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Publications (10 of 20) Show all publications
Elliot, V., Lindblom, T. & Willesson, M. (2019). The impact of recent regulatory reforms on cross-border banking: a study of the Nordic markets. In: Elisabetta Gualandri, Valeria Venturelli & Alex Sclip (Ed.), Frontier topics in banking: investing new trends and recent developments in the financial industry (pp. 293-319). Palgrave Macmillan
Open this publication in new window or tab >>The impact of recent regulatory reforms on cross-border banking: a study of the Nordic markets
2019 (English)In: Frontier topics in banking: investing new trends and recent developments in the financial industry / [ed] Elisabetta Gualandri, Valeria Venturelli & Alex Sclip, Palgrave Macmillan, 2019, p. 293-319Chapter in book (Refereed)
Place, publisher, year, edition, pages
Palgrave Macmillan, 2019
Series
Palgrave Macmillan studies in banking and financial institutions
National Category
Economics
Research subject
Economy, Business administration; Economy, Economics; Economy, Logistics
Identifiers
urn:nbn:se:lnu:diva-84447 (URN)10.1007/978-3-030-162955_11 (DOI)9783030162955 (ISBN)9783030162948 (ISBN)
Available from: 2019-05-30 Created: 2019-05-30 Last updated: 2019-09-11Bibliographically approved
Elliot, V. & Willesson, M. (2018). Does bank regulation spill over to firm financing?: SME financing, bank monitoring, and the efficiency of the bank lending channel. In: Myriam García-Olalla & Judith Clifton (Ed.), Myriam García-Olalla & Judith Clifton (Ed.), Contemporary issues in banking: regulation, governance and performance. Paper presented at Wolpertinger Conference of the European-Association-of-University-Teachers-of-Banking-and-Finance, Santander, SPAIN, SEP, 2017 (pp. 279-302). Paper presented at Wolpertinger Conference of the European-Association-of-University-Teachers-of-Banking-and-Finance, Santander, SPAIN, SEP, 2017. Basingstoke: Palgrave Macmillan
Open this publication in new window or tab >>Does bank regulation spill over to firm financing?: SME financing, bank monitoring, and the efficiency of the bank lending channel
2018 (English)In: Contemporary issues in banking: regulation, governance and performance / [ed] Myriam García-Olalla & Judith Clifton, Basingstoke: Palgrave Macmillan, 2018, p. 279-302Chapter in book (Refereed)
Abstract [en]

This chapter analyses spill over between banks and firms when required bank capital is regulated. We contribute to the existing literature by addressing different regulatory responses with an impact on the supply and demand of bank lending. The chapter contributes to the growing literature addressing the unintended consequences of regulatory policy development. The study empirically compares the regulatory responses of Swedish banks and how these responses affect lending to Swedish SMEs. The theoretical framework and methodology employed in this chapter make it possible to study theories related to bank monitoring, regulatory arbitrage opportunities, and the risk-return trade off. The main results indicate that banks’ regulatory responses are associated with increasing lending margins, either by (1) increasing the margin on the loan portfolios, spilling over the regulatory costs through higher prices, (2) lower acceptance of lower return customers, or (3) regulatory arbitrage through balance sheet adjustments.

Place, publisher, year, edition, pages
Basingstoke: Palgrave Macmillan, 2018
Series
Palgrave Macmillan Studies in Banking and Financial Institutions, ISSN 2523-336X
Keywords
bank regulation, reaching for yield, bank monitoring, debt, regulatory arbitrage, SME access to funding
National Category
Economics and Business
Research subject
Economy
Identifiers
urn:nbn:se:lnu:diva-82048 (URN)10.1007/978-3-319-90294-4_13 (DOI)000463329400013 ()978-3-319-90294-4 (ISBN)978-3-319-90293-7 (ISBN)
Conference
Wolpertinger Conference of the European-Association-of-University-Teachers-of-Banking-and-Finance, Santander, SPAIN, SEP, 2017
Available from: 2019-04-18 Created: 2019-04-18 Last updated: 2019-04-26Bibliographically approved
Willesson, M. (2017). What is and what is not regulatory arbitrage?: a literature review and syntheses. In: Giusy Chesini, Elisa Giaretta & Andrea Paltrinieri (Ed.), Financial markets, SME financing and emerging economies: (pp. 71-94). Palgrave Macmillan
Open this publication in new window or tab >>What is and what is not regulatory arbitrage?: a literature review and syntheses
2017 (English)In: Financial markets, SME financing and emerging economies / [ed] Giusy Chesini, Elisa Giaretta & Andrea Paltrinieri, Palgrave Macmillan, 2017, p. 71-94Chapter in book (Refereed)
Place, publisher, year, edition, pages
Palgrave Macmillan, 2017
Series
Palgrave Macmillan Studies in Banking and Financial Institutions
Keywords
Banking, Regulatory arbitrage, Regulation
National Category
Economics and Business
Research subject
Economy, Business administration; Economy, Economics
Identifiers
urn:nbn:se:lnu:diva-76677 (URN)10.1007/978-3-319-54891-3 (DOI)9783319548906 (ISBN)9783319548913 (ISBN)
Available from: 2019-04-25 Created: 2019-04-25 Last updated: 2019-05-13Bibliographically approved
Willesson, M. (2016). A Note on Regulatory arbitrage: Bank risk, Capital risk, Interest rate risk and ALM in European Banking. In: Santiago Carbó Valverde, Pedro Jesús Cuadros-Solas & Francisco Rodríguez Fernández (Ed.), Liquidity Risk, Efficiency and New Bank Business models: (pp. 5-33). Palgrave Macmillan
Open this publication in new window or tab >>A Note on Regulatory arbitrage: Bank risk, Capital risk, Interest rate risk and ALM in European Banking
2016 (English)In: Liquidity Risk, Efficiency and New Bank Business models / [ed] Santiago Carbó Valverde, Pedro Jesús Cuadros-Solas & Francisco Rodríguez Fernández, Palgrave Macmillan, 2016, p. 5-33Chapter in book (Refereed)
Abstract [en]

The chapter considers asset and liability management (ALM) as a possible avenue for regulatory arbitrage under regulatory capital constraints. The chapter presents a theory of regulatory arbitrage as a regulatory response to capital requirements in banking depending on capitalization mechanisms and empirically analyses capital risk and bank risk in European banking in terms of ALM. The results suggest a possible loophole in today’s capital regulation via ALM and the need for regulatory arbitrage as a regulatory response.

Place, publisher, year, edition, pages
Palgrave Macmillan, 2016
Series
Palgrave Macmillan Studies in Banking and Financial Institutions
Keywords
banking, regulatory arbitrage, regulation, regulatory response, Asset and Liability Management
National Category
Economics and Business
Research subject
Economy, Economics; Economy, Business administration
Identifiers
urn:nbn:se:lnu:diva-76676 (URN)10.1007/978-3-319-30819-7_2 (DOI)978-3-319-30818-0 (ISBN)
Available from: 2019-04-25 Created: 2019-04-25 Last updated: 2019-05-07Bibliographically approved
Willesson, M. (2015). Risk and Efficiency in European Banking: Does Corporate Governance Matter?. In: Elena Beccalli & Federica Poli (Ed.), Bank Risk, Governance and Regulation: (pp. 163-181). Palgrave Macmillan
Open this publication in new window or tab >>Risk and Efficiency in European Banking: Does Corporate Governance Matter?
2015 (English)In: Bank Risk, Governance and Regulation / [ed] Elena Beccalli & Federica Poli, Palgrave Macmillan, 2015, p. 163-181Chapter in book (Refereed)
Abstract [en]

The challenges for banks due to the new detailed regulation of the 'management body' predict a reduced bank risk at low cost. In this chapter, we determine the relevance of this statement, empirically testing whether the corporate governance of banks influences banking risk and banking efficiency. The results reveal a relationship between efficient banks and risk. However, the corporate governance variables considered in this chapter reveal limited evidence on the effect on risk, although corporate governance attributes can explain banking efficiency. Consequently, we cannot find strong support that corporate governance reduces risk without a significant cost.

Place, publisher, year, edition, pages
Palgrave Macmillan, 2015
Series
Palgrave Macmillan Studies in Banking and Financial Institutions
Keywords
Corporate Governance, Risk, Efficiency, Banking, Regulation, Europe
National Category
Economics and Business
Research subject
Economy, Economics; Economy, Business administration
Identifiers
urn:nbn:se:lnu:diva-39810 (URN)978-1-137-53094-3 (ISBN)978-1-349-55410-2 (ISBN)
Available from: 2019-04-25 Created: 2019-04-25 Last updated: 2019-05-07Bibliographically approved
Lindblom, T., Sjögren, S. & Willesson, M. (2014). Challenges for banks and a new regulatory framework (1ed.). In: Ted Lindblom, Stefan Sjögren and Magnus Willesson (Ed.), Governance, regulation and bank stability: (pp. 1-8). Houndmills: Palgrave Macmillan
Open this publication in new window or tab >>Challenges for banks and a new regulatory framework
2014 (English)In: Governance, regulation and bank stability / [ed] Ted Lindblom, Stefan Sjögren and Magnus Willesson, Houndmills: Palgrave Macmillan, 2014, 1, p. 1-8Chapter in book (Refereed)
Place, publisher, year, edition, pages
Houndmills: Palgrave Macmillan, 2014 Edition: 1
Series
Palgrave Macmillan studies in banking and financial institutions
National Category
Economics
Research subject
Economy, Business administration; Economy, Economics; Economy, Ekonomistyrning
Identifiers
urn:nbn:se:lnu:diva-32011 (URN)9781137413536 (ISBN)
Available from: 2014-09-02 Created: 2014-02-05 Last updated: 2019-04-26Bibliographically approved
Lindblom, T., Sjögren, S. & Willesson, M. (Eds.). (2014). Financial systems, markets and institutional changes (1ed.). Houndmills: Palgrave Macmillan
Open this publication in new window or tab >>Financial systems, markets and institutional changes
2014 (English)Collection (editor) (Refereed)
Abstract [en]

Financial Systems, Markets and Institutional Changes analyses and exemplifies how the financial system endogenously adjusts to institutional changes such as new technology, political tendencies, cultural differences, new business models, and government interactions. It puts particular emphasis on how different institutional settings affect firms' borrowing and how the financial crisis affected the relationship between borrowing firms and lending banks. It further increases our understanding of how efficient financial markets are formed, by addressing issues related to the globalization of the financial market, questioning whether the EMU, with its regional imbalances, is an optimal currency union, and putting new requirements on an international lender of last resort. Recent technology development, with high frequency trading, and the increased existence of Islamic banking are two further examples of institutional changes that form new actors and new markets.

Place, publisher, year, edition, pages
Houndmills: Palgrave Macmillan, 2014. p. 232 Edition: 1
Series
Palgrave Macmillan Studies in Banking and Financial Institutions
Keywords
Finance and banking, Capital markets, Banking and financial services, Islamic finance
National Category
Business Administration Economics
Research subject
Economy, Ekonomistyrning; Economy, Business administration; Economy, Economics
Identifiers
urn:nbn:se:lnu:diva-32069 (URN)9781137413581 (ISBN)
Available from: 2014-08-20 Created: 2014-02-05 Last updated: 2019-04-26Bibliographically approved
Lindblom, T., Sjögren, S. & Willesson, M. (Eds.). (2014). Governance, regulation and bank stability (1ed.). Houndmills: Palgrave Macmillan
Open this publication in new window or tab >>Governance, regulation and bank stability
2014 (English)Collection (editor) (Refereed)
Abstract [en]

In order to accomplish a sounder banking industry, banks are challenged to adopt and pursue good governance practices. This challenge relates to decisions and activities conducted by top management and other inside stakeholders, but also increasingly to the collective pressures from, and evaluation measures adopted by, outside stakeholders. This book comprises a selection of high-quality research papers and provides insight into central issues such as deleveraging and other regulatory measures for strengthening bank stability. It includes empirical studies on the relationship between the board structures of banks and their financial risk-taking under extreme market conditions as well as on the financial crisis' impact on banks' lending capacity and the overall financial intermediation model. The book also includes in-depth analyses of the determinants of bank reputation and the future prospects of small banks

Place, publisher, year, edition, pages
Houndmills: Palgrave Macmillan, 2014. p. 269 Edition: 1
Series
Palgrave Macmillan studies in banking and financial institutions
Keywords
Finance and banking, Risk management, Insurance and regulation, Banking and financial services, Corporate finance
National Category
Business Administration Economics
Research subject
Economy, Economics; Economy, Business administration
Identifiers
urn:nbn:se:lnu:diva-32068 (URN)9781137413536 (ISBN)
Available from: 2014-08-20 Created: 2014-02-05 Last updated: 2019-04-26Bibliographically approved
Lindblom, T., Sjögren, S. & Willesson, M. (2014). Institutional change and the design of financial systems (1ed.). In: Ted Lindblom, Stefan Sjögren and Magnus Willesson (Ed.), Financial systems, markets and institutional changes: (pp. 1-8). Houndmills: Palgrave Macmillan
Open this publication in new window or tab >>Institutional change and the design of financial systems
2014 (English)In: Financial systems, markets and institutional changes / [ed] Ted Lindblom, Stefan Sjögren and Magnus Willesson, Houndmills: Palgrave Macmillan, 2014, 1, p. 1-8Chapter in book (Refereed)
Place, publisher, year, edition, pages
Houndmills: Palgrave Macmillan, 2014 Edition: 1
Series
Palgrave Macmillan studies in banking and financial institutions
National Category
Economics
Research subject
Economy, Economics
Identifiers
urn:nbn:se:lnu:diva-32070 (URN)9781137413581 (ISBN)
Available from: 2014-08-20 Created: 2014-02-05 Last updated: 2019-04-26Bibliographically approved
Willesson, M. (2014). New experience from voluntary risk disclosure: operational risk in Nordic banks. The Journal of Financial Management, Markets and Institutions, 2(1), 105-126
Open this publication in new window or tab >>New experience from voluntary risk disclosure: operational risk in Nordic banks
2014 (English)In: The Journal of Financial Management, Markets and Institutions, ISSN 2282-717X, Vol. 2, no 1, p. 105-126Article in journal (Refereed) Published
Abstract [en]

Basel II simultaneously introduced a regulatory framework for operational risk and shifted the regulatoryfocus from top-down to bottom-up governance, prompting increased reliance on self-evaluation andmarket discipline. In this paper we assess the relevance of market discipline to regulation of operationalrisk and the implications of voluntary disclosure. We study the development, determinants and quality ofoperational risk disclosure in the Nordic banking sector following the implementation of Basel II. Ourresults reveal that the extent of disclosure has increased and that size is the main determinant. However,the quality of operational risk disclosure is poor and it does not assist stakeholders’ evaluation of banks’operational risk. Based on our results, we discuss whether disclosure studies can capture quality in terms ofcontent, the impact of regulation on banks of different sizes and whether market discipline is an effectiveregulatory effort to reduce bank risk.

Place, publisher, year, edition, pages
Società editrice il Mulino, 2014
Keywords
Operational risk, Voluntary disclosure, Basel II, Nordic banks
National Category
Business Administration Economics
Research subject
Economy, Business administration; Economy, Economics
Identifiers
urn:nbn:se:lnu:diva-32072 (URN)10.12831/77239 (DOI)
Available from: 2014-09-02 Created: 2014-02-05 Last updated: 2019-04-26Bibliographically approved
Organisations
Identifiers
ORCID iD: ORCID iD iconorcid.org/0000-0003-4744-0305

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