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Monographie Kein Zugriff

Non-Performing Loans

Determinants - Default - Divestiture
Autor:innen:
Verlag:
 2019

Zusammenfassung

Diese Arbeit nimmt die aktuellen Leitlinien der Europäischen Aufsichtsbehörden zum Umgang mit notleidenden Krediten (NPL) zum Anlass, die Wirksamkeit der bereits genutzten und darin vorgeschlagenen Mechanismen anhand von vier wissenschaftlichen Studien zu beleuchten. Im Rahmen eines systematischen Literaturüberblicks werden zunächst die Determinanten der mit dem Terminus NPL beschriebenen Situation auf makroökonomischer, Bank- und Kreditebene untersucht. Im Anschluss betrachten drei empirische Analysen die Marktreaktionen auf Abwicklungsankündigungen notleidender Assets im Europäischen Aktien- und Fremdkapitalmarkt. Die Ergebnisse präsentieren der Bankenindustrie sowie dem Leitliniengeber und seinen Mitgliedstaaten einen nuancierten Impuls, wie in Zeiten sich stetig ändernder ökonomischer Rahmenbedingungen mit einem hohen Bestand an notleidenden Vermögenswerten umgegangen werden kann.

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Bibliographische Angaben

Copyrightjahr
2019
ISBN-Print
978-3-8487-6506-5
ISBN-Online
978-3-7489-0592-9
Verlag
Nomos, Baden-Baden
Reihe
Nomos Universitätsschriften - Betriebswirtschaftslehre
Band
7
Sprache
Englisch
Seiten
150
Produkttyp
Monographie

Inhaltsverzeichnis

KapitelSeiten
  1. Titelei/Inhaltsverzeichnis Kein Zugriff 1 - 18
    1. 1.1 Problem definition and research objectives Kein Zugriff
    2. 1.2 Dissertation studies Kein Zugriff
    1. 2.1 Introduction Kein Zugriff
      1. 2.2.1 Object under investigation Kein Zugriff
      2. 2.2.2 Information retrieval Kein Zugriff
      3. 2.2.3 Descriptive analysis Kein Zugriff
        1. 2.3.1.1 Economic environment Kein Zugriff
        2. 2.3.1.2 Monetary aspects Kein Zugriff
        3. 2.3.1.3 Sovereign debt Kein Zugriff
        4. 2.3.1.4 Price levels Kein Zugriff
        5. 2.3.1.5 Terms of trade Kein Zugriff
        1. 2.3.2.1 Cost efficiency Kein Zugriff
        2. 2.3.2.2 Bank capitalization Kein Zugriff
        3. 2.3.2.3 Lending policy Kein Zugriff
        4. 2.3.2.4 Economics of information Kein Zugriff
        5. 2.3.2.5 Corporate governance Kein Zugriff
        1. 2.3.3.1 Terms of credit Kein Zugriff
        2. 2.3.3.2 Disaggregated loan aspects Kein Zugriff
        3. 2.3.3.3 Interaction with the real economy Kein Zugriff
        1. 2.4.1.1 Macroeconomic considerations Kein Zugriff
        2. 2.4.1.2 Bank-specific considerations Kein Zugriff
        3. 2.4.1.3 Loan-specific considerations Kein Zugriff
        1. 2.4.2.1 Research activity 1: direct research towards loan-specific events Kein Zugriff
        2. 2.4.2.2 Research activity 2: direct research towards interdisciplinary and disaggregate analysis of collateral, assets and borrowers Kein Zugriff
        3. 2.4.2.3 Research activity 3: why do some countries perform better than others? Application of existing theories to different regions, political systems and country clusters Kein Zugriff
        4. 2.4.2.4 Research activity 4: direct research towards pro-cyclical application of available knowledge for prudent stress testing Kein Zugriff
        5. 2.4.2.5 Research activity 5: direct research towards a methodological discussion of possible issues of endogeneity in panel data sets Kein Zugriff
    1. 3.1 Introduction Kein Zugriff
    2. 3.2 Related literature and hypothesis development Kein Zugriff
      1. 3.3.1 Data Kein Zugriff
      2. 3.3.2 Methodology Kein Zugriff
      1. 3.4.1 Abnormal returns following NPL divestiture announcements Kein Zugriff
      2. 3.4.2 Real estate driven abnormal returns Kein Zugriff
      3. 3.4.3 Cross-sectional analysis of abnormal returns Kein Zugriff
      4. 3.4.4 Cross-sectional buy-side analysis Kein Zugriff
    5. 3.5 Conclusion Kein Zugriff
    1. 4.1. Introduction Kein Zugriff
    2. 4.2. Literature review and hypotheses development Kein Zugriff
      1. 4.3.1 Sample construction and event study methodology Kein Zugriff
      2. 4.3.2 Descriptive statistics Kein Zugriff
      1. 4.4.1 Abnormal returns following NPL divestiture Kein Zugriff
      2. 4.4.2 The impact of the introduction of CDS trading on NPL sales Kein Zugriff
      3. 4.4.3 NPL sales at TBTF-banks Kein Zugriff
    5. 4.5 Conclusion Kein Zugriff
    1. 5.1. Introduction Kein Zugriff
    2. 5.2. Sample construction and methodology Kein Zugriff
    3. 5.3. Results Kein Zugriff
    4. 5.4. Robustness tests Kein Zugriff
    5. 5.5. Conclusion and economic implications Kein Zugriff
  7. 6 Concluding remarks Kein Zugriff 124 - 128
  8. Appendix Kein Zugriff 129 - 138
  9. References Kein Zugriff 139 - 150

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