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Relationship lending during a trust crisis on the interbank market: A friend in need is a friend indeed
Economics Letters. 2019. Vol. 182. P. 1–4.
Schoors K., Karas A., Degryse H.
We exploit uncertainty regarding banks’ involvement in money laundering activities as a natural experiment to study the functioning of the interbank market in uncertain times. We show that bank couples with a stronger relationship (i.e., more frequent and reciprocal interactions before the event) are more likely to continue lending to one another, and at lower interest rates. This is in line with a “helping hand” or “flight to friends” hypothesis during crisis.
Publication based on the results of:
Ustyuzhanin V., / Series Econometrics "arxiv". 2026.
This paper proposes Covariate-Balanced Weighted Stacked Difference-in-Differences (CBWSDID), a design-based extension of weighted stacked DID for settings in which untreated trends may be conditionally rather than unconditionally parallel. The estimator separates within-subexperiment design adjustment from across-subexperiment aggregation: matching or weighting improves treated-control comparability within each stacked subexperiment, while the corrective stacked weights of Wing et ...
Added: April 3, 2026
Vorchik A., / Social Science Research Network. Серия SSRN Working Paper Series "SSRN Working Paper Series". 2026.
This article is devoted to the phenomenon of intrinsic motivation, to understand which two models are proposed. We study how positive/negative intrinsic motivation to work (experienced utility) affects worker's individual labour supply (model I) and the amount of effort they exert (model II). In model I, we use intrinsic motivation to explain the positive/negative slope ...
Added: March 15, 2026
Vorchik A., Мамышев М. А., / Series Social Science Research Network "Social Science Research Network". 2025.
In this paper, we develop a formal mathematical model aimed to explain the Dunning-Kruger effect that beginners systematically overestimate their own competence in various fields of knowledge and activity. We argue that the Dunning-Kruger effect arises from the emotional nature of confidence combined with unknown unknowns that it simply can not take into account due ...
Added: February 11, 2026
Musaev A. U., Vorchik A., / Series Social Science Research Network "Social Science Research Network". 2026.
This paper attempts to model the evolutionary theory of modernization and democratization. The model reflects the key provisions of R. Inglehart and C. Welzel's theory and provides a microfoundation for the adaptation of subjective values to the objective importances of the survival factors and the structure of the labour markets from the perspective of evolutionary ...
Added: February 10, 2026
Antsygina A., Teteryatnikova M., Tremewan J. C. et al., / Series "SSRN Working Paper Series". 2025.
Many competitive environments allow for a third party to be indirectly involved by supporting one or both sides in the conflict. Such support can come from trade partners, colleagues, or allies, who can in turn benefit from a supported party's success. We use theory and an experiment to investigate how support relationships develop endogenously in ...
Added: January 31, 2026
Akhmedova A., / Series "SSRN Working Paper Series". 2026.
The study explores a psychological phenomenon of inaction inertia-avoiding action after missing a more favourable opportunity. Unlike action inertia (e.g.,sunk costs effect), inaction inertia has been less studied, particularly in economic contexts. Considering the reference dependent nature of the phenomenon, I build on the work of Kőszegi and Rabin (2006) to examine how past experiences ...
Added: January 23, 2026
Kuchumova (Paramonova) Y. A., Ozhegova A., Зорина К. С., / Series SSRN "Available at SSRN 6108727". 2026.
Simplified tax regimes with explicit eligibility thresholds are a common tool which reduces tax burden but distorts firms’ behavior, creating local bunching just below the threshold. However, we show that when firms have access to business splitting their responses extend far beyond the local margin. Our model demonstrates that splitting reduces local bunching but amplifies ...
Added: January 21, 2026
Kuchumova (Paramonova) Y. A., Кумачева С. Ш., / Series SSRN "Available at SSRN 5312100". 2025.
In recent years, an emerging body of empirical research has shown that tax audits, in addition to recovering unpaid taxes (direct effect), increase future tax compliance (indirect or dynamic effect). This literature also suggests that updating expectations induced by audit experience plays an important role in explaining this indirect effect. However, exactly how taxpayers form ...
Added: January 21, 2026
Kuchumova (Paramonova) Y. A., / Series SSRN "Available at SSRN 5277500". 2025.
While the emerging empirical literature shows that collateral tax sanctions (CTSs) - such as driver’s license suspensions or passport denials - appear to be effective instruments to enforce tax debt collection, there are still few theoretical arguments to explain why. In this paper, I model enforcement of tax debt collection and provide a new rationale for why it could ...
Added: January 21, 2026
Dobrynskaya V. V., Tomtosov A., Речмедина С., / NRU HSE. Series WP BRP 60/FE/2017 "SERIES: FINANCIAL ECONOMICS". 2025.
We study the application of factor investing in the market for real estate (REITs). The analysis of traditional factor strategies, such as momentum, value, size and profitability, reveals their unstable and atypical behavior in comparison to the equity market, however, there is a strong momentum effect in the factor strategies. We propose a new dynamic ...
Added: January 21, 2026
Besstremyannaya G., Bakshuk M., / ЦЭМИ РАН. Серия 48 заседание "Сборник трудов Шаталинской школы-семинара". 2026.
В данной статье рассматривается реакция российских предприятий обрабатывающей промышленности на ужесточение экономических санкций с акцентом на период после 2022 года. Хотя санкции в целом негативно сказываются на экономическом росте и эффективности деятельности компаний, есть некоторые свидетельства того, что они также могут подталкивать компании к инновациям, а негативный эффект преодолевается при помощи адаптации компании. Исследование заполняет ...
Added: December 31, 2025
Besstremyannaya G., Новикова В., / ЦЭМИ РАН. Серия 48 заседание "Сборник трудов Шаталинской школы-семинара". 2026.
Защита прав интеллектуальной собственности является движущей
силой для формирования стимулов инновационной активности
предприятий. Законодательное закрепление правил пользования
результатами интеллектуальной деятельности и обеспечение их соблюдения
позволяет поддерживать баланс интересов создателей и пользователей
интеллектуальной
собственности.
Целью
проанализировать недостаточно изученную для регионов России связь
между экономическим ростом и защитой прав интеллектуальной
собственности с использованием двухшаговой регрессии. Результаты
моделирования оказались неоднозначными, однако, было доказано наличие
значимой связи между защитой прав интеллектуальной ...
Added: December 31, 2025
Meissner D., Salati Marcondes de Moraes G. H., Brandão Fischer B. et al., / NRU Higher School of Economics. Series WP BRP "Science, Technology and Innovation". 2025. No. WP BRP /STI/2025.
Innovation has long been at the center of debates in economics, management, and organizational studies. However, innovation is never free of uncertainty and risk. Every act of innovation implies a departure from established paths and a willingness to embrace the unknown. From the beginning it's never clear if there is an audience which appreciates the ...
Added: November 28, 2025
Shchiptsova A., Obersteiner M., / Series General Economics "arxiv.org". 2025.
The addition of phosphorus, in the form of mineral fertilizer, becomes necessary in most agricultural soils in order to achieve consistent high yield levels of intensive farming and maintain soil fertility. Recent consolidation of phosphate fertilizer industry has transformed fragmented trade into a single integrated global network, where a small group of large-scale companies dominates ...
Added: November 21, 2025
Kozlov N., Semenova M., / Series WP HSE "Financial Economics". 2025. No. 1/FE/2025.
This paper introduces a new approach to identifying and operationalizing the business political connections of banks. We manually collect data on 2,598 bankers who owned or worked in 115 Russian banks from 2015 to 2021 and use this dataset to describe the types of political connections of Russian banks and to unveil their institutional patterns ...
Added: April 20, 2025
Belousova V., Chichkanov N., Kraiouchkina J. et al., , in: Handbook of Financial Econometrics, Statistics, Technology, and Risk Management (In 4 Volumes) Volume 1Vol. 1.: World Scientific Publishing Co. Pte. Ltd, 2025. Ch. 12 P. 413–459.
This chapter explores how banks set priorities in their loan portfolio and funding mix depending on their form of ownership. We apply a two-stage approach: machine-learning method LASSO with K-fold cross-validation technique to select the meaningful determinants of bank’s loan and funding mix, which is followed up by panel data analysis. The classification of banks ...
Added: April 12, 2025
Popova P., Applied Econometrics 2024 No. 76 P. 5–28
The COVID‑19 pandemic had a highly negative impact on the corporate sector across many economies. This study examines the relationship between the spread of the COVID‑19 virus, the quality of corporate loan portfolios, and the volume of corporate loans in Russian regions. Using cross-regional variation in the number of COVID‑19 cases in Russia from April ...
Added: December 6, 2024
Oshmankevich K., Вестник Московского университета. Серия 26: Государственный аудит 2021 № 1 С. 101–112
The theoretical and practical aspects of supervision of compliance with legally stated information security requirements by organizations of banking sphere are observed in this article. The research touches upon main regulatory acts in this area, observes its content and main clauses. The author pays special attention to the work of China banking and insurance regulatory ...
Added: September 11, 2024
Oshmankevich K., Хозяйство и право 2023 № 4 С. 42–50
The article deals with issues related to a wide-spread way of committing fraudulent actions against clients of credit institutions as social engineering. The danger of this phenomenon lies in the fact that attackers, using a combination of technical and psychological techniques, mislead their victims, encouraging them to transfer sensitive information or perform certain actions, such ...
Added: September 11, 2024
Popova P., / Series WP BRP "Series FE "Financial Economics""". 2024. No. WP BRP 93.
The COVID-19 pandemic had an extremely negative impact on the corporate sector across many economies. This study examines the relationship between the spread of the COVID-19 virus and the quality of corporate loan portfolios and the volume of corporate loans in Russian regions. Using cross-regional variation in the number of COVID-19 cases in Russia from ...
Added: January 19, 2024
Ponomarenko A. A., Journal of Financial Economic Policy 2021 Vol. 14 No. 2 P. 141–151
Added: March 28, 2023
Global Business Review 2021 Vol. online first P. 1–16
In this study, we analysed the income structure of the 30 largest banks in seven Balkan countries in the period before, during and after the global economic crisis. Considering that the structure of income primarily consists of interest-bearing and non-interest-bearing income, we analysed whether the crisis has affected the change in the structure of banks’ ...
Added: November 3, 2021
Guillemin F., Semenova M., Annals of Finance 2020 Vol. 16 No. 2 P. 219–251
This article investigates the role of bank voluntary disclosure, as a source of information about risk, in the interbank market. Using data on the 179 largest Russian banks over the period of 2004–2013 we test whether the ability to attract interbank loans is sensitive to various transparency indices such as those disclosing bank risks, board ...
Added: September 7, 2020
Tovar-García E. D., Revista de Metodos Cuantitativos para la Economia y la Empresa 2016 Vol. 21 No. 1 P. 205–229
Basel III proposes market discipline (banking disclosure requirements) as a key instrument to achieve soundness in the banking system. Consequently, it is necessary to test the presence of responses to bank risk on the part of the economic agents. This article empirically studies the mechanisms of market discipline (price, quantity, and maturity) in the interbank ...
Added: June 30, 2016