph

in: IWH Discussion Papers, Nr. 1, 2022


This paper examines the impact of issuing contingent convertible (CoCo) bonds on bank risk. I apply a matching-based difference-in-differences approach to banklevel data for 246 publicly traded European banks and 61 CoCo issues from 2008−2018. My estimation results reveal that issuing CoCo bonds that meet the criteria for additional tier 1 (AT1) capital results in significantly higher z-scores one to three years after the issuance. Rather than having a net negative impact, issuing CoCos seems to impede a positive time trend towards greater bank stability. This study adds to the empirical literature on the risk-effect of contingent convertibles by identifying the causal effect of AT1 CoCo bonds on reported risk changes over a three-year post-treatment horizon based on a comprehensive sample of European banks. The results confirm theoretical predictions that currently outstanding CoCo bonds create incentives for excessive risk-taking.

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