دانلود رایگان مقاله لاتین اثر نوآوری مالی ریسک بانک از سایت الزویر
عنوان فارسی مقاله:
تاثیر نوآوری مالی بر ریسک بانک های اروپایی
عنوان انگلیسی مقاله:
The effect of financial innovation on European banks' risk
سال انتشار : 2016
برای دانلود رایگان مقاله اثر نوآوری مالی ریسک بانک اینجا کلیک نمایید.
بخشی از مقاله انگلیسی:
3. Method
To analyze the effects of securitization and credit derivatives on European banks' overall risk and credit risk, the study considered a database from the consolidated financial statements, annual accounts, and Pillar 3 disclosure documents of 134 listed European banks during the period of 2006–2010. For testing securitization, the study followed Michalak and Uhde (2009) and built a database that contains the outstanding balance of securitized assets included in the annual accounts or in the published Pillar 3 disclosure documents. For the study of credit derivatives, the study followed Shao and Yeager (2007) and Minton et al. (2009) and used the total notional amount of credit protection bought and sold as a proxy for the use of derivatives. In addition, the study adopted Norden et al.'s (2011) proposal to also consider the gross positions. 3.1. Dependent variables For a more exhaustive analysis, the study considered two measures representing bankruptcy risk. Drawing from the market, the study uses the expected default frequency (EDF), and the Z-score building on accounting information. With both variables, the study aims to evaluate whether the use of credit derivatives or securitization affects accounting and market measures. The expected results were that the market could sometimes consider risks that are not apparent from fi- nancial statements and vice versa. In particular, the study considered the one-year probability of default using Moody's EDF measure, in line with other empirical work (Agrawal, Arora, & Bohn, 2004; Bohn, 2000; Eichler & Sobański, 2012). Alternatively, others use the Z-score as a dependent variable; this ratio is a very common risk measure (Boyd & Runkle, 1993; De Nicoló, Bartholomew, Zaman, & Zephirin, 2004; Michalak & Uhde, 2009), since the ratio represents the inverse of the probability of a bank's insolvency. The Z-score ratio also measures the distance to insolvency drawing from accounting data.
برای دانلود رایگان مقاله اثر نوآوری مالی ریسک بانک اینجا کلیک نمایید.
کلمات کلیدی:
European banks risk lagging Wall Street in blockchain race | Reuters www.reuters.com/article/us-banks-tech-blockchain-idUSKCN12J22L Oct 19, 2016 - European banks risk lagging Wall Street in blockchain race .... UBS is regarded in the industry as one of the most innovative European banks. [PDF]Innovation and performance of European banks adopting Internet https://www.cass.city.ac.uk/__data/assets/pdf_file/0011/77816/CBR-WP04-10.pdf by F Arnaboldi - Cited by 3 - Related articles Innovation and performance of European banks adopting Internet. *. Francesca .... Larger banks can also more easily assume the business risk of running an IB. Europe | Bank Innovation bankinnovation.net/tag/europe/ BLender Secures E-Money License in Lithuania, Paving Way to Europe ... regulation — appears to pushing European banks to innovation, but perhaps not in ... risk management unit in New York, the company is also stretching out its cre. Bank Risk, Governance and Regulation https://books.google.com/books?isbn=1137530944 Elena Beccalli, Federica Poli - 2015 - Business & Economics As a consequence, prospective risk management could not be really ... financial innovation in 81 listed commercial banks in Europe and the United States from ... Without banking reform, investing in innovation is too great a risk ... https://www.theguardian.com › Opinion › Research and development Sep 11, 2012 - Everyone seems to be for innovation. Innovation-led growth is the mantra of the European commission, the OECD, and politicians like Obama ... Bank competition and financial stability: The role of financial ... - Vox EU voxeu.org/article/bank-competition-and-financial-stability-role-financial-innovation Feb 3, 2017 - The effects of innovation and competition on financial stability ... innovation might augment the negative effect of competition on bank risk.
