---
_id: '36063'
abstract:
- lang: eng
  text: "This paper empirically investigates determinants of the outstanding net notional
    amount\r\nof credit default swaps (CDSs) contracts written on banks. We extend
    and complement the\r\nprevious literature dealing with CDS trading by analyzing
    a comprehensive set of CDS tradingspecific,\r\nbank-fundamental, macroeconomic
    and bank-institutional determinants. We find that\r\nrisk hedging clearly dominates
    an investor’s speculation and arbitrage motive, while the latter,\r\nhowever,
    exhibits the strongest impact on the outstanding net notional amount of bank CDSs.\r\nFurthermore,
    being classified as a G-SIB, being a constituent of the main CDS index and the\r\nequity
    trading volume may significantly explain changes in the outstanding CDS net notional
    on\r\nbanks. The analysis at hand provides important implications for both academics
    and practitioners,\r\nsince understanding the trading motives of bank CDS investors
    provides a deeper insight into the\r\nopaque CDS market. "
author:
- first_name: Benjamin
  full_name: Hippert, Benjamin
  last_name: Hippert
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
- first_name: Sascha Tobias
  full_name: Wengerek, Sascha Tobias
  last_name: Wengerek
citation:
  ama: Hippert B, Uhde A, Wengerek ST. <i>Determinants of CDS Trading on Major Banks</i>.
  apa: Hippert, B., Uhde, A., &#38; Wengerek, S. T. (n.d.). <i>Determinants of CDS
    Trading on Major Banks</i>.
  bibtex: '@book{Hippert_Uhde_Wengerek, title={Determinants of CDS Trading on Major
    Banks}, author={Hippert, Benjamin and Uhde, André and Wengerek, Sascha Tobias}
    }'
  chicago: Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. <i>Determinants
    of CDS Trading on Major Banks</i>, n.d.
  ieee: B. Hippert, A. Uhde, and S. T. Wengerek, <i>Determinants of CDS Trading on
    Major Banks</i>. .
  mla: Hippert, Benjamin, et al. <i>Determinants of CDS Trading on Major Banks</i>.
  short: B. Hippert, A. Uhde, S.T. Wengerek, Determinants of CDS Trading on Major
    Banks, n.d.
date_created: 2023-01-11T11:34:17Z
date_updated: 2023-11-17T10:23:44Z
department:
- _id: '186'
- _id: '188'
jel:
- G10
- G12
- G21
keyword:
- banking
- outstanding CDS net notional
- determinants of bank CDS trading
language:
- iso: eng
publication_status: unpublished
status: public
title: Determinants of CDS Trading on Major Banks
type: working_paper
user_id: '36049'
year: '2021'
...
---
_id: '29314'
abstract:
- lang: eng
  text: Employing credit default swap (CDS) data for a sample of 52 major banks across
    18 countries from 2008 to 2016, this paper investigates determinants of the outstanding
    net notional amount of CDS which are written on banks. We extend the current literature
    dealing with CDS trading by analyzing further CDS trading-specific, fundamental
    bank-specific as well as macroeconomic and institutional determinants with a focus
    on bank CDS trading. We find that, next to well-discussed determinants for corporate
    firms in the literature, especially a bank's tail risk, capital adequacy, loan
    portfolio and business model affect a bank's outstanding CDS net notional. This
    finding indicates that investors in the bank CDS market partly have a recourse
    to a fundamental analysis for their investment decision. Our study fills an important
    gap since empirical studies have solely focused on sovereign and corporate CDS
    yet. In addition, the analysis at hand provides important implications for both
    academics and practitioners since understanding the trading motives of bank CDS
    investors gives deeper insights into the still opaque CDS market.
author:
- first_name: Benjamin
  full_name: Hippert, Benjamin
  last_name: Hippert
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
- first_name: Sascha Tobias
  full_name: Wengerek, Sascha Tobias
  last_name: Wengerek
citation:
  ama: Hippert B, Uhde A, Wengerek ST. <i>Determinants of CDS Trading on Major Banks</i>.;
    2019.
  apa: Hippert, B., Uhde, A., &#38; Wengerek, S. T. (2019). <i>Determinants of CDS
    trading on major banks</i>.
  bibtex: '@book{Hippert_Uhde_Wengerek_2019, title={Determinants of CDS trading on
    major banks}, author={Hippert, Benjamin and Uhde, André and Wengerek, Sascha Tobias},
    year={2019} }'
  chicago: Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. <i>Determinants
    of CDS Trading on Major Banks</i>, 2019.
  ieee: B. Hippert, A. Uhde, and S. T. Wengerek, <i>Determinants of CDS trading on
    major banks</i>. 2019.
  mla: Hippert, Benjamin, et al. <i>Determinants of CDS Trading on Major Banks</i>.
    2019.
  short: B. Hippert, A. Uhde, S.T. Wengerek, Determinants of CDS Trading on Major
    Banks, 2019.
date_created: 2022-01-13T11:12:03Z
date_updated: 2024-04-17T13:35:25Z
department:
- _id: '186'
- _id: '19'
jel:
- G10
- G12
- G21
keyword:
- banking
- outstanding CDS net notional
- determinants of bank CDS trading
language:
- iso: eng
status: public
title: Determinants of CDS trading on major banks
type: working_paper
user_id: '21810'
year: '2019'
...
---
_id: '13145'
abstract:
- lang: eng
  text: 'Employing credit default swap (CDS) data for a sample of 52 major banks across
    18 countries from 2008 to 2016, this paper investigates determinants of the outstanding
    net notional amount of CDS which are written on banks. We extend the current literature
    dealing with CDS trading by analyzing further CDS trading-specific, fundamental
    bank-specific as well as macroeconomic and institutional determinants with a focus
    on bank CDS trading. We find that, next to well-discussed determinants for corporate
    firms in the literature, especially a bank''s tail risk, capital adequacy, loan
    portfolio and business model affect a bank''s outstanding CDS net notional. This
    finding indicates that investors in the bank CDS market partly have a recourse
    to a fundamental analysis for their investment decision. Our study fills an important
    gap since empirical studies have solely focused on sovereign and corporate CDS
    yet. In addition, the analysis at hand provides important implications for both
    academics and practitioners since understanding the trading motives of bank CDS
    investors gives deeper insights into the still opaque CDS market. '
author:
- first_name: Benjamin
  full_name: Hippert, Benjamin
  id: '48476'
  last_name: Hippert
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
- first_name: Sascha Tobias
  full_name: Wengerek, Sascha Tobias
  id: '48837'
  last_name: Wengerek
  orcid: 0000-0002-7820-3903
citation:
  ama: Hippert B, Uhde A, Wengerek ST. <i>Determinants of CDS Trading on Major Banks</i>.;
    2019.
  apa: Hippert, B., Uhde, A., &#38; Wengerek, S. T. (2019). <i>Determinants of CDS
    trading on major banks</i>.
  bibtex: '@book{Hippert_Uhde_Wengerek_2019, place={Working Papers Dissertations from
    Paderborn University, Faculty of Business Administration and Economics}, series={No
    51}, title={Determinants of CDS trading on major banks}, author={Hippert, Benjamin
    and Uhde, André and Wengerek, Sascha Tobias}, year={2019}, collection={No 51}
    }'
  chicago: Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. <i>Determinants
    of CDS Trading on Major Banks</i>. No 51. Working Papers Dissertations from Paderborn
    University, Faculty of Business Administration and Economics, 2019.
  ieee: B. Hippert, A. Uhde, and S. T. Wengerek, <i>Determinants of CDS trading on
    major banks</i>. Working Papers Dissertations from Paderborn University, Faculty
    of Business Administration and Economics, 2019.
  mla: Hippert, Benjamin, et al. <i>Determinants of CDS Trading on Major Banks</i>.
    2019.
  short: B. Hippert, A. Uhde, S.T. Wengerek, Determinants of CDS Trading on Major
    Banks, Working Papers Dissertations from Paderborn University, Faculty of Business
    Administration and Economics, 2019.
date_created: 2019-09-06T07:46:50Z
date_updated: 2024-04-17T13:35:52Z
department:
- _id: '186'
- _id: '188'
jel:
- G10
- G12
- G21
keyword:
- banking
- outstanding CDS net notional
- determinants of bank CDS trading
language:
- iso: eng
place: Working Papers Dissertations from Paderborn University, Faculty of Business
  Administration and Economics
series_title: No 51
status: public
title: Determinants of CDS trading on major banks
type: working_paper
user_id: '36049'
year: '2019'
...
---
_id: '5170'
abstract:
- lang: eng
  text: "Employing credit default swap (CDS) data for a sample of 52 major banks across
    18\r\ncountries from 2008 to 2016, this paper investigates determinants of the
    outstanding\r\nnet notional amount of CDS which are written on banks. We extend
    the current\r\nliterature dealing with CDS trading by analyzing further CDS trading-specifi\fc,\r\nfundamental
    bank-speci\ffic as well as macroeconomic and institutional determinants\r\nwith
    a focus on bank CDS trading. We fi\fnd that, next to well-discussed determinants\r\nfor
    corporate \ffirms in the literature, especially a bank's tail risk, capital adequacy,\r\nloan
    portfolio and business model affect a bank's outstanding CDS net notional.\r\nThis
    \ffinding indicates that investors in the bank CDS market partly have a recourse\r\nto
    a fundamental analysis for their investment decision. Our study \ffills an important\r\ngap
    since empirical studies have solely focused on sovereign and corporate CDS yet.\r\nIn
    addition, the analysis at hand provides important implications for both academics\r\nand
    practitioners since understanding the trading motives of bank CDS investors\r\ngives
    deeper insights into the still opaque CDS market."
author:
- first_name: Benjamin
  full_name: Hippert, Benjamin
  id: '48476'
  last_name: Hippert
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
citation:
  ama: Hippert B, Uhde A. <i>Determinants of CDS Trading on Major Banks</i>.
  apa: Hippert, B., &#38; Uhde, A. (n.d.). <i>Determinants of CDS trading on major
    banks</i>.
  bibtex: '@book{Hippert_Uhde, title={Determinants of CDS trading on major banks},
    author={Hippert, Benjamin and Uhde, André} }'
  chicago: Hippert, Benjamin, and André Uhde. <i>Determinants of CDS Trading on Major
    Banks</i>, n.d.
  ieee: B. Hippert and A. Uhde, <i>Determinants of CDS trading on major banks</i>.
    .
  mla: Hippert, Benjamin, and André Uhde. <i>Determinants of CDS Trading on Major
    Banks</i>.
  short: B. Hippert, A. Uhde, Determinants of CDS Trading on Major Banks, n.d.
date_created: 2018-10-31T10:05:47Z
date_updated: 2024-04-17T13:35:47Z
department:
- _id: '186'
- _id: '188'
jel:
- G10
- G12
- G21
keyword:
- banking
- outstanding CDS net notional
- determinants of bank CDS trading
language:
- iso: eng
publication_status: submitted
status: public
title: Determinants of CDS trading on major banks
type: working_paper
user_id: '36049'
year: '2019'
...
---
_id: '28015'
abstract:
- lang: eng
  text: "Background\r\nUnderstanding changes in dietary intake during puberty could
    aid the mapping of dietary interventions for primary prevention. The present study
    describes dietary changes from childhood to adolescence, and their associations
    with parental education, family income, child education, body mass index (BMI),
    pubertal onset and screen-time sedentary behaviour.\r\nMethods\r\nDietary data
    (n = 1232) were obtained from food frequency questionnaires at the 10- and 15-year
    follow-ups of the GINIplus birth cohort study. Intakes of 17 food groups, macronutrients
    and antioxidant vitamins, were described by a) paired Wilcoxon rank sum tests,
    comparing average intakes at each time-point, and b) Cohen’s kappa “tracking”
    coefficients, measuring stability of intakes (maintenance of relative tertile
    positions across time). Further, associations of changes (tertile position increase
    or decrease vs. tracking) with parental education, family income, child education,
    pubertal onset, BMI, and screen-time, were assessed by logistic regression and
    multinomial logistic regression models stratified by baseline intake tertile.\r\nResults\r\nBoth
    sexes increased average intakes of water and decreased starchy vegetables, margarine
    and dairy. Females decreased meat and retinol intakes and increased vegetables,
    grains, oils and tea. Males decreased fruit and carbohydrates and increased average
    intakes of meat, caloric drinks, water, protein, fat, polyunsaturated fatty acids
    (PUFAs), vitamin C and alpha-tocopherol. Both sexes presented mainly “fair” tracking
    levels [κw = 0.21–0.40]. Females with high (vs. low) parental education were more
    likely to increase their nut intake [OR = 3.8; 95 % CI = (1.7;8.8)], and less
    likely to decrease vitamin C intakes [0.2 (0.1;0.5)], while males were less likely
    to increase egg consumption [0.2 (0.1;0.5)] and n3 PUFAs [0.2 (0.1;0.5)]. Females
    with a higher (vs. low) family income were more likely to maintain medium wholegrain
    intakes [0.2 (0.1;0.7) for decrease vs. tracking, and 0.1 (0.0;0.5) for increase
    vs. tracking], and were less likely to decrease vitamin C intakes [0.2 (0.1;0.6)].
    Males with high education were less likely to increase sugar-sweetened foods [0.1
    (0.1;0.4)]. Finally, BMI in females was negatively associated with decreasing
    protein intakes [0.7 (0.6;0.9)]. In males BMI was positively associated with increasing
    margarine [1.4 (1.1;1.6)] and vitamin C intakes [1.4 (1.1;1.6)], and negatively
    associated with increasing n3 PUFA.\r\nConclusions\r\nAverage dietary intakes
    changed significantly, despite fair tracking levels, suggesting the presence of
    trends in dietary behaviour during puberty. Family income and parental education
    predominantly influenced intake changes. Our results support the rationale for
    dietary interventions targeting children, and suggest that sex-specific subpopulations,
    e.g. low socio-economic status, should be considered for added impact."
article_type: original
author:
- first_name: 'Carla '
  full_name: 'Harris, Carla '
  last_name: Harris
- first_name: Claudia
  full_name: Flexeder, Claudia
  last_name: Flexeder
- first_name: Elisabeth
  full_name: Thiering, Elisabeth
  last_name: Thiering
- first_name: Anette
  full_name: Buyken, Anette
  id: '65985'
  last_name: Buyken
- first_name: Dietrich
  full_name: Berdel, Dietrich
  last_name: Berdel
- first_name: Sibylle
  full_name: Koletzko, Sibylle
  last_name: Koletzko
- first_name: Carl-Peter
  full_name: Bauer, Carl-Peter
  last_name: Bauer
- first_name: Irene
  full_name: Brüske, Irene
  last_name: Brüske
- first_name: Berthold
  full_name: Koletzko, Berthold
  last_name: Koletzko
- first_name: Marie
  full_name: Standl, Marie
  last_name: Standl
citation:
  ama: 'Harris C, Flexeder C, Thiering E, et al. Changes in dietary intake during
    puberty and their determinants: results from the GINIplus birth cohort study.
    <i>BMC Public Health</i>. 2015;15:841.'
  apa: 'Harris, C., Flexeder, C., Thiering, E., Buyken, A., Berdel, D., Koletzko,
    S., Bauer, C.-P., Brüske, I., Koletzko, B., &#38; Standl, M. (2015). Changes in
    dietary intake during puberty and their determinants: results from the GINIplus
    birth cohort study. <i>BMC Public Health</i>, <i>15</i>, 841.'
  bibtex: '@article{Harris_Flexeder_Thiering_Buyken_Berdel_Koletzko_Bauer_Brüske_Koletzko_Standl_2015,
    title={Changes in dietary intake during puberty and their determinants: results
    from the GINIplus birth cohort study}, volume={15}, journal={BMC Public Health},
    author={Harris, Carla  and Flexeder, Claudia and Thiering, Elisabeth and Buyken,
    Anette and Berdel, Dietrich and Koletzko, Sibylle and Bauer, Carl-Peter and Brüske,
    Irene and Koletzko, Berthold and Standl, Marie}, year={2015}, pages={841} }'
  chicago: 'Harris, Carla , Claudia Flexeder, Elisabeth Thiering, Anette Buyken, Dietrich
    Berdel, Sibylle Koletzko, Carl-Peter Bauer, Irene Brüske, Berthold Koletzko, and
    Marie Standl. “Changes in Dietary Intake during Puberty and Their Determinants:
    Results from the GINIplus Birth Cohort Study.” <i>BMC Public Health</i> 15 (2015):
    841.'
  ieee: 'C. Harris <i>et al.</i>, “Changes in dietary intake during puberty and their
    determinants: results from the GINIplus birth cohort study,” <i>BMC Public Health</i>,
    vol. 15, p. 841, 2015.'
  mla: 'Harris, Carla, et al. “Changes in Dietary Intake during Puberty and Their
    Determinants: Results from the GINIplus Birth Cohort Study.” <i>BMC Public Health</i>,
    vol. 15, 2015, p. 841.'
  short: C. Harris, C. Flexeder, E. Thiering, A. Buyken, D. Berdel, S. Koletzko, C.-P.
    Bauer, I. Brüske, B. Koletzko, M. Standl, BMC Public Health 15 (2015) 841.
date_created: 2021-11-27T13:26:27Z
date_updated: 2022-01-06T06:57:50Z
department:
- _id: '35'
- _id: '22'
- _id: '571'
intvolume: '        15'
keyword:
- Puberty
- Dietary intake
- Dietary changes
- Tracking
- Determinants
- Epidemiology
language:
- iso: eng
page: '841'
publication: BMC Public Health
publication_status: published
status: public
title: 'Changes in dietary intake during puberty and their determinants: results from
  the GINIplus birth cohort study'
type: journal_article
user_id: '49428'
volume: 15
year: '2015'
...
---
_id: '4396'
abstract:
- lang: eng
  text: Analyzing 75 securitizing and non-securitizing stock-listed banks in the EU-13
    plus Switzerland over the period from 1997 to 2010, this paper provides empirical
    evidence that loan securitization in Europe is a composite decision based on bank-specific
    as well as market- and country-specific determinants. In addition, we find that
    these determinants remarkably change when separately investigating securitization
    transactions during the pre-crisis and crisis period. Moreover, results from several
    subsample regressions reveal that determinants of loan securitizations in Europe
    depend on the transaction type, the underlying asset portfolio and the regulatory
    and institutional environment under which banks operate.
author:
- first_name: Christian
  full_name: Farruggio, Christian
  last_name: Farruggio
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
citation:
  ama: Farruggio C, Uhde A. Determinants of loan securitization in European banking.
    <i>Journal of Banking and Finance</i>. 2015;56:12-27. doi:<a href="https://doi.org/10.1016/j.jbankfin.2015.01.015
    ">10.1016/j.jbankfin.2015.01.015 </a>
  apa: Farruggio, C., &#38; Uhde, A. (2015). Determinants of loan securitization in
    European banking. <i>Journal of Banking and Finance</i>, <i>56</i>, 12–27. <a
    href="https://doi.org/10.1016/j.jbankfin.2015.01.015 ">https://doi.org/10.1016/j.jbankfin.2015.01.015
    </a>
  bibtex: '@article{Farruggio_Uhde_2015, title={Determinants of loan securitization
    in European banking}, volume={56}, DOI={<a href="https://doi.org/10.1016/j.jbankfin.2015.01.015
    ">10.1016/j.jbankfin.2015.01.015 </a>}, journal={Journal of Banking and Finance},
    author={Farruggio, Christian and Uhde, André}, year={2015}, pages={12–27} }'
  chicago: 'Farruggio, Christian, and André Uhde. “Determinants of Loan Securitization
    in European Banking.” <i>Journal of Banking and Finance</i> 56 (2015): 12–27.
    <a href="https://doi.org/10.1016/j.jbankfin.2015.01.015 ">https://doi.org/10.1016/j.jbankfin.2015.01.015
    </a>.'
  ieee: 'C. Farruggio and A. Uhde, “Determinants of loan securitization in European
    banking,” <i>Journal of Banking and Finance</i>, vol. 56, pp. 12–27, 2015, doi:
    <a href="https://doi.org/10.1016/j.jbankfin.2015.01.015 ">10.1016/j.jbankfin.2015.01.015
    </a>.'
  mla: Farruggio, Christian, and André Uhde. “Determinants of Loan Securitization
    in European Banking.” <i>Journal of Banking and Finance</i>, vol. 56, 2015, pp.
    12–27, doi:<a href="https://doi.org/10.1016/j.jbankfin.2015.01.015 ">10.1016/j.jbankfin.2015.01.015
    </a>.
  short: C. Farruggio, A. Uhde, Journal of Banking and Finance 56 (2015) 12–27.
date_created: 2018-09-14T11:26:52Z
date_updated: 2023-01-10T09:37:18Z
department:
- _id: '186'
- _id: '188'
doi: '10.1016/j.jbankfin.2015.01.015 '
intvolume: '        56'
jel:
- G21
- G28
keyword:
- Securitization
- Determinants
- European banking
language:
- iso: eng
page: 12-27
publication: Journal of Banking and Finance
publication_status: published
status: public
title: Determinants of loan securitization in European banking
type: journal_article
user_id: '21810'
volume: 56
year: '2015'
...