Bank , Kapitalstruktur , Vergleich , Industrie , Bankpolitik , Europäische Union , USA
Freie Schlagwörter (Englisch):
capital structure , corporate finance , leverage , bank capital , banking regulation
Abstract:
This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of large banks in the United States and Europe. We find a remarkable consistency in sign, significance and economic magnitude. Like non-financial firms, banks appear to have stable capital structures at levels that are specific to each individual bank. The results suggest that capital requirements may only be of second-order importance for banks’ capital structures and confirm the robustness of current corporate finance findings in a holdout sample of banks.
Zusätzliche Informationen:
Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.
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