Examinando por Autor "Baselga Pascual, Laura"

Mostrando 1 - 3 de 3
  • Miniatura
    Ítem
    Bank credit risk and sovereign debt exposure: moral hazard or hedging?
    (Elsevier Ltd, 2025-01) Baselga Pascual, Laura; Lobán Acero, Lidia; Myllymäki, Emma Riikka
    This study investigates the relationship between credit risk and bank exposure to sovereign debt. Using an international dataset of commercial banks from 2002 to 2022, we apply various regressions and panel data models to address potential endogeneity issues. Our results reveal that banks with higher levels of impaired loans tend to hold more sovereign debt. Furthermore, we observe that this relationship is stronger in countries with high sovereign credit ratings. This suggests that banks, when confronted with elevated credit risk from impaired loans, may seek safety in sovereign debt as a seemingly secure investment.
  • Miniatura
    Ítem
    Bank risk determinants in Latin America
    (MDPI AG, 2020-09-07) Martínez Malvar, Mariña; Baselga Pascual, Laura
    Systemic Banking crises are a recurrent phenomenon that affects society, and there is a need for a better understanding of the risk factors to support prudential regulation and reduce unnecessary risk intake in the financial system. This paper examines the main bank risk determinants in Latin America. The period analysed covers the timespan from 1999 to 2013, including the systemic banking crisis episodes in Argentina (2001–2003) and Uruguay (2002–2005). We apply a new data‐driven comparable methodology to classify and select commercial banks from the sample. We study bank risk proxied by the Z‐score. We use the system‐GMM estimator as our main empirical analysis method. According to our results, well capitalized, liquid, and traditional commercial banks are less risky. We perform robustness tests by applying OLS, and the results resemble our original model.
  • No hay miniatura disponible
    Ítem
    The role of regional tax autonomy, firm size, and business groups in tax avoidance: evidence from Spain
    (Taylor & Francis, 2024-07-10) Garmendia-Lazcano, Aitor; Baselga Pascual, Laura
    This paper investigates the influence of regional tax autonomy, firm size, and business group affiliation on corporate tax burden in a large sample of Spanish firms, including non-listed firms, from 2007 to 2016. Our findings reveal that firms located in tax- autonomous regions exhibit lower effective corporate tax rates (ETR), providing new empirical support for the horizontal tax com-petition theory. Additionally, we identify a positive relationship between firm size and corporate tax burden, aligning with the political cost theory. Furthermore, we find that group-affiliated firms face a higher ETR than independent firms, and that group affiliation attenuates the differences in the tax burden experienced by large and small firms.