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Bristol Banking Research Group hosts workshop for researchers and practitioners

2 December 2019

Last Thursday the Department of Accounting and Finance’s Banking Research Group played host to the FINEST (Financial Intermediation Network of European Studies) Autumn Workshop in Berkeley Square, Bristol.

FINEST acts as a research and discussion forum for banking and financial intermediation researchers and practitioners throughout Europe. Each session of the conference was chaired by academics from the University’s Banking Group – one of the largest in the UK, and each paper presentation featured a discussant from either Bristol or other institutions.

Presenters and delegates were warmly welcomed by the University of Bristol’s Head of Accounting and Finance, Professor Ian Tonks, and the President of FINEST, Professor Franco Fiordlisi from the University of Roma Tre. The main conference then followed and consisted of four sessions as follows:


Session 1:

Title of paper: The (re)allocation of bank risk (by Geert Bekaert and Johannes Breckenfelder).

Discussant: John Wilson (University of St Andrews).

In this work, Johannes and his co-author use detailed securities data to understand which investors in which countries hold bank-issued securities like bonds and stocks, and how the securities holdings are reallocated after banks are classified as other systemically important institutions in Europe.


Session 2:

Title of paper: Financial Shocks and Productivity: Pricing response and the TFPR-TFPQ bifurcation (by Simone Lenzu, David Rivers, and Joris Tielens).

Discussant: Tobias Berg (Frankfurt School of Finance & Management).

Joris and his co-authors estimate the effect of credit supply shocks on firm’s productivity growth using Belgian data.


Title of paper: Income inequality and capital reallocation in the presence of financial frictions (by Matias Ossandon Busch).

Matias uses branch-level data from banks in Colombia to investigate if income inequality affects banks' credit-risk reallocation when facing financial distress, approximated by a liquidity shock?

Discussant: Martin Götz (Goethe University).


Session 3:

Title of paper: Gender Diversity and Bank Misconduct (by Francesca Arnaboldi, Barbara Casu, Angelo Gallo, Elena Kalotychou, and Anna Sarkisyan).

In her Paper, Anna and her co-authors investigate whether gender-diverse boards reduce the likelihood that a bank engages in costly misconduct, reflected in fines received by European banks from US regulators.

Discussant: Francesco Vallascas (University of Leeds).


Title of paper: Earnings Expectations and the Quality of Financial Services (by Xiaomeng Shi, Duc Duy (Louis) Nguyen, Mingzhu Wang).

Discussant: Francesco Vallascas (University of Leeds).

Louis and his co-authors are exploit complaint data filed by consumers with the Consumer Financial Protection Bureau against financial institutions in the U.S. to show that banks receive on average 10.3% more customer complaints in the immediate quarter after they narrowly beat analysts’ earnings forecasts.


Session 4:

Title of paper: Basel III capital requirements and heterogeneous banks (by Carola Müller)

Carola studies in her paper how the competing minimum capital requirements interact with the allocation of banks’ market shares.

Discussant: Fabiana Gomez (University of Bristol

University of Bristol’s Banking Professor Klaus Schaeck ended the conference with concluding remarks by thanking all participants and highlighting that the next banking event in Bristol will take place on 27 May 2020 for which the call for papers is out by now. This event, the 4th Bristol Workshop on Banking and Financial Intermediation has a distinguished scientific committee. Franklin Allen from Imperial College will give the keynote speech. Klaus encouraged all participants to consider submitting papers to this event, the submission deadline is 15 December 2019.


Notes:

The Financial Intermediation Network of European Studies (FINEST) acts as a research and discussion forum for banking and financial intermediation researchers and practitioners throughout Europe.

FINEST operates as an open research network facilitating research and other analytical synergies among academic staff involved in various European Universities as well as policymakers and financial sector practitioners.

The FINEST is a private non-profit association (network) of researchers from various universities, central banks, financial authorities, other research institutes and practitioners who are interested in exploring all aspects of banking and finance.

The University of Bristol’s Banking Research Group is among the largest in the UK. The group focuses on undertaking original research at the highest academic standards, and is useful for practitioners and regulators in the banking industry.

The group has undertaken both theoretical and empirical research and has been active in various areas of banking such as bank competition and financial stability, micro- and macro-prudential bank regulation, market discipline, systemic and non-systemic bank risk taking, monetary policy and bank lending, relationship lending, financial development and growth, the real effects of bank lending, the sovereign-bank nexus, bank capital structure, and financial contagion among others.

Faculty members of the banking group have published in leading journals such as Review of Financial Studies, the Journal of Financial and Quantitative Analysis, the Journal of Financial Intermediation, the Review of Finance, the Journal of Money, Credit, and Banking, the Journal of Corporate Finance, the Journal of Financial Stability, the Journal of Banking and Finance, the Journal of Financial Service Research, the Journal of International Money and Finance and many other highly regarded international journals.

Members of the group frequently collaborate with policy institutions such as the World Bank, the Bank of England, and the European Central Bank among others.

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