Which Factors Play a Role in CoCo Issuance? Evidence from European Banks

Scientific Conference (2023, February)

What can inform us about the arrival of daily extreme stock market events?

E-print/Working paper (2023)

Which Factors Play a Role in Coco Issuance? Evidence from European Banks.

in Journal of Derivatives (2022), (Fall),

Non-Standard Errors

Presentation (2022, June 24)

Best Paper Award: Runner-up for the Bates-White Prize for the Best Paper at the 2022 Annual Meeting

in Non-Standard Errors (2022)

Dividend Policy Decisions and Ownership Concentration: Evidence from Thai Public Companies

in Review of Pacific Basin Financial Markets and Policies (2022)

Executing trades in style: Retail investors vs. institutions.

in Asia-Pacific Journal of Accounting and Economics (2022), 29(2), 344-362

Which Factors Play a Role in Coco Issuance? Evidence from European Banks.

in Best Paper Award (2022)

Finance Crowd Analysis Project (FINCAP)

Report (2021)

More than 100 research teams (RTs) from around the world tested the same set of hypotheses on the same data. They worked independently and wrote an academic paper based on their findings. These reports ... [more ▼]

More than 100 research teams (RTs) from around the world tested the same set of hypotheses on the same data. They worked independently and wrote an academic paper based on their findings. These reports were be evaluated by more than 30 distinguished academics whom we refer to as peer evaluators (PEs). Their feedback was be passed on to the RTs so that they can revise their papers. The project coordinators will study the #fincap results to learn about the scientific process. They have committed ex-ante to a meta-science analysis which was frozen before any instructions and data were given to the RTs and PEs. This frozen “pre-analysis plan” was uploaded to the Open Science Framework on Monday, 2021-01-11. The project will lead to a peer-reviewed academic publication at high level. [less ▲]

Spillovers to small business credit risk

in Small Business Economics (2021), 57

Do large credit risk shocks spill over to small businesses and affect their real economic activity? Using information on small business credit risk, we find that small businesses show increased default ... [more ▼]

Do large credit risk shocks spill over to small businesses and affect their real economic activity? Using information on small business credit risk, we find that small businesses show increased default and bankruptcy rates following a shock to a customer industry. On an industry level, the shock to a customer industry is followed by a decrease in industry markups, disproportionate closure of firms, and cutbacks in inventories. Our analysis quantifies the elevated credit risk among small businesses and suggests a non-negligible 0.83% increase in expected losses on a diversified loan portfolio following a credit risk shock. This study provides banks and supervisors with greater clarity on timing and on the extent of elevated small business credit risk. It also allows them to assess the exposure of a bank portfolio to fluctuations in small business default rate. Such improved default prediction reduces credit rationing to the small business economy. [less ▲]