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Empirical analysis of moral hazard in banking: the impact of bank and country-specific characteristics on banks´ risk-shifting practices
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Resumo(s)
This study investigates the occurrence of risk-shifting within Euro area banks from
2015 to 2022 and examines how size, business model, and country of origin influence it. The
analysis reveals distinct risk-shifting patterns, with small banks engaging in other debt-based
risk-shifting, posing higher risks for non-depository creditors. Commercial and savings banks
exhibit unclassified risk-shifting, while cooperative banks show other debt-based risk-shifting,
emphasizing the impact of business models. Additionally, the analysis highlights different types
of risk-shifting, depending on a country’s level of indebtedness. Furthermore, by examining the
factors that en-/discourage such behavior, it shows that capital buffers effectively curb excessive
risk-taking.
Descrição
Palavras-chave
Moral hazard Euro Area banks Risk-shifting Excessive risk-taking Bank regulation Funding structure