Sascha Steffen

Frankfurt School of Finance & Management

Adickesallee

32-34

Frankfurt, 60322

Germany

http://www.sascha-steffen.de

Centre for Economic Policy Research (CEPR)

London

United Kingdom

SCHOLARLY PAPERS

56

DOWNLOADS
Rank 1,804

SSRN RANKINGS

Top 1,804

in Total Papers Downloads

34,586

TOTAL CITATIONS
Rank 625

SSRN RANKINGS

Top 625

in Total Papers Citations

852

Scholarly Papers (56)

1.

Climate Transition Risks of Banks

Swiss Finance Institute Research Paper No. 23-66
Number of pages: 78 Posted: 28 Aug 2023 Last Revised: 15 Dec 2024
Frankfurt School of Finance & Management, University of Zurich - Department of Finance, Frankfurt School of Finance & Management and Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE)
Downloads 1,673 (22,778)
Citation 1

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Climate Transition Risks, Banks, Syndicated Loans, Disclosure, Lobbying

2.
Downloads 1,597 (24,429)
Citation 43

Syndication, Interconnectedness, and Systemic Risk

Number of pages: 50 Posted: 19 Nov 2009 Last Revised: 18 Dec 2017
Washington University in St. Louis, ZEW – Leibniz Centre for European Economic Research, New York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 1,287 (33,113)
Citation 41

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Interconnectedness, networks, syndicated loans, systemic risk

Syndication, Interconnectedness, and Systemic Risk

NYU Working Paper No. 2451/31373
Number of pages: 50 Posted: 16 Dec 2011
Jian Cai, Anthony Saunders and Sascha Steffen
Washington University in St. Louis, New York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 310 (203,854)
Citation 2

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3.

Shadow Always Touches the Feet: Implications of Bank Credit Lines to Non-Bank Financial Intermediaries

Number of pages: 93 Posted: 30 May 2024 Last Revised: 12 Mar 2025
New York University (NYU) - Leonard N. Stern School of Business, Georgia Institute of Technology - Scheller College of Business, Frankfurt School of Finance and Management and Frankfurt School of Finance & Management
Downloads 1,567 (25,153)

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shadow banks, NBFIs, commercial real estate, CRE, real estate investment trust, REITs, systemic risk, bank capital, stress tests

Falling Short of Expectations? Stress-Testing the European Banking System

Number of pages: 25 Posted: 23 Dec 2013
Viral V. Acharya, Viral V. Acharya and Sascha Steffen
New York University (NYU) - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 964 (50,169)
Citation 37

Abstract:

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AQR, stress tests, banking union, bail-out

Falling Short of Expectations? Stress-Testing the European Banking System

CEPS Policy Brief No. 315
Number of pages: 21 Posted: 21 Jan 2014
Viral V. Acharya, Viral V. Acharya and Sascha Steffen
New York University (NYU) - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 328 (191,871)

Abstract:

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ECB, Asset Quality Review, AQR, European banks, European Banking System

5.

A Zero-Risk Weight Channel of Sovereign Risk Spillovers

Number of pages: 49 Posted: 13 Feb 2014 Last Revised: 18 Jun 2019
Karolin Kirschenmann, Josef Korte and Sascha Steffen
ZEW – Leibniz Centre for European Economic Research, Goethe University Frankfurt - Faculty of Economics and Business Administration and Frankfurt School of Finance & Management
Downloads 1,288 (33,659)
Citation 16

Abstract:

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sovereign debt, sovereign risk, spillovers, bank risk, CDS, zero risk weight exemption

6.

Corporate Loan Spreads and Economic Activity

NYU Stern School of Business Forthcoming
Number of pages: 52 Posted: 09 Jan 2021 Last Revised: 28 Feb 2024
New York University - Leonard N. Stern School of Business, University of Technology Sydney (UTS), Frankfurt School of Finance & Management and Halle Institute for Economic Research
Downloads 1,215 (36,582)
Citation 4

Abstract:

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Credit spreads, Secondary loan market, Bonds, Credit supply, Business cycle

7.

A Capital Structure Channel of Monetary Policy

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 67 Posted: 19 Jun 2017 Last Revised: 11 Dec 2018
Frankfurt School of Finance and Management, Frankfurt School of Finance & Management and Halle Institute for Economic Research
Downloads 1,200 (37,270)
Citation 29

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debt capital structure, bond debt, unconventional monetary policy, CSPP, real effects

What Do a Million Observations Have to Say About Loan Defaults? Opening the Black Box of Relationships

Number of pages: 40 Posted: 17 Mar 2010 Last Revised: 30 Jan 2017
Manju Puri, Jörg Rocholl and Sascha Steffen
Duke University - Fuqua School of Business, ESMT European School of Management and Technology and Frankfurt School of Finance & Management
Downloads 814 (63,245)
Citation 58

Abstract:

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Bank lending, relationship specific information, discretion, loan defaults, monitoring, screening

On the Importance of Prior Relationships in Bank Loans to Retail Customers

ECB Working Paper No. 1395
Number of pages: 73 Posted: 21 Nov 2011
Manju Puri, Jörg Rocholl and Sascha Steffen
Duke University - Fuqua School of Business, ESMT European School of Management and Technology and Frankfurt School of Finance & Management
Downloads 334 (188,148)

Abstract:

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retail banking, relationships, default rates, monitoring, screening

9.
Downloads 1,131 (40,652)
Citation 26

Covenant Violations and Dynamic Loan Contracting

Journal of Corporate Finance, Forthcoming, AFA 2013 San Diego Meetings Paper, NYU Working Paper No. FIN-11-042
Number of pages: 74 Posted: 20 Nov 2011 Last Revised: 24 May 2017
Goethe University Frankfurt - Department of Finance, Deutsche Bundesbank - Research Centre, New York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 896 (55,511)
Citation 26

Abstract:

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Control Rights, Covenant Violation, Dynamic Loan Contracting, Stigma

Covenant Violations, Loan Contracting, and Default Risk of Bank Borrowers

NYU Working Paper No. 2451/31417
Number of pages: 42 Posted: 26 Jun 2013
New York University - Leonard N. Stern School of Business, Frankfurt School of Finance & Management, Goethe University Frankfurt - Department of Finance and Deutsche Bundesbank
Downloads 235 (271,037)

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10.

The 'Greatest' Carry Trade Ever? Understanding Eurozone Bank Risks

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 51 Posted: 29 Apr 2013 Last Revised: 30 Sep 2015
Viral V. Acharya, Viral V. Acharya and Sascha Steffen
New York University (NYU) - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 1,087 (43,115)
Citation 30

Abstract:

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Sovereign debt crisis, banking crisis, risk-shifting, regulatory arbitrage, home bias

11.
Downloads 1,030 (46,506)
Citation 18

Trends in Corporate Borrowing

Annual Review of Financial Economics, Vol. 13, pp. 321-340, 2021
Posted: 09 Nov 2021
Tobias Berg, Anthony Saunders and Sascha Steffen
Goethe University Frankfurt, New York University (NYU) and Frankfurt School of Finance & Management

Abstract:

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Trends in Corporate Borrowing

Annual Review of Financial Economics 2020, NYU Stern School of Business Forthcoming
Number of pages: 42 Posted: 25 Oct 2020
Tobias Berg, Anthony Saunders and Sascha Steffen
Goethe University Frankfurt, New York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 1,030 (45,761)
Citation 18

Abstract:

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Corporate borrowing, loans, bonds, contingent liquidity, institutional investors, loan purposes

12.

The Total Cost of Corporate Borrowing in the Loan Market: Don't Ignore the Fees

Journal of Finance, Forthcoming
Number of pages: 49 Posted: 02 Nov 2012 Last Revised: 03 Apr 2015
Tobias Berg, Anthony Saunders and Sascha Steffen
Goethe University Frankfurt, New York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 1,020 (47,135)
Citation 48

Abstract:

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Options and syndicated loans, fees, asymmetric information

13.

'Brexit' and the Contraction of Syndicated Lending

Number of pages: 36 Posted: 23 Nov 2016 Last Revised: 27 May 2020
Goethe University Frankfurt, New York University - Leonard N. Stern School of Business, Frankfurt School of Finance & Management and Frankfurt School of Finance & Management
Downloads 997 (48,671)
Citation 4

Abstract:

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Brexit, Syndicated Loans, Competition, Financial Centers

14.
Downloads 995 (48,807)
Citation 30

Government Guarantees and Bank Risk Taking Incentives

AFA 2012 Chicago Meetings Paper
Number of pages: 52 Posted: 15 Mar 2011 Last Revised: 12 Feb 2014
Goethe University Frankfurt - Department of Finance, CESifo (Center for Economic Studies and Ifo Institute) - Ifo Institute, ESMT European School of Management and Technology and Frankfurt School of Finance & Management
Downloads 487 (121,901)
Citation 10

Abstract:

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Government Guarantees, Exits, Risk Taking, Franchise Value, Financial Crisis, Loans

Government Guarantees and Bank Risk Taking Incentives

ESMT Working Paper No. 14-02
Number of pages: 56 Posted: 13 Feb 2014
Goethe University Frankfurt - Department of Finance, CESifo (Center for Economic Studies and Ifo Institute) - Ifo Institute, ESMT European School of Management and Technology and Frankfurt School of Finance & Management
Downloads 272 (233,972)
Citation 20

Abstract:

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Government guarantees, exits, risk taking, franchise value, financial crisis, loans

Government Guarantees and Bank Risk Taking Incentives

CESifo Working Paper Series No. 4706
Number of pages: 53 Posted: 16 Apr 2014
Goethe University Frankfurt - Department of Finance, CESifo (Center for Economic Studies and Ifo Institute) - Ifo Institute, ESMT European School of Management and Technology and Frankfurt School of Finance & Management
Downloads 236 (269,851)

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government guarantees, exits, risk taking, franchise value, financial crisis, loans

15.

Analyzing Systemic Risk of the European Banking Sector

Handbook on Systemic Risk, J.P. Fouque and J. Langsam, eds., Cambridge University Press, Forthcoming
Number of pages: 37 Posted: 23 Sep 2012
Viral V. Acharya, Viral V. Acharya and Sascha Steffen
New York University (NYU) - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 981 (49,856)

Abstract:

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Banks, Systemic risk, Europe

16.

Liquidity Dependence and the Waxing and Waning of Central Bank Balance Sheets

Number of pages: 61 Posted: 11 Oct 2022 Last Revised: 01 Dec 2024
New York University (NYU) - Leonard N. Stern School of Business, University of Chicago - Booth School of Business, University of Chicago - Booth School of Business and Frankfurt School of Finance & Management
Downloads 929 (53,639)
Citation 4

Abstract:

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Federal Reserve, quantitative easing, large-scale asset purchases, quantitative tightening, Fed normalization, deposits, lines of credit, financial stability, financial fragility, monetary policy

17.

The Wolves of Wall Street? Managerial Attributes and Bank Risk

Number of pages: 43 Posted: 08 Oct 2015 Last Revised: 08 Jun 2021
King’s College London - King's Business School, New York University - Leonard N. Stern School of Business, Frankfurt School of Finance & Management and Durham University
Downloads 907 (55,524)
Citation 3

Abstract:

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Banks, managerial style, corporate governance, risk

18.

The Costs of Being Private: Evidence from the Loan Market

Review of Financial Studies, Forthcoming
Number of pages: 57 Posted: 01 Feb 2009 Last Revised: 30 May 2011
Anthony Saunders and Sascha Steffen
New York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 868 (58,894)
Citation 23

Abstract:

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Banks, Syndicated loans, Costs of being private

19.
Downloads 844 (61,235)
Citation 1

Why Did Bank Stocks Crash during COVID-19?

Number of pages: 76 Posted: 09 Mar 2021 Last Revised: 06 Sep 2023
New York University (NYU) - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance, Frankfurt School of Finance and Management and Frankfurt School of Finance & Management
Downloads 731 (72,946)
Citation 1

Abstract:

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Credit lines, liquidity risk, bank capital, loan supply, stress tests, pandemic, COVID-19

Why Did Bank Stocks Crash During Covid-19?

NBER Working Paper No. w28559
Number of pages: 77 Posted: 15 Mar 2021 Last Revised: 15 Jul 2023
New York University (NYU) - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Frankfurt School of Finance & Management
Downloads 109 (528,246)

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Why Did Bank Stocks Crash During Covid-19?

CEPR Discussion Paper No. DP15901
Number of pages: 85 Posted: 15 Mar 2021 Last Revised: 14 May 2021
New York University (NYU) - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Frankfurt School of Finance & Management
Downloads 4 (1,336,869)
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20.

Lender of Last Resort, Buyer of Last Resort, and a Fear of Fire Sales in the Sovereign Bond Market

ZEW - Centre for European Economic Research Discussion Paper No. 16-019, Swiss Finance Institute Research Paper No. 18-35
Number of pages: 67 Posted: 12 Apr 2016 Last Revised: 28 Dec 2020
New York University (NYU) - Leonard N. Stern School of Business, Universite du Luxembourg - Luxembourg School of Finance and Frankfurt School of Finance & Management
Downloads 826 (63,016)
Citation 13

Abstract:

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Bank-sovereign nexus, ECB, financial stability, unconventional monetary policy

21.

Does Zombie Lending Impair Innovation?

Number of pages: 42 Posted: 05 Dec 2019 Last Revised: 31 Aug 2024
University of Mannheim, University of Mannheim, Frankfurt School of Finance & Management and Halle Institute for Economic Research
Downloads 805 (65,257)
Citation 9

Abstract:

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Zombie lending, innovation, competition, Europe, economic growth, post-crisis recovery

Global Retail Lending in the Aftermath of the US Financial Crisis: Distinguishing between Supply and Demand Effects

Number of pages: 52 Posted: 02 May 2009 Last Revised: 15 Jun 2010
Manju Puri, Jörg Rocholl and Sascha Steffen
Duke University - Fuqua School of Business, ESMT European School of Management and Technology and Frankfurt School of Finance & Management
Downloads 633 (87,839)
Citation 5

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Global Retail Lending in the Aftermath of the US Financial Crisis: Distinguishing between Supply and Demand Effects

FDIC Working Paper No. 2011-05
Number of pages: 54 Posted: 10 Jan 2012
Manju Puri, Jörg Rocholl and Sascha Steffen
Duke University - Fuqua School of Business, ESMT European School of Management and Technology and Frankfurt School of Finance & Management
Downloads 92 (595,308)
Citation 40

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Global Retail Lending in the Aftermath of the Us Financial Crisis: Distinguishing between Supply and Demand Effects

NBER Working Paper No. w16967
Number of pages: 53 Posted: 25 Apr 2011 Last Revised: 13 May 2023
Manju Puri, Jörg Rocholl and Sascha Steffen
Duke University - Fuqua School of Business, ESMT European School of Management and Technology and Frankfurt School of Finance & Management
Downloads 53 (807,140)

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The Risk of Being a Fallen Angel and the Corporate Dash for Cash in the Midst of COVID

Review of Corporate Finance Studies (Forthcoming), NYU Stern School of Business Forthcoming
Number of pages: 54 Posted: 08 Oct 2020
Viral V. Acharya, Viral V. Acharya and Sascha Steffen
New York University (NYU) - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 451 (134,135)
Citation 13

Abstract:

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COVID-19, credit lines, credit risk, cash holdings, fallen angels

The Risk of Being a Fallen Angel and the Corporate Dash for Cash in the Midst of COVID

NYU Stern School of Business
Number of pages: 54 Posted: 28 Jul 2020
Viral V. Acharya, Viral V. Acharya and Sascha Steffen
New York University (NYU) - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 215 (295,389)
Citation 4

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Liquidity, liquidity risk, cash holdings, bank lines of credit, pandemic

The Risk of Being a Fallen Angel and the Corporate Dash for Cash in the Midst of Covid

NBER Working Paper No. w27601
Number of pages: 54 Posted: 04 Aug 2020 Last Revised: 02 Jun 2023
Viral V. Acharya, Viral V. Acharya and Sascha Steffen
New York University (NYU) - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 109 (528,246)
Citation 125

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The Risk of Being a Fallen Angel and the Corporate Dash for Cash in the Midst of COVID

CEPR Discussion Paper No. DP15073
Number of pages: 57 Posted: 28 Jul 2020 Last Revised: 21 Aug 2020
Viral V. Acharya, Viral V. Acharya and Sascha Steffen
New York University (NYU) - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 1 (1,360,132)
Citation 1
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Bank lines of credit, cash holdings, liquidity, liquidity risk, Pandemic

Mind the Gap: The Difference between U.S. and European Loan Rates

Number of pages: 55 Posted: 30 Nov 2013 Last Revised: 04 Sep 2017
Goethe University Frankfurt, New York University - Leonard N. Stern School of Business, Frankfurt School of Finance & Management and Halle Institute for Economic Research
Downloads 641 (86,411)
Citation 3

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Loans, corporate debt, fees, market integration, globalization

Mind the Gap: The Difference between U.S. and European Loan Rates

ZEW - Centre for European Economic Research Discussion Paper No. 16-018
Number of pages: 50 Posted: 12 Apr 2016
Goethe University Frankfurt, New York University - Leonard N. Stern School of Business, Frankfurt School of Finance & Management and Halle Institute for Economic Research
Downloads 74 (678,671)
Citation 29

Abstract:

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Loans, corporate debt, fees, market integration, globalization

25.

CovenantAI - New Insights into Covenant Violations

Number of pages: 66 Posted: 29 Nov 2023 Last Revised: 16 Feb 2024
Frankfurt School of Finance & Management, New York University - Leonard N. Stern School of Business, Frankfurt School of Finance & Management and Frankfurt School of Finance & Management
Downloads 704 (77,703)

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Covenant violations, Loan amendments, Waiver, Big data, Large language models, 10K/Q, Leveraged loans, COVID-19

26.

Similar Investors

Number of pages: 74 Posted: 09 Oct 2018 Last Revised: 09 Dec 2024
Co-Pierre Georg, Diane Pierret and Sascha Steffen
Frankfurt School of Finance & Management, Universite du Luxembourg - Luxembourg School of Finance and Frankfurt School of Finance & Management
Downloads 632 (159,337)
Citation 1

Abstract:

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institutional investors, liquidity risk, portfolio similarity, wholesale funding

Kicking the Can Down the Road: Government Interventions in the European Banking Sector

Number of pages: 62 Posted: 14 Oct 2018 Last Revised: 07 Jul 2020
New York University (NYU) - Leonard N. Stern School of Business, University of Mannheim, Frankfurt School of Finance and Management and Frankfurt School of Finance & Management
Downloads 571 (100,167)
Citation 4

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regulatory forbearance; evergreening; zombie lending; sovereign debt crisis; bank recapitalization; fiscal constraints; political economy

Kicking the Can Down the Road: Government Interventions in the European Banking Sector

NBER Working Paper No. w27537
Number of pages: 63 Posted: 24 Jul 2020 Last Revised: 30 Mar 2023
New York University (NYU) - Leonard N. Stern School of Business, University of Mannheim, Frankfurt School of Finance and Management and Frankfurt School of Finance & Management
Downloads 41 (905,121)

Abstract:

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Kicking the Can Down the Road: Government Interventions in the European Banking Sector

CEPR Discussion Paper No. DP15009
Number of pages: 65 Posted: 28 Jul 2020 Last Revised: 16 Aug 2020
New York University (NYU) - Leonard N. Stern School of Business, Frankfurt School of Finance and Management, Frankfurt School of Finance & Management and University of Mannheim
Downloads 1 (1,360,132)
Citation 5
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Bank Recapitalization, evergreening, fiscal constraints, Forbearance, political economy, sovereign debt crisis, zombie lending

Liquidity Dependence and the Waxing and Waning of Central Bank Balance Sheets

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2022-19
Number of pages: 61 Posted: 26 Jan 2022 Last Revised: 01 Dec 2024
New York University (NYU) - Leonard N. Stern School of Business, University of Chicago - Booth School of Business, University of Chicago - Booth School of Business and Frankfurt School of Finance & Management
Downloads 571 (100,167)
Citation 1

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Federal Reserve, quantitative easing, large-scale asset purchases, quantitative tightening, Fed normalization, demandable deposits, uninsured deposits, lines of credit, financial stability, unconventional monetary policy.

29.

Loan Syndication Structures and Price Collusion

Number of pages: 50 Posted: 09 Oct 2018
Washington University in St. Louis, ZEW – Leibniz Centre for European Economic Research, New York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 583 (98,856)
Citation 3

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Syndicated Loans, Loan Syndication Structure, Loan Pricing, Price Collusion

30.

Robustness, Validity and Significance of the ECB's Asset Quality Review and Stress Test Exercise

Number of pages: 42 Posted: 02 Nov 2014
Sascha Steffen
Frankfurt School of Finance & Management
Downloads 496 (120,702)
Citation 12

Abstract:

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SSM, Banking Union, ECB, stress test

31.

Bank Capital, Competition and Loan Spreads

Number of pages: 27 Posted: 14 Feb 2012 Last Revised: 15 Feb 2012
Markus Fischer, Julian A. Mattes and Sascha Steffen
Goethe University Frankfurt - Department of Finance, Goethe University Frankfurt - Department of Finance and Frankfurt School of Finance & Management
Downloads 449 (136,077)
Citation 6

Abstract:

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capital ratio, competition, information asymmetry, loan spreads

32.

Liquidity Dependence and the Waxing and Waning of Central Bank Balance Sheets

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2023-38
Number of pages: 66 Posted: 17 Mar 2023
New York University (NYU) - New York University, University of Chicago - Booth School of Business, University of Chicago - Booth School of Business and Frankfurt School of Finance & Management
Downloads 422 (146,252)

Abstract:

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Federal Reserve, quantitative easing, large-scale asset purchases, quantitative tightening, Fed normalization, deposits, lines of credit, financial stability, monetary policy

Do Debt Investors Care About ESG Ratings?

ECB Working Paper No. 2023/2878
Number of pages: 55 Posted: 27 Nov 2023
University of Bern, University of Bern, Frankfurt School of Finance & Management and Frankfurt School of Finance & Management
Downloads 386 (160,361)

Abstract:

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climate finance, ESG ratings, loan spreads, private firms

Do Debt Investors Care about ESG Ratings?

Number of pages: 48 Posted: 10 Mar 2022
Kornelia Fabisik, Larissa Schäfer and Sascha Steffen
University of Bern, Frankfurt School of Finance & Management and Frankfurt School of Finance & Management
Downloads 30 (1,016,529)

Abstract:

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JEL classification: E44, G20, G24 ESG ratings, Debt investors, Loan spreads, CLO

34.

Monetary Policy in the Age of Social Media: A Twitter-Based Inflation Analysis

Number of pages: 45 Posted: 29 Sep 2023
Frankfurt School of Finance & Management, Frankfurt School of Finance & Management, Frankfurt School of Finance and Management and Frankfurt School of Finance & Management
Downloads 381 (164,266)

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Inflation expectations, monetary policy, household consumption, text mining, machine learning, Twitter, big data, transformer models, ChatGPT

Zombie Lending: Theoretical, International, and Historical Perspectives

Number of pages: 28 Posted: 18 Nov 2021 Last Revised: 28 Mar 2022
New York University (NYU) - Leonard N. Stern School of Business, Federal Reserve Banks - Federal Reserve Bank of New York, Nova School of Business and Economics and Frankfurt School of Finance & Management
Downloads 349 (179,281)
Citation 5

Abstract:

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zombie credit, credit misallocation, capital misallocation, bank capital, undercapitalized banks, interst rate subsidy, spillovers

Zombie Lending: Theoretical, International and Historical Perspectives

NBER Working Paper No. w29904
Number of pages: 29 Posted: 04 Apr 2022 Last Revised: 14 Apr 2023
New York University (NYU) - Leonard N. Stern School of Business, Federal Reserve Banks - Federal Reserve Bank of New York, Nova School of Business and Economics and Frankfurt School of Finance & Management
Downloads 19 (1,153,790)
Citation 2

Abstract:

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Zombie Lending: Theoretical, International, and Historical Perspectives

CEPR Discussion Paper No. DP16685
Number of pages: 31 Posted: 09 Nov 2021 Last Revised: 29 Mar 2022
New York University (NYU) - Leonard N. Stern School of Business, Federal Reserve Banks - Federal Reserve Bank of New York, Nova School of Business and Economics and Frankfurt School of Finance & Management
Downloads 1 (1,360,132)
Citation 28
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bank capital, capital misallocation, Credit misallocation, interst rate subsidy, Spillovers, undercapitalized banks, zombie credit

36.

The Total Costs of Corporate Borrowing in the Loan Market: Don't Ignore the Fees

ZEW - Centre for European Economic Research Discussion Paper No. 17
Number of pages: 51 Posted: 14 Sep 2018
Tobias Berg, Anthony Saunders and Sascha Steffen
Goethe University Frankfurt, New York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 348 (181,488)
Citation 32

Abstract:

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37.

Does the Lack of Financial Stability Impair the Transmission of Monetary Policy?

Number of pages: 56 Posted: 16 Nov 2015 Last Revised: 14 Nov 2019
New York University (NYU) - Leonard N. Stern School of Business, Deutsche Bundesbank - Research Centre, Frankfurt School of Finance & Management and Goethe University Frankfurt - House of Finance
Downloads 342 (184,998)
Citation 7

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Central Bank Liquidity, Unconventional Monetary Policy, Monetary Policy Transmission, Corporate Deposits, Financial Crisis, Banking Crisis, Loans, Real Effects

38.

Diversification or Specialization? An Analysis of Distance and Collaboration in Loan Syndication Networks

Number of pages: 47 Posted: 25 Feb 2017
Washington University in St. Louis, ZEW – Leibniz Centre for European Economic Research, New York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 340 (186,180)
Citation 3

Abstract:

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Syndicated loans, Networks, Bank competition, Specialization, Screening

39.

Rules Versus Discretion in Bank Lending Decisions

Number of pages: 43 Posted: 20 Mar 2011
Manju Puri, Jörg Rocholl and Sascha Steffen
Duke University - Fuqua School of Business, ESMT European School of Management and Technology and Frankfurt School of Finance & Management
Downloads 328 (193,486)
Citation 14

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Bank lending, discretion, soft information, default rates

40.

Do Information Rents in Loan Spreads Persist over the Business Cycles?

Journal of Financial Services Research, Forthcoming
Number of pages: 29 Posted: 03 Mar 2008 Last Revised: 08 Feb 2012
Julian A. Mattes, Sascha Steffen and Mark Wahrenburg
Goethe University Frankfurt - Department of Finance, Frankfurt School of Finance & Management and Faculty of Economics and Business Administration
Downloads 302 (211,343)
Citation 2

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Syndicated loans, Hold-up, Lending relationships, Business cycle

41.

The Zero Risk Fallacy? Banks' Sovereign Exposure and Sovereign Risk Spillovers

ZEW - Centre for European Economic Research Discussion Paper No. 17-069
Number of pages: 62 Posted: 21 Dec 2017
Karolin Kirschenmann, Josef Korte and Sascha Steffen
ZEW – Leibniz Centre for European Economic Research, Goethe University Frankfurt - Faculty of Economics and Business Administration and Frankfurt School of Finance & Management
Downloads 253 (253,507)
Citation 21

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Sovereign debt, sovereign risk, bank risk, CDS, contagion, zero risk weight, Basel III, CRD, EBA capital exercise

42.

Estimating German Bank Climate Risk Exposure using the EU Emissions Trading System

Number of pages: 20 Posted: 21 Nov 2022
Florian Hoffner and Sascha Steffen
Commerzbank AG and Frankfurt School of Finance & Management
Downloads 218 (292,923)

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Climate change, banks, CO2 emissions, private firms, Germany

43.

Does the Lack of Financial Stability Impair the Transmission of Monetary Policy?

CFS Working Paper, No. 620, 2019
Number of pages: 60 Posted: 07 May 2019 Last Revised: 21 May 2019
Government of India - Reserve Bank of India, Deutsche Bundesbank - Research Centre, Frankfurt School of Finance & Management and Goethe University Frankfurt - House of Finance
Downloads 214 (298,126)
Citation 2

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central bank liquidity, monetary policy transmission, corporate deposits, financial crisis, lender of last resort, banking crisis, loans, real effects

44.

Are risky banks disciplined by large corporate depositors?

Number of pages: 48 Posted: 01 Mar 2021 Last Revised: 15 Dec 2021
Björn Imbierowicz, Anthony Saunders and Sascha Steffen
Deutsche Bundesbank - Research Centre, New York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 213 (299,423)

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Auctions, Banks, Corporate deposits, Market discipline, Monetary policy

45.
Downloads 173 (362,242)
Citation 4

Contingent Credit Under Stress

Number of pages: 36 Posted: 07 Nov 2023
New York University (NYU) - Leonard N. Stern School of Business, Frankfurt School of Finance and Management and Frankfurt School of Finance & Management
Downloads 162 (383,233)
Citation 1

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Credit lines, banks, bank capital, COVID

Contingent Credit Under Stress

NBER Working Paper No. w31909
Number of pages: 37 Posted: 28 Nov 2023
New York University (NYU) - Leonard N. Stern School of Business, Frankfurt School of Finance and Management and Frankfurt School of Finance & Management
Downloads 11 (1,263,990)
Citation 3
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46.

Online Appendix to 'Brexit' and the Contraction of Syndicated Lending

NYU Stern School of Business
Number of pages: 42 Posted: 22 Jun 2020
Goethe University Frankfurt, New York University - Leonard N. Stern School of Business, Frankfurt School of Finance & Management and Frankfurt School of Finance & Management
Downloads 122 (481,943)
Citation 8

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Brexit, Syndicated Loans, Banks, Financial Centers

Navigating New Norms: The Response of LBO Financing to Post-Crisis Regulation and Market Shifts

Number of pages: 60 Posted: 14 Mar 2024
École Polytechnique Fédérale de Lausanne (EPFL), Frankfurt School of Finance & Management and Frankfurt School of Finance & Management
Downloads 109 (528,246)

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Leveraged buyouts; Private equity; Institutional loans; CLOs; Secondary loan market; Leveraged loan guidance

Navigating New Norms: The Response of LBO Financing to Post-Crisis Regulation and Market Shifts

Posted: 11 Dec 2022 Last Revised: 16 Feb 2024
École Polytechnique Fédérale de Lausanne (EPFL), Frankfurt School of Finance & Management and Frankfurt School of Finance & Management

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Leveraged buyouts; Private equity; Institutional loans; CLOs; Secondary loan market; Leveraged loan guidance

48.

Collateral Easing and Safe Asset Scarcity: How Money Markets Benefit from Low-Quality Collateral

Number of pages: 52 Posted: 18 Jul 2024
Stefan Greppmair, Karol Paludkiewicz and Sascha Steffen
Deutsche Bundesbank, Deutsche Bundesbank and Frankfurt School of Finance & Management
Downloads 103 (546,630)

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money markets, monetary policy, collateral framework, asset scarcity

49.

Feasibility Check: Transition to a New Regime for Bank Sovereign Exposure?

Number of pages: 46 Posted: 01 May 2018
Yannik Schneider and Sascha Steffen
University of Mannheim and Frankfurt School of Finance & Management
Downloads 73 (673,229)
Citation 1

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sovereign bonds, banks, safe assets, regulation

50.

Does the Lack of Financial Stability Impair the Transmission of Monetary Policy?

Deutsche Bundesbank Discussion Paper No. 48/2019, NYU Stern School of Business
Number of pages: 55 Posted: 26 Feb 2020
New York University (NYU) - Leonard N. Stern School of Business, Deutsche Bundesbank - Research Centre, Frankfurt School of Finance & Management and Goethe University Frankfurt - House of Finance
Downloads 57 (763,514)
Citation 1

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Central bank liquidity, Monetary policy transmission, Corporate deposits, Financial crisis, Lender of last resort, Loans, Real effects

51.

The "Greatest" Carry Trade Ever? Understanding Eurozone Bank Risks

NBER Working Paper No. w19039
Number of pages: 66 Posted: 11 May 2013 Last Revised: 10 Jul 2023
Viral V. Acharya, Viral V. Acharya and Sascha Steffen
New York University (NYU) - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 34 (947,725)
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52.

Liquidity Dependence and the Waxing and Waning of Central Bank Balance Sheets

NBER Working Paper No. w31050
Number of pages: 114 Posted: 20 Mar 2023 Last Revised: 05 Apr 2023
New York University (NYU) - Leonard N. Stern School of Business, University of Chicago Booth School of Business, University of Chicago - Booth School of Business and Frankfurt School of Finance & Management
Downloads 26 (1,032,835)
Citation 6

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53.

Does the Lack of Financial Stability Impair the Transmission of Monetary Policy?

NBER Working Paper No. w26479
Number of pages: 56 Posted: 27 Nov 2019 Last Revised: 08 May 2023
New York University (NYU) - Leonard N. Stern School of Business, Deutsche Bundesbank, Frankfurt School of Finance & Management and Goethe University Frankfurt - House of Finance
Downloads 19 (1,118,474)
Citation 18

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54.

Bank Capital and the European Recovery from the COVID-19 Crisis

CEPR Discussion Paper No. DP14927
Number of pages: 24 Posted: 29 Jun 2020
Moritz Schularick, Sascha Steffen and Tobias H. Troeger
University of Bonn - Department of Economics, Frankfurt School of Finance & Management and Leibniz Institute for Financial Research SAFE
Downloads 7 (1,260,493)
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bank capital, COVID-19, financial stablity

55.

Zombie Lending: Theoretical, International, and Historical Perspectives

Annual Review of Financial Economics, Vol. 14, pp. 21-38, 2022
Posted: 11 Nov 2022
New York University (NYU) - New York University, Federal Reserve Banks - Federal Reserve Bank of New York, Nova School of Business and Economics and Frankfurt School of Finance & Management

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56.

Exit Strategies of Buyout Investments - An Empirical Analysis

EFA 2008 Athens Meetings Paper, https://doi.org/10.3905/JAI.2010.12.4.058
Posted: 22 May 2019
Sascha Steffen, Daniel Schmidt and Franziska Szabó
Frankfurt School of Finance & Management, University of Frankfurt, CEPRES Center of Private Equity Research and affiliation not provided to SSRN

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Leveraged Buyouts, Private Equity, Exits, Business cycle