This paper examines the impact of bank capital ratios on cooperative banks’ lending by comparing differences in loan growth to differences in capital ratios at sets of banks that are clustered based on capital ratio size. Applying fixed-effects estimator to sample of cooperative banks operating in Poland and using a unique quarterly dataset covering the period of 1999:4–2012:4 we find that loans growth is particularly capital constrained in poorly-capitalized banks, but only in non-recessionary. Lending of poorly capitalized banks is strongly affected by interest rate margin. Interest rate margin is also important in determining loans growth of medium and large cooperative banks. Generally, our results give support for the view that small banks, such as cooperative banks are not capital constrained in recessionary periods, thus their customers do not suffer from capital crunch in unfavourable macroeconomic conditions. However, their lending activity is procyclical, because increases in unemployment rate result in decreases in loans growth of cooperative banks in Poland.
{"title":"Determinants of Loans Growth in Cooperative Banks in Poland: Does Capital Ratio Matter?","authors":"I. Kowalska, M. Olszak, F. Świtała","doi":"10.15611/PN.2019.2.05","DOIUrl":"https://doi.org/10.15611/PN.2019.2.05","url":null,"abstract":"This paper examines the impact of bank capital ratios on cooperative banks’ lending by comparing differences in loan growth to differences in capital ratios at sets of banks that are clustered based on capital ratio size. Applying fixed-effects estimator to sample of cooperative banks operating in Poland and using a unique quarterly dataset covering the period of 1999:4–2012:4 we find that loans growth is particularly capital constrained in poorly-capitalized banks, but only in non-recessionary. Lending of poorly capitalized banks is strongly affected by interest rate margin. Interest rate margin is also important in determining loans growth of medium and large cooperative banks. Generally, our results give support for the view that small banks, such as cooperative banks are not capital constrained in recessionary periods, thus their customers do not suffer from capital crunch in unfavourable macroeconomic conditions. However, their lending activity is procyclical, because increases in unemployment rate result in decreases in loans growth of cooperative banks in Poland.","PeriodicalId":366368,"journal":{"name":"Contemporary Trends and Challenges in Finance","volume":"130 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122100316","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1007/978-3-030-15581-0_15
Artur A. Trzebiński, Ewa Majerowska
{"title":"The Impact of Fundamental Investment Fund Features on the Level of Risk","authors":"Artur A. Trzebiński, Ewa Majerowska","doi":"10.1007/978-3-030-15581-0_15","DOIUrl":"https://doi.org/10.1007/978-3-030-15581-0_15","url":null,"abstract":"","PeriodicalId":366368,"journal":{"name":"Contemporary Trends and Challenges in Finance","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122123048","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1007/978-3-030-15581-0_18
Paweł Prędkiewicz, A. Bem, P. Ucieklak-Jeż, Rafał Siedlecki
{"title":"Public or Private? Which Source of Financing Helps to Achieve Higher Health System Efficiency?","authors":"Paweł Prędkiewicz, A. Bem, P. Ucieklak-Jeż, Rafał Siedlecki","doi":"10.1007/978-3-030-15581-0_18","DOIUrl":"https://doi.org/10.1007/978-3-030-15581-0_18","url":null,"abstract":"","PeriodicalId":366368,"journal":{"name":"Contemporary Trends and Challenges in Finance","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124132273","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1007/978-3-030-15581-0_6
B. Włodarczyk, Marek Szturo
{"title":"Impact of Macroeconomic and Financial Factors on the Commodity Price Indexes in the Context of Financialization","authors":"B. Włodarczyk, Marek Szturo","doi":"10.1007/978-3-030-15581-0_6","DOIUrl":"https://doi.org/10.1007/978-3-030-15581-0_6","url":null,"abstract":"","PeriodicalId":366368,"journal":{"name":"Contemporary Trends and Challenges in Finance","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121814723","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1007/978-3-030-15581-0_13
J. Olbryś
{"title":"Market-Wide Commonality in Liquidity on the CEE-3 Emerging Stock Markets","authors":"J. Olbryś","doi":"10.1007/978-3-030-15581-0_13","DOIUrl":"https://doi.org/10.1007/978-3-030-15581-0_13","url":null,"abstract":"","PeriodicalId":366368,"journal":{"name":"Contemporary Trends and Challenges in Finance","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134432756","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1007/978-3-030-15581-0_9
J. Koralun-Bereźnicka
{"title":"Reconsidering the Profitability–Capital Structure Relation: Findings from Poland","authors":"J. Koralun-Bereźnicka","doi":"10.1007/978-3-030-15581-0_9","DOIUrl":"https://doi.org/10.1007/978-3-030-15581-0_9","url":null,"abstract":"","PeriodicalId":366368,"journal":{"name":"Contemporary Trends and Challenges in Finance","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124032413","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1007/978-3-030-15581-0_12
Lesław Markowski
{"title":"Verification of the Conditional CAPM: The Example of the Polish Capital Market","authors":"Lesław Markowski","doi":"10.1007/978-3-030-15581-0_12","DOIUrl":"https://doi.org/10.1007/978-3-030-15581-0_12","url":null,"abstract":"","PeriodicalId":366368,"journal":{"name":"Contemporary Trends and Challenges in Finance","volume":"302 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133037677","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1007/978-3-030-15581-0_2
M. Karaś, W. Szczepaniak
{"title":"Towards a Generalized Measure of Systemic Risk: Systemic Turbulence Measure","authors":"M. Karaś, W. Szczepaniak","doi":"10.1007/978-3-030-15581-0_2","DOIUrl":"https://doi.org/10.1007/978-3-030-15581-0_2","url":null,"abstract":"","PeriodicalId":366368,"journal":{"name":"Contemporary Trends and Challenges in Finance","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132770367","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1007/978-3-030-15581-0_4
Agnieszka Wójcik-Mazur
{"title":"Analysis of Determinants of Liquidity Risk in Polish Banking Sector","authors":"Agnieszka Wójcik-Mazur","doi":"10.1007/978-3-030-15581-0_4","DOIUrl":"https://doi.org/10.1007/978-3-030-15581-0_4","url":null,"abstract":"","PeriodicalId":366368,"journal":{"name":"Contemporary Trends and Challenges in Finance","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122457051","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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