Tobias Berg

Goethe University Frankfurt

House of Finance

Grueneburgplatz 1

Frankfurt am Main, Hessen 60323

Germany

Centre for Economic Policy Research (CEPR)

London

United Kingdom

Leibniz Institute for Financial Research SAFE

House of Finance

Theodor-W.-Adorno-Platz 3

Frankfurt, 60323

Germany

  • Goethe University Frankfurt

  • Centre for Economic Policy Research (CEPR)

  • Leibniz Institute for Financial Research SAFE

SCHOLARLY PAPERS

32

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28,043

TOTAL CITATIONS
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Top 1,583

in Total Papers Citations

440

Scholarly Papers (32)

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1.

On the Rise of FinTechs – Credit Scoring Using Digital Footprints

Downloads 7,338 ( 2,012)
Citation 44

On the Rise of FinTechs – Credit Scoring Using Digital Footprints

Michael J. Brennan Irish Finance Working Paper Series Research Paper No. 18-12
Number of pages: 66 Posted: 12 May 2018 Last Revised: 15 Aug 2019
Tobias Berg, Valentin Burg, Ana Gombović and Manju Puri
Goethe University Frankfurt, Humboldt University, Frankfurt School of Finance & Management and Duke University - Fuqua School of Business
Downloads 7,196 (2,054)
Citation 42

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FinTech, Lending, Unbanked Households, Privacy, Credit Bureau Scores

On the Rise of Fintechs – Credit Scoring Using Digital Footprints

NBER Working Paper No. w24551
Number of pages: 51 Posted: 02 May 2018 Last Revised: 30 Jan 2023
Tobias Berg, Valentin Burg, Ana Gombović and Manju Puri
Goethe University Frankfurt, Humboldt University of Berlin, Frankfurt School of Finance & Management and Duke University - Fuqua School of Business
Downloads 142 (428,419)
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2.

The Economics of “Buy Now, Pay Later”: A Merchant’s Perspective

Number of pages: 71 Posted: 21 May 2023 Last Revised: 19 Dec 2024
Tobias Berg, Valentin Burg, Jan Keil and Manju Puri
Goethe University Frankfurt, Humboldt University of Berlin, Humboldt University of Berlin and Duke University - Fuqua School of Business
Downloads 1,908 (18,634)
Citation 2

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BNPL, FinTech Lending, Payment, Consumer Credit

3.

Does Contingent Capital Induce Excessive Risk-Taking?

Journal of Financial Intermediation, Forthcoming
Number of pages: 55 Posted: 17 Nov 2010 Last Revised: 11 Feb 2015
Tobias Berg and Christoph Kaserer
Goethe University Frankfurt and Technische Universität München (TUM)
Downloads 1,718 (21,904)
Citation 52

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Contingent capital, banking regulation, risk-taking incentives, asset substitution, debt overhang, credit crunch

4.

From Actual to Risk-Neutral Default Probabilities: Merton and Beyond

Number of pages: 36 Posted: 03 Mar 2009
Tobias Berg
Goethe University Frankfurt
Downloads 1,645 (23,363)
Citation 7

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credit spreads, risk premia, structural models of default, unobservable asset values

5.

Handling Spillover Effects in Empirical Research

Number of pages: 66 Posted: 23 May 2019 Last Revised: 29 Oct 2020
Tobias Berg, Markus Reisinger and Daniel Streitz
Goethe University Frankfurt, Frankfurt School of Finance & Management - Economics Department and Halle Institute for Economic Research
Downloads 1,269 (34,393)
Citation 9

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Spillovers, Cournot, Salop, Agglomeration, Demand Spillovers, Direct vs. Indirect Effects, Credit Supply

6.

FinTech Lending

Downloads 1,065 (44,385)
Citation 11

FinTech Lending

Annual Review of Financial Economics, Vol. 14, pp. 187-207, 2022
Posted: 10 Nov 2022
Tobias Berg, Andreas Fuster and Manju Puri
Goethe University Frankfurt, École Polytechnique Fédérale de Lausanne (EPFL) and Duke University - Fuqua School of Business

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FinTech Lending

Swiss Finance Institute Research Paper No. 21-72
Number of pages: 28 Posted: 26 Oct 2021
Tobias Berg, Andreas Fuster and Manju Puri
Goethe University Frankfurt, École Polytechnique Fédérale de Lausanne (EPFL) and Duke University - Fuqua School of Business
Downloads 724 (73,928)
Citation 1

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FinTech, lending, COVID-19

Fintech Lending

NBER Working Paper No. w29421
Number of pages: 27 Posted: 01 Nov 2021 Last Revised: 22 May 2023
Tobias Berg, Andreas Fuster and Manju Puri
Goethe University Frankfurt, École Polytechnique Fédérale de Lausanne (EPFL) and Duke University - Fuqua School of Business
Downloads 340 (184,621)
Citation 3

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FinTech Lending

CEPR Discussion Paper No. DP16668
Number of pages: 29 Posted: 15 Nov 2021
Tobias Berg, Andreas Fuster and Manju Puri
Goethe University Frankfurt, École Polytechnique Fédérale de Lausanne (EPFL) and Duke University - Fuqua School of Business
Downloads 1 (1,360,253)
Citation 7
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COVID-19, Financial Intermediation, Fintech, lending

7.

Estimating Equity Premia from CDS Spreads

EFA 2009 Bergen Meetings Paper
Number of pages: 30 Posted: 16 Oct 2007 Last Revised: 22 Jun 2016
Christoph Kaserer and Tobias Berg
Technische Universität München (TUM) and Goethe University Frankfurt
Downloads 1,054 (44,997)
Citation 2

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credit risk premim, equity premium, market sharpe ratio, credit risk, structural models of default

8.

Trends in Corporate Borrowing

Downloads 1,030 (46,517)
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

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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 (45,771)
Citation 18

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

9.

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 (47,148)
Citation 48

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Options and syndicated loans, fees, asymmetric information

10.

'Brexit' and the Contraction of Syndicated Lending

Number of pages: 36 Posted: 23 Nov 2016 Last Revised: 27 May 2020
Tobias Berg, Anthony Saunders, Larissa Schäfer and Sascha Steffen
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 (48,688)
Citation 4

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Brexit, Syndicated Loans, Competition, Financial Centers

11.

Loan Officer Incentives, Internal Rating Models and Default Rates

Downloads 911 (55,115)
Citation 15

Loan Officer Incentives, Internal Rating Models and Default Rates

AFA 2013 San Diego Meetings Paper
Number of pages: 63 Posted: 16 Mar 2012 Last Revised: 19 Aug 2019
Tobias Berg, Manju Puri and Jörg Rocholl
Goethe University Frankfurt, Duke University - Fuqua School of Business and ESMT European School of Management and Technology
Downloads 837 (60,986)
Citation 14

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loan officer incentives, internal ratings, hard information, Lucas critique

Loan Officer Incentives and the Limits of Hard Information

NBER Working Paper No. w19051
Number of pages: 41 Posted: 18 May 2013 Last Revised: 23 Jul 2023
Tobias Berg, Manju Puri and Jörg Rocholl
Goethe University Frankfurt, Duke University - Fuqua School of Business and ESMT European School of Management and Technology
Downloads 74 (678,850)
Citation 1

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12.

What Explains the Difference in Leverage between Banks and Non-Banks?

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 56 Posted: 05 Mar 2016 Last Revised: 08 Mar 2016
Tobias Berg and Jasmin Gider
Goethe University Frankfurt and Tilburg University - Tilburg University School of Economics and Management
Downloads 895 (56,488)
Citation 4

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Bank Capital, Bank Leverage, Capital Regulation

13.

The Term Structure of Risk Premia: Evidence from CDS Spreads

Downloads 860 (59,636)
Citation 7

The Term Structure of Risk Premia: Evidence from CDS Spreads

Number of pages: 43 Posted: 22 May 2009 Last Revised: 07 Jan 2013
Tobias Berg
Goethe University Frankfurt
Downloads 480 (124,067)
Citation 2

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time-varying risk premia, return predictability, credit risk, equity premium, structural models of default

The Term Structure of Risk Premia: New Evidence from the Financial Crisis

ECB Working Paper No. 1165
Number of pages: 48 Posted: 08 Apr 2010
Tobias Berg
Goethe University Frankfurt
Downloads 380 (163,273)
Citation 5

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credit risk, risk premia, equity premium, mean reversion, structural models of default

14.

Out of Sight, Out of Mind: Divestments and the Global Reallocation of Pollutive Assets

SAFE Working Paper No. 436
Number of pages: 64 Posted: 28 Feb 2023 Last Revised: 13 Nov 2024
Tobias Berg, Lin Ma and Daniel Streitz
Goethe University Frankfurt, Halle Institute for Economic Research and Halle Institute for Economic Research
Downloads 835 (62,144)
Citation 1

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Investor Pressure, GHG Emissions, Asset Sales, Paris Agreement, Institutional Investors, Carbon Disclosure Project

15.

CBDCs, Payment Firms, and Geopolitics

Downloads 742 (72,718)

CBDCs, Payment Firms, and Geopolitics

Number of pages: 69 Posted: 11 Apr 2023 Last Revised: 18 Jul 2024
Tobias Berg, Jan Keil, Felix Martini and Manju Puri
Goethe University Frankfurt, Humboldt University of Berlin, Frankfurt School of Finance & Management and Duke University - Fuqua School of Business
Downloads 733 (72,693)

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Payment Firms, Central Bank Digital Currencies, CBDCs, Digital Euro, Geopolitics, Strategic Autonomy

Cbdcs, Payment Firms, and Geopolitics

NBER Working Paper No. w32857
Number of pages: 70 Posted: 26 Aug 2024 Last Revised: 29 Aug 2024
Tobias Berg, Jan Keil, Felix Martini and Manju Puri
Goethe University Frankfurt, Humboldt University of Berlin, Frankfurt School of Finance & Management and Duke University - Fuqua School of Business
Downloads 9 (1,289,329)
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16.

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

Downloads 715 (76,260)
Citation 32

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
Tobias Berg, Anthony Saunders, Sascha Steffen and Daniel Streitz
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 (86,440)
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
Tobias Berg, Anthony Saunders, Sascha Steffen and Daniel Streitz
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 (678,850)
Citation 29

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Loans, corporate debt, fees, market integration, globalization

17.

Credit Supply Shocks: Financing Real Growth or Takeovers?

BAFFI CAREFIN Centre Research Paper No. 2015-14
Number of pages: 46 Posted: 01 Dec 2015 Last Revised: 02 Sep 2022
Tobias Berg, Daniel Streitz and Michael Wedow
Goethe University Frankfurt, Halle Institute for Economic Research and European Central Bank (ECB) - Directorate Financial Stability and Supervision
Downloads 561 (103,765)
Citation 1

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Inorganic Growth, Credit Supply, Real Effects, Securitization

18.

Playing the Devil's Advocate: The Causal Effect of Risk Management on Loan Quality

The Review of Financial Studies (Forthcoming)
Number of pages: 55 Posted: 11 May 2014 Last Revised: 30 Jun 2015
Tobias Berg
Goethe University Frankfurt
Downloads 466 (130,111)
Citation 29

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risk management, loan officer incentives, organizational design

19.

Unintended Consequences of QE: Real Estate Prices and Financial Stability *

LawFin Working Paper No. 27
Number of pages: 57 Posted: 11 Jan 2022 Last Revised: 19 Jul 2024
Tobias Berg, Rainer F. H. Haselmann, Thomas K. Kick and Sebastian Schreiber
Goethe University Frankfurt, Goethe University Frankfurt - Faculty of Economics and Business Administration, Deutsche Bundesbank and Goethe University Frankfurt
Downloads 455 (133,915)
Citation 3

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20.

Got Rejected? Real Effects of Not Getting a Loan

Downloads 424 (145,474)
Citation 35

Got Rejected? Real Effects of Not Getting a Loan

Review of Financial Studies, Forthcoming
Number of pages: 72 Posted: 23 Apr 2018
Tobias Berg
Goethe University Frankfurt
Downloads 249 (255,990)
Citation 11

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Credit supply, cash holdings, real effects, SMEs, precautionary savings

Got Rejected? Real Effects of Not Getting a Loan

ECB Working Paper No. 1960
Number of pages: 50 Posted: 19 Sep 2016
Tobias Berg
Goethe University Frankfurt
Downloads 175 (358,135)
Citation 24

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Credit supply, real effects, liquidity demand, precautionary savings

21.

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 (181,560)
Citation 32

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22.

Determinants of the Size of the Sovereign Credit Default Swap Market

Number of pages: 36 Posted: 13 Dec 2012 Last Revised: 18 Jan 2015
Tobias Berg and Daniel Streitz
Goethe University Frankfurt and Halle Institute for Economic Research
Downloads 330 (192,340)
Citation 1

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Sovereign Credit Default Swaps, Sovereign CDS Trading Volume, DTCC Data, Sovereign Credit Ratings

23.

Leverage and Risk-Taking in a Dynamic Model

Downloads 316 (201,320)

Leverage and Risk-Taking in a Dynamic Model

Number of pages: 53 Posted: 11 Dec 2022
Tobias Berg and Florian Heider
Goethe University Frankfurt and Leibniz Institute for Financial Research SAFE
Downloads 258 (246,956)

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leverage, risk-taking incentives, dynamic model JEL: G3, G31, G32, G33

Leverage and Risk-Taking in a Dynamic Model

SAFE Working Paper No. 423
Number of pages: 55 Posted: 02 Jul 2024
Tobias Berg and Florian Heider
Goethe University Frankfurt and Leibniz Institute for Financial Research SAFE
Downloads 58 (772,600)

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leverage, risk-taking incentives, G31, G32, G33, dynamic model

24.

Do Voluntary Initiatives Make Loans Greener? Evidence from Project Finance

Proceedings of the EUROFIDAI-ESSEC Paris December Finance Meeting 2024
Number of pages: 46 Posted: 16 Apr 2024 Last Revised: 10 Dec 2024
Tobias Berg, Robin Döttling, Xander Hut and Wolf Wagner
Goethe University Frankfurt, Erasmus University Rotterdam (EUR), Goethe University Frankfurt and Erasmus University Rotterdam (EUR)
Downloads 257 (249,535)

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Project Finance, Green Lending, Climate Risk, Equator Principles

25.

A Biodiversity Stress Test of the Financial System

Number of pages: 46 Posted: 03 Dec 2024 Last Revised: 27 Feb 2025
Sophia Arlt, Tobias Berg, Xander Hut and Daniel Streitz
Deutsche Bundesbank, Goethe University Frankfurt, Goethe University Frankfurt and Halle Institute for Economic Research
Downloads 232 (276,055)

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Climate risk, Financial stability, Systemic risk, Biodiversity risk

26.

On the Rise of the FinTechs - Credit Scoring using Digital Footprints

FDIC Center for Financial Research Paper No. 2018-04
Number of pages: 51 Posted: 16 Oct 2018
Manju Puri, Tobias Berg, Valentin Burg and Ana Gombović
Duke University - Fuqua School of Business, Goethe University Frankfurt, Humboldt University of Berlin and Frankfurt School of Finance & Management
Downloads 195 (325,240)
Citation 2

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27.

An Analysis of the Consistency of Banks' Internal Ratings

Journal of Banking and Finance, Forthcoming
Number of pages: 41 Posted: 25 Jan 2017
Tobias Berg and Philipp Koziol
Goethe University Frankfurt and European Central Bank (ECB)
Downloads 170 (368,012)
Citation 15

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Internal Ratings, Basel Minimum Capital Requirements, IRB Approach, Bank Incentives, Bank Regulation

28.

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

NYU Stern School of Business
Number of pages: 42 Posted: 22 Jun 2020
Tobias Berg, Anthony Saunders, Larissa Schäfer and Sascha Steffen
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 (482,071)
Citation 8

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Brexit, Syndicated Loans, Banks, Financial Centers

29.

Financial Constraints and Household Green Technology Adoption

Number of pages: 53 Posted: 30 May 2024 Last Revised: 16 Oct 2024
Tobias Berg, Ulf Nielsson and Daniel Streitz
Goethe University Frankfurt, Copenhagen Business School and Halle Institute for Economic Research
Downloads 108 (528,192)

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30.

Spillover Effects in Empirical Corporate Finance

CEPR Discussion Paper No. DP15549
Number of pages: 68 Posted: 23 Dec 2020
Tobias Berg, Markus Reisinger and Daniel Streitz
Goethe University Frankfurt, Frankfurt School of Finance & Management - Economics Department and Halle Institute for Economic Research
Downloads 40 (891,897)
Citation 58
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31.

The Economics of “Buy Now, Pay Later”: A Merchant's Perspective

NBER Working Paper No. w33152
Number of pages: 71 Posted: 19 Nov 2024
Tobias Berg, Valentin Burg, Jan Keil and Manju Puri
Goethe University Frankfurt, Humboldt University of Berlin, Indian School of Business and Duke University - Fuqua School of Business
Downloads 12 (1,207,690)
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32.

Market-Triggered Contingent Capital with Incomplete Information *

Number of pages: 38 Posted: 03 Jan 2025
Eva Schliephake and Tobias Berg
Catholic University of Portugal (UCP) - Catolica Lisbon School of Business and Economics and Goethe University Frankfurt
Downloads 5 (1,276,229)

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Contingent capital, banking regulation, risk-taking incentives, global games JEL: G20, G21, G28