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[null,"1.","Record Nr.",null,"UNINA9910959157103321"]
[null,null,"Autore",null,"Claessens Stijn"]
[null,null,"Titolo",null,"The Impact of the Global Financial Crisis on Banking Globalization / / Stijn Claessens, Neeltje Horen"]
[null,null,"Pubbl/distr/stampa",null,"Washington, D.C. : , : International Monetary Fund, , 2014"]
[null,null,"ISBN",null,"9781498372732"]
[{"$nulls":4},"1498372732"]
[{"$nulls":4},"9781498334587"]
[{"$nulls":4},"149833458X"]
[null,null,"Edizione",null,"[1st ed.]"]
[null,null,"Descrizione fisica",null,"1 online resource (51 p.)"]
[null,null,"Collana",null,"IMF Working Papers"]
[null,null,"Disciplina",null,"332.1"]
[null,null,"Soggetti",null,"Banks and banking"]
[{"$nulls":4},"Bank loans"]
[{"$nulls":4},"International finance"]
[{"$nulls":4},"Globalization - Economic aspects"]
[{"$nulls":4},"Global Financial Crisis, 2008-2009"]
[{"$nulls":4},"Banks and Banking"]
[{"$nulls":4},"Finance: General"]
[{"$nulls":4},"Money and Monetary Policy"]
[{"$nulls":4},"International Investment"]
[{"$nulls":4},"Long-term Capital Movements"]
[{"$nulls":4},"Multinational Firms"]
[{"$nulls":4},"International Business"]
[{"$nulls":4},"Banks"]
[{"$nulls":4},"Depository Institutions"]
[{"$nulls":4},"Micro Finance Institutions"]
[{"$nulls":4},"Mortgages"]
[{"$nulls":4},"General Financial Markets: General (includes Measurement and Data)"]
[{"$nulls":4},"Monetary Policy, Central Banking, and the Supply of Money and Credit: General"]
[{"$nulls":4},"International Lending and Debt Problems"]
[{"$nulls":4},"Banking"]
[{"$nulls":4},"Finance"]
[{"$nulls":4},"Monetary economics"]
[{"$nulls":4},"Foreign banks"]
[{"$nulls":4},"Emerging and frontier financial markets"]
[{"$nulls":4},"Bank credit"]
[{"$nulls":4},"Commercial banks"]
[{"$nulls":4},"Financial institutions"]
[{"$nulls":4},"Financial markets"]
[{"$nulls":4},"Money"]
[{"$nulls":4},"Cross-border banking"]
[{"$nulls":4},"Financial services"]
[{"$nulls":4},"Banks and banking, Foreign"]
[{"$nulls":4},"Financial services industry"]
[{"$nulls":4},"Credit"]
[{"$nulls":4},"United States"]
[null,null,"Lingua di pubblicazione",null,"Inglese"]
[null,null,"Formato",null,"Materiale a stampa"]
[null,null,null,"Livello bibliografico","Monografia"]
[null,null,null,"Note generali","Includes index."]
[null,null,"Nota di contenuto",null,"Cover; Abstract; Contents; I. Introduction; II. Data; III. The global banking system before and after the financial crisis; A. State of foreign banking at the onset of the global financial crisis; B. The impact of the global financial crisis; IV. Drivers behind the shifts in global banking; A. Methodology; B. Empirical results; V. Local lending by foreign banks and cross-border banking; A. Data and basic statistics; B. Drivers behind loan growth of foreign banks and cross-border loans; VI. Conclusions; References; Figures; 1. Number and share of foreign banks, 1995-2013"]
[{"$nulls":4},"2. Number of entries and exits of foreign banks, 1995-20133. Number of foreign banks by home country income group, 1995-2013; 4. Number of net entries by home country income group; 5. Share regional foreign banks before and after the crisis, by home country income group; 6. Change share foreign assets, 2007-2012; 7. Comparison growth local and cross-border lending, 2007-2012; Tables; 1. Number and assets of banks by host country, Aggregates by income level and region; 2. Number of foreign banks by home country, Aggregates by income level and region; 3. Drivers behind transformation"]
[{"$nulls":4},"4. Drivers behind transformation, OECD versus non-OECD home countries5. Local versus cross-border local lending, level and growth comparison; 6. Drivers behind growth local and cross-border lending; Appendix; Figure 1; Table 1; Table 2; Table 3"]
[null,null,null,"Sommario/riassunto","Although cross-border bank lending has fallen sharply since the crisis, extending our bank ownership database from 1995-2009 up to 2013 shows only limited retrenchment in foreign bank presence. While banks from OECD countries reduced their foreign presence (but still represent 89% of foreign bank assets), those from emerging markets and developing countries expanded abroad and doubled their presence. Especially advanced countries hit by a systemic crisis reduced their presence abroad, with far flung and relatively small investments more likely to be sold. Poorer and slower growing countries host fewer banks today, while large investments less likely expanded. Conversely, faster host countries’ growth and closeness to potential investors meant more entry. Lending by foreign banks locally grew more than cross-border bank claims did for the same home-host country combination, and each was driven by different factors. Altogether, our evidence shows that global banking is not becoming more fragmented, but rather is going through some important structural transformations with a greater variety of players and a more regional focus."]
[null,"2.","Record Nr.",null,"UNINA9910970497703321"]
[null,null,"Autore",null,"Chan-Lau Jorge"]
[null,null,"Titolo",null,"Is Systematic Default Risk Priced in Equity Returns? A Cross-Sectional Analysis Using Credit Derivatives Prices / / Jorge Chan-Lau"]
[null,null,"Pubbl/distr/stampa",null,"Washington, D.C. : , : International Monetary Fund, , 2006"]
[null,null,"ISBN",null,"9786613820563"]
[{"$nulls":4},"9781462374021"]
[{"$nulls":4},"1462374026"]
[{"$nulls":4},"9781452753171"]
[{"$nulls":4},"1452753172"]
[{"$nulls":4},"9781282392137"]
[{"$nulls":4},"1282392131"]
[{"$nulls":4},"9781452702544"]
[{"$nulls":4},"1452702543"]
[null,null,"Edizione",null,"[1st ed.]"]
[null,null,"Descrizione fisica",null,"1 online resource (18 p.)"]
[null,null,"Collana",null,"IMF Working Papers"]
[null,null,"Soggetti",null,"Corporations - Valuation - Econometric models"]
[{"$nulls":4},"Credit derivatives - Prices - Econometric models"]
[{"$nulls":4},"Default (Finance) - Econometric models"]
[{"$nulls":4},"Risk - Econometric models"]
[{"$nulls":4},"Business enterprises"]
[{"$nulls":4},"Corporate Finance and Governance: General"]
[{"$nulls":4},"Corporate Finance"]
[{"$nulls":4},"Corporate sector"]
[{"$nulls":4},"Credit default swap"]
[{"$nulls":4},"Credit"]
[{"$nulls":4},"Debt default"]
[{"$nulls":4},"Debts, External"]
[{"$nulls":4},"Exports and Imports"]
[{"$nulls":4},"Financial Instruments"]
[{"$nulls":4},"Institutional Investors"]
[{"$nulls":4},"International economics"]
[{"$nulls":4},"International Lending and Debt Problems"]
[{"$nulls":4},"Investment & securities"]
[{"$nulls":4},"Investments: Stocks"]
[{"$nulls":4},"Monetary economics"]
[{"$nulls":4},"Monetary Policy, Central Banking, and the Supply of Money and Credit: General"]
[{"$nulls":4},"Money and Monetary Policy"]
[{"$nulls":4},"Non-bank Financial Institutions"]
[{"$nulls":4},"Ownership & organization of enterprises"]
[{"$nulls":4},"Pension Funds"]
[{"$nulls":4},"Stocks"]
[{"$nulls":4},"United States"]
[null,null,"Lingua di pubblicazione",null,"Inglese"]
[null,null,"Formato",null,"Materiale a stampa"]
[null,null,null,"Livello bibliografico","Monografia"]
[null,null,null,"Note generali","\"June 2006.\""]
[null,null,null,"Nota di bibliografia","Includes bibliographical references."]
[null,null,"Nota di contenuto",null,"\"\"Contents\"\"; \"\"I. INTRODUCTION\"\"; \"\"II. EQUITY RETURNS AND SYSTEMATIC DEFAULT RISK\"\"; \"\"III. EXTRACTING SYSTEMATIC DEFAULT RISK MEASURES FROM CREDIT DERIVATIVES PRICES\"\"; \"\"IV. IS SYSTEMATIC DEFAULT RISK PRICED IN EQUITY RETURNS?\"\"; \"\"V. CONCLUSIONS\"\"; \"\"REFERENCES\"\""]
[null,null,null,"Sommario/riassunto","This paper finds that systematic default risk, or the event of widespread defaults in the corporate sector, is an important determinant of equity returns. Moreover, the market price of systematic default risk is one order of magnitude higher than the market price of other risk factors. In contrast to studies by Fama and French (1993, 1996 ) and Vassalou and Xing (2004), this paper uses a market-based measure of systematic default risk. The measure is constructed using price information from credit derivatives prices, namely the spreads of standardized single-tranche collateralized debt obligations on credit derivatives indices."]