Taxing banks leverage and syndicated lending: A cross-country comparison
| Autor: | A. Burietz, S. Ongena, M. Picault |
|---|---|
| Přispěvatelé: | University of Zurich, Burietz, Aurore, Lille économie management - UMR 9221 (LEM), Université d'Artois (UA)-Université catholique de Lille (UCL)-Université de Lille-Centre National de la Recherche Scientifique (CNRS), Laboratoire d'Économie d'Orleans [2022-...] (LEO), Université d'Orléans (UO)-Université de Tours (UT)-Université Clermont Auvergne (UCA) |
| Jazyk: | angličtina |
| Rok vydání: | 2022 |
| Předmět: |
Economics and Econometrics
Economics Social Sciences Syndicated loans 2002 Economics and Econometrics 3308 Law [SHS.ECO]Humanities and Social Sciences/Economics and Finance POLICY DEBT 10003 Department of Banking and Finance 330 Economics LEVY Tax levy PRUDENTIAL REGULATION Banks Government & Law 2003 Finance Business & Economics Law TAXATION Finance |
| Zdroj: | International Review of Law and Economics SSRN Electronic Journal SSRN Electronic Journal, 2023, 73, pp.106103. ⟨10.2139/ssrn.4039734⟩ |
| ISSN: | 1556-5068 |
| DOI: | 10.2139/ssrn.4039734⟩ |
| Popis: | International audience; Between 2010 and 2012 and with bank stability as the ultimate target, five European countries implemented a tax levy on banks’ liabilities thereby decreasing the cost of equity relative to the cost of debt. Using a difference-in-differences approach we assess the impact of this tax levy on banks’ participation in the syndicated loan market. We further investigate the impact of the tax levy along bank size and capital structure. We find that banks located in countries where the tax levy was implemented supply more credit. This increase is more significant for larger lenders and banks that are more capital constrained. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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