Add to ORKGDo heightened capital requirements impose private costs on banks by adversely affecting their cost of capital? And if so, does the effect differ across different groups of banks? Using an international sample of listed banks over the period from 1990 to 2017, I find that equity investors adjust their expected return weakly in accordance with the Modigliani and Miller (1958) Theorem when banks decrease their leverage. The adjustment is stronger for smaller banks, banks that rely more on deposit financing and when debt is reduced rather than deposits, which never triggers a statistically significant adjustment. In any cases, the adjustment is not strong enough to keep banks' cost of capital constant which is estimated to increase by 10 to 40b...
Capital requirements for banks must balance a number of factors, including any effects on the cost o...
Using a sample of 178 publicly traded Bank Holding Companies (BHCs) in the period between 1994 and 2...
This paper studies the cost of equity and capital of three Bulgarian listed banks in the framework o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost ...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost ...
Traditional capital structure theory in frictionless and efficient markets predicts that reducing ba...
Traditional capital structure theory in frictionless and efficient markets predicts that reducing ba...
Capital requirements for banks must balance a number of factors, including any effects on the cost o...
Using a sample of 178 publicly traded Bank Holding Companies (BHCs) in the period between 1994 and 2...
This paper studies the cost of equity and capital of three Bulgarian listed banks in the framework o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost o...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost ...
Do heightened capital requirements impose private costs on banks by adversely affecting their cost ...
Traditional capital structure theory in frictionless and efficient markets predicts that reducing ba...
Traditional capital structure theory in frictionless and efficient markets predicts that reducing ba...
Capital requirements for banks must balance a number of factors, including any effects on the cost o...
Using a sample of 178 publicly traded Bank Holding Companies (BHCs) in the period between 1994 and 2...
This paper studies the cost of equity and capital of three Bulgarian listed banks in the framework o...