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Financial Stability and Regulation / Basel III
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Financial Stability and Regulation / Basel III

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074).

Deadline for manuscript submissions: closed (30 June 2017) | Viewed by 26286

Special Issue Editor

Prof. Dr. Tai-Leung Terence Chong

E-Mail Website
Guest Editor
1. Lau Chor Tak Institute of Global Economics and Finance, The Chinese University of Hong Kong, Cheng Yu Tung Building, Shatin, NT, Hong Kong, China
2. Department of International Economics and Trade, School of Business, Nanjing University, Anzhong Building, Hankou Road #22, Gulou District, Nanjing, China
Interests: econometrics; econometric theory; banking and finance
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

The global financial crisis of 2007-2008 and the recent global volatility triggered by developments in emerging markets and China affected banking systems and macroeconomic conditions around the world. Improved corporate governance and risk management for banks and other financial institutions are important for the stability of the global financial system. To provide a timely and comprehensive overview of recent developments in financial regulation in relation to the recent development of global financial markets, the Journal of Risk and Financial Management invites papers from policymakers, scholars, and practitioners for our special issue on financial regulations and Basel III. The special issue welcomes latest theoretical, empirical and policy-oriented research on systemic risk, Basel III, financial stability, governance and regulation. We especially welcome papers that successfully bring academic rigor to practical questions faced by regulators. Researchers from supervisory authorities and central banks are also encouraged to submit their papers to this special issue. Original contributions are invited on any topic in financial regulation, including but not limited to:

  • Identifying and measuring systemic risk for financial institutions and markets
  • Liquidity risk, contagion, spill-over of financial shocks
  • Asset price cycles, financial stability and policy responses
  • Fair value accounting for banks and other financial institutions
  • Bank ratings and credit rating agencies
  • Supervision and coordination of cross border banking activities
  • Practical and policy issues in stress testing financial institutions
  • The evolution of the OTC derivative markets
  • Capital requirements, shadow banking and systemic institutions
  • The implementation of the Dodd-Frank Act, the JOBS Act
  • Basel III framework and risk weighting issues
  • Historical analysis of bank capital and financial crisis
  • Executive compensation and remuneration systems in financial institutions

Prof. Terence Tai Leung CHONG
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • systemic risk
  • Basel III
  • financial stability
  • financial governance
  • financial regulation

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Published Papers (3 papers)

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Research

304 KiB  
Article
Trade Openness and Bank Risk-Taking Behavior: Evidence from Emerging Economies
by Badar Nadeem Ashraf, Sidra Arshad and Liang Yan
J. Risk Financial Manag. 2017, 10(3), 15; https://doi.org/10.3390/jrfm10030015 - 29 Jul 2017
Cited by 29 | Viewed by 6093
Abstract
In this paper, we examine the impact of trade openness on bank risk-taking behavior. Using a panel dataset of 291 banks from 37 emerging countries over the period from 1998 to 2012, we find that higher trade openness decreases bank risk-taking. The results [...] Read more.
In this paper, we examine the impact of trade openness on bank risk-taking behavior. Using a panel dataset of 291 banks from 37 emerging countries over the period from 1998 to 2012, we find that higher trade openness decreases bank risk-taking. The results are robust when we use alternative bank risk-taking proxies and alternative estimation methods. We argue that trade openness provides diversification opportunities to banks in lending activities, which decrease overall bank risk. Further to this end, we observe that higher trade openness helps domestic banks to smooth out income volatility and decreases the impact of a financial crisis on banks. Full article
(This article belongs to the Special Issue Financial Stability and Regulation / Basel III)
654 KiB  
Article
Capital Regulation, the Cost of Financial Intermediation and Bank Profitability: Evidence from Bangladesh
by Changjun Zheng, Mohammed Mizanur Rahman, Munni Begum and Badar Nadeem Ashraf
J. Risk Financial Manag. 2017, 10(2), 9; https://doi.org/10.3390/jrfm10020009 - 17 Apr 2017
Cited by 22 | Viewed by 7558
Abstract
In response to the recent global financial crisis, the regulatory authorities in many countries have imposed stringent capital requirements in the form of the BASEL III Accord to ensure financial stability. On the other hand, bankers have criticized new regulation on the ground [...] Read more.
In response to the recent global financial crisis, the regulatory authorities in many countries have imposed stringent capital requirements in the form of the BASEL III Accord to ensure financial stability. On the other hand, bankers have criticized new regulation on the ground that it would enhance the cost of funds for bank borrowers and deteriorate the bank profitability. In this study, we examine the impact of capital requirements on the cost of financial intermediation and bank profitability using a panel dataset of 32 Bangladeshi banks over the period from 2000 to 2015. By employing a dynamic panel generalized method of moments (GMM) estimator, we find robust evidence that higher bank regulatory capital ratios reduce the cost of financial intermediation and increase bank profitability. The results hold when we use equity to total assets ratio as an alternative measure of bank capital. We also observe that switching from BASEL I to BASEL II has no measurable impact on the cost of financial intermediation and bank profitability in Bangladesh. In the empirical analysis, we further observe that higher bank management and cost efficiencies are associated with the lower cost of financial intermediation and higher bank profitability. These results have important implications for bank regulators, academicians, and bankers. Full article
(This article belongs to the Special Issue Financial Stability and Regulation / Basel III)
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671 KiB  
Article
An Empirical Study on the Impact of Basel III Standards on Banks’ Default Risk: The Case of Luxembourg
by Gastón Andrés Giordana and Ingmar Schumacher
J. Risk Financial Manag. 2017, 10(2), 8; https://doi.org/10.3390/jrfm10020008 - 12 Apr 2017
Cited by 24 | Viewed by 11825
Abstract
We study how the Basel III regulations, namely the Capital-to-Assets Ratio (CAR), the Net Stable Funding Ratio (NSFR) and the Liquidity Coverage Ratio (LCR), are likely to impact banks’ profitability (i.e., ROA), capital levels and default. We estimate historical series of the new [...] Read more.
We study how the Basel III regulations, namely the Capital-to-Assets Ratio (CAR), the Net Stable Funding Ratio (NSFR) and the Liquidity Coverage Ratio (LCR), are likely to impact banks’ profitability (i.e., ROA), capital levels and default. We estimate historical series of the new Basel III regulations for a panel of Luxembourgish banks for a period covering 2003q2–2011q3. We econometrically investigate whether historical LCR and NSFR components, as well as CAR positions are able to explain the variation in a measure of a bank’s default risk (approximated by Z-score) and how these effects make their way through banks’ ROA and CAR.We find that the liquidity regulations induce a decrease in average probabilities of default. We find that the liquidity regulation focusing on maturity mismatches (i.e., NSFR) induces a decrease in average probabilities of default. Conversely, the impact on banks’ profitability is less clear-cut; what seems to matter is banks’ funding structure rather than the characteristics of the portfolio of assets. Additionally, we use a model of bank behavior to simulate the banks’ optimal adjustments of their balance sheets as if they had to adhere to the regulations starting in 2003q2. Then, we predict, using our preferred econometric model and based on the simulated data, the banks’ Z-score and ROA. The simulation exercise suggests that basically all banks would have seen a decrease in their default risk during a crisis episode if they had previously adhered to Basel III. Full article
(This article belongs to the Special Issue Financial Stability and Regulation / Basel III)
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