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  1. ESG and systemic risk
    Autor*in: Aevoae, George-Marian; Andrieş, Alin Marius; Ongena, Steven; Sprincean, Nicu
    Erschienen: [2022]
    Verlag:  Swiss Finance Institute, Geneva

    How do changes in Environmental, Social and Governance (ESG) scores influence banks’ systemic risk contribution? We document a beneficial impact of the ESG Combined Score and Governance pillar on banks’ contribution to system-wide distress analysing... mehr

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    Standort:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 544
    Fernleihe:
    keine Fernleihe

     

    How do changes in Environmental, Social and Governance (ESG) scores influence banks’ systemic risk contribution? We document a beneficial impact of the ESG Combined Score and Governance pillar on banks’ contribution to system-wide distress analysing a panel of 367 publicly listed banks from 47 countries over the period 2007-2020. Stakeholder theory and theory relating social performance to expected returns in which enhanced investments in corporate social responsibility mitigate bank specific risks explain our findings. However, only better corporate governance represents a tool in reducing bank interconnectedness and maintaining financial stability. A similar relationship for banks’ exposure to systemic risk is also found. Our findings stress the importance of integrating banks’ ESG disclosure into regulatory authorities’ supervisory mechanisms as qualitative information

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    Schriftenreihe: Research paper series / Swiss Finance Institute ; no 22, 25
    Schlagworte: Systemic Risk; Financial Stability; Corporate Social Responsibility (CSR); Environmental Social and Governance (ESG) Scores
    Umfang: 1 Online-Ressource (circa 22 Seiten)
  2. Risk spillovers and interconnectedness between systemically important institutions
    Autor*in: Andrieş, Alin Marius; Ongena, Steven; Sprincean, Nicu; Tunaru, Radu
    Erschienen: 2020
    Verlag:  Swiss Finance Institute, Geneva

    In this paper we gauge the degree of interconnectedness and quantify the linkages between global and other systemically important institutions, and the global financial system. We document that the two groups and the financial system become more... mehr

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    Standort:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 544
    Fernleihe:
    keine Fernleihe

     

    In this paper we gauge the degree of interconnectedness and quantify the linkages between global and other systemically important institutions, and the global financial system. We document that the two groups and the financial system become more interconnected during the global financial crisis when linkages across groups grow. In contrast, during tranquil times linkages within groups prevail. Global systemically important banks contribute most to system-wide distress, but are also most exposed. Other systemically important institutions bear more individual market risk. The two groups and the global financial system also co-vary for periods of up to 60 days. In sum, both groups perform in ways that defy any straightforward categorization

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
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    Auflage/Ausgabe: This version: May 9, 2020
    Schriftenreihe: Research paper series / Swiss Finance Institute ; no 20, 40
    Swiss Finance Institute Research Paper ; No. 20-40
    Umfang: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  3. The COVID-19 pandemic and sovereign bond risk
    Autor*in: Andrieş, Alin Marius; Ongena, Steven; Sprincean, Nicu
    Erschienen: 2020
    Verlag:  Swiss Finance Institute, Geneva

    Governments around the world are tackling the COVID-19 pandemic with a mix of public health, fiscal, macroprudential, monetary, or market-based policies. We assess the impact of the pandemic in Europe on sovereign CDS spreads using an event study... mehr

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    Resolving-System (kostenfrei)
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Standort:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 544
    Fernleihe:
    keine Fernleihe

     

    Governments around the world are tackling the COVID-19 pandemic with a mix of public health, fiscal, macroprudential, monetary, or market-based policies. We assess the impact of the pandemic in Europe on sovereign CDS spreads using an event study methodology. We find that a higher number of cases and deaths and public health containment responses significantly increase the uncertainty among investors in European government bonds. Other governmental policies magnify the effect in the short run as supply chains are disrupted

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
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    Auflage/Ausgabe: This version: 17 May 2020
    Schriftenreihe: Research paper series / Swiss Finance Institute ; no 20, 42
    Swiss Finance Institute Research Paper ; No. 20-42
    Schlagworte: Öffentliche Anleihe; Kreditrisiko; Kreditderivat; Öffentliche Schulden; Coronavirus; Epidemie; EU-Staaten
    Umfang: 1 Online-Ressource (circa 21 Seiten), Illustrationen
  4. External Wealth of Nations and Systemic Risk
    Autor*in: Andrieş, Alin Marius; Chiper, Alexandra-Maria; Ongena, Steven; Sprincean, Nicu
    Erschienen: 2022
    Verlag:  SSRN, [S.l.]

    External imbalances played a pivotal role in the run-up to the global financial crisis, being an important underlying cause of the ensuing turmoil. While current account (flow) imbalances have narrowed in the aftermath of the crisis, net... mehr

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    Standort:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Fernleihe:
    keine Fernleihe

     

    External imbalances played a pivotal role in the run-up to the global financial crisis, being an important underlying cause of the ensuing turmoil. While current account (flow) imbalances have narrowed in the aftermath of the crisis, net international investment position (stock) imbalances still persist. In this paper, we explore the implications of countries’ net foreign positions on systemic risk. Using a sample composed of 450 banks located in 46 advanced, developing and emerging countries over the period 2000-2020, we document that banks can reduce their systemic risk exposure when the countries where they are incorporated maintain creditor positions vis-à-vis the rest of the world. However, only the equity components of the net international investment positions are responsible for this outcome, whereas debt flows do not contribute significantly. In addition, we find that the heterogeneity across countries is substantial and that only banks located in advanced markets that maintain their creditor positions have the potential to improve their resilience to system-wide shocks. Our findings are relevant for policy makers who seek to improve banks’ resilience to adverse shocks and to maintain financial stability

     
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    Sprache: Englisch
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    Format: Online
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    Schriftenreihe: Swiss Finance Institute Research Paper ; No. 22-74
    Schlagworte: External Wealth of Nations; External Imbalances; Net International Investment Position; Systemic Risk; Financial Stability
    Weitere Schlagworte: Array
    Umfang: 1 Online-Ressource (47 Seiten)
    Bemerkung(en):

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 15, 2022 erstellt
  5. Central bank independence and systemic risk
    Autor*in: Andrieş, Alin Marius; Podpiera, Anca Maria; Sprincean, Nicu
    Erschienen: 12.6.2020
    Verlag:  Bank of Finland, BOFIT Institute for Economies in Transition, Helsinki

    We investigate the relationship of central bank independence and banks' systemic risk measures. Our results support the case for central bank independence, revealing that central bank independence has a robust, negative, and significant impact on the... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 686
    Fernleihe:
    keine Fernleihe

     

    We investigate the relationship of central bank independence and banks' systemic risk measures. Our results support the case for central bank independence, revealing that central bank independence has a robust, negative, and significant impact on the contribution and exposure of a bank to systemic risk. Moreover, the impact of central bank independence is similar for the stand-alone risk of individual banks. Secondarily, we study how the central bank independence affects the impact of selected country and banking system indicators on these systemic measures. The results show that central bank independence may exacerbate the effect of a crisis on the contribution of banks to systemic risk. However, central bank independence seems to mitigate the harmful effect of a bank's high market power on its systemic risk contribution.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789523233331
    Weitere Identifier:
    hdl: 10419/240364
    Schriftenreihe: BOFIT discussion papers ; 2020, 13
    Umfang: 1 Online-Ressource (circa 48 Seiten), Illustrationen
  6. Good and bad credit growth
    sectoral credit allocation and systemic risk
    Autor*in: Andrieş, Alin Marius; Ongena, Steven; Sprincean, Nicu
    Erschienen: [2024]
    Verlag:  Swiss Finance Institute, Geneva

    Zugang:
    Resolving-System (kostenfrei)

    Standort:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    Keine Rechte
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    Schriftenreihe: Swiss Finance Institute research paper series ; no 24, 23
    Schlagworte: systemic risk; sectoral credit; financial stability
    Umfang: 1 Online-Ressource (circa 38 Seiten), Illustrationen