{"language":[{"iso":"eng"}],"publication_status":"submitted","type":"working_paper","date_updated":"2024-04-17T13:35:47Z","year":"2019","jel":["G10","G12","G21"],"status":"public","author":[{"last_name":"Hippert","id":"48476","full_name":"Hippert, Benjamin","first_name":"Benjamin"},{"id":"36049","last_name":"Uhde","full_name":"Uhde, André","first_name":"André","orcid":"https://orcid.org/0000-0002-8058-8857"}],"abstract":[{"text":"Employing credit default swap (CDS) data for a sample of 52 major banks across 18\r\ncountries from 2008 to 2016, this paper investigates determinants of the outstanding\r\nnet notional amount of CDS which are written on banks. We extend the current\r\nliterature dealing with CDS trading by analyzing further CDS trading-specifi\fc,\r\nfundamental bank-speci\ffic as well as macroeconomic and institutional determinants\r\nwith a focus on bank CDS trading. We fi\fnd that, next to well-discussed determinants\r\nfor corporate \ffirms in the literature, especially a bank's tail risk, capital adequacy,\r\nloan portfolio and business model affect a bank's outstanding CDS net notional.\r\nThis \ffinding indicates that investors in the bank CDS market partly have a recourse\r\nto a fundamental analysis for their investment decision. Our study \ffills an important\r\ngap since empirical studies have solely focused on sovereign and corporate CDS yet.\r\nIn addition, the analysis at hand provides important implications for both academics\r\nand practitioners since understanding the trading motives of bank CDS investors\r\ngives deeper insights into the still opaque CDS market.","lang":"eng"}],"department":[{"_id":"186"},{"_id":"188"}],"title":"Determinants of CDS trading on major banks","_id":"5170","keyword":["banking","outstanding CDS net notional","determinants of bank CDS trading"],"date_created":"2018-10-31T10:05:47Z","citation":{"ieee":"B. Hippert and A. Uhde, <i>Determinants of CDS trading on major banks</i>. .","bibtex":"@book{Hippert_Uhde, title={Determinants of CDS trading on major banks}, author={Hippert, Benjamin and Uhde, André} }","mla":"Hippert, Benjamin, and André Uhde. <i>Determinants of CDS Trading on Major Banks</i>.","ama":"Hippert B, Uhde A. <i>Determinants of CDS Trading on Major Banks</i>.","chicago":"Hippert, Benjamin, and André Uhde. <i>Determinants of CDS Trading on Major Banks</i>, n.d.","apa":"Hippert, B., &#38; Uhde, A. (n.d.). <i>Determinants of CDS trading on major banks</i>.","short":"B. Hippert, A. Uhde, Determinants of CDS Trading on Major Banks, n.d."},"user_id":"36049"}