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Displaying results 1 to 12 of 12.

  1. Experimental evidence on bank runs under partial deposit insurance
    Author: Peia, Oana; Vranceanu, Radu P.
    Published: [2017]
    Publisher:  ESSEC Business School, [Cergy-Pontoise]

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 379 (1705)
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: ESSEC working paper ; 1705
    Scope: 1 Online-Ressource (circa 28 Seiten)
  2. Central Bank Communication and Social Media
    From Silence to Twitter
    Author: Romelli, Davide; Masciandaro, Donato; Peia, Oana
    Published: 2022
    Publisher:  SSRN, [S.l.]

    This paper discusses the evolution of central bank communication, focusing on recent efforts by central banks to engage with a wider audience via social media. We document the social media presence of major central banks and discuss how analyzing... more

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    This paper discusses the evolution of central bank communication, focusing on recent efforts by central banks to engage with a wider audience via social media. We document the social media presence of major central banks and discuss how analyzing Twitter content by and about monetary policy makers can inform about the effectiveness of communication in influencing beliefs. We focus on recent techniques employed in analyzing social media content in order to understand how central bank communication affects expectations and, subsequently, behavior in financial markets

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: BAFFI CAREFIN Centre Research Paper ; No. 2022-187
    Subjects: central bank communication; monetary policy; expectations; transparency; text analysis; social media; Twitter
    Other subjects: Array
    Scope: 1 Online-Ressource (36 p)
    Notes:

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments October 31, 2022 erstellt
  3. Financial fragility in open-ended mutual funds
    the role of liquidity management tools
    Author: Dunne, Peter G.; Emter, Lorenz; Fecht, Falko; Giuliana, Raffaele; Peia, Oana
    Published: [2023]
    Publisher:  European Systemic Risk Board, Frankfurt am Main, Germany

    We study the role of liquidity management tools (LMTs) in mitigating financial fragility in investment funds during the COVID-19 market distress. We employ a unique dataset that reports the availability of different types of LMTs in a sample of... more

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    DS 611
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    We study the role of liquidity management tools (LMTs) in mitigating financial fragility in investment funds during the COVID-19 market distress. We employ a unique dataset that reports the availability of different types of LMTs in a sample of Irish-domiciled corporate bond funds. We find that funds with access to price-based tools such as redemption fees or anti-dilution levies experienced lower net outflows in March 2020, as compared to funds with only quantity-based tools such as redemption gates, temporary suspensions or redemption in kind. This difference is stronger among funds with a high sensitivity of flows to past-performance and reflects both higher gross in- flows and lower gross outflows during this episode. Funds with price-based LMTs also rebalance their portfolios towards less liquid bonds, which results in lower price fragility among bonds held disproportionally by our sample of Irish-domiciled funds.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789294723277
    Other identifier:
    hdl: 10419/278379
    Series: Working paper series / ESRB, European Systemic Risk Board, European System of Financial Supervision ; no 140 (March 2023)
    Subjects: liquidity management tools; investment funds; COVID-19; financial fragility
    Scope: 1 Online-Ressource (circa 47 Seiten), Illustrationen
  4. Credit ratings and investments
    Author: Bayona, Anna; Peia, Oana; Vlahu, Razvan
    Published: [2023]
    Publisher:  De Nederlandsche Bank NV, Amsterdam, The Netherlands

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    ZSS 28
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: DNB working paper ; no. 776 (May 2023)
    Subjects: Credit ratings; Imperfect information; Investor beliefs; Firm financing
    Scope: 1 Online-Ressource (circa 67 Seiten), Illustrationen
  5. Do non-bank lenders mitigate credit supply shocks?
    evidence from a major bank exit
    Author: McCann, Fergal; McGeever, Niall; Peia, Oana
    Published: [2023]
    Publisher:  [Central Bank of Ireland], Dublin, Ireland

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 548
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Research technical paper / Central Bank of Ireland ; 23, 09
    Subjects: credit supply; non-bank lending; banking relationships
    Scope: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  6. Bank funding constraints and the cost of capital of small firms
    Author: Peia, Oana; Vranceanu, Radu P.
    Published: 2015
    Publisher:  ESSEC Business School, Cergy-Pontoise

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Documents de recherche / ESSEC Centre de Recherche = Working papers, ESSEC Research Center ; 1501
    Subjects: Unternehmensfinanzierung; Kapitalkosten; KMU; Bank
    Scope: Online-Ressource (21 S.), graph. Darst.
  7. Optimal return in a model of bank small-business financing
    Author: Peia, Oana; Vranceanu, Radu P.
    Published: 2014
    Publisher:  ESSEC Business School, Cergy-Pontoise

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Documents de recherche / ESSEC Centre de Recherche = Working papers, ESSEC Research Center ; 1403
    Subjects: Bankgeschäft; Unternehmensfinanzierung; KMU; Return on Investment
    Scope: Online-Ressource (26 S.)
  8. Competition and innovation in the financial sector: evidence from the rise of FinTech start-ups
    Author: Caragea, Doina; Dobri, Mihai; Cojoianu, Theodor; Hoepner, Andreas G. F.; Peia, Oana
    Published: [2022]
    Publisher:  UCD School of Economics, University College Dublin, Dublin

    We provide new evidence on the effects of competition on incumbents' innovative behavior by examining the rise of FinTech start-ups over the period 2000-2016. We employ machine learning techniques to classify a large global sample of patent... more

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    We provide new evidence on the effects of competition on incumbents' innovative behavior by examining the rise of FinTech start-ups over the period 2000-2016. We employ machine learning techniques to classify a large global sample of patent applications into five FinTech categories. We exploit the variation in the share of FinTech patent applications by non-financial startups to incumbent financial firms to measure competitive pressures from outside the financial industry. We show that higher competitive pressures from nonfinancial start-ups increases the probability that financial incumbents innovate. Moreover, competition from start-ups results in a higher number of FinTech patent applications by financial incumbents as compared to non-financial firms, especially when the innovations of FinTech start-ups are more important, as proxied by future patent citations count.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/256818
    Series: Working paper series / UCD Centre for Economic Research ; WP22, 01 (January 2022)
    Subjects: FinTech; patents; machine learning; financial incumbents; innovation
    Scope: 1 Online-Ressource (circa 41 Seiten), Illustrationen
  9. The impact of quantitative easing on liquidity creation
    Author: Kapoor, Supriya; Peia, Oana
    Published: 2020
    Publisher:  UCD School of Economics, University College Dublin, Dublin

    We study the effects of the US Federal Reserve's large-scale asset purchase programs during 2008-2014 on bank liquidity creation. Banks create liquidity when they transform the liquid reserves resulted from quantitative easing into illiquid assets.... more

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    We study the effects of the US Federal Reserve's large-scale asset purchase programs during 2008-2014 on bank liquidity creation. Banks create liquidity when they transform the liquid reserves resulted from quantitative easing into illiquid assets. As the composition of banks' loan portfolio affects the amount of liquidity it creates, the impact of quantitative easing on liquidity creation is not a priori clear. Using a difference-in-difference identification strategy, we find that banks that were more exposed to the policy increased lending relative to a control group. However, while the increase in lending was present across all three rounds of quantitative easing, we only find a strong effect on liquidity creation during the last round. This points to a weaker impact of quantitative easing on the real economy during the first two rounds, when affected banks transformed the reserves created through the asset purchase program into less illiquid assets, such as real estate mortgages.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/228189
    Series: Working paper series / UCD Centre for Economic Research ; WP20, 09 (April 2020)
    Scope: 1 Online-Ressource (circa 36 Seiten), Illustrationen
  10. Banking crises and investments in innovation
    Author: Peia, Oana
    Published: 2017
    Publisher:  UCD School of Economics, University College Dublin, Dublin

    This paper proposes a new channel to explain the medium- to long-term effects of banking crises on the real economy. It embeds a banking sector prone to runs in a stylized growth model to show that episodes of bank distress affect not only the... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 120 (2017,27)
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    This paper proposes a new channel to explain the medium- to long-term effects of banking crises on the real economy. It embeds a banking sector prone to runs in a stylized growth model to show that episodes of bank distress affect not only the volume, but also the com- position of firm investment, by disproportionally decreasing investments in innovation. This hypothesis is confirmed empirically employing industry-level data on R&D spending around 13 recent banking crises episodes. Using difference-in-difference identification strategies, I show that industries that depend more on external finance, in more bank-based economies, invest disproportionally less in R&D following systemic banking crises. These industries also have a lower share of R&D spending in total investment, suggesting a shift in the composition of investment that is specific to recessions following banking crises and not other business cycle recessions.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/184827
    Series: Working paper series / UCD Centre for Economic Research ; WP17, 27 (December 2017)
    Scope: 1 Online-Ressource (circa 46 Seiten), Illustrationen
  11. Did bank lending stifle innovation in Europe during the great recession?
    Author: Peia, Oana; Romelli, Davide
    Published: [2019]
    Publisher:  UCD School of Economics, University College Dublin, Dublin

    Using the 2008-09 Global financial crisis and the 2012 Euro area sovereign debt crisis as natural experiments, we investigate the effects of contractions in credit supply on R&D spending in a large sample of European firms. Our identification... more

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    Using the 2008-09 Global financial crisis and the 2012 Euro area sovereign debt crisis as natural experiments, we investigate the effects of contractions in credit supply on R&D spending in a large sample of European firms. Our identification strategy exploits differences in financial constraints across firms, as well as the cross-industry variation in dependence on external finance, to identify a causal effect of bank credit supply on firm investment in innovation. We show that firms that are more likely financially constrained, in industries more dependent on external finance, have a disproportionally lower growth rate of R&D spending, as well as lower R&D intensity and share of R&D investment in total investment during periods of tight credit supply. These results are robust to different proxies of financial constraints, model specifications and fixed-effects identification strategies.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/228174
    Series: Working paper series / UCD Centre for Economic Research ; WP19, 26 (November 2019)
    Scope: 1 Online-Ressource (circa 40 Seiten), Illustrationen
  12. Financial contagion and the wealth effect
    an experimental study
    Author: Bayona, Anna; Peia, Oana
    Published: [2020]
    Publisher:  UCD School of Economics, University College Dublin, Dublin

    We design a laboratory experiment to test the importance of wealth as a channel for financial contagion across markets with unrelated fundamentals. Specifically, in a sequential global game, we analyze the decisions of a group of investors that hold... more

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    We design a laboratory experiment to test the importance of wealth as a channel for financial contagion across markets with unrelated fundamentals. Specifically, in a sequential global game, we analyze the decisions of a group of investors that hold assets in two markets. We consider two treatments that vary the level of diversification of these assets across markets, which allows us to disentangle the wealth effect from other sources of financial contagion. We provide evidence of contagion due to a wealth effect when investors have completely diversified portfolios. In this treatment, for certain ranges of fundamentals, we show that a coordination failure in the first market reduces investors' wealth, which makes them more likely to withdraw their investments in the second market, thereby increasing the probability of a crisis.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/228187
    Series: Working paper series / UCD Centre for Economic Research ; WP20, 07 (March 2020)
    Scope: 1 Online-Ressource (circa 40 Seiten), Illustrationen