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Contribution Details

Type Journal Article
Scope Discipline-based scholarship
Title Taxing banks leverage and syndicated lending: A cross-country comparison
Organization Unit
  • Aurore Burietz
  • Steven Ongena
  • Matthieu Picault
Item Subtype Original Work
Refereed Yes
Status Published in final form
  • English
Journal Title International Review of Law and Economics
Geographical Reach international
Volume 73
Page Range 106103
Date 2023
Abstract Text Between 2010 and 2012 and with bank stability as the ultimate target, five European countries implemented a tax levy on banks’ liabilities thereby decreasing the cost of equity relative to the cost of debt. Using a difference-in-differences approach we assess the impact of this tax levy on banks’ participation in the syndicated loan market. We further investigate the impact of the tax levy along bank size and capital structure. We find that banks located in countries where the tax levy was implemented supply more credit. This increase is more significant for larger lenders and banks that are more capital constrained.
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Digital Object Identifier 10.1016/j.irle.2022.106103
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