Essays in banking and international finance

Larissa Schäfer

Research output: ThesisDoctoral ThesisScientific

465 Downloads (Pure)

Abstract

This thesis consists of three chapters, two in banking and one in international finance. The first two chapters examine how bank business models and foreign ownership structures affect bank-firm lending relationships. In particular, the first chapter reveals that foreign banks can overcome their informational disadvantage and lend to the same clientele as domestic banks with asset-based lending, shorter maturities, and credit scoring models, while domestic banks rely on relationship lending. The second chapter presents empirical evidence that relationship lending serves as a liquidity insurance for firms in distress, tolerating temporary bad results, yet extracting rents in the long run. The last chapter provides a comprehensive and detailed analysis of Central and Eastern European equity markets from the mid-1990s until now and evaluates the value of investing in these markets for global investors.
Original languageEnglish
QualificationDoctor of Philosophy
Awarding Institution
  • Tilburg University
Supervisors/Advisors
  • Ioannidou, V., Promotor
  • Baele, Lieven, Co-promotor
Award date2 Nov 2015
Place of PublicationTilburg
Publisher
Print ISBNs978 90 5668 461 7
Publication statusPublished - 2015

Fingerprint

International finance
Banking
Relationship lending
Investing
Business model
Maturity
Investors
Foreign ownership
Clientele
Credit scoring
Ownership structure
Empirical evidence
Liquidity
Assets
Lending relationships
Foreign banks
Insurance
Lending
Equity markets
Disadvantage

Cite this

Schäfer, L. (2015). Essays in banking and international finance. Tilburg: CentER, Center for Economic Research.
Schäfer, Larissa. / Essays in banking and international finance. Tilburg : CentER, Center for Economic Research, 2015. 197 p.
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Schäfer, L 2015, 'Essays in banking and international finance', Doctor of Philosophy, Tilburg University, Tilburg.

Essays in banking and international finance. / Schäfer, Larissa.

Tilburg : CentER, Center for Economic Research, 2015. 197 p.

Research output: ThesisDoctoral ThesisScientific

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T1 - Essays in banking and international finance

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PY - 2015

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N2 - This thesis consists of three chapters, two in banking and one in international finance. The first two chapters examine how bank business models and foreign ownership structures affect bank-firm lending relationships. In particular, the first chapter reveals that foreign banks can overcome their informational disadvantage and lend to the same clientele as domestic banks with asset-based lending, shorter maturities, and credit scoring models, while domestic banks rely on relationship lending. The second chapter presents empirical evidence that relationship lending serves as a liquidity insurance for firms in distress, tolerating temporary bad results, yet extracting rents in the long run. The last chapter provides a comprehensive and detailed analysis of Central and Eastern European equity markets from the mid-1990s until now and evaluates the value of investing in these markets for global investors.

AB - This thesis consists of three chapters, two in banking and one in international finance. The first two chapters examine how bank business models and foreign ownership structures affect bank-firm lending relationships. In particular, the first chapter reveals that foreign banks can overcome their informational disadvantage and lend to the same clientele as domestic banks with asset-based lending, shorter maturities, and credit scoring models, while domestic banks rely on relationship lending. The second chapter presents empirical evidence that relationship lending serves as a liquidity insurance for firms in distress, tolerating temporary bad results, yet extracting rents in the long run. The last chapter provides a comprehensive and detailed analysis of Central and Eastern European equity markets from the mid-1990s until now and evaluates the value of investing in these markets for global investors.

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T3 - CentER Dissertation Series

PB - CentER, Center for Economic Research

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Schäfer L. Essays in banking and international finance. Tilburg: CentER, Center for Economic Research, 2015. 197 p. (CentER Dissertation Series).