[{"author":[{"id":"36049","full_name":"Uhde, André","last_name":"Uhde","orcid":"https://orcid.org/0000-0002-8058-8857","first_name":"André"}],"year":"2016","title":"Risk-taking incentives through excess variable compensation: Evidence from European banks","intvolume":"        60","date_updated":"2023-01-10T09:38:37Z","publication_status":"published","language":[{"iso":"eng"}],"doi":"https://doi.org/10.1016/j.qref.2015.11.009","issue":"5","publication":"The Quarterly Review of Economics and Finance","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."}],"date_created":"2018-06-27T12:16:57Z","department":[{"_id":"186"},{"_id":"188"}],"keyword":["Banking","Executive compensation","Risk-taking","Financial stability"],"type":"journal_article","jel":["G21","G28","G32","J33"],"status":"public","_id":"3376","publisher":"Elsevier","page":"12-28","volume":60,"user_id":"21810","citation":{"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>.","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} }","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>","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>.","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>","short":"A. Uhde, The Quarterly Review of Economics and Finance 60 (2016) 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>."}},{"jel":["G21","G28"],"status":"public","_id":"4396","page":"12-27","volume":56,"user_id":"21810","citation":{"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>.","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>","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} }","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>","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>.","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>.","short":"C. Farruggio, A. Uhde, Journal of Banking and Finance 56 (2015) 12–27."},"author":[{"full_name":"Farruggio, Christian","last_name":"Farruggio","first_name":"Christian"},{"id":"36049","first_name":"André","last_name":"Uhde","orcid":"https://orcid.org/0000-0002-8058-8857","full_name":"Uhde, André"}],"year":"2015","title":"Determinants of loan securitization in European banking","intvolume":"        56","publication_status":"published","date_updated":"2023-01-10T09:37:18Z","language":[{"iso":"eng"}],"doi":"10.1016/j.jbankfin.2015.01.015 ","publication":"Journal of Banking and Finance","abstract":[{"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.","lang":"eng"}],"date_created":"2018-09-14T11:26:52Z","department":[{"_id":"186"},{"_id":"188"}],"type":"journal_article","keyword":["Securitization","Determinants","European banking"]},{"abstract":[{"lang":"eng","text":"Employing a Hausman–Taylor instrument variable (HT–IV) estimator to data from 558 microfinance institutions (MFIs) in 80 developing countries for the period from 2002 to 2007, this paper provides empirical evidence for a positive impact of a country's external governance quality and outcome on local microbanks' economic success in terms of profitability and sustainability. Evidence as well suggests a negative relationship between external governance and the microbanks' social success measured by the depth of outreach. In this context, our analysis reveals that a country's political stability, governance effectiveness, regulatory quality and rule of law are significant key elements of external governance affecting the MFIs' functional performance. Moreover, results from sensitivity analyses indicate that the relationship between external governance quality and microfinance functional performance significantly depends on the microbanks' business concepts, their lending methodologies and sources of funding."}],"publication":" International Journal of Monetary Economics and Finance ","issue":"2/3","department":[{"_id":"186"},{"_id":"188"}],"type":"journal_article","keyword":["microfinance","external governance","economic success","social success","developing countries","profitability","sustainability","microbanks","outreach","political stability","governance effectiveness","regulatory quality","rule of law","governance quality","lending methodologies","funding sources"],"date_created":"2018-09-14T11:53:25Z","intvolume":"         6","date_updated":"2023-01-10T09:38:58Z","publication_status":"published","publication_identifier":{"eissn":["1752-0487"]},"author":[{"id":"36049","last_name":"Uhde","orcid":"https://orcid.org/0000-0002-8058-8857","first_name":"André","full_name":"Uhde, André"},{"first_name":"Oliver","last_name":"Müller","full_name":"Müller, Oliver"}],"title":"External governance outcome and microfinance success","year":"2013","alternative_title":["The impact of external governance quality on the economic and social success of microfinance institutions "],"doi":"https://doi.org/10.1504/IJMEF.2013.056394","language":[{"iso":"eng"}],"citation":{"chicago":"Uhde, André, and Oliver Müller. “External Governance Outcome and Microfinance Success.” <i> International Journal of Monetary Economics and Finance </i> 6, no. 2/3 (2013): 116–49. <a href=\"https://doi.org/10.1504/IJMEF.2013.056394\">https://doi.org/10.1504/IJMEF.2013.056394</a>.","short":"A. Uhde, O. Müller,  International Journal of Monetary Economics and Finance  6 (2013) 116–149.","apa":"Uhde, A., &#38; Müller, O. (2013). External governance outcome and microfinance success. <i> International Journal of Monetary Economics and Finance </i>, <i>6</i>(2/3), 116–149. <a href=\"https://doi.org/10.1504/IJMEF.2013.056394\">https://doi.org/10.1504/IJMEF.2013.056394</a>","ieee":"A. Uhde and O. Müller, “External governance outcome and microfinance success,” <i> International Journal of Monetary Economics and Finance </i>, vol. 6, no. 2/3, pp. 116–149, 2013, doi: <a href=\"https://doi.org/10.1504/IJMEF.2013.056394\">https://doi.org/10.1504/IJMEF.2013.056394</a>.","ama":"Uhde A, Müller O. External governance outcome and microfinance success. <i> International Journal of Monetary Economics and Finance </i>. 2013;6(2/3):116-149. doi:<a href=\"https://doi.org/10.1504/IJMEF.2013.056394\">https://doi.org/10.1504/IJMEF.2013.056394</a>","bibtex":"@article{Uhde_Müller_2013, title={External governance outcome and microfinance success}, volume={6}, DOI={<a href=\"https://doi.org/10.1504/IJMEF.2013.056394\">https://doi.org/10.1504/IJMEF.2013.056394</a>}, number={2/3}, journal={ International Journal of Monetary Economics and Finance }, author={Uhde, André and Müller, Oliver}, year={2013}, pages={116–149} }","mla":"Uhde, André, and Oliver Müller. “External Governance Outcome and Microfinance Success.” <i> International Journal of Monetary Economics and Finance </i>, vol. 6, no. 2/3, 2013, pp. 116–49, doi:<a href=\"https://doi.org/10.1504/IJMEF.2013.056394\">https://doi.org/10.1504/IJMEF.2013.056394</a>."},"jel":["G21","G28"],"status":"public","volume":6,"user_id":"21810","_id":"4398","page":"116-149"},{"citation":{"ama":"Farruggio C, Michalak TC, Uhde A. The light and dark side of TARP. <i>Journal of Banking and Finance</i>. 2013;32(5):2586-2604. doi:<a href=\"https://doi.org/10.1016/j.jbankfin.2013.02.020\">10.1016/j.jbankfin.2013.02.020</a>","bibtex":"@article{Farruggio_Michalak_Uhde_2013, title={The light and dark side of TARP}, volume={32}, DOI={<a href=\"https://doi.org/10.1016/j.jbankfin.2013.02.020\">10.1016/j.jbankfin.2013.02.020</a>}, number={5}, journal={Journal of Banking and Finance}, author={Farruggio, Christian and Michalak, Tobias C. and Uhde, André}, year={2013}, pages={2586–2604} }","mla":"Farruggio, Christian, et al. “The Light and Dark Side of TARP.” <i>Journal of Banking and Finance</i>, vol. 32, no. 5, 2013, pp. 2586–604, doi:<a href=\"https://doi.org/10.1016/j.jbankfin.2013.02.020\">10.1016/j.jbankfin.2013.02.020</a>.","short":"C. Farruggio, T.C. Michalak, A. Uhde, Journal of Banking and Finance 32 (2013) 2586–2604.","chicago":"Farruggio, Christian, Tobias C. Michalak, and André Uhde. “The Light and Dark Side of TARP.” <i>Journal of Banking and Finance</i> 32, no. 5 (2013): 2586–2604. <a href=\"https://doi.org/10.1016/j.jbankfin.2013.02.020\">https://doi.org/10.1016/j.jbankfin.2013.02.020</a>.","apa":"Farruggio, C., Michalak, T. C., &#38; Uhde, A. (2013). The light and dark side of TARP. <i>Journal of Banking and Finance</i>, <i>32</i>(5), 2586–2604. <a href=\"https://doi.org/10.1016/j.jbankfin.2013.02.020\">https://doi.org/10.1016/j.jbankfin.2013.02.020</a>","ieee":"C. Farruggio, T. C. Michalak, and A. Uhde, “The light and dark side of TARP,” <i>Journal of Banking and Finance</i>, vol. 32, no. 5, pp. 2586–2604, 2013, doi: <a href=\"https://doi.org/10.1016/j.jbankfin.2013.02.020\">10.1016/j.jbankfin.2013.02.020</a>."},"volume":32,"user_id":"21810","_id":"4397","page":"2586-2604","jel":["G14","G21","G28"],"status":"public","department":[{"_id":"186"},{"_id":"188"}],"keyword":["Financial crisis","TARP","Market efficiency","Event study"],"type":"journal_article","date_created":"2018-09-14T11:40:31Z","abstract":[{"text":"Employing four event dates of the U.S. “Troubled Asset Relief Program” (TARP) this paper empirically investigates the impact of the first announcement of TARP (September 19, 2008), the announcement of revised TARP (October 14, 2008), respective capital infusions under TARP-CPP and capital repayments on changes in shareholder value and risk exposure of 125 supported U.S. banks as perceived by the capital market through share price reactions for an entire sample period from September 19, 2008 to June 16, 2010. Our analysis reveals a light and a dark side of TARP. While announcements as well as capital repayments may restore market confidence and financial stability, equity capital injections to banks are observed to be a severe impediment to an increase in bank shareholder value and financial soundness. ","lang":"eng"}],"publication":"Journal of Banking and Finance","issue":"5","doi":"10.1016/j.jbankfin.2013.02.020","language":[{"iso":"eng"}],"intvolume":"        32","publication_status":"published","date_updated":"2023-01-10T09:37:43Z","author":[{"full_name":"Farruggio, Christian","first_name":"Christian","last_name":"Farruggio"},{"first_name":"Tobias C.","last_name":"Michalak","full_name":"Michalak, Tobias C."},{"id":"36049","orcid":"https://orcid.org/0000-0002-8058-8857","first_name":"André","last_name":"Uhde","full_name":"Uhde, André"}],"title":"The light and dark side of TARP","year":"2013"},{"abstract":[{"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.","lang":"eng"}],"issue":"3","publication":"Quarterly Review of Economics and Finance","department":[{"_id":"186"},{"_id":"188"}],"type":"journal_article","keyword":["Credit risk securitization Bank soundness European banking"],"date_created":"2018-09-14T11:59:26Z","intvolume":"        52","date_updated":"2023-01-10T09:32:07Z","publication_status":"published","author":[{"full_name":"Michalak, Tobias C.","first_name":"Tobias C.","last_name":"Michalak"},{"id":"36049","last_name":"Uhde","first_name":"André","orcid":"https://orcid.org/0000-0002-8058-8857","full_name":"Uhde, André"}],"year":"2012","title":" Credit risk securitization and bank soundness: Evidence from the microlevel for Europe","doi":"https://doi.org/10.1016/j.qref.2012.04.008","language":[{"iso":"eng"}],"citation":{"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>.","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>","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>.","short":"T.C. Michalak, A. Uhde, Quarterly Review of Economics and Finance 52 (2012) 272–285.","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>.","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} }","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>"},"jel":["G21","G28"],"status":"public","volume":52,"user_id":"21810","_id":"4399","page":"272-285"},{"language":[{"iso":"eng"}],"doi":"DOI: 10.1016/j.intfin.2012.09.004 ","author":[{"last_name":"Müller","first_name":"Oliver","full_name":"Müller, Oliver"},{"first_name":"André","orcid":"https://orcid.org/0000-0002-8058-8857","last_name":"Uhde","full_name":"Uhde, André","id":"36049"}],"title":"Cross-border bank lending - Empirical evidence on further determinants from OECD banking markets","year":"2012","intvolume":"        23","publication_status":"published","date_updated":"2023-01-10T09:34:19Z","date_created":"2018-09-14T12:32:57Z","department":[{"_id":"186"},{"_id":"188"}],"type":"journal_article","keyword":["Foreign bank claims","Gravity measures","OECD banking markets’ characteristics","Lending banks’ characteristics"],"publication":"Journal of International Financial Markets, Institutions & Money","extern":"1","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."}],"_id":"4401","page":"136-162","volume":23,"user_id":"21810","jel":["F","G"],"status":"public","citation":{"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} }","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>","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.","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>.","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>"}},{"citation":{"chicago":"Farruggio, Christian, Tobias C. Michalak, and André Uhde. “Wealth Effects of Credit Risk Securitization in European Banking.” <i>Journal of Business Finance and Accounting</i> 39, no. 1 &#38; 2 (2012): 193–228. <a href=\"https://doi.org/10.1111/j.1468-5957.2012.02273.x\">https://doi.org/10.1111/j.1468-5957.2012.02273.x</a>.","short":"C. Farruggio, T.C. Michalak, A. Uhde, Journal of Business Finance and Accounting 39 (2012) 193–228.","apa":"Farruggio, C., Michalak, T. C., &#38; Uhde, A. (2012). Wealth effects of credit risk securitization in European Banking. <i>Journal of Business Finance and Accounting</i>, <i>39</i>(1 &#38; 2), 193–228. <a href=\"https://doi.org/10.1111/j.1468-5957.2012.02273.x\">https://doi.org/10.1111/j.1468-5957.2012.02273.x</a>","ieee":"C. Farruggio, T. C. Michalak, and A. Uhde, “Wealth effects of credit risk securitization in European Banking,” <i>Journal of Business Finance and Accounting</i>, vol. 39, no. 1 &#38; 2, pp. 193–228, 2012, doi: <a href=\"https://doi.org/10.1111/j.1468-5957.2012.02273.x\">https://doi.org/10.1111/j.1468-5957.2012.02273.x</a>.","ama":"Farruggio C, Michalak TC, Uhde A. Wealth effects of credit risk securitization in European Banking. <i>Journal of Business Finance and Accounting</i>. 2012;39(1 &#38; 2):193-228. doi:<a href=\"https://doi.org/10.1111/j.1468-5957.2012.02273.x\">https://doi.org/10.1111/j.1468-5957.2012.02273.x</a>","bibtex":"@article{Farruggio_Michalak_Uhde_2012, title={Wealth effects of credit risk securitization in European Banking}, volume={39}, DOI={<a href=\"https://doi.org/10.1111/j.1468-5957.2012.02273.x\">https://doi.org/10.1111/j.1468-5957.2012.02273.x</a>}, number={1 &#38; 2}, journal={Journal of Business Finance and Accounting}, author={Farruggio, Christian and Michalak, Tobias C. and Uhde, André}, year={2012}, pages={193–228} }","mla":"Farruggio, Christian, et al. “Wealth Effects of Credit Risk Securitization in European Banking.” <i>Journal of Business Finance and Accounting</i>, vol. 39, no. 1 &#38; 2, 2012, pp. 193–228, doi:<a href=\"https://doi.org/10.1111/j.1468-5957.2012.02273.x\">https://doi.org/10.1111/j.1468-5957.2012.02273.x</a>."},"jel":["G","F"],"status":"public","_id":"4403","page":"193-228","volume":39,"user_id":"21810","publication":"Journal of Business Finance and Accounting","issue":"1&2","abstract":[{"text":"Using a unique cross‐sectional dataset of 381 cash and synthetic securitizations issued by 53 banks from the EU‐15 plus Switzerland between 1997 and 2007, this paper provides empirical evidence for time‐dependent negative wealth effects of credit risk securitization announcements in European banking. Baseline results hold when comparing estimated wealth effects with a control group of similar but non‐securitizing banks for the relevant time period. Moreover, building several sub samples we find that the nexus between credit risk securitization, the issuing banks’ overall risk exposure and wealth effects is associated with a variety of transaction‐ and bank‐specific factors. ","lang":"eng"}],"extern":"1","date_created":"2018-09-14T12:44:33Z","department":[{"_id":"186"},{"_id":"188"}],"type":"journal_article","keyword":["wealth effects","credit risk securitization","Europe","event study"],"author":[{"full_name":"Farruggio, Christian","first_name":"Christian","last_name":"Farruggio"},{"full_name":"Michalak, Tobias C.","first_name":"Tobias C.","last_name":"Michalak"},{"full_name":"Uhde, André","orcid":"https://orcid.org/0000-0002-8058-8857","first_name":"André","last_name":"Uhde","id":"36049"}],"year":"2012","title":"Wealth effects of credit risk securitization in European Banking","intvolume":"        39","date_updated":"2023-01-10T09:35:34Z","publication_status":"published","language":[{"iso":"eng"}],"doi":"https://doi.org/10.1111/j.1468-5957.2012.02273.x"},{"citation":{"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>.","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>","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} }","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>","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>.","short":"S. Paul, S. Stein, A. Uhde, Journal of Governance and Regulation 1 (2012) 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>."},"status":"public","jel":["G21","G28"],"page":"96-109","_id":"4402","user_id":"21810","volume":1,"publication":"Journal of Governance and Regulation","issue":"3","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). "}],"extern":"1","date_created":"2018-09-14T12:37:30Z","type":"journal_article","keyword":["banking supervision","quality","assessment","banking sector"],"department":[{"_id":"186"},{"_id":"188"}],"title":"Measuring the quality of banking supervision revisited - Assessments by German banks before and during the financial crisis","year":"2012","author":[{"full_name":"Paul, Stephan","last_name":"Paul","first_name":"Stephan"},{"last_name":"Stein","first_name":"Stefan","full_name":"Stein, Stefan"},{"full_name":"Uhde, André","first_name":"André","last_name":"Uhde","orcid":"https://orcid.org/0000-0002-8058-8857","id":"36049"}],"date_updated":"2023-01-10T09:35:07Z","publication_status":"published","intvolume":"         1","language":[{"iso":"eng"}],"doi":"http://dx.doi.org/10.2139/ssrn.1946120 "},{"date_created":"2023-01-11T11:00:57Z","department":[{"_id":"186"},{"_id":"188"}],"keyword":["Sovereign risk","Structural credit risk models","bank-specific CDS pricing"],"type":"working_paper","citation":{"mla":"Meine, Christian, et al. <i>Sovereign Risk and Bank-Specific CDS Pricing</i>. Paderborn University, 2012.","bibtex":"@book{Meine_Michalak_Uhde_2012, title={Sovereign Risk and Bank-Specific CDS Pricing}, publisher={Paderborn University}, author={Meine, Christian and Michalak, Tobias C. and Uhde, André}, year={2012} }","ama":"Meine C, Michalak TC, Uhde A. <i>Sovereign Risk and Bank-Specific CDS Pricing</i>. Paderborn University; 2012.","ieee":"C. Meine, T. C. Michalak, and A. Uhde, <i>Sovereign Risk and Bank-Specific CDS Pricing</i>. Paderborn University, 2012.","apa":"Meine, C., Michalak, T. C., &#38; Uhde, A. (2012). <i>Sovereign Risk and Bank-Specific CDS Pricing</i>. Paderborn University.","chicago":"Meine, Christian, Tobias C. Michalak, and André Uhde. <i>Sovereign Risk and Bank-Specific CDS Pricing</i>. Paderborn University, 2012.","short":"C. Meine, T.C. Michalak, A. Uhde, Sovereign Risk and Bank-Specific CDS Pricing, Paderborn University, 2012."},"abstract":[{"lang":"eng","text":"Employing time series of single-name CDS market spreads from 29 European banks located in the EU-12 plus Switzerland and the UK over the period from January 2004 through September 2010 this paper analyses the relationship between increasing sovereign risk and bank-specific CDS pricing. Results from calculating relative CDS spread deviations (model minus market spreads) initially reveal a price bubble in the European CDS market until the beginning of the financial crisis in mid-2007. From this point in time the gap narrows remarkably during the financial crisis and sovereign debt crisis period. Corresponding to these findings, the empirical analysis reveals a negative impact of sovereign risk on calculated CDS spread differentials indicating a spill-over effect between sovereign risk and bank risk and hence, a positive effect on bank-specific CDS pricing. Further analyses reveal that the perception of sovereign risk is not crisis- but country-dependent suggesting that bank-specific CDS market spreads may already include a premium to cover sovereign risk from PIIGS countries during the pre-crisis period in Europe. "}],"_id":"36015","language":[{"iso":"eng"}],"publisher":"Paderborn University","user_id":"21810","author":[{"first_name":"Christian","last_name":"Meine","full_name":"Meine, Christian"},{"full_name":"Michalak, Tobias C.","first_name":"Tobias C.","last_name":"Michalak"},{"first_name":"André","last_name":"Uhde","full_name":"Uhde, André","id":"36049"}],"jel":["G01","G12","G14","G18","G21"],"status":"public","year":"2012","title":"Sovereign Risk and Bank-Specific CDS Pricing","publication_status":"published","date_updated":"2023-01-11T11:05:44Z"},{"user_id":"21810","_id":"34909","language":[{"iso":"eng"}],"date_updated":"2024-04-17T13:35:10Z","title":"Sovereign risk and bank-specific CDS pricing","status":"public","year":"2012","author":[{"id":"36049","full_name":"Uhde, André","orcid":"https://orcid.org/0000-0002-8058-8857","last_name":"Uhde","first_name":"André"},{"last_name":"Michalak","first_name":"Tobias","full_name":"Michalak, Tobias"},{"full_name":"Meine, Christian","last_name":"Meine","first_name":"Christian"}],"type":"working_paper","department":[{"_id":"19"}],"date_created":"2022-12-23T11:00:29Z","abstract":[{"lang":"eng","text":"Employing time series of single-name CDS market spreads from 29 European banks located in the\r\nEU-12 plus Switzerland and the UK over the period from January 2004 through September 2010 this paper\r\nanalyses the relationship between increasing sovereign risk and bank-specific CDS pricing. Results from\r\ncalculating relative CDS spread deviations (model minus market spreads) initially reveal a price bubble in the\r\nEuropean CDS market until the beginning of the financial crisis in mid-2007. From this point in time the gap\r\nnarrows remarkably during the financial crisis and sovereign debt crisis period. Corresponding to these findings,\r\nthe empirical analysis reveals a negative impact of sovereign risk on calculated CDS spread differentials\r\nindicating a spill-over effect between sovereign risk and bank risk and hence, a positive effect on bank-specific\r\nCDS pricing. Further analyses reveal that the perception of sovereign risk is not crisis- but country-dependent\r\nsuggesting that bank-specific CDS market spreads may already include a premium to cover sovereign risk from\r\nPIIGS countries during the pre-crisis period in Europe."}],"citation":{"ieee":"A. Uhde, T. Michalak, and C. Meine, <i>Sovereign risk and bank-specific CDS pricing</i>. 2012.","apa":"Uhde, A., Michalak, T., &#38; Meine, C. (2012). <i>Sovereign risk and bank-specific CDS pricing</i>.","mla":"Uhde, André, et al. <i>Sovereign Risk and Bank-Specific CDS Pricing</i>. 2012.","bibtex":"@book{Uhde_Michalak_Meine_2012, title={Sovereign risk and bank-specific CDS pricing}, author={Uhde, André and Michalak, Tobias and Meine, Christian}, year={2012} }","short":"A. Uhde, T. Michalak, C. Meine, Sovereign Risk and Bank-Specific CDS Pricing, 2012.","ama":"Uhde A, Michalak T, Meine C. <i>Sovereign Risk and Bank-Specific CDS Pricing</i>.; 2012.","chicago":"Uhde, André, Tobias Michalak, and Christian Meine. <i>Sovereign Risk and Bank-Specific CDS Pricing</i>, 2012."}},{"title":"Zur Neuregulierung des Bankensektors nach der Finanzkrise: Bewertung der Reformvorhaben der EU aus ordnungspolitischer Sicht","year":"2011","publication_identifier":{"isbn":["978-3828205383"]},"author":[{"last_name":"Haucap","first_name":"Justus","full_name":"Haucap, Justus"},{"full_name":"Heimeshoff, Ulrich","last_name":"Heimeshoff","first_name":"Ulrich"},{"id":"36049","orcid":"https://orcid.org/0000-0002-8058-8857","last_name":"Uhde","first_name":"André","full_name":"Uhde, André"}],"date_updated":"2022-01-06T07:01:41Z","publication_status":"published","intvolume":"        93","language":[{"iso":"ger"}],"publication":"Die aktuelle Finanzkrise: Bestandsaufnahme und Lehren für die Zukunft, Schriften zur Ordnungsfragen der Wirtschaft","abstract":[{"lang":"ger","text":"Im Zuge der in den USA durch die exzessive Vergabe von Subprime-Krediten und deren Verbriefung ausgelöste Finanzkrise und der daraus folgenden weltweiten Wirtschaftskrise hat sich gezeigt, dass das bisherige System der Regulierung bzw. Überwachung von Finanzinstitutionen nicht ausreichend ist. Sowohl in den USA als auch in der Europäischen Union wird deshalb intensiv über ein neues System zur Regulierung von Finanzinstituten nachgedacht. Es ist zwar offen-sichtlich, dass eine wesentliche Ursache der Finanzkrise in den USA die Ermunterung der Finanzinstitute durch den Staat zur Vergabe von Immobilienkrediten an nicht ausreichend solvente Konsumenten war. Die vorhandenen Regulierungsinstrumente konnten die Krise jedoch nicht verhindern bzw. ausreichen abmildern. Das vorliegende Papier setzt sich zum Ziel, die Vorschläge zur Reform der Bankenregulierung zu evaluieren und insbesondere auf ihre potenziellen Wirkungen im Hinblick auf den Wettbewerb im Bankensektor zu überprüfen.\r\n\r\nIm Zuge der Diskussion über mögliche Lösungen existieren verschiedenste Vorschläge, die von Änderungen in Rechnungslegungsvorschriften über die Neuordnung der nationalen bzw. internationalen Finanzaufsicht bis hin zu einer stärkeren Berücksichtigung systemischer Risiken gehen. Die Auswirkungen der Finanzkrise haben gezeigt, dass die Abkehr von herkömmlichen Rechnungslegungssystemen hin zu Regeln der internationalen Rechnungslegung unter dem Schlagwort „Fair Value Accounting“ durchaus Gefahren in sich bergen kann. Die Debatte dreht sich insbesondere um die Frage, ob die neuen Rechnungslegungsvorschriften maßgeblich dazu beitragen, das regulatorische Eigenkapital einer Bank in Boomphasen zu erhöhen und in konjunkturellen Schwächephasen dagegen zu senken. In der Literatur ist in Hinblick auf diese Frage bislang keine einhellige Auffassung zu identifizieren. Pellens et al. (2009) gelangen zu dem Ergebnis, dass bankenaufsichtsrechtliche Normen an das IFRS-Zahlenwerk gebunden sind und dies für regulatorische Entscheidungen als besonders kritisch zu sehen ist. Durch das Konzept des Fair-Value-Accounting wurde das regulatorische Eigenkapital im Zeitraum von 2003 bis 2007 systematisch erhöht, woraus ein gestiegener Kreditvergabespielraum resultierte. Demgegenüber kommen Laux und Leuz (2009) im Rahmen einer empirischen Studie anhand von Mikrodaten aus den USA zu dem Ergebnis, dass Fair-Value-Accounting nur zum geringen Teil zu den Problemen der US Banken beigetragen hat und es im Rahmen ihrer Studie keine Evidenz für wesentliche Effekte dieses Rechnungslegungsverfahrens auf die massiven Abschreibungen der US Banken gibt.\r\n\r\nBeide Studien betonen aber auch, dass weitere empirische Forschung notwendig ist, bevor diese Frage abschließend geklärt werden kann. Die Frage des adäquaten Rechnungslegungssystems zeigt, wie vielfältig die Ursachen der gegenwärtigen Finanzkrise sind und wie schwer tatsächliche kausale Effekte zu identifizieren sind. Im folgenden Abschnitt werden zunächst die ordnungspolitischen Rahmenbedingungen einer angemessenen Bankenregulierung dargestellt. Der dritte Abschnitt umfasst einen kurzen Überblick über den Verlauf der Finanzkrise. In Abschnitt 4 diskutieren wir die wesentlichen Vorschläge zur Optimierung der Regulierung von Finanzinstituten. Abschnitt 5 evaluiert diese Vorschläge auch aus einer wettbewerbsökonomischen Perspektive. Diese Perspektive ist aus unserer Sicht vor allen Dingen notwendig, weil eine großer Teil der Reformdebatte aus Sicht der Finanzmarktstabilität geführt wird und infolgedessen Wettbewerbseffekte vernachlässigt werden. Das Fazit in Abschnitt 6 fasst unsere Ergebnisse zusammen und gibt einen Ausblick auf weiteren Forschungsbedarf aus Sicht der Wettbewerbsökonomie."}],"extern":"1","date_created":"2018-10-31T10:24:53Z","type":"book_chapter","department":[{"_id":"186"},{"_id":"188"}],"status":"public","page":"185-208","_id":"5173","publisher":"De Gruyter Oldenbourg","user_id":"36049","editor":[{"full_name":"Michler, Albrecht F.","first_name":"Albrecht F.","last_name":"Michler"},{"first_name":"Heinz D.","last_name":"Smeets","full_name":"Smeets, Heinz D."}],"volume":93,"citation":{"bibtex":"@inbook{Haucap_Heimeshoff_Uhde_2011, place={Stuttgart}, title={Zur Neuregulierung des Bankensektors nach der Finanzkrise: Bewertung der Reformvorhaben der EU aus ordnungspolitischer Sicht}, volume={93}, booktitle={Die aktuelle Finanzkrise: Bestandsaufnahme und Lehren für die Zukunft, Schriften zur Ordnungsfragen der Wirtschaft}, publisher={De Gruyter Oldenbourg}, author={Haucap, Justus and Heimeshoff, Ulrich and Uhde, André}, editor={Michler, Albrecht F. and Smeets, Heinz D.Editors}, year={2011}, pages={185–208} }","short":"J. Haucap, U. Heimeshoff, A. Uhde, in: A.F. Michler, H.D. Smeets (Eds.), Die aktuelle Finanzkrise: Bestandsaufnahme und Lehren für die Zukunft, Schriften zur Ordnungsfragen der Wirtschaft, De Gruyter Oldenbourg, Stuttgart, 2011, pp. 185–208.","ama":"Haucap J, Heimeshoff U, Uhde A. Zur Neuregulierung des Bankensektors nach der Finanzkrise: Bewertung der Reformvorhaben der EU aus ordnungspolitischer Sicht. In: Michler AF, Smeets HD, eds. <i>Die aktuelle Finanzkrise: Bestandsaufnahme und Lehren für die Zukunft, Schriften zur Ordnungsfragen der Wirtschaft</i>. Vol 93. Stuttgart: De Gruyter Oldenbourg; 2011:185-208.","chicago":"Haucap, Justus, Ulrich Heimeshoff, and André Uhde. “Zur Neuregulierung des Bankensektors nach der Finanzkrise: Bewertung der Reformvorhaben der EU aus ordnungspolitischer Sicht.” In <i>Die aktuelle Finanzkrise: Bestandsaufnahme und Lehren für die Zukunft, Schriften zur Ordnungsfragen der Wirtschaft</i>, edited by Albrecht F. Michler and Heinz D. Smeets, 93:185–208. Stuttgart: De Gruyter Oldenbourg, 2011.","ieee":"J. Haucap, U. Heimeshoff, and A. Uhde, “Zur Neuregulierung des Bankensektors nach der Finanzkrise: Bewertung der Reformvorhaben der EU aus ordnungspolitischer Sicht,” in <i>Die aktuelle Finanzkrise: Bestandsaufnahme und Lehren für die Zukunft, Schriften zur Ordnungsfragen der Wirtschaft</i>, vol. 93, A. F. Michler and H. D. Smeets, Eds. Stuttgart: De Gruyter Oldenbourg, 2011, pp. 185–208.","mla":"Haucap, Justus, et al. “Zur Neuregulierung des Bankensektors nach der Finanzkrise: Bewertung der Reformvorhaben der EU aus ordnungspolitischer Sicht.” <i>Die aktuelle Finanzkrise: Bestandsaufnahme und Lehren für die Zukunft, Schriften zur Ordnungsfragen der Wirtschaft</i>, edited by Albrecht F. Michler and Heinz D. Smeets, vol. 93, De Gruyter Oldenbourg, 2011, pp. 185–208.","apa":"Haucap, J., Heimeshoff, U., &#38; Uhde, A. (2011). Zur Neuregulierung des Bankensektors nach der Finanzkrise: Bewertung der Reformvorhaben der EU aus ordnungspolitischer Sicht. In A. F. Michler &#38; H. D. Smeets (Eds.), <i>Die aktuelle Finanzkrise: Bestandsaufnahme und Lehren für die Zukunft, Schriften zur Ordnungsfragen der Wirtschaft</i> (Vol. 93, pp. 185–208). Stuttgart: De Gruyter Oldenbourg."},"place":"Stuttgart"},{"abstract":[{"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. ","lang":"eng"}],"citation":{"short":"T.C. Michalak, A. Uhde, The Nexus between Monetary Policy, Banking Market Structure and Bank Risk Taking, Paderborn University, 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.","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} }","ama":"Michalak TC, Uhde A. <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."},"keyword":["risk-taking channel","competition","concentration","bank soundness","European banking"],"type":"working_paper","department":[{"_id":"186"},{"_id":"188"}],"date_created":"2023-01-11T11:04:30Z","date_updated":"2024-04-17T13:35:15Z","publication_status":"published","year":"2011","status":"public","title":"The Nexus between Monetary Policy, Banking Market Structure and Bank Risk Taking","jel":["E43","E44","E52","G01","G28"],"author":[{"full_name":"Michalak, Tobias C.","first_name":"Tobias C.","last_name":"Michalak"},{"full_name":"Uhde, André","last_name":"Uhde","first_name":"André","id":"36049"}],"user_id":"21810","_id":"36021","publisher":"Paderborn University","language":[{"iso":"eng"}]},{"date_created":"2022-12-23T11:04:40Z","type":"report","department":[{"_id":"19"},{"_id":"186"},{"_id":"188"}],"citation":{"mla":"Uhde, André, et al. <i>Ökonomische Möglichkeiten Und Auswirkungen von Wettbewerb Bei Zentralverwahrern Für Bundeswertpapiere. Gutachten Im Auftrag Des Bundesministeriums Für Finanzen (BMF). Gutachten Fg 1/10 </i>. 2011.","ama":"Uhde A, Haucap J, Heimeshoff U. <i>Ökonomische Möglichkeiten Und Auswirkungen von Wettbewerb Bei Zentralverwahrern Für Bundeswertpapiere. Gutachten Im Auftrag Des Bundesministeriums Für Finanzen (BMF). Gutachten Fg 1/10 </i>.; 2011.","bibtex":"@book{Uhde_Haucap_Heimeshoff_2011, title={Ökonomische Möglichkeiten und Auswirkungen von Wettbewerb bei Zentralverwahrern für Bundeswertpapiere. Gutachten im Auftrag des Bundesministeriums für Finanzen (BMF). Gutachten fg 1/10 }, author={Uhde, André and Haucap, Justus and Heimeshoff, Ulrich}, year={2011} }","apa":"Uhde, A., Haucap, J., &#38; Heimeshoff, U. (2011). <i>Ökonomische Möglichkeiten und Auswirkungen von Wettbewerb bei Zentralverwahrern für Bundeswertpapiere. Gutachten im Auftrag des Bundesministeriums für Finanzen (BMF). Gutachten fg 1/10 </i>.","ieee":"A. Uhde, J. Haucap, and U. Heimeshoff, <i>Ökonomische Möglichkeiten und Auswirkungen von Wettbewerb bei Zentralverwahrern für Bundeswertpapiere. Gutachten im Auftrag des Bundesministeriums für Finanzen (BMF). Gutachten fg 1/10 </i>. 2011.","chicago":"Uhde, André, Justus Haucap, and Ulrich Heimeshoff. <i>Ökonomische Möglichkeiten Und Auswirkungen von Wettbewerb Bei Zentralverwahrern Für Bundeswertpapiere. Gutachten Im Auftrag Des Bundesministeriums Für Finanzen (BMF). Gutachten Fg 1/10 </i>, 2011.","short":"A. Uhde, J. Haucap, U. Heimeshoff, Ökonomische Möglichkeiten Und Auswirkungen von Wettbewerb Bei Zentralverwahrern Für Bundeswertpapiere. Gutachten Im Auftrag Des Bundesministeriums Für Finanzen (BMF). Gutachten Fg 1/10 , 2011."},"_id":"34914","language":[{"iso":"eng"}],"user_id":"21810","year":"2011","status":"public","title":"Ökonomische Möglichkeiten und Auswirkungen von Wettbewerb bei Zentralverwahrern für Bundeswertpapiere. Gutachten im Auftrag des Bundesministeriums für Finanzen (BMF). Gutachten fg 1/10 ","author":[{"id":"36049","full_name":"Uhde, André","last_name":"Uhde","orcid":"https://orcid.org/0000-0002-8058-8857","first_name":"André"},{"first_name":"Justus","last_name":"Haucap","full_name":"Haucap, Justus"},{"last_name":"Heimeshoff","first_name":"Ulrich","full_name":"Heimeshoff, Ulrich"}],"date_updated":"2023-01-18T09:37:33Z"},{"date_updated":"2023-01-18T09:40:38Z","author":[{"id":"36049","full_name":"Uhde, André","orcid":"https://orcid.org/0000-0002-8058-8857","last_name":"Uhde","first_name":"André"},{"full_name":"Michalak, Tobias","last_name":"Michalak","first_name":"Tobias"}],"status":"public","year":"2011","title":"The nexus between monetary policy, banking market structures and bank risk-taking","user_id":"21810","_id":"34910","language":[{"iso":"eng"}],"abstract":[{"text":"Using a sample of stock-listed bank holding companies located in Western Europe over the period from 1997 to 2008\r\nthis paper provides empirical evidence that an increase in short-term interest rates as well as an extended period of\r\nexpansionary monetary policy has a negative impact on European stock-listed banks’ soundness as measured by the\r\nExpected Default Frequency. Against this background and in order to evaluate interactions between the risk-taking\r\nchannel of monetary policy and the competitiveness of a country’s banking market we find a negative impact of an\r\nincrease in competition in the loan market – proxied by the Boone-indicator – on financial soundness. Referring to the\r\nstructural-conduct performance (SCP) paradigm, this paper provides further evidence that an increase in concentration\r\nin the banking market spurs financial soundness.","lang":"eng"}],"citation":{"mla":"Uhde, André, and Tobias Michalak. <i>The Nexus between Monetary Policy, Banking Market Structures and Bank Risk-Taking</i>. 2011.","bibtex":"@book{Uhde_Michalak_2011, title={The nexus between monetary policy, banking market structures and bank risk-taking}, author={Uhde, André and Michalak, Tobias}, year={2011} }","ama":"Uhde A, Michalak T. <i>The Nexus between Monetary Policy, Banking Market Structures and Bank Risk-Taking</i>.; 2011.","ieee":"A. Uhde and T. Michalak, <i>The nexus between monetary policy, banking market structures and bank risk-taking</i>. 2011.","apa":"Uhde, A., &#38; Michalak, T. (2011). <i>The nexus between monetary policy, banking market structures and bank risk-taking</i>.","chicago":"Uhde, André, and Tobias Michalak. <i>The Nexus between Monetary Policy, Banking Market Structures and Bank Risk-Taking</i>, 2011.","short":"A. Uhde, T. Michalak, The Nexus between Monetary Policy, Banking Market Structures and Bank Risk-Taking, 2011."},"department":[{"_id":"19"},{"_id":"186"},{"_id":"188"}],"type":"working_paper","date_created":"2022-12-23T11:02:00Z"},{"doi":"https://doi.org/10.1007/s10273-010-1031-7","language":[{"iso":"ger"}],"date_updated":"2023-01-10T09:32:58Z","publication_status":"published","publication_identifier":{"issn":["0043-6275"]},"author":[{"last_name":"Paul","first_name":"Stephan","full_name":"Paul, Stephan"},{"id":"36049","first_name":"André","last_name":"Uhde","orcid":"https://orcid.org/0000-0002-8058-8857","full_name":"Uhde, André"}],"year":"2010","title":"Einheitlicher europäischer Bankenmarkt? Eine Einschätzung der Wettbewerbssituation vor und nach der Finanzkrise","department":[{"_id":"186"},{"_id":"188"}],"keyword":["Finanz- und Wirtschaftskrise","Bankenmarkt"],"type":"journal_article","date_created":"2018-09-14T12:57:42Z","abstract":[{"text":"Die schwerste Finanz- und Wirtschaftskrise nach dem Zweiten Weltkrieg befindet sich nun schon in ihrem dritten Jahr und wird in weiten Teilen der Öffentlichkeit als Paradebeispiel für ein gravierendes Marktversagen eingestuft. Dies hat über die unmittelbaren staatlichen Rettungsmaßnahmen hinaus den Ruf nach \"Mehr Staat in der Kreditwirtschaft!\" verstärkt und vielfältige Vorschläge zur Ausweitung und Verschärfung der Beaufsichtigung der Banken hervorgerufen (zuletzt im September 2009 beim Finanzgipfel in Pittsburgh). Noch lässt sich nicht präzise genug abschätzen, welche staatlichen Hilfen für die Kreditwirtschaft erforderlich sein werden und welche Veränderungen in der Bankenregulierung noch vorgenommen werden müssen. Dennoch wird in diesem Beitrag der Versuch einer Skizze möglicher Auswirkungen auf die Wettbewerbssituation des europäischen und deutschen Bankenmarktes speziell im Retail-Segment unternommen. Um die durch die Finanzkrise hervorgerufenen Veränderungen einschätzen zu können, ist jedoch zunächst ein kurzer Blick auf die wichtigsten Etappen und Ergebnisse der europäischen Finanzmarktintegration erforderlich.","lang":"ger"}],"extern":"1","publication":"Wirtschaftsdienst","volume":"Heft 13","user_id":"21810","_id":"4405","publisher":"Springer Verlag","page":"26-34","jel":["G"],"status":"public","citation":{"apa":"Paul, S., &#38; Uhde, A. (2010). Einheitlicher europäischer Bankenmarkt? Eine Einschätzung der Wettbewerbssituation vor und nach der Finanzkrise. <i>Wirtschaftsdienst</i>, <i>Heft 13</i>, 26–34. <a href=\"https://doi.org/10.1007/s10273-010-1031-7\">https://doi.org/10.1007/s10273-010-1031-7</a>","ieee":"S. Paul and A. Uhde, “Einheitlicher europäischer Bankenmarkt? Eine Einschätzung der Wettbewerbssituation vor und nach der Finanzkrise,” <i>Wirtschaftsdienst</i>, vol. Heft 13, pp. 26–34, 2010, doi: <a href=\"https://doi.org/10.1007/s10273-010-1031-7\">https://doi.org/10.1007/s10273-010-1031-7</a>.","short":"S. Paul, A. Uhde, Wirtschaftsdienst Heft 13 (2010) 26–34.","chicago":"Paul, Stephan, and André Uhde. “Einheitlicher europäischer Bankenmarkt? Eine Einschätzung der Wettbewerbssituation vor und nach der Finanzkrise.” <i>Wirtschaftsdienst</i> Heft 13 (2010): 26–34. <a href=\"https://doi.org/10.1007/s10273-010-1031-7\">https://doi.org/10.1007/s10273-010-1031-7</a>.","mla":"Paul, Stephan, and André Uhde. “Einheitlicher europäischer Bankenmarkt? Eine Einschätzung der Wettbewerbssituation vor und nach der Finanzkrise.” <i>Wirtschaftsdienst</i>, vol. Heft 13, Springer Verlag, 2010, pp. 26–34, doi:<a href=\"https://doi.org/10.1007/s10273-010-1031-7\">https://doi.org/10.1007/s10273-010-1031-7</a>.","ama":"Paul S, Uhde A. Einheitlicher europäischer Bankenmarkt? Eine Einschätzung der Wettbewerbssituation vor und nach der Finanzkrise. <i>Wirtschaftsdienst</i>. 2010;Heft 13:26-34. doi:<a href=\"https://doi.org/10.1007/s10273-010-1031-7\">https://doi.org/10.1007/s10273-010-1031-7</a>","bibtex":"@article{Paul_Uhde_2010, title={Einheitlicher europäischer Bankenmarkt? Eine Einschätzung der Wettbewerbssituation vor und nach der Finanzkrise}, volume={Heft 13}, DOI={<a href=\"https://doi.org/10.1007/s10273-010-1031-7\">https://doi.org/10.1007/s10273-010-1031-7</a>}, journal={Wirtschaftsdienst}, publisher={Springer Verlag}, author={Paul, Stephan and Uhde, André}, year={2010}, pages={26–34} }"}},{"publication":"Journal of Banking & Finance","issue":"12","abstract":[{"lang":"eng","text":"Using a unique dataset of 592 cash and synthetic securitizations issued by 54 banks from the EU-15 plus Switzerland over the period from 1997 to 2007 this paper provides empirical evidence that credit risk securitization has a positive impact on the increase of European banks’ systematic risk. Baseline results hold when comparing estimated beta coefficients with a control group of similar non-securitizing banks. Building several sub-samples we additionally find that (a) the increase in systematic risk is more relevant for larger banks that repeatedly engage in securitization, (b) securitization is more important for small and medium financial institutions, (c) banks have a higher incentive to retain the larger part of credit risk as a quality signal at the beginning of the securitization business in Europe, and (d) the overall risk-shifting effect due to securitization is more distinct when the pre-event systematic risk is low."}],"extern":"1","date_created":"2018-09-14T12:48:35Z","type":"journal_article","keyword":["Credit risk transfer","Securitization","Systematic risk","Event study"],"department":[{"_id":"186"},{"_id":"188"}],"title":"Securitization and systematic risk in European banking: Empirical evidence","year":"2010","author":[{"id":"36049","orcid":"https://orcid.org/0000-0002-8058-8857","first_name":"André","last_name":"Uhde","full_name":"Uhde, André"},{"first_name":"Tobias C.","last_name":"Michalak","full_name":"Michalak, Tobias C."}],"date_updated":"2023-01-10T09:35:58Z","intvolume":"        34","language":[{"iso":"eng"}],"doi":"https://doi.org/10.1016/j.jbankfin.2010.07.012","citation":{"mla":"Uhde, André, and Tobias C. Michalak. “Securitization and Systematic Risk in European Banking: Empirical Evidence.” <i>Journal of Banking &#38; Finance</i>, vol. 34, no. 12, 2010, pp. 3061–77, doi:<a href=\"https://doi.org/10.1016/j.jbankfin.2010.07.012\">https://doi.org/10.1016/j.jbankfin.2010.07.012</a>.","bibtex":"@article{Uhde_Michalak_2010, title={Securitization and systematic risk in European banking: Empirical evidence}, volume={34}, DOI={<a href=\"https://doi.org/10.1016/j.jbankfin.2010.07.012\">https://doi.org/10.1016/j.jbankfin.2010.07.012</a>}, number={12}, journal={Journal of Banking &#38; Finance}, author={Uhde, André and Michalak, Tobias C.}, year={2010}, pages={3061–3077} }","ama":"Uhde A, Michalak TC. Securitization and systematic risk in European banking: Empirical evidence. <i>Journal of Banking &#38; Finance</i>. 2010;34(12):3061-3077. doi:<a href=\"https://doi.org/10.1016/j.jbankfin.2010.07.012\">https://doi.org/10.1016/j.jbankfin.2010.07.012</a>","ieee":"A. Uhde and T. C. Michalak, “Securitization and systematic risk in European banking: Empirical evidence,” <i>Journal of Banking &#38; Finance</i>, vol. 34, no. 12, pp. 3061–3077, 2010, doi: <a href=\"https://doi.org/10.1016/j.jbankfin.2010.07.012\">https://doi.org/10.1016/j.jbankfin.2010.07.012</a>.","apa":"Uhde, A., &#38; Michalak, T. C. (2010). Securitization and systematic risk in European banking: Empirical evidence. <i>Journal of Banking &#38; Finance</i>, <i>34</i>(12), 3061–3077. <a href=\"https://doi.org/10.1016/j.jbankfin.2010.07.012\">https://doi.org/10.1016/j.jbankfin.2010.07.012</a>","short":"A. Uhde, T.C. Michalak, Journal of Banking &#38; Finance 34 (2010) 3061–3077.","chicago":"Uhde, André, and Tobias C. Michalak. “Securitization and Systematic Risk in European Banking: Empirical Evidence.” <i>Journal of Banking &#38; Finance</i> 34, no. 12 (2010): 3061–77. <a href=\"https://doi.org/10.1016/j.jbankfin.2010.07.012\">https://doi.org/10.1016/j.jbankfin.2010.07.012</a>."},"status":"public","jel":["G14","G21","G28","G32"],"page":"3061-3077","_id":"4404","user_id":"21810","volume":34},{"jel":["G21","G28","G34","L16"],"status":"public","_id":"4406","page":"1299-1311","volume":33,"user_id":"21810","citation":{"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} }","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>","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>.","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>.","short":"A. Uhde, U. Heimeshoff, Journal of Banking &#38; Finance 33 (2009) 1299–1311.","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>.","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>"},"author":[{"id":"36049","orcid":"https://orcid.org/0000-0002-8058-8857","last_name":"Uhde","first_name":"André","full_name":"Uhde, André"},{"full_name":"Heimeshoff, Ulrich","first_name":"Ulrich","last_name":"Heimeshoff"}],"title":"Consolidation in banking and financial stability in Europe: Empirical evidence","year":"2009","intvolume":"        33","date_updated":"2023-01-10T09:36:22Z","publication_status":"published","language":[{"iso":"eng"}],"doi":"https://doi.org/10.1016/j.jbankfin.2009.01.006","issue":"7","publication":"Journal of Banking & Finance","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."}],"extern":"1","date_created":"2018-09-14T13:02:19Z","department":[{"_id":"186"},{"_id":"188"}],"type":"journal_article","keyword":["Market structure","Financial stability","Banking regulation"]},{"page":"15-21","_id":"5177","language":[{"iso":"ger"}],"user_id":"21810","title":"Trennung von Netz und Betrieb als Königsweg? Pfadabhängigkeiten der Regulierung","year":"2008","status":"public","corporate_editor":["Wettbewerb und Investitionen in der Netzindustrie"],"author":[{"full_name":"Haucap, Justus","last_name":"Haucap","first_name":"Justus"},{"full_name":"Heimeshoff, Ulrich","first_name":"Ulrich","last_name":"Heimeshoff"},{"full_name":"Uhde, André","last_name":"Uhde","first_name":"André","orcid":"https://orcid.org/0000-0002-8058-8857","id":"36049"}],"publication_status":"published","date_updated":"2022-01-06T07:01:41Z","date_created":"2018-10-31T10:32:05Z","place":"Berlin","type":"book_chapter","department":[{"_id":"186"},{"_id":"188"}],"publication":"BDI-Bundesnetzagentur-Regulierungskonferenz 2008","citation":{"ieee":"J. Haucap, U. Heimeshoff, and A. Uhde, “Trennung von Netz und Betrieb als Königsweg? Pfadabhängigkeiten der Regulierung,” in <i>BDI-Bundesnetzagentur-Regulierungskonferenz 2008</i>, Wettbewerb und Investitionen in der Netzindustrie, Ed. Berlin, 2008, pp. 15–21.","apa":"Haucap, J., Heimeshoff, U., &#38; Uhde, A. (2008). Trennung von Netz und Betrieb als Königsweg? Pfadabhängigkeiten der Regulierung. In Wettbewerb und Investitionen in der Netzindustrie (Ed.), <i>BDI-Bundesnetzagentur-Regulierungskonferenz 2008</i> (pp. 15–21). Berlin.","chicago":"Haucap, Justus, Ulrich Heimeshoff, and André Uhde. “Trennung von Netz und Betrieb als Königsweg? Pfadabhängigkeiten der Regulierung.” In <i>BDI-Bundesnetzagentur-Regulierungskonferenz 2008</i>, edited by Wettbewerb und Investitionen in der Netzindustrie, 15–21. Berlin, 2008.","short":"J. Haucap, U. Heimeshoff, A. Uhde, in: Wettbewerb und Investitionen in der Netzindustrie (Ed.), BDI-Bundesnetzagentur-Regulierungskonferenz 2008, Berlin, 2008, pp. 15–21.","mla":"Haucap, Justus, et al. “Trennung von Netz und Betrieb als Königsweg? Pfadabhängigkeiten der Regulierung.” <i>BDI-Bundesnetzagentur-Regulierungskonferenz 2008</i>, edited by Wettbewerb und Investitionen in der Netzindustrie, 2008, pp. 15–21.","bibtex":"@inbook{Haucap_Heimeshoff_Uhde_2008, place={Berlin}, title={Trennung von Netz und Betrieb als Königsweg? Pfadabhängigkeiten der Regulierung}, booktitle={BDI-Bundesnetzagentur-Regulierungskonferenz 2008}, author={Haucap, Justus and Heimeshoff, Ulrich and Uhde, André}, editor={Wettbewerb und Investitionen in der NetzindustrieEditor}, year={2008}, pages={15–21} }","ama":"Haucap J, Heimeshoff U, Uhde A. Trennung von Netz und Betrieb als Königsweg? Pfadabhängigkeiten der Regulierung. In: Wettbewerb und Investitionen in der Netzindustrie, ed. <i>BDI-Bundesnetzagentur-Regulierungskonferenz 2008</i>. Berlin; 2008:15-21."},"extern":"1","abstract":[{"text":"Die Trennung von Netz und Betrieb steht nicht nur im Zentrum der politischen Debatte der Energiewirtschaft. Auch im Bahnsektor ist die Privatisierung mit oder ohne Netz ein heiß diskutiertes Thema. Und selbst in der Telekommunikation strebt die EU-Kommission eine weitgehende Entflechtung an. Der vorliegende Beitrag entwickelt anhand von ökonomischen Kriterien ein ideologiefreies Prüfschema, wann eine Entflechtung von Netz und Betrieb gesamtwirtschaftlich vorteilhaft ist und wann nicht. ","lang":"ger"}]},{"doi":"https://doi.org/10.1515/ordo-2008-0113","language":[{"iso":"ger"}],"publication_status":"published","date_updated":"2022-12-23T11:23:26Z","intvolume":"        59","year":"2008","title":"Regulierung und Wettbewerbsrecht in liberalisierten Netzindustrien aus institutionenökonomischer Perspektive","author":[{"full_name":"Haucap, Justus","first_name":"Justus","last_name":"Haucap"},{"orcid":"https://orcid.org/0000-0002-8058-8857","last_name":"Uhde","first_name":"André","full_name":"Uhde, André","id":"36049"}],"publication_identifier":{"issn":["2366-0481","0048-2129"]},"type":"book_chapter","department":[{"_id":"186"},{"_id":"188"}],"date_created":"2018-10-31T13:31:37Z","extern":"1","abstract":[{"text":"Sowohl die Telekommunikationsbranche als auch die Elektrizitätswirtschaft haben in den vergangenen 10 Jahren in Kontinentaleuropa einen drastischen Wandel ihres ordnungspolitischen Rahmens erlebt. Während sich jedoch in der Telekommunikation die Ausgestaltung des ordnungspolitischen Rahmens und auch die konkrete Regulierung in\r\nden verschiedenen EU-Mitgliedstaaten mittlerweile relativ stark angeglichen haben bzw. diese angeglichen wurden (vgl. Kiesewetter 2007), ist die Regulierung der Energiewirtschaft und somit auch der Liberalisierungsgrad zwischen den EU-Mitgliedstaaten noch sehr unterschiedlich (vgl. Hense und Schäffner 2004; London Economics 2007). Diese bis heute andauernde Heterogenität von Regulierungsregeln im Bereich der Elektrizitätswirtschaft resultiert einerseits aus den unterschiedlichen historischen Gegebenheiten, und andererseits auch aus der im Jahre 1997 erlassenen Strombinnenmarktrichtlinie (1996/92/EG), welche den EU-Mitgliedstaaten zunächst nur eine schrittweise Einführung des Wettbewerbs auf den Energiemärkten vorgeschrieben hat. In diesem Zuge ist es den einzelnen Mitgliedstaaten selbst überlassen worden, ihre Märkte ggf. über das Maß der vorgegebenen Mindestanforderungen hinaus für den\r\nWettbewerb zu öffnen. Auch in der konkreten Ausgestaltung des ordnungspolitischen Rahmens wurde den Mitgliedstaaten zunächst relativ weitgehende Freiheiten zugestanden [...]","lang":"ger"}],"publication":"Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft","user_id":"36049","volume":59,"page":"237-262","_id":"5213","status":"public","citation":{"mla":"Haucap, Justus, and André Uhde. “Regulierung und Wettbewerbsrecht in liberalisierten Netzindustrien aus institutionenökonomischer Perspektive.” <i>Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft</i>, vol. 59, 2008, pp. 237–62, doi:<a href=\"https://doi.org/10.1515/ordo-2008-0113\">https://doi.org/10.1515/ordo-2008-0113</a>.","ama":"Haucap J, Uhde A. Regulierung und Wettbewerbsrecht in liberalisierten Netzindustrien aus institutionenökonomischer Perspektive. In: <i>Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft</i>. Vol 59. ; 2008:237-262. doi:<a href=\"https://doi.org/10.1515/ordo-2008-0113\">https://doi.org/10.1515/ordo-2008-0113</a>","bibtex":"@inbook{Haucap_Uhde_2008, title={Regulierung und Wettbewerbsrecht in liberalisierten Netzindustrien aus institutionenökonomischer Perspektive}, volume={59}, DOI={<a href=\"https://doi.org/10.1515/ordo-2008-0113\">https://doi.org/10.1515/ordo-2008-0113</a>}, booktitle={Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft}, author={Haucap, Justus and Uhde, André}, year={2008}, pages={237–262} }","apa":"Haucap, J., &#38; Uhde, A. (2008). Regulierung und Wettbewerbsrecht in liberalisierten Netzindustrien aus institutionenökonomischer Perspektive. In <i>Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft</i> (Vol. 59, pp. 237–262). <a href=\"https://doi.org/10.1515/ordo-2008-0113\">https://doi.org/10.1515/ordo-2008-0113</a>","ieee":"J. Haucap and A. Uhde, “Regulierung und Wettbewerbsrecht in liberalisierten Netzindustrien aus institutionenökonomischer Perspektive,” in <i>Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft</i>, vol. 59, 2008, pp. 237–262.","short":"J. Haucap, A. Uhde, in: Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, 2008, pp. 237–262.","chicago":"Haucap, Justus, and André Uhde. “Regulierung und Wettbewerbsrecht in liberalisierten Netzindustrien aus institutionenökonomischer Perspektive.” In <i>Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft</i>, 59:237–62, 2008. <a href=\"https://doi.org/10.1515/ordo-2008-0113\">https://doi.org/10.1515/ordo-2008-0113</a>."}},{"author":[{"last_name":"Paul","first_name":"Stephan","full_name":"Paul, Stephan"},{"first_name":"Stefan","last_name":"Stein","full_name":"Stein, Stefan"},{"id":"36049","full_name":"Uhde, André","first_name":"André","orcid":"https://orcid.org/0000-0002-8058-8857","last_name":"Uhde"}],"year":"2008","title":"Measuring the relationship between supervisory authorities and banks: An assessment of the German banking sector","intvolume":"         2","date_updated":"2023-01-10T09:36:51Z","publication_status":"published","language":[{"iso":"eng"}],"issue":"1","publication":"Journal of Risk Managment in Financial Institutions","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. "}],"extern":"1","date_created":"2018-09-14T13:08:39Z","department":[{"_id":"186"},{"_id":"188"}],"type":"journal_article","keyword":["banking supervision","quality","assessment","banking sector"],"jel":["G21","G28"],"status":"public","_id":"4407","page":"69-87","volume":2,"user_id":"21810","citation":{"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.","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.","short":"S. Paul, S. Stein, A. Uhde, Journal of Risk Managment in Financial Institutions 2 (2008) 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.","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.","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} }","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."}}]