Bank Performance, Risk and Firm Financing (Palgrave by Philip Molyneux

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By Philip Molyneux

This article contains a variety of papers that provide cutting-edge insights into bank functionality, hazard and company financing put up predicament that have been provided on the eu organization of collage lecturers of Banking and Finance convention (otherwise often called the Wolpertinger convention) held at Bangor college, Wales, 2010.

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Extra resources for Bank Performance, Risk and Firm Financing (Palgrave MacMillan Studies in Banking and Financial Institut)

Example text

In that case, banks’ bad debt rates will be higher, increasing the probability of bank failures. The existing empirical evidence on the effect of market power on financial stability is not conclusive. Thus, focusing on the studies published in recent years, the evidence from Boyd et al. (2006) is favourable to the existence of a positive relationship between competition (market power) and financial stability (banking risk). In the same line, the study by Schaeck et al. (2009) also shows that stability is greater in the most competitive banking systems, given the lower probability of a financial crisis occurring (proxied by an indicator of systemic risk).

2004) also comment that inflation and the economic cycle can affect banking margins. Indeed, they find that inflation has a positive effect on financial margins. See also Carbó et al. (2009). K. and Schmidt, P. (1977) ‘Formulation and estimation of stochastics frontier production function models’, Journal of Econometrics, 86, 21–37. , Klapper, L. and Turk Ariss, R. (2009) ‘Bank competition and financial stability’, Journal of Financial Services Research, 35(2), 99–118. A. and Haaf, K. (2002) ‘Competition, concentration and their relationship: an empirical analysis of the banking industry’, Journal of Banking and Finance, 26, 2191–14.

Although the construction of proxies based on accounting data is affected by accounting conventions and policies, which may differ between banks and which are not uniform across countries, their use is widespread in the literature. Despite an extensive literature on both the bias in analysts’ forecasts and the measurement of banks’ risk based on public (accounting and market) data, less attention has been paid to the role of analysts as a ‘bridge’ between the market data and their dissemination and interpretation for the evaluation of risk.

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