LnRiLWZpZWxke21hcmdpbi1ib3R0b206MC43NmVtfS50Yi1maWVsZC0tbGVmdHt0ZXh0LWFsaWduOmxlZnR9LnRiLWZpZWxkLS1jZW50ZXJ7dGV4dC1hbGlnbjpjZW50ZXJ9LnRiLWZpZWxkLS1yaWdodHt0ZXh0LWFsaWduOnJpZ2h0fS50Yi1maWVsZF9fc2t5cGVfcHJldmlld3twYWRkaW5nOjEwcHggMjBweDtib3JkZXItcmFkaXVzOjNweDtjb2xvcjojZmZmO2JhY2tncm91bmQ6IzAwYWZlZTtkaXNwbGF5OmlubGluZS1ibG9ja311bC5nbGlkZV9fc2xpZGVze21hcmdpbjowfQ==
LnRiLWhlYWRpbmcuaGFzLWJhY2tncm91bmR7cGFkZGluZzowfQ==
.tb-container .tb-container-inner{width:100%;margin:0 auto} .wp-block-toolset-blocks-container.tb-container[data-toolset-blocks-container="7990017b9d2a69714997192d12cdf930"] { padding: 25px;box-shadow: 5px 5px 10px 0 rgba( 0, 0, 0, 0.5 ); } .tb-grid,.tb-grid>.block-editor-inner-blocks>.block-editor-block-list__layout{display:grid;grid-row-gap:25px;grid-column-gap:25px}.tb-grid-item{background:#d38a03;padding:30px}.tb-grid-column{flex-wrap:wrap}.tb-grid-column>*{width:100%}.tb-grid-column.tb-grid-align-top{width:100%;display:flex;align-content:flex-start}.tb-grid-column.tb-grid-align-center{width:100%;display:flex;align-content:center}.tb-grid-column.tb-grid-align-bottom{width:100%;display:flex;align-content:flex-end} .wp-block-toolset-blocks-grid.tb-grid[data-toolset-blocks-grid="03923b42ca5ba704079b781bb6cf8ec1"] { grid-template-columns: minmax(0, 1fr);grid-column-gap: 0px;grid-auto-flow: row } .wp-block-toolset-blocks-grid.tb-grid[data-toolset-blocks-grid="03923b42ca5ba704079b781bb6cf8ec1"]  > .tb-grid-column:nth-of-type(1n+1) { grid-column: 1 } .wp-block-toolset-blocks-grid-column.tb-grid-column[data-toolset-blocks-grid-column="110da289a367c76cbaa13243eac51d4f"] { display: flex; } .tb-fields-and-text[data-toolset-blocks-fields-and-text="44855410933f79eb72e3c5e281e1da34"] { font-size: 18px;color: rgba( 23, 28, 84, 1 ); } .tb-fields-and-text[data-toolset-blocks-fields-and-text="44855410933f79eb72e3c5e281e1da34"] p { font-size: 18px;color: rgba( 23, 28, 84, 1 ); } .tb-grid,.tb-grid>.block-editor-inner-blocks>.block-editor-block-list__layout{display:grid;grid-row-gap:25px;grid-column-gap:25px}.tb-grid-item{background:#d38a03;padding:30px}.tb-grid-column{flex-wrap:wrap}.tb-grid-column>*{width:100%}.tb-grid-column.tb-grid-align-top{width:100%;display:flex;align-content:flex-start}.tb-grid-column.tb-grid-align-center{width:100%;display:flex;align-content:center}.tb-grid-column.tb-grid-align-bottom{width:100%;display:flex;align-content:flex-end} .wp-block-toolset-blocks-grid.tb-grid[data-toolset-blocks-grid="bbc025d81d205449f785cf9239f333b8"] { grid-template-columns: minmax(0, 1fr);grid-column-gap: 0px;grid-row-gap: 60px;grid-auto-flow: row } .wp-block-toolset-blocks-grid.tb-grid[data-toolset-blocks-grid="bbc025d81d205449f785cf9239f333b8"]  > .tb-grid-column:nth-of-type(1n+1) { grid-column: 1 } .wp-block-toolset-blocks-grid-column.tb-grid-column[data-toolset-blocks-grid-column="07cc8ce3e15a3c64f0f0e012c43e1484"] { display: flex; }  .tb-fields-and-text[data-toolset-blocks-fields-and-text="f55aa7d88b65a599e0a8705c8bb2a7f9"] { font-size: 18px; } .tb-fields-and-text[data-toolset-blocks-fields-and-text="f55aa7d88b65a599e0a8705c8bb2a7f9"] p { font-size: 18px; } .tb-fields-and-text[data-toolset-blocks-fields-and-text="e4f2f6e200d5b09da4662d342f64a618"] { font-size: 14px;padding-bottom: 20px; } .tb-fields-and-text[data-toolset-blocks-fields-and-text="e4f2f6e200d5b09da4662d342f64a618"] p { font-size: 14px; } h1.tb-heading[data-toolset-blocks-heading="4b2a33fd0a8c89401f9312cc49cf505a"]  { color: rgba( 23, 28, 84, 1 );text-align: center;margin-top: 10px; }  .tb-field[data-toolset-blocks-field="ab0d2fb02080d677efb49551e9148bb8"] { font-size: 12px;text-transform: uppercase;text-align: center;color: rgba( 40, 113, 173, 1 ); }  .tb-field[data-toolset-blocks-field="ab0d2fb02080d677efb49551e9148bb8"] a { color: rgba( 40, 113, 173, 1 );text-transform: uppercase; } .tb-field[data-toolset-blocks-field="ab0d2fb02080d677efb49551e9148bb8"] a:hover { color: rgba( 23, 28, 84, 1 ); } @media only screen and (max-width: 781px) { .tb-container .tb-container-inner{width:100%;margin:0 auto}.tb-grid,.tb-grid>.block-editor-inner-blocks>.block-editor-block-list__layout{display:grid;grid-row-gap:25px;grid-column-gap:25px}.tb-grid-item{background:#d38a03;padding:30px}.tb-grid-column{flex-wrap:wrap}.tb-grid-column>*{width:100%}.tb-grid-column.tb-grid-align-top{width:100%;display:flex;align-content:flex-start}.tb-grid-column.tb-grid-align-center{width:100%;display:flex;align-content:center}.tb-grid-column.tb-grid-align-bottom{width:100%;display:flex;align-content:flex-end} .wp-block-toolset-blocks-grid.tb-grid[data-toolset-blocks-grid="03923b42ca5ba704079b781bb6cf8ec1"] { grid-template-columns: minmax(0, 1fr);grid-auto-flow: row } .wp-block-toolset-blocks-grid.tb-grid[data-toolset-blocks-grid="03923b42ca5ba704079b781bb6cf8ec1"]  > .tb-grid-column:nth-of-type(1n+1) { grid-column: 1 } .wp-block-toolset-blocks-grid-column.tb-grid-column[data-toolset-blocks-grid-column="110da289a367c76cbaa13243eac51d4f"] { display: flex; } .tb-grid,.tb-grid>.block-editor-inner-blocks>.block-editor-block-list__layout{display:grid;grid-row-gap:25px;grid-column-gap:25px}.tb-grid-item{background:#d38a03;padding:30px}.tb-grid-column{flex-wrap:wrap}.tb-grid-column>*{width:100%}.tb-grid-column.tb-grid-align-top{width:100%;display:flex;align-content:flex-start}.tb-grid-column.tb-grid-align-center{width:100%;display:flex;align-content:center}.tb-grid-column.tb-grid-align-bottom{width:100%;display:flex;align-content:flex-end} .wp-block-toolset-blocks-grid.tb-grid[data-toolset-blocks-grid="bbc025d81d205449f785cf9239f333b8"] { grid-template-columns: minmax(0, 0.5fr) minmax(0, 0.5fr);grid-auto-flow: row } .wp-block-toolset-blocks-grid.tb-grid[data-toolset-blocks-grid="bbc025d81d205449f785cf9239f333b8"] > .tb-grid-column:nth-of-type(2n + 1) { grid-column: 1 } .wp-block-toolset-blocks-grid.tb-grid[data-toolset-blocks-grid="bbc025d81d205449f785cf9239f333b8"] > .tb-grid-column:nth-of-type(2n + 2) { grid-column: 2 } .wp-block-toolset-blocks-grid-column.tb-grid-column[data-toolset-blocks-grid-column="07cc8ce3e15a3c64f0f0e012c43e1484"] { display: flex; }     } @media only screen and (max-width: 599px) { .tb-container .tb-container-inner{width:100%;margin:0 auto}.tb-grid,.tb-grid>.block-editor-inner-blocks>.block-editor-block-list__layout{display:grid;grid-row-gap:25px;grid-column-gap:25px}.tb-grid-item{background:#d38a03;padding:30px}.tb-grid-column{flex-wrap:wrap}.tb-grid-column>*{width:100%}.tb-grid-column.tb-grid-align-top{width:100%;display:flex;align-content:flex-start}.tb-grid-column.tb-grid-align-center{width:100%;display:flex;align-content:center}.tb-grid-column.tb-grid-align-bottom{width:100%;display:flex;align-content:flex-end} .wp-block-toolset-blocks-grid.tb-grid[data-toolset-blocks-grid="03923b42ca5ba704079b781bb6cf8ec1"] { grid-template-columns: minmax(0, 1fr);grid-auto-flow: row } .wp-block-toolset-blocks-grid.tb-grid[data-toolset-blocks-grid="03923b42ca5ba704079b781bb6cf8ec1"]  > .tb-grid-column:nth-of-type(1n+1) { grid-column: 1 } .wp-block-toolset-blocks-grid-column.tb-grid-column[data-toolset-blocks-grid-column="110da289a367c76cbaa13243eac51d4f"] { display: flex; } .tb-grid,.tb-grid>.block-editor-inner-blocks>.block-editor-block-list__layout{display:grid;grid-row-gap:25px;grid-column-gap:25px}.tb-grid-item{background:#d38a03;padding:30px}.tb-grid-column{flex-wrap:wrap}.tb-grid-column>*{width:100%}.tb-grid-column.tb-grid-align-top{width:100%;display:flex;align-content:flex-start}.tb-grid-column.tb-grid-align-center{width:100%;display:flex;align-content:center}.tb-grid-column.tb-grid-align-bottom{width:100%;display:flex;align-content:flex-end} .wp-block-toolset-blocks-grid.tb-grid[data-toolset-blocks-grid="bbc025d81d205449f785cf9239f333b8"] { grid-template-columns: minmax(0, 1fr);grid-auto-flow: row } .wp-block-toolset-blocks-grid.tb-grid[data-toolset-blocks-grid="bbc025d81d205449f785cf9239f333b8"]  > .tb-grid-column:nth-of-type(1n+1) { grid-column: 1 } .wp-block-toolset-blocks-grid-column.tb-grid-column[data-toolset-blocks-grid-column="07cc8ce3e15a3c64f0f0e012c43e1484"] { display: flex; }     } 
Bailouts and Political Connections of Bank Boards
By Pia Huettl | Posted on 17 January 2022
Post type: Paper
This paper investigates the political ties of too-big-to-fail bank boards in crisis times. We argue that after a bailout, governments are likely to influence bank board compositions to secure control rights. Combining two novel datasets on political ties of banks and state aid in the European Union, we find that the number of politically connected board members increases by 21.4% following government support. Bailed-out banks with such new political ties perform better in terms of market capitalisation and valuation than bailed-out banks without such ties. This evidence suggests a role of political board members in providing valuable information during crisis times.
Co-Author(s): Philipp Schaz
# Tags: Bailouts | European Union | Financial crisis | Political connections | TBTF
