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Non-Performing Loans

Determinants - Default - Divestiture
Authors:
Publisher:
 2019

Summary

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.

Bibliographic data

Copyright year
2019
ISBN-Print
978-3-8487-6506-5
ISBN-Online
978-3-7489-0592-9
Publisher
Nomos, Baden-Baden
Series
Nomos Universitätsschriften - Betriebswirtschaftslehre
Volume
7
Language
English
Pages
150
Product type
Book Titles

Table of contents

ChapterPages
  1. Titelei/Inhaltsverzeichnis No access 1 - 18
    1. 1.1 Problem definition and research objectives No access
    2. 1.2 Dissertation studies No access
    1. 2.1 Introduction No access
      1. 2.2.1 Object under investigation No access
      2. 2.2.2 Information retrieval No access
      3. 2.2.3 Descriptive analysis No access
        1. 2.3.1.1 Economic environment No access
        2. 2.3.1.2 Monetary aspects No access
        3. 2.3.1.3 Sovereign debt No access
        4. 2.3.1.4 Price levels No access
        5. 2.3.1.5 Terms of trade No access
        1. 2.3.2.1 Cost efficiency No access
        2. 2.3.2.2 Bank capitalization No access
        3. 2.3.2.3 Lending policy No access
        4. 2.3.2.4 Economics of information No access
        5. 2.3.2.5 Corporate governance No access
        1. 2.3.3.1 Terms of credit No access
        2. 2.3.3.2 Disaggregated loan aspects No access
        3. 2.3.3.3 Interaction with the real economy No access
        1. 2.4.1.1 Macroeconomic considerations No access
        2. 2.4.1.2 Bank-specific considerations No access
        3. 2.4.1.3 Loan-specific considerations No access
        1. 2.4.2.1 Research activity 1: direct research towards loan-specific events No access
        2. 2.4.2.2 Research activity 2: direct research towards interdisciplinary and disaggregate analysis of collateral, assets and borrowers No access
        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 No access
        4. 2.4.2.4 Research activity 4: direct research towards pro-cyclical application of available knowledge for prudent stress testing No access
        5. 2.4.2.5 Research activity 5: direct research towards a methodological discussion of possible issues of endogeneity in panel data sets No access
    1. 3.1 Introduction No access
    2. 3.2 Related literature and hypothesis development No access
      1. 3.3.1 Data No access
      2. 3.3.2 Methodology No access
      1. 3.4.1 Abnormal returns following NPL divestiture announcements No access
      2. 3.4.2 Real estate driven abnormal returns No access
      3. 3.4.3 Cross-sectional analysis of abnormal returns No access
      4. 3.4.4 Cross-sectional buy-side analysis No access
    5. 3.5 Conclusion No access
    1. 4.1. Introduction No access
    2. 4.2. Literature review and hypotheses development No access
      1. 4.3.1 Sample construction and event study methodology No access
      2. 4.3.2 Descriptive statistics No access
      1. 4.4.1 Abnormal returns following NPL divestiture No access
      2. 4.4.2 The impact of the introduction of CDS trading on NPL sales No access
      3. 4.4.3 NPL sales at TBTF-banks No access
    5. 4.5 Conclusion No access
    1. 5.1. Introduction No access
    2. 5.2. Sample construction and methodology No access
    3. 5.3. Results No access
    4. 5.4. Robustness tests No access
    5. 5.5. Conclusion and economic implications No access
  7. 6 Concluding remarks No access 124 - 128
  8. Appendix No access 129 - 138
  9. References No access 139 - 150

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