The determinants of capital structure: Some evidence from banks


Gropp, Reint ; Heider, Florian


[img]
Preview
PDF
dp08015.pdf - Published

Download (443kB)

URL: http://ub-madoc.bib.uni-mannheim.de/1918
URN: urn:nbn:de:bsz:180-madoc-19189
Document Type: Working paper
Year of publication: 2008
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: G21 G32 ,
Subject headings (SWD): Bank , Kapitalstruktur , Vergleich , Industrie , Bankpolitik , Europäische Union , USA
Keywords (English): 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.
Additional information:

Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




+ Citation Example and Export

Gropp, Reint ; Heider, Florian (2008) The determinants of capital structure: Some evidence from banks. Open Access [Working paper]
[img]
Preview


+ Search Authors in

+ Download Statistics

Downloads per month over past year

View more statistics



You have found an error? Please let us know about your desired correction here: E-Mail


Actions (login required)

Show item Show item