Céline Meslier-Crouzille

University of Limoges | UNILIM · Laboratoire d’Analyse et de Prospective Économiques (LAPE)

This paper provides new evidence on the benefits of local banking. Relying on a unique bank-level lending dataset covering 96 French counties from 2005 to 2013, completed by historical firm-level information on firm's main bank, our results reveal strong heterogeneities in the impact of local banking on SMEs' activity depending on firm size, both a...

Although equity financing is a core value in Islamic finance, it is rarely used by Islamic banks which prefer other instruments such as markup or leasing contracts. The purpose of this paper is to investigate the potential determinants of equity financing. Shariah supervisory board (SSB) is regarded as crucial in promoting equity financing. We use...

This paper provides new evidence on the impact of local banking market structure on SME's access to credit and emphasize the comparative advantages of regional versus national banks in alleviating SME's financial constraints. Matching a unique dataset on bank branch-level and firm-level information for a sample of 33,165 French manufacturing firms...

Using data on listed banks in 51 countries, we analyze whether banks’ dividend payouts are influenced by the relative strengths of the agency conflicts faced by their shareholders and creditors. We show that dividend policy depends on the relative strengths of these agency conflicts, but with a more decisive role played by the agency cost of equity...

This paper examines the effects of bank alliance network on bonds issued by European banks during the period 1990-2009. We construct six measures capturing different dimensions of banks’ network characteristics. In opposition to the results obtained for non-financial firms (Chou et al., 2014; Chen et al., 2015), our findings indicate that being par...

This paper addresses the issue of competition in dual banking markets by analyzing the determinants of deposit rates in Islamic and conventional banks. Using a sample of 20 countries with dual banking systems over the 2000–2014 period, our results show significant differences in the drivers of Islamic and conventional banks' pricing behavior. Conve...

We empirically examine whether banks’ dividend decisions are influenced by their degree of opacity and ownership structure. We find that banks with concentrated ownership structure pay lower dividends when they have high degrees of opacity, in line with the hypothesis that majority shareholders pay lower dividends to extract higher levels of privat...

We estimate the benefits of geographic diversification within states and across states for bank risk and return for all U.S. bank holding companies over 1994 to 2008, and assess whether such benefits depend on bank size.For small banks, only intrastate diversification increases risk-adjusted returns and reduces default risk while for very large ins...

The aim of this paper is to analyze the impact of local banking market characteristics on the evolution of bank credit in the French departments using an original dataset (centralisations financières territoriales) provided by the Banque de France. We identify structural breaks in the evolution of bank credit at the local level during the 2007-08 c...

The French banking system has experienced major changes since the mid-1980s, with the deregulation process triggered by the Banking Act of 1984 and the broader reform of capital markets in 1985. The aim of these actions was to improve the performance and the efficiency of the entire banking industry and enhance competition between financial institu...

We empirically examine whether banks' dividend decisions are influenced by their degree of opacity and ownership structure. We find that banks with concentrated or dispersed ownership structure pay lower dividends when they have high degrees of opacity. These results would be consistent with the entrenchment behavior hypothesis, with insiders (mana...

We estimate the benefits of intrastate and interstate geographic diversification for bank risk and return, and assess whether such benefits could be shaped by differences in bank size and disparities in economic conditions within states or across U.S. states. For small banks, only intrastate diversification is beneficial in terms of risk-adjusted r...

This paper examines the issue of bank revenue diversification in the context of an emerging economy, the Philippines. Shifts towards non-interest activities increase both profits and risk-adjusted profits. Foreign banks have larger diversification gains than domestic banks. Moreover, banks draw greater diversification benefits from non-traditional...

Cette étude constitue la première analyse de l'impact des caractéristiques structurelles bancaires sur l'évolution des encours de crédit appréciés au niveau départemental dans le cas français. Elle repose sur l'exploitation de données originales issues des Centralisations Financières Territoriales collectées mensuellement par la Banque de France et...

This paper examines the link between banking industry structure and economic activity at the regional level in the Philippines. We apply a principal component analysis on regional banking and economic data for the period 1993 to 2005. We ranked the sixteen regions in three different groups depending on their average economic development. Our result...

Meslier-Crouzille C., Nys E. and Sauviat A. Contribution of rural banks to regional economic development: evidence from the Philippines, Regional Studies. The paper examines the link between banking and economic development in the Philippine regions and it focuses on the role of rural banks using a co-integration panel data analysis (1993–2005). No...

This paper examines the link between financial and economic development at the regional level in the Philippines and focuses on the role played by rural banks in regional economic activity. We apply cointegration panel data analysis on regional banking and economic data for the period 1993 to 2005. We ranked the sixteen regions in three different g...

  The objective of this paper is to empirically assess the stock market reaction to the announcement of bank mergers and acquisitions (M&As) in eight East Asian countries over the 1997–2003 period. M&As are classified according to the status of entity, the time period of the deal and the maturity of the banking system. A bivariate GARCH model is us...

This paper examines the link between financial and economic development at the regional level in the Philippines and focuses on the role played by rural banks in regional economic activity. We apply cointegration panel data analysis on regional banking and economic data for the period 1993 to 2005. We ranked the sixteen regions in three different g...

The aim of this paper is to examine the impact on bank stock prices of the Asian and Russian financial crises for a sample of European banks. This issue is of importance regarding financial fragility and contagion effects within the banking industry. We develop an event study methodology based on a large number of macroeconomic news and on public a...

The main objective of this paper is to empirically assess the issue of asymmetric information in banking within a framework based on the behaviour of bank stock prices. Following an event-study methodology for a sample of European listed banks during the Asian and Russian crises of 1997 and 1998, our results show that unexpected increases in bank s...