Auflistung Working Papers nach JEL-Klassifizierung "H81"
Anzeige der Dokumente 1-2 von 2
-
Debt Holder Monitoring and Implicit Guarantees: Did the BRRD Improve Market Discipline?
(2018-09-25)This paper argues that the introduction of the Banking Recovery and Resolution Directive (BRRD) improved market discipline in the European bank market for unsecured debt. The different impact of the BRRD on bank bonds ... -
The carrot and the stick: Bank bailouts and the disciplining role of board appointments
(2021-07-08)We empirically examine the Capital Purchase Program (CPP) used by the US government to bail out distressed banks with equity infusions during the Great Recession. We find strong evidence that a feature of the CPP - the ...