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http://hdl.handle.net/10419/24709
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| Title: | | The Determinants of Capital Structure: Some Evidence from Banks  |
| Authors: | | Heider, Florian Gropp, Reint Eberhard |
| Issue Date: | | 2008 |
| Series/Report no.: | | ZEW Discussion Papers 08-015 |
| Abstract: | | 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. |
| Subjects: | | capital structure corporate finance leverage bank capital banking regulation |
| JEL: | | G32 G21 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des ZEW ZEW Discussion Papers
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