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  • 1.
    Elliot, Viktor
    et al.
    University of Gothenburg, Sweden.
    Lindblom, Ted
    University of Gothenburg, Sweden.
    Willesson, Magnus
    Linnaeus University, School of Business and Economics, Department of Economics and Statistics.
    The impact of recent regulatory reforms on cross-border banking: a study of the Nordic markets2019In: 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)
  • 2.
    Elliot, Viktor
    et al.
    University of Gothenburg, Sweden.
    Willesson, Magnus
    Linnaeus University, School of Business and Economics, Department of Economics and Statistics.
    Does bank regulation spill over to firm financing?: SME financing, bank monitoring, and the efficiency of the bank lending channel2018In: 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.

  • 3.
    Humphrey, David
    et al.
    Florida State University.
    Willesson, Magnus
    School of Business, Economics and Law, University of Gothenburg.
    Bergendahl, Göran
    School of Business, Economics and Law, University of Gothenburg.
    Lindblom, Ted
    School of Business, Economics and Law, University of Gothenburg.
    Benefits from a Changing Payment Technology in European Banking2006In: Journal of Banking & Finance, ISSN 0378-4266, E-ISSN 1872-6372, Vol. 30, no 6, p. 1631-1652Article in journal (Refereed)
    Abstract [en]

    An “output characteristics” cost function is used to identify payment sources of technical change in European banking and estimate associated benefits. As the share of electronic payments in 12 European countries rose from 0.43 in 1987 to 0.79 in 1999 and ATMs expanded while the number of branch offices was constant, bank operating costs are $32 billion lower than they otherwise might have been, saving 0.38% of the 12 nations’ GDP. Policies facilitating these changes (antitrust exemptions to weakly coordinate implementation of payment service pricing) would permit benefits to be more fully realized.

  • 4.
    Humphrey, David
    et al.
    Florida State University, USA.
    Willesson, Magnus
    University of Gothenburg, Sweden.
    Lindblom, Ted
    University of Gothenburg, Sweden.
    Bergendahl, Göran
    University of Gothenburg, Sweden.
    What does it cost to make a payment?2003In: Review of Network Economics, ISSN 1446-9022, E-ISSN 1446-9022, Vol. 2, no 2, p. 159-174Article in journal (Refereed)
    Abstract [en]

    We survey the limited data that exists concerning the cost of making/receiving a payment by banks, retailers, and other parties to a transaction. Since an electronic payment costs between one-third and onehalf that of a paper-based instrument, a country may save 1% of its GDP annually as it shifts from a fully paper-based to a fully electronic-based payment system. Some gains have already been realized. Additional analysis indicates that bank costs of making a payment may have fallen by 45% in Europe as the share of electronic transactions in 12 countries rose from .43 to .79 over 1987-1999.

  • 5.
    Jönsson, Micael
    et al.
    Linnaeus University, Faculty of Business, Economics and Design, Linnaeus School of Business and Economics.
    Willesson, Magnus
    Linnaeus University, Faculty of Business, Economics and Design, Linnaeus School of Business and Economics.
    Operational risk disclosure in Scandinavian banking2011Conference paper (Refereed)
  • 6.
    Lindblom, Ted
    et al.
    School of Business, Economics and Law, University of Gothenburg.
    Olsson, Magnus
    School of Business, Economics and Law, University of Gothenburg.
    Willesson, Magnus
    Linnaeus University, Faculty of Business, Economics and Design, Linnaeus School of Business and Economics.
    Financial Crisis and Bank Profitability2011In: Bank Performance, Risk and Firm Financing / [ed] Phil Molyneux, Palgrave Macmillan, 2011, p. 83-106Chapter in book (Refereed)
  • 7.
    Lindblom, Ted
    et al.
    Göteborgs universitet.
    Sjögren, Stefan
    Göteborgs universitet.
    Willesson, Magnus
    Linnaeus University, School of Business and Economics, Department of Management Accounting and Logistics.
    Challenges for banks and a new regulatory framework2014In: Governance, regulation and bank stability / [ed] Ted Lindblom, Stefan Sjögren and Magnus Willesson, Houndmills: Palgrave Macmillan, 2014, 1, p. 1-8Chapter in book (Refereed)
  • 8.
    Lindblom, Ted
    et al.
    School of Business, Economics and Law, University of Gothenburg.
    Sjögren, StefanSchool of Business, Economics and Law, University of Gothenburg.Willesson, MagnusLinnaeus University, School of Business and Economics, Department of Management Accounting and Logistics.
    Financial systems, markets and institutional changes2014Collection (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.

  • 9.
    Lindblom, Ted
    et al.
    Göteborgs universitet.
    Sjögren, StefanGöteborgs universitet.Willesson, MagnusLinnaeus University, School of Business and Economics, Department of Management Accounting and Logistics.
    Governance, regulation and bank stability2014Collection (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

  • 10.
    Lindblom, Ted
    et al.
    Göteborgs universitet.
    Sjögren, Stefan
    Göteborgs universitet.
    Willesson, Magnus
    Linnaeus University, School of Business and Economics, Department of Management Accounting and Logistics.
    Institutional change and the design of financial systems2014In: 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)
  • 11.
    Lindblom, Ted
    et al.
    School of Business, Economics and Law, University of Gothenburg.
    Willesson, Magnus
    Linnaeus University, Faculty of Business, Economics and Design, Linnaeus School of Business and Economics.
    Banks' Measurement of Operational Risk and the Effect on Regulatory Capital2010In: New Issues in Financial and Credit Markets / [ed] Franco Fiordelisi, Phil Molyneux and Daniele Previati, Palgrave Macmillan, 2010, p. 200-212Chapter in book (Refereed)
  • 12.
    Lindblom, Ted
    et al.
    School of Business, Economics and Law, University of Gothenburg.
    Willesson, Magnus
    Linnaeus University, School of Business and Economics, Department of Management Accounting and Logistics.
    Basel III and banking efficiency2013In: Bank Performance, Risk and Securitisation / [ed] Joseph Falzon, Palgrave Macmillan, 2013, p. 20-36Chapter in book (Refereed)
    Abstract [en]

    The overall aim of the Basel III accord is to minimize and preferably eliminate the risk of global financial turmoil in the future. The accord emphasizes the importance of increasing the capitalization of banks and their liquidity. In this chapter the authors analyze its likely impact on banking efficiency. The analysis is based on a fictitious bank which is operating at the very edge of the Basel II regulatory capital requirement and gradually adapting to the new regulatory framework. This analysis demonstrates that the new liquidity and capital adequacy requirements of Basel III are likely to have substantial effects on both the returns and risk exposures of banks. The higher liquidity requirement will not only lower the bank’s liquidity risk, which will lead to less interest revenue, but will also lower its interest rate risk exposure. Then the sharpened capital adequacy requirements will result in lower return on equity. On the other hand, the return on assets will increase due to lower proportion of debt in the bank’s funding. The analysis also implies that Basel III will cause a large price effect if market competition is too weak to make banks price takers. Hence, a bank’s customers will have to pay higher prices for loans of the same risk class and/or get paid lower interest rates on their savings and deposits.

  • 13.
    Lindblom, Ted
    et al.
    School of Business, Economics and Law, University of Gothenburg.
    Willesson, Magnus
    Linnaeus University, Faculty of Business, Economics and Design, Linnaeus School of Business and Economics.
    Basel III and Banking Efficiency2012Conference paper (Refereed)
    Abstract [en]

    The overall aim of the Basel III accord is to minimize and preferably eliminate the risk of a new global financial turmoil in the future. The new accord is particularly emphasising the importance of increasing the capitalization of banks in order to strengthening financial system stability. Basel III requires that banks set aside more ‘core’ equity capital than under the current Basel II accord. Banks are also required to gradually build-up an additional capital conservation buffer of 2.5 percentage units and, if the national regulator so decides, an equally large countercyclical buffer during periods of high credit growth. Besides this, the new accord introduces minimum liquidity requirements both on a monthly and annual basis. In this chapter we study the likely impact of the new regulation on banking operations and efficiency. What is the cost? In the prospect of increased core capital and new liquidity requirements there are already signs of larger Swedish banks reducing their trading operations and widening their interest rate spread differential. Will the new regulation mean a re-shaping of banks and that arbitraging activities move to less regulated parts of the financial industry? What can we learn from structural changes following Basel II when assessing and evaluating the impact of Basel III?

  • 14.
    Lindblom, Ted
    et al.
    University of Gothenburg, School of Business, Economics and Law.
    Willesson, Magnus
    Linnaeus University, Faculty of Business, Economics and Design, Linnaeus School of Business and Economics.
    Financial Crisis and EU banks' Performance2012In: Crisis, Risk and Stability in Financial Markets / [ed] Juan Fernández de Guevara Radoselovics & José Pastor Monsálvez, Palgrave Macmillan, 2012, p. 24-48Chapter in book (Refereed)
  • 15.
    Willesson, Magnus
    Linnaeus University, School of Business and Economics, Department of Economics and Statistics.
    A Note on Regulatory arbitrage: Bank risk, Capital risk, Interest rate risk and ALM in European Banking2016In: 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.

  • 16.
    Willesson, Magnus
    Linnaeus University, School of Business and Economics, Department of Management Accounting and Logistics.
    New experience from voluntary risk disclosure: operational risk in Nordic banks2014In: The Journal of Financial Management, Markets and Institutions, ISSN 2282-717X, Vol. 2, no 1, p. 105-126Article in journal (Refereed)
    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.

  • 17.
    Willesson, Magnus
    University of Gothenburg.
    Payment Efficiency and Payment Pricing: Four Essays2007Doctoral thesis, comprehensive summary (Other academic)
    Abstract [en]

    The four essays in this Doctoral thesis provide new evidence of efficiency in electronic payments and banks due to the technological change in payment distribution systems and how banks can utilize and develop their pricing of payments in the presence of changing technology.

    “Benefits from a Changing Payment Technology in European Banking” identifies cost savings from technical change in European banking. Increasing use of electronic payments and ATMs in 12 European countries make banking operations costs $32 billion lower than they otherwise might have been, saving 0.38% of the 12 nations' GDP.

    “Efficiency of Banking Systems from Use of ATMs and Electronic Payments” analyses if the use of electronic payments and ATMs leads to more efficient banking. Part of the benefit seems to be passed on to the consumers which make effects on banking efficiency low even though more efficient payments are made.

    “Pricing of Card Payment Services in Scandinavian Banking” analyses why Scandinavian banks charge their card payment services to consumers the way they do. The different pricing strategies among banks are evaluated with respect to country specific and banking specific factors. The banks show low interest in charging transaction fees in order to encourage changing payment technology.

    “How Should a Bank Price Payment Services? – Challenges from the Theory of Two-Sided Networks” analyzes the manner in which a bank should price payment services. This includes the fact that the bank has the option to make profit on price bundling as well as from several payment networks. In addition to analysis of benefit based on two-sided markets, the profit at banks requires analysis of the consumers’ and merchants’ decisions for being member in a payment network or using a payment network. The analysis of the intrinsic benefits and network benefits is therefore complemented by analysis of their associated benefits.

  • 18.
    Willesson, Magnus
    School of Business, Economics and Law, University of Gothenburg.
    Pricing in Payment Networks – A Case Study of Swedish Savings Banks and the Sharing of Fixed Costs in Two-Sided Networks2007In: Size and Efficiency in the European Banking Industry / [ed] Eleuterio Vallelado & Philip Molyneux, Granada: Editorial Comares, 2007Chapter in book (Refereed)
  • 19.
    Willesson, Magnus
    Göteborgs universitet.
    Pricing of Card Payment Services in Scandinavian Banking2009In: Service Industries Journal, ISSN 0264-2069, E-ISSN 1743-9507, Vol. 29, no 3, p. 387-399Article in journal (Refereed)
    Abstract [en]

    Pricing of card payment services includes many considerations of cost and revenue in an environment of changing payment technology, network effects in two-sided markets and price bundling. This paper describes the consumer pricing methods for card payment services by Scandinavian banks and evaluates their explicit pricing methods. The main findings suggest that Scandinavian banks in general are more interested in earning revenue from implicit prices than in encouraging the use of more cost efficient technology by charging explicit transaction fees. However, the pricing methods applied may vary, depending on the country and a bank's service supply

  • 20.
    Willesson, Magnus
    Linnaeus University, Faculty of Business, Economics and Design, Linnaeus School of Business and Economics.
    Reply to: Pricing of Card Payment Services in Scandinavian Banking: a Comment, by Leo van Hove2011In: Service Industries Journal, ISSN 0264-2069, E-ISSN 1743-9507, ISSN 507, Vol. 31, no 11, p. 1799-1807Article in journal (Refereed)
    Abstract [en]

    A comment on the previously published paper ‘Pricing of card payment services in Scandinavian banking’ has been written by Leo Van Hove and published in this issue of The Service Industries Journal; it suggests alternative analytical approaches and other implications of the results. This reply develops the study further, providing new presentations of the empirical data and discussing its conclusions. The suggestions and approaches provided by Van Hove do not change the conclusions drawn in the paper, and in-depth implications of the results in a wider context are outside the scope of the paper. However, this reply proposes further empirical studies regarding the pricing of card payment services.

  • 21.
    Willesson, Magnus
    Linnaeus University, School of Business and Economics, Department of Economics and Statistics.
    Risk and Efficiency in European Banking: Does Corporate Governance Matter?2015In: 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.

  • 22.
    Willesson, Magnus
    Linnaeus University, School of Business and Economics, Department of Economics and Statistics.
    What is and what is not regulatory arbitrage?: a literature review and syntheses2017In: Financial markets, SME financing and emerging economies / [ed] Giusy Chesini, Elisa Giaretta & Andrea Paltrinieri, Palgrave Macmillan, 2017, p. 71-94Chapter in book (Refereed)
1 - 22 of 22
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