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dc.contributor.authorVins, Oliveren_US
dc.date.accessioned2008-12-15en_US
dc.date.accessioned2010-07-15T12:57:22Z-
dc.date.available2010-07-15T12:57:22Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/36638-
dc.description.abstractThis paper is one of the first to analyse political influence on state-owned savings banks in a developed country with an established financial market: Germany. Combining a large dataset with financial and operating figures of all 457 German savings banks from 1994 to 2006 and information on over 1,250 local elections during this period we investigate the change in business behavior around elections. We find strong indications for political influence: the probability that savings banks close branches, lay-off employees or engage in merger activities is significantly reduced around elections. At the same time they tend to increase their extraordinary spendings, which include support for social and cultural events in the area, on average by over 15%. Finally, we find that savings banks extend significantly more loans to their corporate and private customers in the run-up to an election. In further analyses, we show that the magnitude of political influence depends on bank specific, economical and political circumstances in the city or county: political influence seems to be facilitated by weak political majorities and profitable banks. Banks in economically weak areas seem to be less prone to political influence.en_US
dc.language.isoengen_US
dc.publisherUniv., Fachbereich Wirtschaftswiss. Frankfurt am Mainen_US
dc.relation.ispartofseriesWorking paper series // Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften Finance & accounting 191en_US
dc.subject.jelD72en_US
dc.subject.jelD78en_US
dc.subject.jelG21en_US
dc.subject.jelG28en_US
dc.subject.jelH70en_US
dc.subject.ddc330en_US
dc.subject.keywordsavings banksen_US
dc.subject.keywordpolitical influenceen_US
dc.subject.keywordgovernment-owned banksen_US
dc.subject.keywordcorporate governanceen_US
dc.subject.keywordpolitical economy state-owned enterprisesen_US
dc.subject.keywordelectoral cycleen_US
dc.subject.stwSparkasseen_US
dc.subject.stwUnternehmenspolitiken_US
dc.subject.stwStaatliche Einflussnahmeen_US
dc.subject.stwPublic Choiceen_US
dc.subject.stwKommunalwahlen_US
dc.subject.stwDeutschlanden_US
dc.titleHow politics influence state-owned banks: The case of German savings banksen_US
dc.typeWorking Paperen_US
dc.identifier.ppn587976101en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Working Paper Series: Finance and Accounting, Universität Frankfurt a. M.

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