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Full-Text Articles in Business
Political Influence And Tarp Investments In Credit Unions, Elisabeta Pana, Linus Wilson
Political Influence And Tarp Investments In Credit Unions, Elisabeta Pana, Linus Wilson
Elisabeta Pana
About 48 credit unions received capital injections as part of the financial sector bailout. The predicted probability of receiving bailout funds jumps from 29% to 81% for the typical credit union, if the institution's headquarters was in the district of a member of the U. S. House Financial Services Committee (HFS). The credit unions receiving funds were significantly less likely to lend, contrary to the goals of the program. These results indicate that political influence may be an important determinant of which institutions receive taxpayer funds.
Determinants Of Dow Jones Returns, Elisabeta Pana, Cory Sloan, '12
Determinants Of Dow Jones Returns, Elisabeta Pana, Cory Sloan, '12
Elisabeta Pana
No abstract provided.
The Finance Behind Conference Realignment, Elisabeta Pana, Brian Piotrowski, '12
The Finance Behind Conference Realignment, Elisabeta Pana, Brian Piotrowski, '12
Elisabeta Pana
No abstract provided.
The Impact Of Internet-Based Services On Credit Unions: A Propensity Score Matching Approach, Elisabeta Pana, Sascha Vitzthum, David Willis
The Impact Of Internet-Based Services On Credit Unions: A Propensity Score Matching Approach, Elisabeta Pana, Sascha Vitzthum, David Willis
Elisabeta Pana
Credit unions focus their profit and capital management on the tradeoff between providing immediate financial benefits to members and augmenting their institutional well-being through capital accumulation. In this study, we investigate the changes in benefits to credit union members via the interest-rate spread around the adoptions of internet-based services for the period of 2000–2009. Using the propensity score matching method, we show that adopters offer a less favorable interest-rate spread to their members than non-adopters. However, we find evidence that early adopters have a lower degree of market power in dealing with their members than late adopters and offer interest-rate …
Qep And Bank Liquidity Creation: Evidence From Japan, Elisabeta Pana
Qep And Bank Liquidity Creation: Evidence From Japan, Elisabeta Pana
Elisabeta Pana
The 2001-2006 Japanese quantitative easing policy (QEP) represents the most prominent example of unconventional monetary policy used prior to the recent financial crisis. This paper contributes to the current debate over the effectiveness of Japan’s QEP by documenting the changes in absolute amount of liquidity created by Japanese banks during the period of 2001-2007. Using the liquidity creation measure developed by Berger and Bouwman (2009), we document the impact of macroeconomic factors and bank characteristic on liquidity creation. The analysis is conducted in a multivariate dynamic panel regression framework using a dataset comprised of 120 Japanese banks containing balance sheet …