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dc.contributor.authorKleff, Volkeren
dc.date.accessioned2009-02-16T14:49:26Z-
dc.date.available2009-02-16T14:49:26Z-
dc.date.issued2005-
dc.identifier.urihttp://hdl.handle.net/10419/24159-
dc.description.abstractIn contrast to earlier field studies, we survey German public savings banks on their management of capital. We find that the most important determinants of the savings banks? target capital ratio are risk aversion, the desired credit growth and profitability. Savings banks prefer to manage the level of capital rather than the level of riskweighted assets in order to reach their target capital ratio. The most important instruments to increase the level of capital are lowering costs and issuing subordinated debt. We obtain strong evidence that issuing subordinated debt is a particularly important instrument to increase capital for less capitalised savings banks.en
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x05-63en
dc.subject.jelG21en
dc.subject.ddc330en
dc.subject.keywordCapitalen
dc.subject.keywordSavings Banksen
dc.subject.keywordGermanyen
dc.subject.keywordSurveyen
dc.subject.stwSparkasseen
dc.subject.stwBankbilanzen
dc.subject.stwBilanzstrukturmanagementen
dc.subject.stwSchätzungen
dc.subject.stwDeutschlanden
dc.titleCapital policy of German savings banks: a survey-
dc.typeWorking Paperen
dc.identifier.ppn502806281en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:4546en

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