Taxing Banks Leverage and Syndicated Lending: A Cross-Country Comparison

Aurore Burietz, Steven Ongena and Matthieu Picault

Post-Print from HAL

Abstract: 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.

Keywords: Banks; Tax levy; Syndicated loans (search for similar items in EconPapers)
Date: 2023-03
References: Add references at CitEc
Citations:

Published in SSRN Electronic Journal, 2023, 73, pp.106103. ⟨10.2139/ssrn.4039734⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Taxing banks leverage and syndicated lending: A cross-country comparison (2023)
Working Paper: Taxing Banks Leverage and Syndicated Lending: A Cross-Country Comparison (2022)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03810450

DOI: 10.2139/ssrn.4039734

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().