The Determinants of Capital Structure: Some Evidence from Banks

Arbeitspapier

This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of large banks in the United States and Europe. We find a remarkable consistency in sign, significance and economic magnitude. Like non-financial firms, banks appear to have stable capital structures at levels that are specific to each individual bank. The results suggest that capital requirements may only be of second-order importance for banks? capital structures and confirm the robustness of current corporate finance findings in a holdout sample of banks.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: ZEW Discussion Papers ; No. 08-015

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill ; Banks; Depository Institutions; Micro Finance Institutions; Mortgages
• Thema: capital structure ; corporate finance ; leverage ; bank capital ; banking regulation ; Bank ; Kapitalstruktur ; Vergleich ; Industrie ; Bankenpolitik ; EU-Staaten ; USA

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Heider, Florian ; Gropp, Reint E.
• Ereignis: Veröffentlichung
• (wer): Zentrum für Europäische Wirtschaftsforschung (ZEW)
• (wo): Mannheim
• (wann): 2008

Weitere Informationen

• Handle: http://hdl.handle.net/10419/24709
• Letzte Aktualisierung: 10.03.2025, 11:45 MEZ