Concept
Marché des capitaux
Publications associées (47)
The Time‐Varying Price of Financial Intermediation in the Mortgage Market
We introduce a new measure of the price charged by financial intermediaries for con-necting mortgage borrowers with capital market investors. Based on administrativelender pricing data, we document that the price of intermediation reacts stronglyto variatio ...
2024Steel Pipes and Global Networks: The Influence of Dalmine S.p.A in Shaping Resource Extraction Infrastructures
Pipelines for extracting oil, gas, water, and supporting energy systems are part of the infrastructure of extractive sites, especially marked in countries with less urbanized areas. Throughout the twentieth century, such regions were influenced by economic ...
2023The Pass-through of Bank Capital Requirements to Corporate Lending Spreads
We study the impact of higher bank capital requirements on corporate lending spreads using granular bank- and loan-level data. Our empirical strategy employs the heterogeneity in capital requirements across banks and time of implementation in Switzerland. ...
2021Stress tests and loan pricing—Evidence from syndicated loans
Luisa Lambertini, Abhik Mukherjee
This paper estimates the impact of stress-testing on lending spreads. We use firm-level data on syndicated loans matched with bank holding company (BHC) data in our panel regressions. Using a difference-in-difference framework, we find: (1) BHCs that faile ...
2021Informational frictions in financial markets
This thesis consists of three chapters on informational frictions in financial markets. The chapters analyze problems related to markets' ability to guide real investment, and what drives liquidity. Both problems are important to ensure efficient resource ...
EPFL2021Mortgage Supply and Capital Regulation in a Low Interest Rate Environment
Low-for-long nominal interest rates have resulted in strong growth in mort- gage lending and real house prices in Switzerland. Domestically-oriented, small banks have mostly contributed to this expansion in mortgage lending while the two big, global system ...
2020Essays in Financial Economics
This thesis consists of three parts that study separate subjects in corporate finance and corporate governance. The overarching theme is ownership by CEOs and other insiders.
In the first part, which is co-authored work with Rüdiger Fahlenbrach, René M. ...
EPFL2020A Multiagent Model of Efficient and Sustainable Financial Markets
In this paper, we introduce a model of a financial market as a multiagent repeated game where the players are market makers. We formalize the concept of market making and the parameters of the game. Our main contribution is a framework that combines game t ...
2020The Pass-through of Bank Capital Requirements to Corporate Lending Spreads
Luisa Lambertini, Abhik Mukherjee, Robert Bichsel
This paper studies the impact of higher bank capital requirements on corporate lending spreads. We conduct an empirical analysis using granular bank- and loan-level data for Switzerland. Overall, we nd a positive relationship between capital ratios, actual ...
2019Strategic Durability with Sharing Markets
Thomas Alois Weber, Maryam Razeghian Jahromi
Electronic sharing markets are contributing to a paradigm shift, from consuming products to accessing products. This paper studies the effects of sharing markets on the prices for new products and on product design in terms of durability. In a dynamic econ ...
2019