Publisher: Springer-Verlag (Total: 2626 journals)

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Showing 1 - 200 of 2626 Journals sorted by number of followers
Information Retrieval     Hybrid Journal   (Followers: 797, SJR: 0.352, CiteScore: 2)
Intl. J. on Digital Libraries     Hybrid Journal   (Followers: 784, SJR: 0.441, CiteScore: 2)
Trends in Organized Crime     Hybrid Journal   (Followers: 541, SJR: 0.26, CiteScore: 1)
Crime, Law and Social Change     Hybrid Journal   (Followers: 504, SJR: 0.357, CiteScore: 1)
J. of Police and Criminal Psychology     Hybrid Journal   (Followers: 432, SJR: 0.35, CiteScore: 1)
Diabetologia     Hybrid Journal   (Followers: 346, SJR: 3.228, CiteScore: 5)
Innovative Higher Education     Hybrid Journal   (Followers: 322, SJR: 0.586, CiteScore: 1)
Natural Hazards     Hybrid Journal   (Followers: 305, SJR: 0.767, CiteScore: 2)
Gyroscopy and Navigation     Hybrid Journal   (Followers: 252, SJR: 0.292, CiteScore: 1)
Biodiversity and Conservation     Open Access   (Followers: 244, SJR: 1.243, CiteScore: 3)
Dysphagia     Hybrid Journal   (Followers: 204, SJR: 0.99, CiteScore: 2)
Higher Education     Hybrid Journal   (Followers: 201, SJR: 1.782, CiteScore: 2)
Pharmaceutical Research     Hybrid Journal   (Followers: 188, SJR: 1.077, CiteScore: 3)
Archives and Museum Informatics     Hybrid Journal   (Followers: 184, SJR: 0.101, CiteScore: 0)
European J. of Information Systems     Hybrid Journal   (Followers: 173, SJR: 1.628, CiteScore: 4)
Crime Prevention and Community Safety     Hybrid Journal   (Followers: 165, SJR: 0.268, CiteScore: 1)
Space Science Reviews     Hybrid Journal   (Followers: 95, SJR: 3.262, CiteScore: 7)
J. of Autism and Developmental Disorders     Hybrid Journal   (Followers: 91, SJR: 1.81, CiteScore: 4)
Intensive Care Medicine     Hybrid Journal   (Followers: 77, SJR: 3.293, CiteScore: 4)
Ethics and Information Technology     Hybrid Journal   (Followers: 72, SJR: 0.512, CiteScore: 2)
Education and Information Technologies     Hybrid Journal   (Followers: 71, SJR: 0.403, CiteScore: 1)
Archival Science     Hybrid Journal   (Followers: 70, SJR: 0.745, CiteScore: 2)
Applied Microbiology and Biotechnology     Hybrid Journal   (Followers: 70, SJR: 1.182, CiteScore: 4)
Landscape Ecology     Hybrid Journal   (Followers: 66, SJR: 1.858, CiteScore: 4)
European J. of Law and Economics     Hybrid Journal   (Followers: 65, SJR: 0.375, CiteScore: 1)
J. of Archaeological Method and Theory     Hybrid Journal   (Followers: 64, SJR: 2.014, CiteScore: 3)
Marine Biology     Hybrid Journal   (Followers: 63, SJR: 1.085, CiteScore: 2)
Climatic Change     Open Access   (Followers: 62, SJR: 2.035, CiteScore: 4)
J. of Information Technology     Hybrid Journal   (Followers: 61, SJR: 1.752, CiteScore: 4)
Machine Learning     Hybrid Journal   (Followers: 60, SJR: 0.695, CiteScore: 3)
Research in Higher Education     Hybrid Journal   (Followers: 60, SJR: 1.702, CiteScore: 2)
Educational Technology Research and Development     Partially Free   (Followers: 60)
J. of Experimental Criminology     Hybrid Journal   (Followers: 59, SJR: 2.639, CiteScore: 4)
Cambridge journal of evidence-based policing     Hybrid Journal   (Followers: 58)
Oecologia     Hybrid Journal   (Followers: 58, SJR: 1.695, CiteScore: 3)
J. of the Indian Society of Remote Sensing     Hybrid Journal   (Followers: 57, SJR: 0.337, CiteScore: 1)
Advances in Data Analysis and Classification     Hybrid Journal   (Followers: 57, SJR: 1.09, CiteScore: 1)
J. of Business Ethics     Hybrid Journal   (Followers: 56, SJR: 1.276, CiteScore: 3)
Intl. J. for Philosophy of Religion     Hybrid Journal   (Followers: 56, SJR: 0.354, CiteScore: 0)
Experimental Techniques     Hybrid Journal   (Followers: 54, SJR: 0.296, CiteScore: 1)
Earth, Moon, and Planets     Hybrid Journal   (Followers: 54, SJR: 0.63, CiteScore: 1)
Applied Composite Materials     Hybrid Journal   (Followers: 53, SJR: 0.58, CiteScore: 2)
J. of Archaeological Research     Hybrid Journal   (Followers: 50, SJR: 2.159, CiteScore: 4)
Advances in Polymer Science     Hybrid Journal   (Followers: 50, SJR: 1.04, CiteScore: 3)
Memory & Cognition     Hybrid Journal   (Followers: 49, SJR: 1.379, CiteScore: 2)
J. of Earth System Science     Open Access   (Followers: 49, SJR: 0.366, CiteScore: 1)
Canadian J. of Anesthesia/J. canadien d'anesth├ęsie     Hybrid Journal   (Followers: 48, SJR: 0.908, CiteScore: 2)
European J. of Applied Physiology     Hybrid Journal   (Followers: 48, SJR: 1.186, CiteScore: 2)
J. of Astrophysics and Astronomy     Open Access   (Followers: 48, SJR: 0.266, CiteScore: 0)
Environmental Management     Open Access   (Followers: 48, SJR: 0.921, CiteScore: 2)
Contemporary Political Theory     Hybrid Journal   (Followers: 48, SJR: 0.331, CiteScore: 0)
Intl. J. of Historical Archaeology     Hybrid Journal   (Followers: 47, SJR: 0.427, CiteScore: 1)
J. of Intl. Business Studies     Hybrid Journal   (Followers: 45, SJR: 5.198, CiteScore: 7)
Demography     Hybrid Journal   (Followers: 44, SJR: 2.345, CiteScore: 3)
Astrophysics and Space Science     Hybrid Journal   (Followers: 44, SJR: 0.616, CiteScore: 1)
Water Resources Management     Open Access   (Followers: 43, SJR: 1.185, CiteScore: 3)
Bulletin of Materials Science     Open Access   (Followers: 43, SJR: 0.31, CiteScore: 1)
Comparative European Politics     Hybrid Journal   (Followers: 43, SJR: 1.24, CiteScore: 2)
IMF Economic Review     Hybrid Journal   (Followers: 42, SJR: 3.287, CiteScore: 2)
Qualitative Sociology     Hybrid Journal   (Followers: 42, SJR: 0.984, CiteScore: 1)
Advances in Atmospheric Sciences     Hybrid Journal   (Followers: 42, SJR: 0.956, CiteScore: 2)
Climate Dynamics     Hybrid Journal   (Followers: 42, SJR: 2.445, CiteScore: 4)
Applied Biochemistry and Biotechnology     Hybrid Journal   (Followers: 42, SJR: 0.571, CiteScore: 2)
J. of Family Violence     Hybrid Journal   (Followers: 41, SJR: 0.679, CiteScore: 1)
Metallurgical and Materials Transactions A     Hybrid Journal   (Followers: 41, SJR: 1.093, CiteScore: 2)
European Political Science     Hybrid Journal   (Followers: 41, SJR: 0.25, CiteScore: 0)
Foundations of Physics     Hybrid Journal   (Followers: 41, SJR: 0.454, CiteScore: 1)
Educational Psychology Review     Hybrid Journal   (Followers: 41, SJR: 2.204, CiteScore: 4)
Scientometrics     Hybrid Journal   (Followers: 40, SJR: 1.125, CiteScore: 3)
Economia Politica     Hybrid Journal   (Followers: 40, SJR: 0.277, CiteScore: 1)
Mindfulness     Hybrid Journal   (Followers: 40, SJR: 1.132, CiteScore: 3)
Data Mining and Knowledge Discovery     Hybrid Journal   (Followers: 40, SJR: 0.864, CiteScore: 4)
Intl. J. of Earth Sciences     Hybrid Journal   (Followers: 40, SJR: 1.125, CiteScore: 2)
European J. of Nutrition     Hybrid Journal   (Followers: 39, SJR: 1.408, CiteScore: 3)
Experimental Astronomy     Hybrid Journal   (Followers: 38, SJR: 0.908, CiteScore: 2)
J. of World Prehistory     Hybrid Journal   (Followers: 38, SJR: 2.022, CiteScore: 3)
European J. of Health Economics     Hybrid Journal   (Followers: 38, SJR: 1.153, CiteScore: 2)
Environmental Monitoring and Assessment     Hybrid Journal   (Followers: 38, SJR: 0.589, CiteScore: 2)
Environment, Development and Sustainability     Hybrid Journal   (Followers: 38, SJR: 0.392, CiteScore: 1)
Aquatic Ecology     Hybrid Journal   (Followers: 38, SJR: 0.656, CiteScore: 2)
Behavioral Ecology and Sociobiology     Hybrid Journal   (Followers: 38, SJR: 1.323, CiteScore: 2)
Metal Science and Heat Treatment     Hybrid Journal   (Followers: 37, SJR: 0.279, CiteScore: 0)
Annals of Finance     Hybrid Journal   (Followers: 37, SJR: 0.579, CiteScore: 1)
European J. of Clinical Microbiology & Infectious Diseases     Hybrid Journal   (Followers: 37, SJR: 1.312, CiteScore: 3)
Advances in Health Sciences Education     Hybrid Journal   (Followers: 36, SJR: 1.64, CiteScore: 2)
Intl. Politics     Hybrid Journal   (Followers: 35, SJR: 0.728, CiteScore: 1)
European J. of Epidemiology     Hybrid Journal   (Followers: 35, SJR: 3.228, CiteScore: 6)
J. of Thrombosis and Thrombolysis     Hybrid Journal   (Followers: 35, SJR: 0.991, CiteScore: 2)
JOM J. of the Minerals, Metals and Materials Society     Hybrid Journal   (Followers: 35, SJR: 1.054, CiteScore: 2)
Forensic Science, Medicine, and Pathology     Hybrid Journal   (Followers: 35, SJR: 0.695, CiteScore: 1)
Solar Physics     Hybrid Journal   (Followers: 34, SJR: 1.517, CiteScore: 3)
Reviews in Fish Biology and Fisheries     Open Access   (Followers: 34, SJR: 1.8, CiteScore: 4)
Accreditation and Quality Assurance: J. for Quality, Comparability and Reliability in Chemical Measurement     Hybrid Journal   (Followers: 34, SJR: 0.316, CiteScore: 1)
Biotechnology Letters     Hybrid Journal   (Followers: 34, SJR: 0.621, CiteScore: 2)
Italian Economic J.     Hybrid Journal   (Followers: 33, SJR: 0.181, CiteScore: 0)
J. of Economic Growth     Hybrid Journal   (Followers: 33, SJR: 5.529, CiteScore: 5)
Political Behavior     Hybrid Journal   (Followers: 33, SJR: 2.708, CiteScore: 2)
Ecosystems     Hybrid Journal   (Followers: 33, SJR: 2.081, CiteScore: 4)
Child and Adolescent Social Work J.     Hybrid Journal   (Followers: 33, SJR: 0.444, CiteScore: 1)
J. of the American Society for Mass Spectrometry     Hybrid Journal   (Followers: 32, SJR: 1.058, CiteScore: 3)
Metallurgical and Materials Transactions B     Hybrid Journal   (Followers: 32)
J. of Risk and Uncertainty     Hybrid Journal   (Followers: 32, SJR: 1.471, CiteScore: 2)
AAPS J.     Hybrid Journal   (Followers: 32, SJR: 1.118, CiteScore: 4)
Academic Psychiatry     Full-text available via subscription   (Followers: 32, SJR: 0.53, CiteScore: 1)
J. of Quantitative Criminology     Hybrid Journal   (Followers: 32, SJR: 3.562, CiteScore: 4)
American J. of Community Psychology     Hybrid Journal   (Followers: 32, SJR: 1.329, CiteScore: 2)
Analytical and Bioanalytical Chemistry     Hybrid Journal   (Followers: 32, SJR: 0.978, CiteScore: 3)
Der Onkologe     Hybrid Journal   (Followers: 32, SJR: 0.119, CiteScore: 0)
Australian Educational Researcher     Hybrid Journal   (Followers: 31, SJR: 0.675, CiteScore: 1)
Higher Education Policy     Hybrid Journal   (Followers: 31, SJR: 0.652, CiteScore: 1)
Motivation and Emotion     Hybrid Journal   (Followers: 31, SJR: 1.136, CiteScore: 2)
J. of Population Economics     Hybrid Journal   (Followers: 31, SJR: 1.574, CiteScore: 2)
Plant Ecology     Hybrid Journal   (Followers: 31, SJR: 0.914, CiteScore: 2)
Transportation     Hybrid Journal   (Followers: 30, SJR: 1.911, CiteScore: 3)
GPS Solutions     Hybrid Journal   (Followers: 30, SJR: 1.674, CiteScore: 5)
Clinical Social Work J.     Hybrid Journal   (Followers: 30, SJR: 0.498, CiteScore: 1)
Current Diabetes Reports     Hybrid Journal   (Followers: 30, SJR: 1.618, CiteScore: 4)
Boundary-Layer Meteorology     Hybrid Journal   (Followers: 30, SJR: 1.262, CiteScore: 2)
Resonance     Hybrid Journal   (Followers: 29, SJR: 0.15, CiteScore: 0)
CEAS Aeronautical J.     Hybrid Journal   (Followers: 29, SJR: 0.248, CiteScore: 1)
Information Systems Frontiers     Hybrid Journal   (Followers: 29, SJR: 0.821, CiteScore: 4)
ADHD Attention Deficit and Hyperactivity Disorders     Hybrid Journal   (Followers: 28, SJR: 0.72, CiteScore: 2)
Environmental Earth Sciences     Hybrid Journal   (Followers: 28, SJR: 0.552, CiteScore: 2)
IIC - Intl. Review of Intellectual Property and Competition Law     Hybrid Journal   (Followers: 28, SJR: 0.28, CiteScore: 0)
Knee Surgery, Sports Traumatology, Arthroscopy     Hybrid Journal   (Followers: 28, SJR: 1.845, CiteScore: 3)
J. of Nutrition, Health and Aging     Hybrid Journal   (Followers: 28, SJR: 1.249, CiteScore: 3)
J. of Pharmacokinetics and Pharmacodynamics     Hybrid Journal   (Followers: 28, SJR: 0.784, CiteScore: 2)
Flow, Turbulence and Combustion     Hybrid Journal   (Followers: 28, SJR: 0.934, CiteScore: 2)
European Business Organization Law Review (EBOR)     Full-text available via subscription   (Followers: 28, SJR: 0.409, CiteScore: 1)
Educational Assessment, Evaluation and Accountability     Hybrid Journal   (Followers: 28, SJR: 0.599, CiteScore: 1)
J. of Happiness Studies     Hybrid Journal   (Followers: 27, SJR: 0.827, CiteScore: 2)
Landslides     Hybrid Journal   (Followers: 27, SJR: 1.802, CiteScore: 4)
Breast Cancer     Hybrid Journal   (Followers: 27, SJR: 0.653, CiteScore: 2)
J. of Financial Services Research     Hybrid Journal   (Followers: 27, SJR: 1.31, CiteScore: 1)
Microsystem Technologies     Hybrid Journal   (Followers: 27, SJR: 0.346, CiteScore: 1)
Review of Accounting Studies     Hybrid Journal   (Followers: 27, SJR: 2.757, CiteScore: 2)
J. of Banking Regulation     Hybrid Journal   (Followers: 27, SJR: 0.22, CiteScore: 0)
Astrophysics     Hybrid Journal   (Followers: 27, SJR: 0.225, CiteScore: 0)
Applied Physics B: Lasers and Optics     Hybrid Journal   (Followers: 27, SJR: 0.74, CiteScore: 2)
Breast Cancer Research and Treatment     Hybrid Journal   (Followers: 27, SJR: 2.066, CiteScore: 4)
Intl. J. of Information Security     Hybrid Journal   (Followers: 27, SJR: 0.555, CiteScore: 3)
J. of Ornithology     Hybrid Journal   (Followers: 26)
The European Physical J. D - Atomic, Molecular, Optical and Plasma Physics     Hybrid Journal   (Followers: 26, SJR: 0.387, CiteScore: 1)
J. of Computational Neuroscience     Hybrid Journal   (Followers: 26, SJR: 0.888, CiteScore: 2)
Law and Philosophy     Hybrid Journal   (Followers: 26, SJR: 0.471, CiteScore: 1)
Intl. J. of Sexuality and Gender Studies     Hybrid Journal   (Followers: 26)
Human Rights Review     Hybrid Journal   (Followers: 26, SJR: 0.175, CiteScore: 1)
Aquaculture Intl.     Hybrid Journal   (Followers: 26, SJR: 0.591, CiteScore: 2)
J. of Analytical Chemistry     Hybrid Journal   (Followers: 26, SJR: 0.265, CiteScore: 1)
Intl. J. of Science and Mathematics Education     Hybrid Journal   (Followers: 25, SJR: 0.737, CiteScore: 1)
Human Ecology     Open Access   (Followers: 25, SJR: 0.752, CiteScore: 2)
Public Choice     Hybrid Journal   (Followers: 25, SJR: 0.991, CiteScore: 1)
Meteorology and Atmospheric Physics     Hybrid Journal   (Followers: 25, SJR: 0.543, CiteScore: 1)
Continental Philosophy Review     Partially Free   (Followers: 25, SJR: 0.145, CiteScore: 0)
Acta Mechanica     Hybrid Journal   (Followers: 25, SJR: 1.04, CiteScore: 2)
Evolutionary Biology     Hybrid Journal   (Followers: 25, SJR: 0.81, CiteScore: 2)
Artificial Intelligence Review     Hybrid Journal   (Followers: 25, SJR: 0.833, CiteScore: 4)
Archaeological and Anthropological Sciences     Hybrid Journal   (Followers: 24, SJR: 1.052, CiteScore: 2)
J. of Public Health Policy     Partially Free   (Followers: 24, SJR: 0.715, CiteScore: 1)
Water, Air, & Soil Pollution     Open Access   (Followers: 24, SJR: 0.589, CiteScore: 2)
Cancer Immunology, Immunotherapy     Hybrid Journal   (Followers: 24, SJR: 1.899, CiteScore: 5)
Canadian J. of Public Health     Hybrid Journal   (Followers: 24, SJR: 0.609, CiteScore: 1)
Eating and Weight Disorders - Studies on Anorexia, Bulimia and Obesity     Hybrid Journal   (Followers: 24, SJR: 0.572, CiteScore: 2)
Russian Aeronautics (Iz VUZ)     Hybrid Journal   (Followers: 24, SJR: 0.136, CiteScore: 0)
Wetlands     Hybrid Journal   (Followers: 24, SJR: 0.755, CiteScore: 2)
Critical Criminology     Hybrid Journal   (Followers: 24, SJR: 0.34, CiteScore: 1)
World J. of Surgery     Hybrid Journal   (Followers: 24, SJR: 1.359, CiteScore: 2)
Fluid Dynamics     Hybrid Journal   (Followers: 24, SJR: 0.345, CiteScore: 1)
Experimental Economics     Hybrid Journal   (Followers: 24, SJR: 2.276, CiteScore: 2)
Mechanics of Composite Materials     Hybrid Journal   (Followers: 24, SJR: 0.313, CiteScore: 1)
Biological Invasions     Hybrid Journal   (Followers: 24, SJR: 1.514, CiteScore: 3)
Heat and Mass Transfer     Hybrid Journal   (Followers: 24, SJR: 0.448, CiteScore: 1)
Environmental and Resource Economics     Hybrid Journal   (Followers: 24, SJR: 1.186, CiteScore: 2)
J. of Thermal Analysis and Calorimetry     Hybrid Journal   (Followers: 24, SJR: 0.587, CiteScore: 2)
J. of Chemical Sciences     Partially Free   (Followers: 24, SJR: 0.352, CiteScore: 1)
Intl. J. of Mental Health and Addiction     Hybrid Journal   (Followers: 24, SJR: 0.49, CiteScore: 1)
J. of Public Health     Hybrid Journal   (Followers: 23, SJR: 0.265, CiteScore: 1)
Research in Science Education     Hybrid Journal   (Followers: 23, SJR: 1.019, CiteScore: 2)
Behavior Research Methods     Hybrid Journal   (Followers: 23, SJR: 2.099, CiteScore: 4)
Science & Education     Hybrid Journal   (Followers: 23)
Electrical Engineering     Hybrid Journal   (Followers: 23, SJR: 0.323, CiteScore: 1)
J. of the Academy of Marketing Science     Hybrid Journal   (Followers: 23, SJR: 4.614, CiteScore: 7)
Diabetes Therapy     Open Access   (Followers: 23, SJR: 1.094, CiteScore: 3)
Astronomy and Astrophysics Review     Hybrid Journal   (Followers: 23, SJR: 3.385, CiteScore: 5)
Advances in Computational Mathematics     Hybrid Journal   (Followers: 23, SJR: 0.812, CiteScore: 1)
Erkenntnis     Hybrid Journal   (Followers: 23, SJR: 1.502, CiteScore: 1)
Current Microbiology     Hybrid Journal   (Followers: 23, SJR: 0.562, CiteScore: 1)
J. of Materials Science     Hybrid Journal   (Followers: 23, SJR: 0.807, CiteScore: 3)
Ethical Theory and Moral Practice     Hybrid Journal   (Followers: 23, SJR: 0.402, CiteScore: 1)
Animal Cognition     Hybrid Journal   (Followers: 23, SJR: 1.389, CiteScore: 3)
European Spine J.     Hybrid Journal   (Followers: 23, SJR: 1.535, CiteScore: 2)
Human Nature     Hybrid Journal   (Followers: 23, SJR: 1.092, CiteScore: 2)
Experimental Mechanics     Hybrid Journal   (Followers: 23, SJR: 0.947, CiteScore: 2)
J. of Child and Family Studies     Hybrid Journal   (Followers: 22, SJR: 0.784, CiteScore: 2)
J. of General Internal Medicine     Hybrid Journal   (Followers: 22, SJR: 1.612, CiteScore: 2)
Evolutionary Ecology     Hybrid Journal   (Followers: 22, SJR: 1.117, CiteScore: 2)
Astronomy Letters     Hybrid Journal   (Followers: 22, SJR: 0.452, CiteScore: 1)
Abdominal Radiology     Hybrid Journal   (Followers: 22, SJR: 0.866, CiteScore: 2)
Chromatographia     Hybrid Journal   (Followers: 22, SJR: 0.514, CiteScore: 1)
Early Childhood Education J.     Hybrid Journal   (Followers: 22, SJR: 0.548, CiteScore: 1)

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Similar Journals
Journal Cover
Journal of Financial Services Research
Journal Prestige (SJR): 1.31
Citation Impact (citeScore): 1
Number of Followers: 27  
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 1573-0735 - ISSN (Online) 0920-8550
Published by Springer-Verlag Homepage  [2626 journals]
  • Corporate Assets and Enhancing Firm Value: Evidence from the Market for
           Bank Branches in the US
    • Abstract: Abstract This study examines the purchase and sale of US bank branches. Large and unproductive banks with less capital sell branches to smaller and more efficient banks with more capital. I use an event study, and find a significant increase in value for both parties. These valuation effects are driven by slightly better operating performance, faster growth in loans, and a smooth transfer of purchased deposits for buyers and by improved operating performance and no substantial decrease in the growth of loans and deposits for sellers. Overall, the evidence shows that branch dealmakers operate efficiently by reallocating branches to better uses.
      PubDate: 2020-06-01
  • The LOLR Policy and its Signaling Effect in a Time of Crisis
    • Abstract: Abstract When a government implements an LOLR policy during a crisis, creditors can infer a bank’s quality by whether the bank borrows government loans. We establish a formal model to study an LOLR policy in the presence of this signaling effect. We find that three equilibria exist: a separating equilibrium where only low quality banks borrow from the government and two pooling equilibria where both high and low quality banks do and do not borrow from the government. Further, we find that the government’s lending rate serves an important signaling role and that hiding the identity of the banks that borrow government loans tends to encourage banks to do so. We also find two welfare effects of the LOLR policy: the liquidation cost saving and moral hazard. Depending on which effect dominates, the optimal LOLR policy differs.
      PubDate: 2020-06-01
  • Banking Crises and Market Timing: Evidence from M&As in the
           Banking Sector
    • Abstract: Abstract We investigate whether the gains are greater for banks that conduct mergers and acquisitions (M&As) during banking crises than during non-crisis periods. We contribute to the literature by examining 1984 M&As using global banking sample from 106 countries (areas) during 1994 ~ 2009. We find the synergistic gains of acquiring banks during banking crises are larger than those during non-crisis periods. We further find that such gains are greater when acquiring weak targets, for acquirers in developed countries, and for acquirers in domestic M&As. This study confirms that a banking crisis is an appropriate time for banks to conduct M&As.
      PubDate: 2020-06-01
  • Quantifying and Stress Testing Operational Risk with Peer Banks’
    • Abstract: Abstract One of the main challenges that banks face in quantifying operational risk is the instability of risk estimates caused by heavy-tailed and insufficient loss data. To address these issues, we propose a loss scaling method to combine a bank’s internal loss data with loss data of peer banks. In this method, we scale tail losses using total assets and a measure of risk management quality as scaling factors. Using supervisory operational loss data from large U.S. bank holding companies, we demonstrate that our method of incorporating scaled external data improves the stability of operational risk estimates. In addition, we show that our scaling method can be applied for stress testing operational losses to macroeconomic shocks by better depicting the relationship between losses and macroeconomic variables.
      PubDate: 2020-06-01
  • How language shapes bank risk taking
    • Abstract: Abstract We analyze the impact of language on risk-taking behavior of banks. Languages that grammatically distinguish between present and future events make the future feel more distant than the present and as thus favor a less future-oriented behavior (Chen, American Economic Review, 2013). Our hypothesis is that these languages lead banks to take more risk since they reduce the perception of potential losses associated with risky activities. We investigate this hypothesis on a sample of 1401 banks from 81 countries over the 2010–2017 period. We perform random effects regressions of bank risk, measured by the Z-score, on the type of language. We find that banks from countries with future tense marking take more risk in accordance with our prediction. This finding is robust to the inclusion of alternative culture indicators, to alternative definitions of bank risk and of future time reference. We also observe that future tense marking is associated with greater occurrence of banking crises. Our conclusion is thus that language contributes to explain the cross-country differences in bank risk-taking.
      PubDate: 2020-05-22
  • Relationship Lending and Liquidation Under Imperfect Information
    • Abstract: Abstract Using a model of a competitive credit market, we study a firm’s choice between financing a production project using a transaction loan and a relationship loan. The project itself is characterized by uncertainty, with regards to both the amount and the timing of revenue. While the transaction lender enjoys a relatively lower cost of funds, the relationship lender’s advantage lies in being able to make a relatively more informed decision about the continuation value of the project in the event that the firm misses its initial payment obligation. In this setting, we make two important findings. First, we document how the firm’s optimal choice of loan type is dependent on both the liquidation value of the project and how accessible transaction credit is to distressed firms. Second, we investigate an opportunity for a lender to improve the quality of its lending relationship with the firm, and find that, under imperfect information, the lender may choose to decline certain welfare improving innovations.
      PubDate: 2020-05-10
  • Applying Benford’s Law to Detect Accounting Data Manipulation in the
           Banking Industry
    • Abstract: Abstract We utilise Benford’s Law, which predicts the frequencies in different digits in data, to test if balance sheet and income statement data used to assess bank soundness were manipulated prior to, and also during, the global financial crisis. We find that banks adjust loan loss provisions to manipulate earnings and income upwards. Distressed institutions that have stronger incentives to conceal their financial difficulties also manipulate loan loss allowances and non-performing loans downwards. Moreover, manipulation is magnified during the crisis and expands to encompass regulatory capital.
      PubDate: 2020-05-09
  • Foreign Exchange Manipulation and the Equity Returns of Global Banks
    • Abstract: Abstract We investigate the valuation effects of foreign exchange manipulation for seven systemically important banks that settled with regulators and legal authorities. The seven settlement banks suffer a total market value loss of $48 billion that far exceeds the $10 billion in regulatory and criminal fines. We attribute the difference of $38 billion to a market-imposed reputational penalty, which we define as the expected decline in the present value of future cash flows due to higher regulatory and financing costs and lower revenues. However, only five of the seven settlement banks experience reputational penalties that are higher than the assessed fines. Our evidence suggests that the market responds differentially based on the distinctive circumstances related to each institution’s involvement. We also find evidence of negative valuation effects for other competing global banks that are more pronounced for those banks that have greater systemic importance and control a greater share of the foreign exchange market.
      PubDate: 2020-04-01
  • The Banks that Said No: the Impact of Credit Supply on Productivity and
    • Abstract: Abstract This paper estimates the effects of changes in bank credit supply on the real economy. We use UK firm-level data around the global financial crisis and information on pre-existing bank lending relationships to isolate exogenous credit supply shocks. We find some evidence that contractions in credit supply substantially reduce labour productivity, wages, and capital per worker within firms, and increase the chance firms will fail. Our results have implications for the welfare costs of financial crises, and for the costs of policy measures affecting credit supply at other times.
      PubDate: 2020-04-01
  • Borrower Opacity and Loan Performance: Evidence from China
    • Abstract: Abstract We use survey data from the China Banking Regulatory Commission to construct a proxy for a firm’s opacity to examine its causes and influences. Our opacity proxy is positively associated with the distance between firms and banks, the geographic dispersion of business groups, and the size of the intra-group guarantee. Firms with higher opacity have a higher default probability particularly given a poor credit history or membership in a business group with low quality credit. Our evidence, which is robust to different model specifications, confirms that the borrower’s opacity can reduce the efficiency of bank monitoring. Our study indicates that loan officers have a good idea of the borrower’s opacity, and their professional opinions effectively reflect this perception.
      PubDate: 2020-04-01
  • Fuel the Engine: Bank Credit and Firm Innovation
    • Abstract: Abstract Whether bank credit is suitable to finance innovation is a key question. Using a sample of 6422 small firms across 22 emerging economies, we find that a lack of access to credit stifles innovation, especially of the technologically “hard” type. This detrimental impact is stronger in localities or sectors with more dependence on external financing, but only holds for firms that are limited in alternative financing sources. The negative impact is further mitigated by better institutions. Foreign or transactional banks, or banks in more diversified banking markets are better in promoting firm innovation.
      PubDate: 2020-04-01
  • Predicting the Loss Given Default Distribution with the Zero-Inflated
           Censored Beta-Mixture Regression that Allows Probability Masses and
    • Abstract: Abstract We propose a new procedure to predict the loss given default (LGD) distribution. Studies find empirical evidence that LGD values have a high concentration at the endpoint 0. Thus, we first use a logistic regression to determine the probability that the LGD value of a defaulted debt equals zero. Further, studies find empirical evidence that positive LGD values have a low concentration at the endpoint 1 and a bimodal distribution on the interval (0,1). Therefore, we use a right-tailed censored beta-mixture regression to model the distribution of positive LGD data. To implement the proposed procedure, we collect 5554 defaulted debts from Moody’s Default and Recovery Database and apply an expectation–maximization algorithm to estimate the LGD distribution. Using each of the k-fold cross-validation technique and the expanding rolling window approach, our empirical results confirm that the new procedure has better and more robust out-of-sample performance than its alternatives because it yields more accurate predictions of the LGD distribution.
      PubDate: 2020-03-18
  • The Exclusive Role of Centralized Fund Family Management
    • Abstract: Abstract Fund families are centrally managed, and can directly control resource allocations between funds. We quantify multiple manageable fund family attributes, and examine their combined effects upon returns and investor flows. We focus upon five attributes that are exclusively manageable by fund families: marginal fee economies of scale, star fund offerings, mixed high and low risk product offerings, within-family manager scope, and manager outsourcing. We find sensitivity differences during the financial crisis and non-crisis time periods. Management of these exclusive attributes significantly improve a fund family’s returns and investor flows, benefiting fund families and their investors during both normal and financial crisis periods. We find that investors reward fund families with greater performance sensitive inflows and weaker performance sensitive outflows, indicating that investors identify greater utility in centrally managed fund families.
      PubDate: 2020-03-06
  • New Positions in Mutual Fund Portfolios: Implications for Fund Alpha
    • Abstract: Abstract This study introduces a new measure of fund activeness that predicts future fund abnormal returns. This measure is defined as the “return on new portfolio holdings.” It is constructed as the return on stocks that a fund has not held before. We find that the return on these positions drives future fund alpha. On average, a one-standard deviation increase in the return on new holdings increases fund alpha by approximately 0.39 to 0.49 percent per year. Overall, our findings provide new insights on the value of active management.
      PubDate: 2020-03-02
  • Insider Share-Pledging and Equity Risk
    • Abstract: Abstract Corporate insiders frequently borrow from lending institutions and pledge their personal equity as collateral for the loan. This borrowing, or pledging, potentially affects shareholder risk through changing managerial incentives or contingency risk. Using an exogenous shock to lending supply, we document a significant increase in risk arising from pledging. Difference-in-differences regressions indicate that insider pledging corresponds with a 16.5% relative increase in risk despite unchanged firm fundamentals. The empirical analysis supports contingency risk in linking pledging to volatility. Overall, our findings suggest that pledging allows influential insiders to extract private benefits of control at the expense of outside shareholders.
      PubDate: 2020-02-15
  • Large Banks and Efficient Banks: how Do they Influence Credit Supply and
           Default Risk'
    • Abstract: Abstract This study examines two questions relating to the banking market structure. First, does the banking market structure influence banks’ decisions to originate new single-family home mortgages' Second, does the banking market concentration affect mortgage default risks' Using a two-stage approach with the inputs from two data sources on the banking market in the US and mortgages in non-agency securitization pools for the period from 1999 to 2008, we find that banks operating in the markets with a low entry barrier (efficient banks) increase credit supply, while banks possessing market power restrict credit supply to the mortgage markets. Banks with market power originate loans that have lower default risk compared to loans originated by banks in the competitive markets. Efficient banks use mortgage technology indiscriminately to increase credit supply even at the expense of lowering credit quality (increasing default risks). We show that the effects of banking market structure are not correlated with legislation risks and population size in the markets.
      PubDate: 2020-02-01
  • Bank Switching and Interest Rates: Examining Annual Transfers Between
           Savings Accounts
    • Abstract: Abstract We study the savings transfers between banks by retail depositors. Our sample comprises annual savings account data from the Netherlands for the period from 2004 to 2014. We control for demographic factors and find that the differences in interest rates across savings accounts help explain the extent to which depositors reallocate their savings to either a newly opened or an existing account. The depositors in our sample transfer between 3 and 6% of their savings for each percentage point difference in the interest rates. This effect is robust across various selected samples and model specifications. In addition, we show that depositors transfer a higher proportion of their deposits during the 2008–2009 financial crisis than during non-crisis years. During that crisis, the difference in interest rates remained a highly important determinant of transfer behavior.
      PubDate: 2020-02-01
  • The Fast and the Curious: VC Drift
    • Abstract: Abstract We develop a measure of a VC firm’s investment style and its change over time (drift). While drift can be beneficial for responding to new market conditions, it reduces the ability to develop style expertise. We document evidence of drift among VCs and find that it is more prevalent among VCs who are less experienced and face pressure to invest their funds. We also find a negative relation between drift and performance, with stronger effects for VCs who herd and are seasoned. Overall, our results are consistent with the hypothesis that drift is detrimental to VC performance.
      PubDate: 2020-02-01
  • How Cyclical Is Bank Capital'
    • Abstract: Abstract Using annual data since 1834 and quarterly data since 1959, I find a negative correlation between aggregate output and the bank capital ratio, though the numbers are mostly small and insignificant, even when considering leads and lags. Somewhat stronger negative correlations arise with the Tier 1 to risk-weighted assets ratio. The most significant correlations tend to reflect movements in bank assets, rather than capital itself, and although the pattern of aggregate correlations matches that of large banks, small banks show a different pattern, with strongly pro-cyclical capital ratios.
      PubDate: 2020-01-24
  • Did Negative Interest Rates Improve Bank Lending'
    • Abstract: Abstract Since 2012 several central banks have introduced a negative interest rate policy (NIRP) aimed at boosting real spending by facilitating an increase in the supply and demand for bank loans. We employ a bank-level dataset comprising 6558 banks from 33 OECD member countries over 2012–2016 and a matched difference-in-differences estimator to analyze whether NIRP resulted in a change in bank lending in NIRP-adopter countries compared to those that did not adopt the policy. Our results suggest that following the introduction of negative interest rates, bank lending was weaker in NIRP-adopter countries. The result is robust to a wide range of checks. This adverse NIRP effect appears to have been stronger for banks that were smaller, more dependent on retail deposit funding, less well capitalized, had business models reliant on interest income, and operated in more competitive markets.
      PubDate: 2019-07-30
School of Mathematical and Computer Sciences
Heriot-Watt University
Edinburgh, EH14 4AS, UK
Tel: +00 44 (0)131 4513762

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