Finance Professor @FrankfurtSchool, AI & Finance, Banks & Debt Capital Markets
Dec 2, 2023 • 5 tweets • 1 min read
📚 Identifying covenant violations using machine learning and regulatory filings
Paulina Verhoff and I were in Boston this week to present our joint paper at the #NBER Big Data and Securities Markets workshop.
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➡️ We develop a new machine learning method to identify covenant violations over a > 20 year period involving >1.8mn regulatory filings
➡️ Results show a decline in violations particularly among Non-IG rated firms.
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Mar 15, 2020 • 15 tweets • 6 min read
Below is a thread about something that became quite obvious during the last days - the importance of insurance in the global financial system. This thread is about *banks as liquidity insurers* and some implications for the #COVIDー19 crisis 1/n
The virus and the drastic ways governments took to contain its spreading, had an immediate impact on the real economy through the simultaneous occurrence of both demand and supply shocks. Liquidity quickly evaporates among small and large companies. 2/n
