---
_id: '34802'
abstract:
- lang: eng
  text: "Purpose\r\nAcademic research has intensively analyzed the relationship between
    market concentration or market power and banking stability but provides ambiguous
    results, which are summarized under the concentration-stability/fragility view.
    We provide empirical evidence that the mixed results are due to the difficulty
    of identifying reliable variables to measure concentration and market power.\r\n\r\nDesign/methodology/approach\r\nUsing
    data from 3,943 banks operating in the European Union (EU)-15 between 2013 and
    2020, we employ linear regression models on panel data. Banking market concentration
    is measured by the Herfindahl–Hirschman Index (HHI), and market power is estimated
    by the product-specific Lerner Indices for the loan and deposit market, respectively.\r\n\r\nFindings\r\nOur
    analysis reveals a significantly stability-decreasing impact of market concentration
    (HHI) and a significantly stability-increasing effect of market power (Lerner
    Indices). In addition, we provide evidence for a weak (or even absent) empirical
    relationship between the (non)structural measures, challenging the validity of
    the structure-conduct-performance (SCP) paradigm. Our baseline findings remain
    robust, especially when controlling for a likely reverse causality.\r\n\r\nOriginality/value\r\nOur
    results suggest that the HHI may reflect other factors beyond market power that
    influence banking stability. Thus, banking supervisors and competition authorities
    should investigate market concentration and market power simultaneously while
    considering their joint impact on banking stability."
author:
- first_name: Sarah
  full_name: Herwald, Sarah
  last_name: Herwald
- first_name: Simone
  full_name: Voigt, Simone
  last_name: Voigt
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
citation:
  ama: Herwald S, Voigt S, Uhde A. The conditional impact of market consolidation
    and market power on banking stability – Evidence from Europe. <i>Journal of Risk
    Finance</i>. 2024;25(3):510-536. doi:<a href="https://doi.org/10.1108/JRF-03-2023-0075">https://doi.org/10.1108/JRF-03-2023-0075</a>
  apa: Herwald, S., Voigt, S., &#38; Uhde, A. (2024). The conditional impact of market
    consolidation and market power on banking stability – Evidence from Europe. <i>Journal
    of Risk Finance</i>, <i>25</i>(3), 510–536. <a href="https://doi.org/10.1108/JRF-03-2023-0075">https://doi.org/10.1108/JRF-03-2023-0075</a>
  bibtex: '@article{Herwald_Voigt_Uhde_2024, title={The conditional impact of market
    consolidation and market power on banking stability – Evidence from Europe}, volume={25},
    DOI={<a href="https://doi.org/10.1108/JRF-03-2023-0075">https://doi.org/10.1108/JRF-03-2023-0075</a>},
    number={3}, journal={Journal of Risk Finance}, author={Herwald, Sarah and Voigt,
    Simone and Uhde, André}, year={2024}, pages={510–536} }'
  chicago: 'Herwald, Sarah, Simone Voigt, and André Uhde. “The Conditional Impact
    of Market Consolidation and Market Power on Banking Stability – Evidence from
    Europe.” <i>Journal of Risk Finance</i> 25, no. 3 (2024): 510–36. <a href="https://doi.org/10.1108/JRF-03-2023-0075">https://doi.org/10.1108/JRF-03-2023-0075</a>.'
  ieee: 'S. Herwald, S. Voigt, and A. Uhde, “The conditional impact of market consolidation
    and market power on banking stability – Evidence from Europe,” <i>Journal of Risk
    Finance</i>, vol. 25, no. 3, pp. 510–536, 2024, doi: <a href="https://doi.org/10.1108/JRF-03-2023-0075">https://doi.org/10.1108/JRF-03-2023-0075</a>.'
  mla: Herwald, Sarah, et al. “The Conditional Impact of Market Consolidation and
    Market Power on Banking Stability – Evidence from Europe.” <i>Journal of Risk
    Finance</i>, vol. 25, no. 3, 2024, pp. 510–36, doi:<a href="https://doi.org/10.1108/JRF-03-2023-0075">https://doi.org/10.1108/JRF-03-2023-0075</a>.
  short: S. Herwald, S. Voigt, A. Uhde, Journal of Risk Finance 25 (2024) 510–536.
date_created: 2022-12-22T07:28:25Z
date_updated: 2024-05-14T12:13:51Z
department:
- _id: '186'
- _id: '188'
doi: https://doi.org/10.1108/JRF-03-2023-0075
intvolume: '        25'
issue: '3'
jel:
- G15
- G21
- G38
keyword:
- market concentration
- market power
- banking stability
- European banking
language:
- iso: eng
page: 510 - 536
publication: Journal of Risk Finance
publication_status: published
status: public
title: The conditional impact of market consolidation and market power on banking
  stability – Evidence from Europe
type: journal_article
user_id: '36049'
volume: 25
year: '2024'
...
---
_id: '13147'
abstract:
- lang: eng
  text: Employing a unique and hand-collected sample of 648 true sale loan securitization
    transactions issued by 57 stock-listed banks across the EU-12 plus Switzerland
    over the period from 1997 to 2010, this paper empirically analyzes the relationship
    between true sale loan securitization and the issuing banks’ non-performing loans
    to total assets ratios. Overall, we provide evidence for a negative impact of
    securitization on NPL exposures suggesting that banks predominantly used securitization
    as an instrument of credit risk transfer and diversification. In addition, the
    analysis at hand reveals a time-sensitive relationship between securitization
    and NPL exposures. While we observe an even stronger NPL-reducing effect through
    securitization during the non-crisis periods, the effect reverses during and after
    the global financial crisis suggesting that banks were forced to provide credit
    enhancement and employ securitization as a funding management tool. Along with
    the results from a variety of sensitivity analyses our study provides important
    implications for the recent debate on reducing NPL exposures of European banks
    by revitalizing the European securitization market.
article_type: original
author:
- first_name: Sascha Tobias
  full_name: Wengerek, Sascha Tobias
  id: '48837'
  last_name: Wengerek
  orcid: 0000-0002-7820-3903
- 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: Wengerek ST, Hippert B, Uhde A. Risk allocation through securitization – Evidence
    from non-performing loans. <i>The Quarterly Review of Economics and Finance</i>.
    2022;Vol. 86 (11):48-64. doi:<a href="https://doi.org/10.1016/j.qref.2022.06.005">https://doi.org/10.1016/j.qref.2022.06.005</a>
  apa: Wengerek, S. T., Hippert, B., &#38; Uhde, A. (2022). Risk allocation through
    securitization – Evidence from non-performing loans. <i>The Quarterly Review of
    Economics and Finance</i>, <i>Vol. 86 (11)</i>, 48–64. <a href="https://doi.org/10.1016/j.qref.2022.06.005">https://doi.org/10.1016/j.qref.2022.06.005</a>
  bibtex: '@article{Wengerek_Hippert_Uhde_2022, title={Risk allocation through securitization
    – Evidence from non-performing loans}, volume={Vol. 86 (11)}, DOI={<a href="https://doi.org/10.1016/j.qref.2022.06.005">https://doi.org/10.1016/j.qref.2022.06.005</a>},
    journal={The Quarterly Review of Economics and Finance}, publisher={Elsevier},
    author={Wengerek, Sascha Tobias and Hippert, Benjamin and Uhde, André}, year={2022},
    pages={48–64} }'
  chicago: 'Wengerek, Sascha Tobias, Benjamin Hippert, and André Uhde. “Risk Allocation
    through Securitization – Evidence from Non-Performing Loans.” <i>The Quarterly
    Review of Economics and Finance</i> Vol. 86 (11) (2022): 48–64. <a href="https://doi.org/10.1016/j.qref.2022.06.005">https://doi.org/10.1016/j.qref.2022.06.005</a>.'
  ieee: 'S. T. Wengerek, B. Hippert, and A. Uhde, “Risk allocation through securitization
    – Evidence from non-performing loans,” <i>The Quarterly Review of Economics and
    Finance</i>, vol. Vol. 86 (11), pp. 48–64, 2022, doi: <a href="https://doi.org/10.1016/j.qref.2022.06.005">https://doi.org/10.1016/j.qref.2022.06.005</a>.'
  mla: Wengerek, Sascha Tobias, et al. “Risk Allocation through Securitization – Evidence
    from Non-Performing Loans.” <i>The Quarterly Review of Economics and Finance</i>,
    vol. Vol. 86 (11), Elsevier, 2022, pp. 48–64, doi:<a href="https://doi.org/10.1016/j.qref.2022.06.005">https://doi.org/10.1016/j.qref.2022.06.005</a>.
  short: S.T. Wengerek, B. Hippert, A. Uhde, The Quarterly Review of Economics and
    Finance Vol. 86 (11) (2022) 48–64.
date_created: 2019-09-06T08:59:28Z
date_updated: 2022-12-23T11:27:53Z
department:
- _id: '186'
- _id: '188'
doi: https://doi.org/10.1016/j.qref.2022.06.005
jel:
- G21
- G28
- G32
keyword:
- European Banking
- Non-performing Loans
- Securitization
language:
- iso: eng
page: 48-64
publication: The Quarterly Review of Economics and Finance
publication_status: published
publisher: Elsevier
status: public
title: Risk allocation through securitization – Evidence from non-performing loans
type: journal_article
user_id: '36049'
volume: Vol. 86 (11)
year: '2022'
...
---
_id: '29317'
abstract:
- lang: eng
  text: In this paper new semiparametric GARCH models with long memory are in- troduced.
    The estimation of the nonparametric scale function is carried out by an adapted
    version of the SEMIFAR algorithm (Beran et al., 2002). Recurring on the revised
    recommendations by the Basel Committee to measure market risk in the banks' trading
    books (Basel Committee on Banking Supervision, 2013), the semi- parametric GARCH
    models are applied to obtain rolling one-step ahead forecasts for the Value at
    Risk (VaR) and Expected Shortfall (ES) for market risk assets. In addition, standard
    regulatory traffic light tests (Basel Committee on Banking Supervision, 1996)
    and a newly introduced traffic light test for the ES are carried out for all models.
    The practical relevance of our proposal is demonstrated by a comparative study.
    Our results indicate that semiparametric long memory GARCH models are an attractive
    alternative to their conventional, parametric counterparts.
author:
- first_name: Sebastian
  full_name: Letmathe, Sebastian
  id: '23991'
  last_name: Letmathe
- first_name: Yuanhua
  full_name: Feng, Yuanhua
  id: '20760'
  last_name: Feng
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
citation:
  ama: Letmathe S, Feng Y, Uhde A. Semiparametric GARCH models with long memory applied
    to Value at Risk and Expected Shortfall. <i>Journal of Risk</i>. doi:<a href="https://doi.org/10.21314/JOR.2022.044">10.21314/JOR.2022.044</a>
  apa: Letmathe, S., Feng, Y., &#38; Uhde, A. (n.d.). Semiparametric GARCH models
    with long memory applied to Value at Risk and Expected Shortfall. <i>Journal of
    Risk</i>. <a href="https://doi.org/10.21314/JOR.2022.044">https://doi.org/10.21314/JOR.2022.044</a>
  bibtex: '@article{Letmathe_Feng_Uhde, title={Semiparametric GARCH models with long
    memory applied to Value at Risk and Expected Shortfall}, DOI={<a href="https://doi.org/10.21314/JOR.2022.044">10.21314/JOR.2022.044</a>},
    journal={Journal of Risk}, author={Letmathe, Sebastian and Feng, Yuanhua and Uhde,
    André} }'
  chicago: Letmathe, Sebastian, Yuanhua Feng, and André Uhde. “Semiparametric GARCH
    Models with Long Memory Applied to Value at Risk and Expected Shortfall.” <i>Journal
    of Risk</i>, n.d. <a href="https://doi.org/10.21314/JOR.2022.044">https://doi.org/10.21314/JOR.2022.044</a>.
  ieee: 'S. Letmathe, Y. Feng, and A. Uhde, “Semiparametric GARCH models with long
    memory applied to Value at Risk and Expected Shortfall,” <i>Journal of Risk</i>,
    doi: <a href="https://doi.org/10.21314/JOR.2022.044">10.21314/JOR.2022.044</a>.'
  mla: Letmathe, Sebastian, et al. “Semiparametric GARCH Models with Long Memory Applied
    to Value at Risk and Expected Shortfall.” <i>Journal of Risk</i>, doi:<a href="https://doi.org/10.21314/JOR.2022.044">10.21314/JOR.2022.044</a>.
  short: S. Letmathe, Y. Feng, A. Uhde, Journal of Risk (n.d.).
date_created: 2022-01-13T11:23:02Z
date_updated: 2024-04-17T13:34:54Z
department:
- _id: '186'
- _id: '19'
doi: 10.21314/JOR.2022.044
jel:
- C14
- C51
- C52
- G17
- G32
keyword:
- Semiparametric
- long memory
- GARCH models
- forecasting
- Value at Risk
- Expected Shortfall
- traffic light test
- Basel Committee on Banking Supervision
language:
- iso: eng
publication: Journal of Risk
publication_status: inpress
status: public
title: Semiparametric GARCH models with long memory applied to Value at Risk and Expected
  Shortfall
type: journal_article
user_id: '36049'
year: '2022'
...
---
_id: '5163'
abstract:
- lang: eng
  text: "Employing a unique hand-collected sample of 956 credit risk securitization
    transactions issued by 64 stock-listed\r\nEuropean banks across the EU-13 plus
    Switzerland over the period from 1997 to 2010, this paper empirically analyzes\r\nthe
    impact of securitization on the issuing banks’ effective tax rates. Our analysis
    reveals that banks may reduce their\r\ntax expense through securitization via
    a direct and indirect channel suggesting that tax avoidance may be a further\r\nmotive
    for banks to engage in the securitization business. These baseline findings remain
    robust under various\r\nrobustness checks, especially when implementing structural
    equation models and controlling for a reverse causality\r\nbetween the banks’
    tax burden and their incentive to securitize. Finally, various sensitivity analyses
    provide further\r\nimportant results and implications for tax policies, banking
    regulation and the ongoing process of revitalizing the\r\nEuropean securitization
    market."
author:
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
citation:
  ama: Uhde A. Tax avoidance through securitization. <i>The Quarterly Review of Economics
    and Finance</i>. 2021;79:411-421. doi:<a href="https://doi.org/10.1016/j.qref.2020.07.008">10.1016/j.qref.2020.07.008</a>
  apa: Uhde, A. (2021). Tax avoidance through securitization. <i>The Quarterly Review
    of Economics and Finance</i>, <i>79</i>, 411–421. <a href="https://doi.org/10.1016/j.qref.2020.07.008">https://doi.org/10.1016/j.qref.2020.07.008</a>
  bibtex: '@article{Uhde_2021, title={Tax avoidance through securitization}, volume={79},
    DOI={<a href="https://doi.org/10.1016/j.qref.2020.07.008">10.1016/j.qref.2020.07.008</a>},
    journal={The Quarterly Review of Economics and Finance}, author={Uhde, André},
    year={2021}, pages={411–421} }'
  chicago: 'Uhde, André. “Tax Avoidance through Securitization.” <i>The Quarterly
    Review of Economics and Finance</i> 79 (2021): 411–21. <a href="https://doi.org/10.1016/j.qref.2020.07.008">https://doi.org/10.1016/j.qref.2020.07.008</a>.'
  ieee: A. Uhde, “Tax avoidance through securitization,” <i>The Quarterly Review of
    Economics and Finance</i>, vol. 79, pp. 411–421, 2021.
  mla: Uhde, André. “Tax Avoidance through Securitization.” <i>The Quarterly Review
    of Economics and Finance</i>, vol. 79, 2021, pp. 411–21, doi:<a href="https://doi.org/10.1016/j.qref.2020.07.008">10.1016/j.qref.2020.07.008</a>.
  short: A. Uhde, The Quarterly Review of Economics and Finance 79 (2021) 411–421.
date_created: 2018-10-31T09:55:40Z
date_updated: 2022-01-06T07:01:40Z
department:
- _id: '186'
- _id: '188'
doi: 10.1016/j.qref.2020.07.008
intvolume: '        79'
jel:
- G21
- G28
- H25
- H71
keyword:
- Securitization
- Credit risk transfer
- Effective tax rates
- European banking
language:
- iso: eng
page: 411-421
publication: The Quarterly Review of Economics and Finance
status: public
title: Tax avoidance through securitization
type: journal_article
user_id: '81176'
volume: 79
year: '2021'
...
---
_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: '29316'
abstract:
- lang: eng
  text: Employing a unique and hand-collected dataset of securitization transactions
    by European banks, this paper analyzes the relationship between true sale loan
    securitization and the issuing banks’ non-performing loans to total assets ratios
    (NPLRs). We provide evidence for an NPLR-reducing effect during the boom phase
    of securitizations suggesting that banks (partly) securitized NPLs as the most
    risky junior tranche. In contrast, we find the reverse effect during the crises
    period indicating that issuing banks demonstrated `skin in the game'. A variety
    of sensitivity analyses provides further important implications for the vital
    debate on reducing NPL exposures and regulating securitization markets.
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>Risk Allocation through Securitization -
    Evidence from Non-Performing Loans</i>.; 2021.
  apa: Hippert, B., Uhde, A., &#38; Wengerek, S. T. (2021). <i>Risk allocation through
    securitization - Evidence from non-performing loans</i>.
  bibtex: '@book{Hippert_Uhde_Wengerek_2021, title={Risk allocation through securitization
    - Evidence from non-performing loans}, author={Hippert, Benjamin and Uhde, André
    and Wengerek, Sascha Tobias}, year={2021} }'
  chicago: Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. <i>Risk Allocation
    through Securitization - Evidence from Non-Performing Loans</i>, 2021.
  ieee: B. Hippert, A. Uhde, and S. T. Wengerek, <i>Risk allocation through securitization
    - Evidence from non-performing loans</i>. 2021.
  mla: Hippert, Benjamin, et al. <i>Risk Allocation through Securitization - Evidence
    from Non-Performing Loans</i>. 2021.
  short: B. Hippert, A. Uhde, S.T. Wengerek, Risk Allocation through Securitization
    - Evidence from Non-Performing Loans, 2021.
date_created: 2022-01-13T11:19:28Z
date_updated: 2024-04-17T13:36:05Z
department:
- _id: '186'
jel:
- G21
- G28
- G32
keyword:
- European Banking
- Non-performing Loans
- Risk Allocation
- Securitization
language:
- iso: eng
status: public
title: Risk allocation through securitization - Evidence from non-performing loans
type: working_paper
user_id: '36049'
year: '2021'
...
---
_id: '17522'
abstract:
- lang: eng
  text: Employing a unique hand-collected sample of 956 credit risk securitization
    transactions issued by 64 stock-listed European banks across the EU-13 plus Switzerland
    over the period from 1997 to 2010, this paper empirically analyzes the impact
    of securitization on the issuing banks’ effective tax rates. Our analysis reveals
    that banks may reduce their tax expense through securitization via a direct and
    indirect channel suggesting that tax avoidance may be a further motive for banks
    to engage in the securitization business. These baseline findings remain robust
    under various robustness checks, especially when implementing structural equation
    models and controlling for a reverse causality between the banks’ tax burden and
    their incentive to securitize. Finally, various sensitivity analyses provide further
    important results and implications for tax policies, banking regulation and the
    ongoing process of revitalizing the European securitization market.
article_type: original
author:
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
citation:
  ama: Uhde A. Tax avoidance through securitization. <i>The Quarterly Review of Economics
    and Finance</i>. Published online 2020. doi:<a href="https://doi.org/10.1016/j.qref.2020.07.008">10.1016/j.qref.2020.07.008</a>
  apa: Uhde, A. (2020). Tax avoidance through securitization. <i>The Quarterly Review
    of Economics and Finance</i>. <a href="https://doi.org/10.1016/j.qref.2020.07.008">https://doi.org/10.1016/j.qref.2020.07.008</a>
  bibtex: '@article{Uhde_2020, title={Tax avoidance through securitization}, DOI={<a
    href="https://doi.org/10.1016/j.qref.2020.07.008">10.1016/j.qref.2020.07.008</a>},
    journal={The Quarterly Review of Economics and Finance}, author={Uhde, André},
    year={2020} }'
  chicago: Uhde, André. “Tax Avoidance through Securitization.” <i>The Quarterly Review
    of Economics and Finance</i>, 2020. <a href="https://doi.org/10.1016/j.qref.2020.07.008">https://doi.org/10.1016/j.qref.2020.07.008</a>.
  ieee: 'A. Uhde, “Tax avoidance through securitization,” <i>The Quarterly Review
    of Economics and Finance</i>, 2020, doi: <a href="https://doi.org/10.1016/j.qref.2020.07.008">10.1016/j.qref.2020.07.008</a>.'
  mla: Uhde, André. “Tax Avoidance through Securitization.” <i>The Quarterly Review
    of Economics and Finance</i>, 2020, doi:<a href="https://doi.org/10.1016/j.qref.2020.07.008">10.1016/j.qref.2020.07.008</a>.
  short: A. Uhde, The Quarterly Review of Economics and Finance (2020).
date_created: 2020-08-01T07:20:33Z
date_updated: 2024-04-17T13:35:56Z
department:
- _id: '19'
doi: 10.1016/j.qref.2020.07.008
jel:
- G21
- G28
- H25
- H71
keyword:
- Securitization
- Credit risk transfer
- Effective tax rates
- European banking
language:
- iso: eng
publication: The Quarterly Review of Economics and Finance
publication_identifier:
  issn:
  - 1062-9769
status: public
title: Tax avoidance through securitization
type: journal_article
user_id: '36049'
year: '2020'
...
---
_id: '17401'
abstract:
- lang: eng
  text: Employing a unique hand-collected sample of 956 credit risk securitization
    transactions issued by 64 stock-listed European banks across the EU-13 plus Switzerland
    over the period from 1997 to 2010, this paper empirically analyzes the impact
    of securitization on the issuing banks’ effective tax rates. Our analysis reveals
    that banks may reduce their tax expense through securitization via a direct and
    indirect channel suggesting that tax avoidance may be a further motive for banks
    to engage in the securitization business. These baseline findings remain robust
    under various robustness checks, especially when implementing structural equation
    models and controlling for a reverse causality between the banks’ tax burden and
    their incentive to securitize. Finally, various sensitivity analyses provide further
    important results and implications for tax policies, banking regulation and the
    ongoing process of revitalizing the European securitization market.
author:
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
citation:
  ama: Uhde A. Tax avoidance through securitization. <i>The Quarterly Review of Economics
    and Finance</i>. Published online 2020.
  apa: Uhde, A. (2020). Tax avoidance through securitization. <i>The Quarterly Review
    of Economics and Finance</i>.
  bibtex: '@article{Uhde_2020, title={Tax avoidance through securitization}, journal={The
    Quarterly Review of Economics and Finance}, author={Uhde, André}, year={2020}
    }'
  chicago: Uhde, André. “Tax Avoidance through Securitization.” <i>The Quarterly Review
    of Economics and Finance</i>, 2020.
  ieee: A. Uhde, “Tax avoidance through securitization,” <i>The Quarterly Review of
    Economics and Finance</i>, 2020.
  mla: Uhde, André. “Tax Avoidance through Securitization.” <i>The Quarterly Review
    of Economics and Finance</i>, 2020.
  short: A. Uhde, The Quarterly Review of Economics and Finance (2020).
date_created: 2020-07-20T06:29:36Z
date_updated: 2024-04-17T13:36:03Z
department:
- _id: '19'
jel:
- G21
- G28
- H25
- H71
keyword:
- Securitization
- credit risk transfer
- effective tax rates
- European banking
language:
- iso: eng
publication: The Quarterly Review of Economics and Finance
status: public
title: Tax avoidance through securitization
type: journal_article
user_id: '36049'
year: '2020'
...
---
_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: '5171'
abstract:
- lang: eng
  text: "Employing a unique and hand-collected sample of 648 true sale loan securitization\r\ntransactions
    issued by 57 stock-listed banks across the EU-12 plus Switzerland\r\nover the
    period from 1997 to 2010, this paper empirically analyzes the relationship\r\nbetween
    true sale loan securitization and the issuing banks' non-performing loan\r\nto
    total assets ratios (NPLRs). We provide evidence for an NPLR-reducing effect\r\nduring
    the boom phase of securitizations in Europe suggesting that banks in our\r\nsample
    may (partly) securitize NPLs as the most risky junior tranche and do not\r\n(fully)
    retain NPLs as a reputation and quality signal towards less informed investors\r\nin
    imperfect capital markets. In contrast, we fi\fnd the reverse effect during the\r\ncrises
    period in Europe indicating that issuing banks provided credit enhancement\r\nand
    demonstrated `skin in the game'. Our baseline result remains robust when\r\ncontrolling
    for endogeneity concerns and a potential persistence in the time series\r\nof
    the NPL data. Moreover, results from a variety of sensitivity analysis reveal\r\nthat
    the NPLR-reducing effect is stronger for opaque securitization transactions,\r\nfor
    issuing banks exhibiting higher average levels of NPLRs and for banks operating\r\nfrom
    non-PIIGS countries. In addition, a reduction of NPLRs through securitization\r\nis
    observed for issued collateralized debt obligations, residential mortgage-backed\r\nsecurities,
    consumer and other unspeci\fed loans as well as for non-frequently issuing,\r\nsystemically
    less important and worse-rated banks. Our analysis offers essential\r\ninsights
    into the loan risk allocation process through securitization and provides\r\nimportant
    implications for the vital debate on reducing NPL exposures and the\r\nprocess
    of revitalizing and regulating the European securitization market."
author:
- 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: Uhde A, Wengerek ST. <i>The Relationship between Credit Risk Transfer and Non-Performing
    Loans. Evidence from European Banks</i>.
  apa: Uhde, A., &#38; Wengerek, S. T. (n.d.). <i>The relationship between credit
    risk transfer and non-performing loans. Evidence from European banks</i>.
  bibtex: '@book{Uhde_Wengerek, title={The relationship between credit risk transfer
    and non-performing loans. Evidence from European banks}, author={Uhde, André and
    Wengerek, Sascha Tobias} }'
  chicago: Uhde, André, and Sascha Tobias Wengerek. <i>The Relationship between Credit
    Risk Transfer and Non-Performing Loans. Evidence from European Banks</i>, n.d.
  ieee: A. Uhde and S. T. Wengerek, <i>The relationship between credit risk transfer
    and non-performing loans. Evidence from European banks</i>. .
  mla: Uhde, André, and Sascha Tobias Wengerek. <i>The Relationship between Credit
    Risk Transfer and Non-Performing Loans. Evidence from European Banks</i>.
  short: A. Uhde, S.T. Wengerek, The Relationship between Credit Risk Transfer and
    Non-Performing Loans. Evidence from European Banks, n.d.
date_created: 2018-10-31T10:07:26Z
date_updated: 2024-04-17T13:34:47Z
department:
- _id: '186'
- _id: '188'
jel:
- G21
- G28
- G32
keyword:
- European Banking
- Non-performing Loans
- Risk Allocation
- Securitization
language:
- iso: eng
publication_status: submitted
status: public
title: The relationship between credit risk transfer and non-performing loans. Evidence
  from European banks
type: working_paper
user_id: '36049'
year: '2017'
...
---
_id: '3376'
abstract:
- lang: eng
  text: Employing compensation data provided by 63 banks from 16 European countries
    for the period from 2000 to 2010 this paper empirically investigates the impact
    of excess variable compensation on bank risk. As a main finding, we provide evidence
    for a risk-increasing impact of excess variable pay for both executive variable
    cash-based and variable equity-based compensation. This baseline finding holds
    under various robustness checks, in particular when controlling for likely reverse
    causality between bank risk and variable compensation by employing Granger-causality
    tests and instrumental variable regressions. In addition, results from a large
    number of sensitivity analyses including board and banking characteristics as
    well as the financial crisis period and the quality of a country's regulatory
    framework provide further important implications for banking regulators and politicians
    in Europe.
author:
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
citation:
  ama: 'Uhde A. Risk-taking incentives through excess variable compensation: Evidence
    from European banks. <i>The Quarterly Review of Economics and Finance</i>. 2016;60(5):12-28.
    doi:<a href="https://doi.org/10.1016/j.qref.2015.11.009">https://doi.org/10.1016/j.qref.2015.11.009</a>'
  apa: 'Uhde, A. (2016). Risk-taking incentives through excess variable compensation:
    Evidence from European banks. <i>The Quarterly Review of Economics and Finance</i>,
    <i>60</i>(5), 12–28. <a href="https://doi.org/10.1016/j.qref.2015.11.009">https://doi.org/10.1016/j.qref.2015.11.009</a>'
  bibtex: '@article{Uhde_2016, title={Risk-taking incentives through excess variable
    compensation: Evidence from European banks}, volume={60}, DOI={<a href="https://doi.org/10.1016/j.qref.2015.11.009">https://doi.org/10.1016/j.qref.2015.11.009</a>},
    number={5}, journal={The Quarterly Review of Economics and Finance}, publisher={Elsevier},
    author={Uhde, André}, year={2016}, pages={12–28} }'
  chicago: 'Uhde, André. “Risk-Taking Incentives through Excess Variable Compensation:
    Evidence from European Banks.” <i>The Quarterly Review of Economics and Finance</i>
    60, no. 5 (2016): 12–28. <a href="https://doi.org/10.1016/j.qref.2015.11.009">https://doi.org/10.1016/j.qref.2015.11.009</a>.'
  ieee: 'A. Uhde, “Risk-taking incentives through excess variable compensation: Evidence
    from European banks,” <i>The Quarterly Review of Economics and Finance</i>, vol.
    60, no. 5, pp. 12–28, 2016, doi: <a href="https://doi.org/10.1016/j.qref.2015.11.009">https://doi.org/10.1016/j.qref.2015.11.009</a>.'
  mla: 'Uhde, André. “Risk-Taking Incentives through Excess Variable Compensation:
    Evidence from European Banks.” <i>The Quarterly Review of Economics and Finance</i>,
    vol. 60, no. 5, Elsevier, 2016, pp. 12–28, doi:<a href="https://doi.org/10.1016/j.qref.2015.11.009">https://doi.org/10.1016/j.qref.2015.11.009</a>.'
  short: A. Uhde, The Quarterly Review of Economics and Finance 60 (2016) 12–28.
date_created: 2018-06-27T12:16:57Z
date_updated: 2023-01-10T09:38:37Z
department:
- _id: '186'
- _id: '188'
doi: https://doi.org/10.1016/j.qref.2015.11.009
intvolume: '        60'
issue: '5'
jel:
- G21
- G28
- G32
- J33
keyword:
- Banking
- Executive compensation
- Risk-taking
- Financial stability
language:
- iso: eng
page: 12-28
publication: The Quarterly Review of Economics and Finance
publication_status: published
publisher: Elsevier
status: public
title: 'Risk-taking incentives through excess variable compensation: Evidence from
  European banks'
type: journal_article
user_id: '21810'
volume: 60
year: '2016'
...
---
_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'
...
---
_id: '4399'
abstract:
- lang: eng
  text: Using a unique sample of 749 cash and synthetic securitization transactions
    issued by 60 stock-listed bank holdings in the EU-13 plus Switzerland over the
    period from 1997 to 2007 this paper provides empirical evidence that credit risk
    securitization has a negative impact on the issuing banks’ financial soundness.
    Baseline findings hold even when controlling for likely reverse causality by employing
    instrumental variable techniques and substituting the accounting-based z-score
    ratio by market-based indicators of bank risk. Moreover, investigating the relationship
    between credit risk securitization and single z-score components in order to evaluate
    significant transmission channels proposed by relevant theoretical literature,
    we find a negative impact of securitization on bank profitability and capital
    environment as well as a positive relationship between securitization and the
    issuing bank's return volatility. Against the background of our empirical results
    we underline that the decision by the Basel Committee to enhance the new Basel
    III framework in the field of securitization is a step in the right direction.
author:
- first_name: Tobias C.
  full_name: Michalak, Tobias C.
  last_name: Michalak
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
citation:
  ama: 'Michalak TC, Uhde A.  Credit risk securitization and bank soundness: Evidence
    from the microlevel for Europe. <i>Quarterly Review of Economics and Finance</i>.
    2012;52(3):272-285. doi:<a href="https://doi.org/10.1016/j.qref.2012.04.008">https://doi.org/10.1016/j.qref.2012.04.008</a>'
  apa: 'Michalak, T. C., &#38; Uhde, A. (2012).  Credit risk securitization and bank
    soundness: Evidence from the microlevel for Europe. <i>Quarterly Review of Economics
    and Finance</i>, <i>52</i>(3), 272–285. <a href="https://doi.org/10.1016/j.qref.2012.04.008">https://doi.org/10.1016/j.qref.2012.04.008</a>'
  bibtex: '@article{Michalak_Uhde_2012, title={ Credit risk securitization and bank
    soundness: Evidence from the microlevel for Europe}, volume={52}, DOI={<a href="https://doi.org/10.1016/j.qref.2012.04.008">https://doi.org/10.1016/j.qref.2012.04.008</a>},
    number={3}, journal={Quarterly Review of Economics and Finance}, author={Michalak,
    Tobias C. and Uhde, André}, year={2012}, pages={272–285} }'
  chicago: 'Michalak, Tobias C., and André Uhde. “ Credit Risk Securitization and
    Bank Soundness: Evidence from the Microlevel for Europe.” <i>Quarterly Review
    of Economics and Finance</i> 52, no. 3 (2012): 272–85. <a href="https://doi.org/10.1016/j.qref.2012.04.008">https://doi.org/10.1016/j.qref.2012.04.008</a>.'
  ieee: 'T. C. Michalak and A. Uhde, “ Credit risk securitization and bank soundness:
    Evidence from the microlevel for Europe,” <i>Quarterly Review of Economics and
    Finance</i>, vol. 52, no. 3, pp. 272–285, 2012, doi: <a href="https://doi.org/10.1016/j.qref.2012.04.008">https://doi.org/10.1016/j.qref.2012.04.008</a>.'
  mla: 'Michalak, Tobias C., and André Uhde. “ Credit Risk Securitization and Bank
    Soundness: Evidence from the Microlevel for Europe.” <i>Quarterly Review of Economics
    and Finance</i>, vol. 52, no. 3, 2012, pp. 272–85, doi:<a href="https://doi.org/10.1016/j.qref.2012.04.008">https://doi.org/10.1016/j.qref.2012.04.008</a>.'
  short: T.C. Michalak, A. Uhde, Quarterly Review of Economics and Finance 52 (2012)
    272–285.
date_created: 2018-09-14T11:59:26Z
date_updated: 2023-01-10T09:32:07Z
department:
- _id: '186'
- _id: '188'
doi: https://doi.org/10.1016/j.qref.2012.04.008
intvolume: '        52'
issue: '3'
jel:
- G21
- G28
keyword:
- Credit risk securitization Bank soundness European banking
language:
- iso: eng
page: 272-285
publication: Quarterly Review of Economics and Finance
publication_status: published
status: public
title: ' Credit risk securitization and bank soundness: Evidence from the microlevel
  for Europe'
type: journal_article
user_id: '21810'
volume: 52
year: '2012'
...
---
_id: '4401'
abstract:
- lang: eng
  text: Employing data on foreign bank claims from 13 OECD countries on 51 emerging
    markets between 1993 and 2007, this study investigates specific characteristics
    of OECD banking markets and lending banks as new important determinants of cross-border
    lending. We initially provide empirical evidence that in addition to well-accepted
    “gravity measures”, characteristics of OECD banking markets as well as lending
    banks’ attributes may describe further important determinants of cross-border
    bank lending with regard to our sample. Building subsamples of more-developed
    emerging markets vs. frontier markets, addressing (non) common lender relationships
    and analyzing cross border lending flows during different time periods, our analysis
    additionally reveals that both the determinants’ explanatory power and their direction
    of impact notably vary with respective subsamples.
author:
- first_name: Oliver
  full_name: Müller, Oliver
  last_name: Müller
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
citation:
  ama: 'Müller O, Uhde A. Cross-border bank lending - Empirical evidence on further
    determinants from OECD banking markets. <i>Journal of International Financial
    Markets, Institutions &#38; Money</i>. 2012;23:136-162. doi:<a href="https://doi.org/DOI:
    10.1016/j.intfin.2012.09.004 ">DOI: 10.1016/j.intfin.2012.09.004 </a>'
  apa: 'Müller, O., &#38; Uhde, A. (2012). Cross-border bank lending - Empirical evidence
    on further determinants from OECD banking markets. <i>Journal of International
    Financial Markets, Institutions &#38; Money</i>, <i>23</i>, 136–162. <a href="https://doi.org/DOI:
    10.1016/j.intfin.2012.09.004 ">https://doi.org/DOI: 10.1016/j.intfin.2012.09.004
    </a>'
  bibtex: '@article{Müller_Uhde_2012, title={Cross-border bank lending - Empirical
    evidence on further determinants from OECD banking markets}, volume={23}, DOI={<a
    href="https://doi.org/DOI: 10.1016/j.intfin.2012.09.004 ">DOI: 10.1016/j.intfin.2012.09.004
    </a>}, journal={Journal of International Financial Markets, Institutions &#38;
    Money}, author={Müller, Oliver and Uhde, André}, year={2012}, pages={136–162}
    }'
  chicago: 'Müller, Oliver, and André Uhde. “Cross-Border Bank Lending - Empirical
    Evidence on Further Determinants from OECD Banking Markets.” <i>Journal of International
    Financial Markets, Institutions &#38; Money</i> 23 (2012): 136–62. <a href="https://doi.org/DOI:
    10.1016/j.intfin.2012.09.004 ">https://doi.org/DOI: 10.1016/j.intfin.2012.09.004
    </a>.'
  ieee: 'O. Müller and A. Uhde, “Cross-border bank lending - Empirical evidence on
    further determinants from OECD banking markets,” <i>Journal of International Financial
    Markets, Institutions &#38; Money</i>, vol. 23, pp. 136–162, 2012, doi: <a href="https://doi.org/DOI:
    10.1016/j.intfin.2012.09.004 ">DOI: 10.1016/j.intfin.2012.09.004 </a>.'
  mla: 'Müller, Oliver, and André Uhde. “Cross-Border Bank Lending - Empirical Evidence
    on Further Determinants from OECD Banking Markets.” <i>Journal of International
    Financial Markets, Institutions &#38; Money</i>, vol. 23, 2012, pp. 136–62, doi:<a
    href="https://doi.org/DOI: 10.1016/j.intfin.2012.09.004 ">DOI: 10.1016/j.intfin.2012.09.004
    </a>.'
  short: O. Müller, A. Uhde, Journal of International Financial Markets, Institutions
    &#38; Money 23 (2012) 136–162.
date_created: 2018-09-14T12:32:57Z
date_updated: 2023-01-10T09:34:19Z
department:
- _id: '186'
- _id: '188'
doi: 'DOI: 10.1016/j.intfin.2012.09.004 '
extern: '1'
intvolume: '        23'
jel:
- F
- G
keyword:
- Foreign bank claims
- Gravity measures
- OECD banking markets’ characteristics
- Lending banks’ characteristics
language:
- iso: eng
page: 136-162
publication: Journal of International Financial Markets, Institutions & Money
publication_status: published
status: public
title: Cross-border bank lending - Empirical evidence on further determinants from
  OECD banking markets
type: journal_article
user_id: '21810'
volume: 23
year: '2012'
...
---
_id: '4402'
abstract:
- lang: eng
  text: 'This contribution presents and discusses main results of a new survey on
    the assessment of supervisory quality among German banks in 2010. In particular,
    it is analyzed if and how supervised banks’ perception of the quality of supervisory
    authorities and their instruments has changed due to the financial crisis starting
    in mid-2007. Subsequently, results from the recent survey are compared with findings
    provided by a former study carried out by the authors in 2006 (Paul, Stein and
    Uhde, 2008). '
author:
- first_name: Stephan
  full_name: Paul, Stephan
  last_name: Paul
- first_name: Stefan
  full_name: Stein, Stefan
  last_name: Stein
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
citation:
  ama: Paul S, Stein S, Uhde A. Measuring the quality of banking supervision revisited
    - Assessments by German banks before and during the financial crisis. <i>Journal
    of Governance and Regulation</i>. 2012;1(3):96-109. doi:<a href="http://dx.doi.org/10.2139/ssrn.1946120
    ">http://dx.doi.org/10.2139/ssrn.1946120 </a>
  apa: Paul, S., Stein, S., &#38; Uhde, A. (2012). Measuring the quality of banking
    supervision revisited - Assessments by German banks before and during the financial
    crisis. <i>Journal of Governance and Regulation</i>, <i>1</i>(3), 96–109. <a href="http://dx.doi.org/10.2139/ssrn.1946120
    ">http://dx.doi.org/10.2139/ssrn.1946120 </a>
  bibtex: '@article{Paul_Stein_Uhde_2012, title={Measuring the quality of banking
    supervision revisited - Assessments by German banks before and during the financial
    crisis}, volume={1}, DOI={<a href="http://dx.doi.org/10.2139/ssrn.1946120 ">http://dx.doi.org/10.2139/ssrn.1946120
    </a>}, number={3}, journal={Journal of Governance and Regulation}, author={Paul,
    Stephan and Stein, Stefan and Uhde, André}, year={2012}, pages={96–109} }'
  chicago: 'Paul, Stephan, Stefan Stein, and André Uhde. “Measuring the Quality of
    Banking Supervision Revisited - Assessments by German Banks before and during
    the Financial Crisis.” <i>Journal of Governance and Regulation</i> 1, no. 3 (2012):
    96–109. <a href="http://dx.doi.org/10.2139/ssrn.1946120 ">http://dx.doi.org/10.2139/ssrn.1946120
    </a>.'
  ieee: 'S. Paul, S. Stein, and A. Uhde, “Measuring the quality of banking supervision
    revisited - Assessments by German banks before and during the financial crisis,”
    <i>Journal of Governance and Regulation</i>, vol. 1, no. 3, pp. 96–109, 2012,
    doi: <a href="http://dx.doi.org/10.2139/ssrn.1946120 ">http://dx.doi.org/10.2139/ssrn.1946120
    </a>.'
  mla: Paul, Stephan, et al. “Measuring the Quality of Banking Supervision Revisited
    - Assessments by German Banks before and during the Financial Crisis.” <i>Journal
    of Governance and Regulation</i>, vol. 1, no. 3, 2012, pp. 96–109, doi:<a href="http://dx.doi.org/10.2139/ssrn.1946120
    ">http://dx.doi.org/10.2139/ssrn.1946120 </a>.
  short: S. Paul, S. Stein, A. Uhde, Journal of Governance and Regulation 1 (2012)
    96–109.
date_created: 2018-09-14T12:37:30Z
date_updated: 2023-01-10T09:35:07Z
department:
- _id: '186'
- _id: '188'
doi: 'http://dx.doi.org/10.2139/ssrn.1946120 '
extern: '1'
intvolume: '         1'
issue: '3'
jel:
- G21
- G28
keyword:
- banking supervision
- quality
- assessment
- banking sector
language:
- iso: eng
page: 96-109
publication: Journal of Governance and Regulation
publication_status: published
status: public
title: Measuring the quality of banking supervision revisited - Assessments by German
  banks before and during the financial crisis
type: journal_article
user_id: '21810'
volume: 1
year: '2012'
...
---
_id: '36021'
abstract:
- lang: eng
  text: 'Using a sample of stock-listed bank holding companies located in Western
    Europe over the period from 1997 to 2008 this paper provides empirical evidence
    that an increase in short-term interest rates as well as an extended period of
    expansionary monetary policy has a negative impact on European stock-listed banks’
    soundness as measured by the Expected Default Frequency. Against this background
    and in order to evaluate interactions between the risk-taking channel of monetary
    policy and the competitiveness of a country’s banking market we find a negative
    impact of an increase in competition in the loan market – proxied by the Boone-indicator
    – on financial soundness. Referring to the structural-conduct performance (SCP)
    paradigm, this paper provides further evidence that an increase in concentration
    in the banking market spurs financial soundness. '
author:
- first_name: Tobias C.
  full_name: Michalak, Tobias C.
  last_name: Michalak
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
citation:
  ama: Michalak TC, Uhde A. <i>The Nexus between Monetary Policy, Banking Market Structure
    and Bank Risk Taking</i>. Paderborn University; 2011.
  apa: Michalak, T. C., &#38; Uhde, A. (2011). <i>The Nexus between Monetary Policy,
    Banking Market Structure and Bank Risk Taking</i>. Paderborn University.
  bibtex: '@book{Michalak_Uhde_2011, title={The Nexus between Monetary Policy, Banking
    Market Structure and Bank Risk Taking}, publisher={Paderborn University}, author={Michalak,
    Tobias C. and Uhde, André}, year={2011} }'
  chicago: Michalak, Tobias C., and André Uhde. <i>The Nexus between Monetary Policy,
    Banking Market Structure and Bank Risk Taking</i>. Paderborn University, 2011.
  ieee: T. C. Michalak and A. Uhde, <i>The Nexus between Monetary Policy, Banking
    Market Structure and Bank Risk Taking</i>. Paderborn University, 2011.
  mla: Michalak, Tobias C., and André Uhde. <i>The Nexus between Monetary Policy,
    Banking Market Structure and Bank Risk Taking</i>. Paderborn University, 2011.
  short: T.C. Michalak, A. Uhde, The Nexus between Monetary Policy, Banking Market
    Structure and Bank Risk Taking, Paderborn University, 2011.
date_created: 2023-01-11T11:04:30Z
date_updated: 2024-04-17T13:35:15Z
department:
- _id: '186'
- _id: '188'
jel:
- E43
- E44
- E52
- G01
- G28
keyword:
- risk-taking channel
- competition
- concentration
- bank soundness
- European banking
language:
- iso: eng
publication_status: published
publisher: Paderborn University
status: public
title: The Nexus between Monetary Policy, Banking Market Structure and Bank Risk Taking
type: working_paper
user_id: '21810'
year: '2011'
...
---
_id: '4406'
abstract:
- lang: eng
  text: Using aggregate balance sheet data from banks across the EU-25 over the period
    from 1997 to 2005 we provide empirical evidence that national banking market concentration
    has a negative impact on European banks’ financial soundness as measured by the
    Z-score technique while controlling for macroeconomic, bank-specific, regulatory,
    and institutional factors. Furthermore, our analysis reveals that Eastern European
    banking markets exhibiting a lower level of competitive pressure, fewer diversification
    opportunities and a higher fraction of government-owned banks are more prone to
    financial fragility whereas capital regulations have supported financial stability
    across the entire European Union.
author:
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
- first_name: Ulrich
  full_name: Heimeshoff, Ulrich
  last_name: Heimeshoff
citation:
  ama: 'Uhde A, Heimeshoff U. Consolidation in banking and financial stability in
    Europe: Empirical evidence. <i>Journal of Banking &#38; Finance</i>. 2009;33(7):1299-1311.
    doi:<a href="https://doi.org/10.1016/j.jbankfin.2009.01.006">https://doi.org/10.1016/j.jbankfin.2009.01.006</a>'
  apa: 'Uhde, A., &#38; Heimeshoff, U. (2009). Consolidation in banking and financial
    stability in Europe: Empirical evidence. <i>Journal of Banking &#38; Finance</i>,
    <i>33</i>(7), 1299–1311. <a href="https://doi.org/10.1016/j.jbankfin.2009.01.006">https://doi.org/10.1016/j.jbankfin.2009.01.006</a>'
  bibtex: '@article{Uhde_Heimeshoff_2009, title={Consolidation in banking and financial
    stability in Europe: Empirical evidence}, volume={33}, DOI={<a href="https://doi.org/10.1016/j.jbankfin.2009.01.006">https://doi.org/10.1016/j.jbankfin.2009.01.006</a>},
    number={7}, journal={Journal of Banking &#38; Finance}, author={Uhde, André and
    Heimeshoff, Ulrich}, year={2009}, pages={1299–1311} }'
  chicago: 'Uhde, André, and Ulrich Heimeshoff. “Consolidation in Banking and Financial
    Stability in Europe: Empirical Evidence.” <i>Journal of Banking &#38; Finance</i>
    33, no. 7 (2009): 1299–1311. <a href="https://doi.org/10.1016/j.jbankfin.2009.01.006">https://doi.org/10.1016/j.jbankfin.2009.01.006</a>.'
  ieee: 'A. Uhde and U. Heimeshoff, “Consolidation in banking and financial stability
    in Europe: Empirical evidence,” <i>Journal of Banking &#38; Finance</i>, vol.
    33, no. 7, pp. 1299–1311, 2009, doi: <a href="https://doi.org/10.1016/j.jbankfin.2009.01.006">https://doi.org/10.1016/j.jbankfin.2009.01.006</a>.'
  mla: 'Uhde, André, and Ulrich Heimeshoff. “Consolidation in Banking and Financial
    Stability in Europe: Empirical Evidence.” <i>Journal of Banking &#38; Finance</i>,
    vol. 33, no. 7, 2009, pp. 1299–311, doi:<a href="https://doi.org/10.1016/j.jbankfin.2009.01.006">https://doi.org/10.1016/j.jbankfin.2009.01.006</a>.'
  short: A. Uhde, U. Heimeshoff, Journal of Banking &#38; Finance 33 (2009) 1299–1311.
date_created: 2018-09-14T13:02:19Z
date_updated: 2023-01-10T09:36:22Z
department:
- _id: '186'
- _id: '188'
doi: https://doi.org/10.1016/j.jbankfin.2009.01.006
extern: '1'
intvolume: '        33'
issue: '7'
jel:
- G21
- G28
- G34
- L16
keyword:
- Market structure
- Financial stability
- Banking regulation
language:
- iso: eng
page: 1299-1311
publication: Journal of Banking & Finance
publication_status: published
status: public
title: 'Consolidation in banking and financial stability in Europe: Empirical evidence'
type: journal_article
user_id: '21810'
volume: 33
year: '2009'
...
---
_id: '4407'
abstract:
- lang: eng
  text: 'The successful implementation of a harmonised regulatory framework for the
    global banking system is still a long way off. This mainly results from (a) different
    traditions in banking regulation and supervision at the national level, (b) different
    national emphases on regulatory sub-goals such as efficiency or the protection
    and promotion of national financial markets, and (c) different institutional settings
    and conditions. In this context, studies on the banking industry''s assessment
    of supervisory processes and instruments highlight how effectively and efficiently
    individual nation states are implementing international frameworks such as Basel
    II and the Capital Requirements Directive for Europe. In November 2005, the German
    Government commissioned an evaluation of the supervisory processes and instruments
    of the country''s banking authorities, BaFin and Bundesbank. The study aimed to
    determine the options for further optimising supervision, reducing regulatory
    burden and bureaucracy, and otherwise restricting supervision. This paper presents
    the most important findings from the survey, analyses significant differences
    in assessments given by various banking groups, empirically evaluates significant
    drivers of banks'' overall satisfaction with banking supervision, and drafts proposals
    for improving banking regulation and supervision in Germany. Finally, aspects
    of further research are discussed. '
author:
- first_name: Stephan
  full_name: Paul, Stephan
  last_name: Paul
- first_name: Stefan
  full_name: Stein, Stefan
  last_name: Stein
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
citation:
  ama: 'Paul S, Stein S, Uhde A. Measuring the relationship between supervisory authorities
    and banks: An assessment of the German banking sector. <i>Journal of Risk Managment
    in Financial Institutions</i>. 2008;2(1):69-87.'
  apa: 'Paul, S., Stein, S., &#38; Uhde, A. (2008). Measuring the relationship between
    supervisory authorities and banks: An assessment of the German banking sector.
    <i>Journal of Risk Managment in Financial Institutions</i>, <i>2</i>(1), 69–87.'
  bibtex: '@article{Paul_Stein_Uhde_2008, title={Measuring the relationship between
    supervisory authorities and banks: An assessment of the German banking sector},
    volume={2}, number={1}, journal={Journal of Risk Managment in Financial Institutions},
    author={Paul, Stephan and Stein, Stefan and Uhde, André}, year={2008}, pages={69–87}
    }'
  chicago: 'Paul, Stephan, Stefan Stein, and André Uhde. “Measuring the Relationship
    between Supervisory Authorities and Banks: An Assessment of the German Banking
    Sector.” <i>Journal of Risk Managment in Financial Institutions</i> 2, no. 1 (2008):
    69–87.'
  ieee: 'S. Paul, S. Stein, and A. Uhde, “Measuring the relationship between supervisory
    authorities and banks: An assessment of the German banking sector,” <i>Journal
    of Risk Managment in Financial Institutions</i>, vol. 2, no. 1, pp. 69–87, 2008.'
  mla: 'Paul, Stephan, et al. “Measuring the Relationship between Supervisory Authorities
    and Banks: An Assessment of the German Banking Sector.” <i>Journal of Risk Managment
    in Financial Institutions</i>, vol. 2, no. 1, 2008, pp. 69–87.'
  short: S. Paul, S. Stein, A. Uhde, Journal of Risk Managment in Financial Institutions
    2 (2008) 69–87.
date_created: 2018-09-14T13:08:39Z
date_updated: 2023-01-10T09:36:51Z
department:
- _id: '186'
- _id: '188'
extern: '1'
intvolume: '         2'
issue: '1'
jel:
- G21
- G28
keyword:
- banking supervision
- quality
- assessment
- banking sector
language:
- iso: eng
page: 69-87
publication: Journal of Risk Managment in Financial Institutions
publication_status: published
status: public
title: 'Measuring the relationship between supervisory authorities and banks: An assessment
  of the German banking sector'
type: journal_article
user_id: '21810'
volume: 2
year: '2008'
...