--- _id: '34802' abstract: - lang: eng text: "Employing data on 3,943 banks from the EU-15 between 2013 and 2020, this paper empirically\r\nanalyzes the relationship between banking market consolidation, market power and banking stability,\r\nseparately for the loan and deposit market. We initially find that European banks follow a loss-leader pricing\r\nstrategy and cross-subsidize between both markets. In addition, it is observed that the empirical link\r\nbetween consolidation and market power is weak and thus, provokes diametral findings. Investigating the\r\nconditionality of consolidation and market power further reveals that, although the negative impact of\r\nconsolidation on stability is reduced, it is not fully crowded out, even if banks exhibit stronger market power\r\nin the loan and deposit market. Analyzing likely impact channels, different determinants of bank distress\r\nas well as effects from the lower bound and negative interest rates regime provides further important\r\ninsights." 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. apa: Herwald, S., Voigt, S., & Uhde, A. (n.d.). The conditional impact of market consolidation and market power on banking stability – Evidence from Europe. bibtex: '@book{Herwald_Voigt_Uhde, title={The conditional impact of market consolidation and market power on banking stability – Evidence from Europe}, author={Herwald, Sarah and Voigt, Simone and Uhde, André} }' chicago: Herwald, Sarah, Simone Voigt, and André Uhde. The Conditional Impact of Market Consolidation and Market Power on Banking Stability – Evidence from Europe, n.d. ieee: S. Herwald, S. Voigt, and A. Uhde, The conditional impact of market consolidation and market power on banking stability – Evidence from Europe. . mla: Herwald, Sarah, et al. The Conditional Impact of Market Consolidation and Market Power on Banking Stability – Evidence from Europe. short: S. Herwald, S. Voigt, A. Uhde, The Conditional Impact of Market Consolidation and Market Power on Banking Stability – Evidence from Europe, n.d. date_created: 2022-12-22T07:28:25Z date_updated: 2023-11-17T10:24:04Z department: - _id: '186' - _id: '188' language: - iso: eng publication_status: unpublished status: public title: The conditional impact of market consolidation and market power on banking stability – Evidence from Europe type: working_paper user_id: '36049' year: '2023' ... --- _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. The Quarterly Review of Economics and Finance. 2022;Vol. 86 (11):48-64. doi:https://doi.org/10.1016/j.qref.2022.06.005 apa: Wengerek, S. T., Hippert, B., & Uhde, A. (2022). Risk allocation through securitization – Evidence from non-performing loans. The Quarterly Review of Economics and Finance, Vol. 86 (11), 48–64. https://doi.org/10.1016/j.qref.2022.06.005 bibtex: '@article{Wengerek_Hippert_Uhde_2022, title={Risk allocation through securitization – Evidence from non-performing loans}, volume={Vol. 86 (11)}, DOI={https://doi.org/10.1016/j.qref.2022.06.005}, 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.” The Quarterly Review of Economics and Finance Vol. 86 (11) (2022): 48–64. https://doi.org/10.1016/j.qref.2022.06.005.' ieee: 'S. T. Wengerek, B. Hippert, and A. Uhde, “Risk allocation through securitization – Evidence from non-performing loans,” The Quarterly Review of Economics and Finance, vol. Vol. 86 (11), pp. 48–64, 2022, doi: https://doi.org/10.1016/j.qref.2022.06.005.' mla: Wengerek, Sascha Tobias, et al. “Risk Allocation through Securitization – Evidence from Non-Performing Loans.” The Quarterly Review of Economics and Finance, vol. Vol. 86 (11), Elsevier, 2022, pp. 48–64, doi:https://doi.org/10.1016/j.qref.2022.06.005. 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: '35992' abstract: - lang: eng text: 'In this paper new semiparametric generalized autoregressive conditional heteroscedasticity (GARCH) models with long memory are introduced. A multiplicative decomposition of the volatility into a conditional component and an unconditional component is assumed. The estimation of the latter is carried out by means of a data-driven local polynomial smoother. According to the revised recommendations by the Basel Committee on Banking Supervision to measure market risk in the banks’ trading books, these new semiparametric GARCH models are applied to obtain rolling one-step ahead forecasts for the value-at-risk and expected shortfall (ES) for market risk assets. Standard regulatory traffic-light tests and a newly introduced traffic-light test for the ES are carried out for all models. In addition, model performance is assessed via a recently introduced model selection criterion. The practical relevance of our proposal is demonstrated by a comparative study. Our results indicate that semiparametric long-memory GARCH models are a meaningful substitute for their conventional, parametric counterparts. ' article_type: original 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 citation: ama: Letmathe S, Feng Y, Uhde A. Semiparametric GARCH models with long memory applied to Value at Risk and Expected Shortfall. Journal of Risk. 25(2). apa: Letmathe, S., Feng, Y., & Uhde, A. (n.d.). Semiparametric GARCH models with long memory applied to Value at Risk and Expected Shortfall. Journal of Risk, 25(2). bibtex: '@article{Letmathe_Feng_Uhde, title={Semiparametric GARCH models with long memory applied to Value at Risk and Expected Shortfall}, volume={25}, number={2}, 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.” Journal of Risk 25, no. 2 (n.d.). ieee: S. Letmathe, Y. Feng, and A. Uhde, “Semiparametric GARCH models with long memory applied to Value at Risk and Expected Shortfall,” Journal of Risk, vol. 25, no. 2. mla: Letmathe, Sebastian, et al. “Semiparametric GARCH Models with Long Memory Applied to Value at Risk and Expected Shortfall.” Journal of Risk, vol. 25, no. 2. short: S. Letmathe, Y. Feng, A. Uhde, Journal of Risk 25 (n.d.). date_created: 2023-01-11T10:50:27Z date_updated: 2023-11-17T10:26:36Z department: - _id: '186' - _id: '188' intvolume: ' 25' issue: '2' keyword: - long memory - generalized autoregressive conditional heteroscedasticity (GARCH) models - value-at-risk (VaR) - expected shortfall (ES) - traffic-light test - backtesting 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' volume: 25 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. The Quarterly Review of Economics and Finance. 2021;79:411-421. doi:10.1016/j.qref.2020.07.008 apa: Uhde, A. (2021). Tax avoidance through securitization. The Quarterly Review of Economics and Finance, 79, 411–421. https://doi.org/10.1016/j.qref.2020.07.008 bibtex: '@article{Uhde_2021, title={Tax avoidance through securitization}, volume={79}, DOI={10.1016/j.qref.2020.07.008}, journal={The Quarterly Review of Economics and Finance}, author={Uhde, André}, year={2021}, pages={411–421} }' chicago: 'Uhde, André. “Tax Avoidance through Securitization.” The Quarterly Review of Economics and Finance 79 (2021): 411–21. https://doi.org/10.1016/j.qref.2020.07.008.' ieee: A. Uhde, “Tax avoidance through securitization,” The Quarterly Review of Economics and Finance, vol. 79, pp. 411–421, 2021. mla: Uhde, André. “Tax Avoidance through Securitization.” The Quarterly Review of Economics and Finance, vol. 79, 2021, pp. 411–21, doi:10.1016/j.qref.2020.07.008. 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: '36060' abstract: - lang: eng text: 'Merging a sample of 492 merger and acquisition (M&A) announcements from 284 acquiring firms across Europe and North America with data from 5-year single-name credit default swaps (CDSs) written on stock-listed acquiring firms between 2005 and 2018, the paper at hand empirically analyzes the CDS investors’ risk perceptions of M&A announcements using event study methodologies. As a baseline result, we provide evidence for significantly positive cumulative average abnormal CDS spread changes for both, European and North American acquirers suggesting that CDS investors perceive an increase in the acquiring firms’ credit risk exposures due to M&A announcements. Our baseline finding holds under several robustness checks, especially when controlling for the robustness of the empirical design. Moreover, results from a large variety of sensitivity analyses reveal a number of deal and firm characteristics that may explain why CDS investors from our sample expect an increase in the acquirers’ credit risk exposures due to forthcoming M&A transactions. ' author: - first_name: Benjamin full_name: Hippert, Benjamin last_name: Hippert - first_name: André full_name: Uhde, André id: '36049' last_name: Uhde citation: ama: Hippert B, Uhde A. CDS Investors’ Risk Perceptions of M&A Announcements. apa: Hippert, B., & Uhde, A. (n.d.). CDS Investors’ Risk Perceptions of M&A Announcements. bibtex: '@book{Hippert_Uhde, title={CDS Investors’ Risk Perceptions of M&A Announcements}, author={Hippert, Benjamin and Uhde, André} }' chicago: Hippert, Benjamin, and André Uhde. CDS Investors’ Risk Perceptions of M&A Announcements, n.d. ieee: B. Hippert and A. Uhde, CDS Investors’ Risk Perceptions of M&A Announcements. . mla: Hippert, Benjamin, and André Uhde. CDS Investors’ Risk Perceptions of M&A Announcements. short: B. Hippert, A. Uhde, CDS Investors’ Risk Perceptions of M&A Announcements, n.d. date_created: 2023-01-11T11:31:54Z date_updated: 2023-11-17T10:23:54Z department: - _id: '186' - _id: '188' jel: - G14 - G34 keyword: - credit default swaps - risk perception of CDS investors - mergers and acquisitions - event study language: - iso: eng publication_status: unpublished status: public title: CDS Investors’ Risk Perceptions of M&A Announcements type: working_paper user_id: '36049' 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. Determinants of CDS Trading on Major Banks. apa: Hippert, B., Uhde, A., & Wengerek, S. T. (n.d.). Determinants of CDS Trading on Major Banks. 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. Determinants of CDS Trading on Major Banks, n.d. ieee: B. Hippert, A. Uhde, and S. T. Wengerek, Determinants of CDS Trading on Major Banks. . mla: Hippert, Benjamin, et al. Determinants of CDS Trading on Major Banks. 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: '34593' author: - first_name: Oliver full_name: Mehring, Oliver last_name: Mehring - first_name: Per full_name: Olsson, Per last_name: Olsson - first_name: Soenke full_name: Sievers, Soenke last_name: Sievers - first_name: Christian full_name: Sofilkanitsch , Christian last_name: 'Sofilkanitsch ' - first_name: André full_name: Uhde, André id: '36049' last_name: Uhde orcid: https://orcid.org/0000-0002-8058-8857 - first_name: Michael full_name: Eber, Michael last_name: Eber citation: ama: Mehring O, Olsson P, Sievers S, Sofilkanitsch C, Uhde A, Eber M. Co-Movement of Price and Intrinsic Value-Does Accounting Information Matter? TRR; 2020. apa: Mehring, O., Olsson, P., Sievers, S., Sofilkanitsch , C., Uhde, A., & Eber, M. (2020). Co-movement of Price and Intrinsic Value-Does Accounting Information Matter? TRR. bibtex: '@book{Mehring_Olsson_Sievers_Sofilkanitsch _Uhde_Eber_2020, title={Co-movement of Price and Intrinsic Value-Does Accounting Information Matter?}, publisher={TRR}, author={Mehring, Oliver and Olsson, Per and Sievers, Soenke and Sofilkanitsch , Christian and Uhde, André and Eber, Michael}, year={2020} }' chicago: Mehring, Oliver, Per Olsson, Soenke Sievers, Christian Sofilkanitsch , André Uhde, and Michael Eber. Co-Movement of Price and Intrinsic Value-Does Accounting Information Matter? TRR, 2020. ieee: O. Mehring, P. Olsson, S. Sievers, C. Sofilkanitsch , A. Uhde, and M. Eber, Co-movement of Price and Intrinsic Value-Does Accounting Information Matter? TRR, 2020. mla: Mehring, Oliver, et al. Co-Movement of Price and Intrinsic Value-Does Accounting Information Matter? TRR, 2020. short: O. Mehring, P. Olsson, S. Sievers, C. Sofilkanitsch , A. Uhde, M. Eber, Co-Movement of Price and Intrinsic Value-Does Accounting Information Matter?, TRR, 2020. date_created: 2022-12-20T11:53:58Z date_updated: 2022-12-23T10:41:04Z language: - iso: eng publisher: TRR status: public title: Co-movement of Price and Intrinsic Value-Does Accounting Information Matter? type: working_paper user_id: '26589' year: '2020' ... --- _id: '4562' abstract: - lang: eng text: Employing main and sector-specific investment-grade CDS indices from the North American and European CDS market and performing mean-variance out-of-sample analyses for conservative and aggressive investors over the period from 2006 to 2014, this paper analyzes portfolio benefits of adding corporate CDS indices to a traditional financial portfolio consisting of stock and sovereign bond indices. As a baseline result, we initially find an increase in portfolio (downside) risk-diversification when adding CDS indices, which is observed irrespective of both CDS markets, investor-types and different sub-periods, including the global financial crisis and European sovereign debt crisis. In addition, the analysis reveals higher portfolio excess returns and performance in CDS index portfolios, however, these effects clearly differ between markets, investor-types and sub-periods. Overall, portfolio benefits of adding CDS indices mainly result from the fact that institutional investors replace sovereign bond indices rather than stock indices by CDS indices due to better risk-return characteristics. Our baseline findings remain robust under a variety of robustness checks. Results from sensitivity analyses provide further important implications for institutional investors with a strategic focus on a long-term conservative portfolio management. article_type: original 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. Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North America and Europe. Review of Derivatives Research . 2019;22(2):203-259. doi:https://doi.org/10.1007/s11147-018-9148-8' apa: 'Hippert, B., Uhde, A., & Wengerek, S. T. (2019). Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North America and Europe. Review of Derivatives Research , 22(2), 203–259. https://doi.org/10.1007/s11147-018-9148-8' bibtex: '@article{Hippert_Uhde_Wengerek_2019, title={Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North America and Europe}, volume={22}, DOI={https://doi.org/10.1007/s11147-018-9148-8}, number={2}, journal={Review of Derivatives Research }, author={Hippert, Benjamin and Uhde, André and Wengerek, Sascha Tobias}, year={2019}, pages={203–259} }' chicago: 'Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. “Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North America and Europe.” Review of Derivatives Research 22, no. 2 (2019): 203–59. https://doi.org/10.1007/s11147-018-9148-8.' ieee: 'B. Hippert, A. Uhde, and S. T. Wengerek, “Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North America and Europe,” Review of Derivatives Research , vol. 22, no. 2, pp. 203–259, 2019, doi: https://doi.org/10.1007/s11147-018-9148-8.' mla: 'Hippert, Benjamin, et al. “Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North America and Europe.” Review of Derivatives Research , vol. 22, no. 2, 2019, pp. 203–59, doi:https://doi.org/10.1007/s11147-018-9148-8.' short: B. Hippert, A. Uhde, S.T. Wengerek, Review of Derivatives Research 22 (2019) 203–259. date_created: 2018-10-01T12:17:35Z date_updated: 2022-05-04T06:15:02Z department: - _id: '188' - _id: '186' doi: https://doi.org/10.1007/s11147-018-9148-8 intvolume: ' 22' issue: '2' jel: - C61 - G01 - G11 - G15 - G23 keyword: - Corporate credit default swap indices - Mean-variance asset allocation - Out-of-sample portfolio optimization - Portfolio risk-diversification - Portfolio performance evaluation language: - iso: eng page: 203-259 publication: 'Review of Derivatives Research ' publication_status: published status: public title: 'Portfolio Benefits of Adding Corporate Credit Default Swap Indices: Evidence from North America and Europe' type: journal_article user_id: '36049' volume: 22 year: '2019' ... --- _id: '36004' abstract: - lang: eng text: 'Employing a unique sample of 2,849 tariff imposition announcements by and against the United States (U.S.) over the period from 2018 to 2019, this study analyzes the impact of recent tariff announcements on share prices from 859 U.S. companies. We provide evidence for negative (cumulative) average abnormal stock returns due to tariff announcements during a symmetric three-day event window. We suggest that stock market investors expect adverse impacts of tariff impositions, e.g. a decrease in the companies'' future cash flows and a threat of retaliation. The negative wealth effects are observed irrespective of whether the Trump administration announces safeguard tariffs to protect domestic firms or a retaliation is declared by foreign countries. Moreover, building several subsamples, we find that the adverse impact is mostly driven by announcements involving China and is associated with a variety of sector, tariff, trade and firm characteristics. ' author: - first_name: Sascha Tobias full_name: Wengerek, Sascha Tobias last_name: Wengerek - first_name: André full_name: Uhde, André id: '36049' last_name: Uhde citation: ama: Wengerek ST, Uhde A. Share Price Reactions to Tariff Imposition Announcements in the Trump Era – An Event Study of the Trade Conflict. Paderborn University; 2019. apa: Wengerek, S. T., & Uhde, A. (2019). Share price reactions to tariff imposition announcements in the Trump era – An event study of the trade conflict. Paderborn University. bibtex: '@book{Wengerek_Uhde_2019, title={Share price reactions to tariff imposition announcements in the Trump era – An event study of the trade conflict}, publisher={Paderborn University}, author={Wengerek, Sascha Tobias and Uhde, André}, year={2019} }' chicago: Wengerek, Sascha Tobias, and André Uhde. Share Price Reactions to Tariff Imposition Announcements in the Trump Era – An Event Study of the Trade Conflict. Paderborn University, 2019. ieee: S. T. Wengerek and A. Uhde, Share price reactions to tariff imposition announcements in the Trump era – An event study of the trade conflict. Paderborn University, 2019. mla: Wengerek, Sascha Tobias, and André Uhde. Share Price Reactions to Tariff Imposition Announcements in the Trump Era – An Event Study of the Trade Conflict. Paderborn University, 2019. short: S.T. Wengerek, A. Uhde, Share Price Reactions to Tariff Imposition Announcements in the Trump Era – An Event Study of the Trade Conflict, Paderborn University, 2019. date_created: 2023-01-11T10:57:04Z date_updated: 2023-01-11T11:05:30Z department: - _id: '186' - _id: '188' jel: - F14 - F18 - F23 - F51 keyword: - event study - international relations - protectionism - strategic trade policy - tariffs - trade conflict language: - iso: eng publication_status: published publisher: Paderborn University status: public title: Share price reactions to tariff imposition announcements in the Trump era – An event study of the trade conflict type: working_paper user_id: '21810' year: '2019' ... --- _id: '4743' abstract: - lang: ger text: "Restrukturierungen werden sowohl durch die Digitalisierung, aber auch durch klassische Themen – beispielsweise\r\ndie Notwendigkeit von Umsatz- und Kostensynergien in kompetitiven Märkten – verstärkt vorangetrieben.\r\nDieser Beitrag beleuchtet vor allem die Motive und Folgen aus wissenschaftlicher Perspektive, indem großzahlige\r\nempirische Befunde zu den Themen Beschäftigung, Finanzkennzahlen und Kapitalerhöhungen sowie steuerliche\r\nMotive prägnant zusammengefasst und im Kontext des geplanten Joint Ventures von thyssenkrupp und Tata\r\nSteel diskutiert werden." author: - first_name: Sönke full_name: Sievers, Sönke id: '46447' last_name: Sievers - first_name: Caren full_name: Sureth-Sloane, Caren id: '530' last_name: Sureth-Sloane orcid: ' 0000-0002-8183-5901' - first_name: André full_name: Uhde, André id: '36049' last_name: Uhde orcid: https://orcid.org/0000-0002-8058-8857 citation: ama: 'Sievers S, Sureth-Sloane C, Uhde A. Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp. Die Wirtschaftsprüfung. 2018;71(9):569-575.' apa: 'Sievers, S., Sureth-Sloane, C., & Uhde, A. (2018). Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp. Die Wirtschaftsprüfung, 71(9), 569–575.' bibtex: '@article{Sievers_Sureth-Sloane_Uhde_2018, title={Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp}, volume={71}, number={9}, journal={Die Wirtschaftsprüfung}, author={Sievers, Sönke and Sureth-Sloane, Caren and Uhde, André}, year={2018}, pages={569–575} }' chicago: 'Sievers, Sönke, Caren Sureth-Sloane, and André Uhde. “Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp.” Die Wirtschaftsprüfung 71, no. 9 (2018): 569–75.' ieee: 'S. Sievers, C. Sureth-Sloane, and A. Uhde, “Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp,” Die Wirtschaftsprüfung, vol. 71, no. 9, pp. 569–575, 2018.' mla: 'Sievers, Sönke, et al. “Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp.” Die Wirtschaftsprüfung, vol. 71, no. 9, 2018, pp. 569–75.' short: S. Sievers, C. Sureth-Sloane, A. Uhde, Die Wirtschaftsprüfung 71 (2018) 569–575. date_created: 2018-10-15T10:42:21Z date_updated: 2023-01-31T12:09:32Z department: - _id: '187' - _id: '275' - _id: '188' - _id: '635' - _id: '186' intvolume: ' 71' issue: '9' language: - iso: ger page: 569-575 publication: Die Wirtschaftsprüfung quality_controlled: '1' status: public title: 'Restrukturierungen: operative und finanzielle Wertbeiträge. Eine Betrachtung vor dem Hintergrund der Entwicklungen bei thyssenkrupp' type: journal_article user_id: '21222' volume: 71 year: '2018' ... --- _id: '3378' abstract: - lang: ger text: "Nach der Finanzkrise sind die Modellwelten der Finanzierungstheorie, vor allem diejenigen, die auf vollkommenen Märkten spielen, nicht mehr zeitgemäß. Heute muss die Lehre zu Theorie und Praxis der Finanzierungspolitik beide Sphären miteinander verbinden - wie es das Konzept dieses neuen Lehrbuchs verfolgt: Aus der strategischen Sicht des Finanzleiters werden die zentralen Themen der unternehmerischen Finanzierungspolitik aufgezeigt:\r\nInvestitionsrechnung, Nutzung von Finanzmärkten, -intermediären und -instrumenten, Finanzielles Risikomanagement, Finanzkommunikation, Gestaltung von Unternehmensstruktur und -kontrolle.\r\n\r\nMit vielen Anwendungsbeispielen und Einblicken in die Praxis." author: - first_name: Stephan full_name: Paul, Stephan last_name: Paul - first_name: Andreas full_name: Horsch, Andreas last_name: Horsch - first_name: Daniel full_name: Kaltofen, Daniel last_name: Kaltofen - first_name: André full_name: Uhde, André id: '36049' last_name: Uhde orcid: https://orcid.org/0000-0002-8058-8857 - first_name: Gregor full_name: Weiß, Gregor last_name: Weiß citation: ama: Paul S, Horsch A, Kaltofen D, Uhde A, Weiß G. Unternehmerische Finanzierungspolitik. Vol 1. 1st ed. Schäffer Poeschel; 2017. apa: Paul, S., Horsch, A., Kaltofen, D., Uhde, A., & Weiß, G. (2017). Unternehmerische Finanzierungspolitik (1st ed., Vol. 1). Schäffer Poeschel. bibtex: '@book{Paul_Horsch_Kaltofen_Uhde_Weiß_2017, edition={1}, series={Eine wertorientierte Einführung}, title={Unternehmerische Finanzierungspolitik}, volume={1}, publisher={Schäffer Poeschel}, author={Paul, Stephan and Horsch, Andreas and Kaltofen, Daniel and Uhde, André and Weiß, Gregor}, year={2017}, collection={Eine wertorientierte Einführung} }' chicago: Paul, Stephan, Andreas Horsch, Daniel Kaltofen, André Uhde, and Gregor Weiß. Unternehmerische Finanzierungspolitik. 1st ed. Vol. 1. Eine wertorientierte Einführung. Schäffer Poeschel, 2017. ieee: S. Paul, A. Horsch, D. Kaltofen, A. Uhde, and G. Weiß, Unternehmerische Finanzierungspolitik, 1st ed., vol. 1. Schäffer Poeschel, 2017. mla: Paul, Stephan, et al. Unternehmerische Finanzierungspolitik. 1st ed., vol. 1, Schäffer Poeschel, 2017. short: S. Paul, A. Horsch, D. Kaltofen, A. Uhde, G. Weiß, Unternehmerische Finanzierungspolitik, 1st ed., Schäffer Poeschel, 2017. date_created: 2018-06-27T12:30:27Z date_updated: 2023-01-10T09:38:15Z department: - _id: '186' - _id: '188' edition: '1' intvolume: ' 1' keyword: - Investitionsrechnung - finanzielles Risikomanagement - Finanzkommunikation language: - iso: ger page: '760' publication_identifier: isbn: - ' 978-3-7910-3086-9' publication_status: published publisher: Schäffer Poeschel series_title: Eine wertorientierte Einführung status: public title: Unternehmerische Finanzierungspolitik type: book user_id: '21810' volume: 1 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. The Quarterly Review of Economics and Finance. 2016;60(5):12-28. doi:https://doi.org/10.1016/j.qref.2015.11.009' apa: 'Uhde, A. (2016). Risk-taking incentives through excess variable compensation: Evidence from European banks. The Quarterly Review of Economics and Finance, 60(5), 12–28. https://doi.org/10.1016/j.qref.2015.11.009' bibtex: '@article{Uhde_2016, title={Risk-taking incentives through excess variable compensation: Evidence from European banks}, volume={60}, DOI={https://doi.org/10.1016/j.qref.2015.11.009}, 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.” The Quarterly Review of Economics and Finance 60, no. 5 (2016): 12–28. https://doi.org/10.1016/j.qref.2015.11.009.' ieee: 'A. Uhde, “Risk-taking incentives through excess variable compensation: Evidence from European banks,” The Quarterly Review of Economics and Finance, vol. 60, no. 5, pp. 12–28, 2016, doi: https://doi.org/10.1016/j.qref.2015.11.009.' mla: 'Uhde, André. “Risk-Taking Incentives through Excess Variable Compensation: Evidence from European Banks.” The Quarterly Review of Economics and Finance, vol. 60, no. 5, Elsevier, 2016, pp. 12–28, doi:https://doi.org/10.1016/j.qref.2015.11.009.' 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. Journal of Banking and Finance. 2015;56:12-27. doi:10.1016/j.jbankfin.2015.01.015 apa: Farruggio, C., & Uhde, A. (2015). Determinants of loan securitization in European banking. Journal of Banking and Finance, 56, 12–27. https://doi.org/10.1016/j.jbankfin.2015.01.015 bibtex: '@article{Farruggio_Uhde_2015, title={Determinants of loan securitization in European banking}, volume={56}, DOI={10.1016/j.jbankfin.2015.01.015 }, 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.” Journal of Banking and Finance 56 (2015): 12–27. https://doi.org/10.1016/j.jbankfin.2015.01.015 .' ieee: 'C. Farruggio and A. Uhde, “Determinants of loan securitization in European banking,” Journal of Banking and Finance, vol. 56, pp. 12–27, 2015, doi: 10.1016/j.jbankfin.2015.01.015 .' mla: Farruggio, Christian, and André Uhde. “Determinants of Loan Securitization in European Banking.” Journal of Banking and Finance, vol. 56, 2015, pp. 12–27, doi:10.1016/j.jbankfin.2015.01.015 . 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: '4398' 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. alternative_title: - 'The impact of external governance quality on the economic and social success of microfinance institutions ' author: - first_name: André full_name: Uhde, André id: '36049' last_name: Uhde orcid: https://orcid.org/0000-0002-8058-8857 - first_name: Oliver full_name: Müller, Oliver last_name: Müller citation: ama: Uhde A, Müller O. External governance outcome and microfinance success. International Journal of Monetary Economics and Finance . 2013;6(2/3):116-149. doi:https://doi.org/10.1504/IJMEF.2013.056394 apa: Uhde, A., & Müller, O. (2013). External governance outcome and microfinance success. International Journal of Monetary Economics and Finance , 6(2/3), 116–149. https://doi.org/10.1504/IJMEF.2013.056394 bibtex: '@article{Uhde_Müller_2013, title={External governance outcome and microfinance success}, volume={6}, DOI={https://doi.org/10.1504/IJMEF.2013.056394}, number={2/3}, journal={ International Journal of Monetary Economics and Finance }, author={Uhde, André and Müller, Oliver}, year={2013}, pages={116–149} }' chicago: 'Uhde, André, and Oliver Müller. “External Governance Outcome and Microfinance Success.” International Journal of Monetary Economics and Finance 6, no. 2/3 (2013): 116–49. https://doi.org/10.1504/IJMEF.2013.056394.' ieee: 'A. Uhde and O. Müller, “External governance outcome and microfinance success,” International Journal of Monetary Economics and Finance , vol. 6, no. 2/3, pp. 116–149, 2013, doi: https://doi.org/10.1504/IJMEF.2013.056394.' mla: Uhde, André, and Oliver Müller. “External Governance Outcome and Microfinance Success.” International Journal of Monetary Economics and Finance , vol. 6, no. 2/3, 2013, pp. 116–49, doi:https://doi.org/10.1504/IJMEF.2013.056394. short: A. Uhde, O. Müller, International Journal of Monetary Economics and Finance 6 (2013) 116–149. date_created: 2018-09-14T11:53:25Z date_updated: 2023-01-10T09:38:58Z department: - _id: '186' - _id: '188' doi: https://doi.org/10.1504/IJMEF.2013.056394 intvolume: ' 6' issue: 2/3 jel: - G21 - G28 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 language: - iso: eng page: 116-149 publication: ' International Journal of Monetary Economics and Finance ' publication_identifier: eissn: - 1752-0487 publication_status: published status: public title: External governance outcome and microfinance success type: journal_article user_id: '21810' volume: 6 year: '2013' ... --- _id: '4397' abstract: - lang: eng 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. ' author: - first_name: Christian full_name: Farruggio, Christian last_name: Farruggio - 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: Farruggio C, Michalak TC, Uhde A. The light and dark side of TARP. Journal of Banking and Finance. 2013;32(5):2586-2604. doi:10.1016/j.jbankfin.2013.02.020 apa: Farruggio, C., Michalak, T. C., & Uhde, A. (2013). The light and dark side of TARP. Journal of Banking and Finance, 32(5), 2586–2604. https://doi.org/10.1016/j.jbankfin.2013.02.020 bibtex: '@article{Farruggio_Michalak_Uhde_2013, title={The light and dark side of TARP}, volume={32}, DOI={10.1016/j.jbankfin.2013.02.020}, number={5}, journal={Journal of Banking and Finance}, author={Farruggio, Christian and Michalak, Tobias C. and Uhde, André}, year={2013}, pages={2586–2604} }' chicago: 'Farruggio, Christian, Tobias C. Michalak, and André Uhde. “The Light and Dark Side of TARP.” Journal of Banking and Finance 32, no. 5 (2013): 2586–2604. https://doi.org/10.1016/j.jbankfin.2013.02.020.' ieee: 'C. Farruggio, T. C. Michalak, and A. Uhde, “The light and dark side of TARP,” Journal of Banking and Finance, vol. 32, no. 5, pp. 2586–2604, 2013, doi: 10.1016/j.jbankfin.2013.02.020.' mla: Farruggio, Christian, et al. “The Light and Dark Side of TARP.” Journal of Banking and Finance, vol. 32, no. 5, 2013, pp. 2586–604, doi:10.1016/j.jbankfin.2013.02.020. short: C. Farruggio, T.C. Michalak, A. Uhde, Journal of Banking and Finance 32 (2013) 2586–2604. date_created: 2018-09-14T11:40:31Z date_updated: 2023-01-10T09:37:43Z department: - _id: '186' - _id: '188' doi: 10.1016/j.jbankfin.2013.02.020 intvolume: ' 32' issue: '5' jel: - G14 - G21 - G28 keyword: - Financial crisis - TARP - Market efficiency - Event study language: - iso: eng page: 2586-2604 publication: Journal of Banking and Finance publication_status: published status: public title: The light and dark side of TARP type: journal_article user_id: '21810' volume: 32 year: '2013' ... --- _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. Quarterly Review of Economics and Finance. 2012;52(3):272-285. doi:https://doi.org/10.1016/j.qref.2012.04.008' apa: 'Michalak, T. C., & Uhde, A. (2012). Credit risk securitization and bank soundness: Evidence from the microlevel for Europe. Quarterly Review of Economics and Finance, 52(3), 272–285. https://doi.org/10.1016/j.qref.2012.04.008' bibtex: '@article{Michalak_Uhde_2012, title={ Credit risk securitization and bank soundness: Evidence from the microlevel for Europe}, volume={52}, DOI={https://doi.org/10.1016/j.qref.2012.04.008}, 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.” Quarterly Review of Economics and Finance 52, no. 3 (2012): 272–85. https://doi.org/10.1016/j.qref.2012.04.008.' ieee: 'T. C. Michalak and A. Uhde, “ Credit risk securitization and bank soundness: Evidence from the microlevel for Europe,” Quarterly Review of Economics and Finance, vol. 52, no. 3, pp. 272–285, 2012, doi: https://doi.org/10.1016/j.qref.2012.04.008.' mla: 'Michalak, Tobias C., and André Uhde. “ Credit Risk Securitization and Bank Soundness: Evidence from the Microlevel for Europe.” Quarterly Review of Economics and Finance, vol. 52, no. 3, 2012, pp. 272–85, doi:https://doi.org/10.1016/j.qref.2012.04.008.' 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. Journal of International Financial Markets, Institutions & Money. 2012;23:136-162. doi:DOI: 10.1016/j.intfin.2012.09.004 ' apa: 'Müller, O., & Uhde, A. (2012). Cross-border bank lending - Empirical evidence on further determinants from OECD banking markets. Journal of International Financial Markets, Institutions & Money, 23, 136–162. https://doi.org/DOI: 10.1016/j.intfin.2012.09.004 ' bibtex: '@article{Müller_Uhde_2012, title={Cross-border bank lending - Empirical evidence on further determinants from OECD banking markets}, volume={23}, DOI={DOI: 10.1016/j.intfin.2012.09.004 }, journal={Journal of International Financial Markets, Institutions & 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.” Journal of International Financial Markets, Institutions & Money 23 (2012): 136–62. https://doi.org/DOI: 10.1016/j.intfin.2012.09.004 .' ieee: 'O. Müller and A. Uhde, “Cross-border bank lending - Empirical evidence on further determinants from OECD banking markets,” Journal of International Financial Markets, Institutions & Money, vol. 23, pp. 136–162, 2012, doi: DOI: 10.1016/j.intfin.2012.09.004 .' mla: 'Müller, Oliver, and André Uhde. “Cross-Border Bank Lending - Empirical Evidence on Further Determinants from OECD Banking Markets.” Journal of International Financial Markets, Institutions & Money, vol. 23, 2012, pp. 136–62, doi:DOI: 10.1016/j.intfin.2012.09.004 .' short: O. Müller, A. Uhde, Journal of International Financial Markets, Institutions & 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: '4403' abstract: - lang: eng 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. ' author: - first_name: Christian full_name: Farruggio, Christian last_name: Farruggio - 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: Farruggio C, Michalak TC, Uhde A. Wealth effects of credit risk securitization in European Banking. Journal of Business Finance and Accounting. 2012;39(1 & 2):193-228. doi:https://doi.org/10.1111/j.1468-5957.2012.02273.x apa: Farruggio, C., Michalak, T. C., & Uhde, A. (2012). Wealth effects of credit risk securitization in European Banking. Journal of Business Finance and Accounting, 39(1 & 2), 193–228. https://doi.org/10.1111/j.1468-5957.2012.02273.x bibtex: '@article{Farruggio_Michalak_Uhde_2012, title={Wealth effects of credit risk securitization in European Banking}, volume={39}, DOI={https://doi.org/10.1111/j.1468-5957.2012.02273.x}, number={1 & 2}, journal={Journal of Business Finance and Accounting}, author={Farruggio, Christian and Michalak, Tobias C. and Uhde, André}, year={2012}, pages={193–228} }' chicago: 'Farruggio, Christian, Tobias C. Michalak, and André Uhde. “Wealth Effects of Credit Risk Securitization in European Banking.” Journal of Business Finance and Accounting 39, no. 1 & 2 (2012): 193–228. https://doi.org/10.1111/j.1468-5957.2012.02273.x.' ieee: 'C. Farruggio, T. C. Michalak, and A. Uhde, “Wealth effects of credit risk securitization in European Banking,” Journal of Business Finance and Accounting, vol. 39, no. 1 & 2, pp. 193–228, 2012, doi: https://doi.org/10.1111/j.1468-5957.2012.02273.x.' mla: Farruggio, Christian, et al. “Wealth Effects of Credit Risk Securitization in European Banking.” Journal of Business Finance and Accounting, vol. 39, no. 1 & 2, 2012, pp. 193–228, doi:https://doi.org/10.1111/j.1468-5957.2012.02273.x. short: C. Farruggio, T.C. Michalak, A. Uhde, Journal of Business Finance and Accounting 39 (2012) 193–228. date_created: 2018-09-14T12:44:33Z date_updated: 2023-01-10T09:35:34Z department: - _id: '186' - _id: '188' doi: https://doi.org/10.1111/j.1468-5957.2012.02273.x extern: '1' intvolume: ' 39' issue: 1&2 jel: - G - F keyword: - wealth effects - credit risk securitization - Europe - event study language: - iso: eng page: 193-228 publication: Journal of Business Finance and Accounting publication_status: published status: public title: Wealth effects of credit risk securitization in European Banking type: journal_article user_id: '21810' volume: 39 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. Journal of Governance and Regulation. 2012;1(3):96-109. doi:http://dx.doi.org/10.2139/ssrn.1946120 apa: Paul, S., Stein, S., & Uhde, A. (2012). Measuring the quality of banking supervision revisited - Assessments by German banks before and during the financial crisis. Journal of Governance and Regulation, 1(3), 96–109. http://dx.doi.org/10.2139/ssrn.1946120 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={http://dx.doi.org/10.2139/ssrn.1946120 }, 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.” Journal of Governance and Regulation 1, no. 3 (2012): 96–109. http://dx.doi.org/10.2139/ssrn.1946120 .' 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,” Journal of Governance and Regulation, vol. 1, no. 3, pp. 96–109, 2012, doi: http://dx.doi.org/10.2139/ssrn.1946120 .' mla: Paul, Stephan, et al. “Measuring the Quality of Banking Supervision Revisited - Assessments by German Banks before and during the Financial Crisis.” Journal of Governance and Regulation, vol. 1, no. 3, 2012, pp. 96–109, doi:http://dx.doi.org/10.2139/ssrn.1946120 . 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: '36015' 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. ' author: - first_name: Christian full_name: Meine, Christian last_name: Meine - 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: Meine C, Michalak TC, Uhde A. Sovereign Risk and Bank-Specific CDS Pricing. Paderborn University; 2012. apa: Meine, C., Michalak, T. C., & Uhde, A. (2012). Sovereign Risk and Bank-Specific CDS Pricing. Paderborn University. 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} }' chicago: Meine, Christian, Tobias C. Michalak, and André Uhde. Sovereign Risk and Bank-Specific CDS Pricing. Paderborn University, 2012. ieee: C. Meine, T. C. Michalak, and A. Uhde, Sovereign Risk and Bank-Specific CDS Pricing. Paderborn University, 2012. mla: Meine, Christian, et al. Sovereign Risk and Bank-Specific CDS Pricing. Paderborn University, 2012. short: C. Meine, T.C. Michalak, A. Uhde, Sovereign Risk and Bank-Specific CDS Pricing, Paderborn University, 2012. date_created: 2023-01-11T11:00:57Z date_updated: 2023-01-11T11:05:44Z department: - _id: '186' - _id: '188' jel: - G01 - G12 - G14 - G18 - G21 keyword: - Sovereign risk - Structural credit risk models - bank-specific CDS pricing language: - iso: eng publication_status: published publisher: Paderborn University status: public title: Sovereign Risk and Bank-Specific CDS Pricing type: working_paper user_id: '21810' year: '2012' ...