Sovereign creditworthiness and bank foreign ownership. An empirical investigation of the European banking sector
This paper documents that sovereign creditworthiness could be a new dimension that
explains foreign ownership in the banking sector. We employ consolidated financial results
of the European Union (EU) member states over the period 2007–2021 and show that better
sovereign credit ratings lead to an increase in foreign investments in the host country's
banking sector, as they may be linked with greater financial stability. Additional data on
cross-country regulatory and supervisory practices show that this effect is mitigated in …
explains foreign ownership in the banking sector. We employ consolidated financial results
of the European Union (EU) member states over the period 2007–2021 and show that better
sovereign credit ratings lead to an increase in foreign investments in the host country's
banking sector, as they may be linked with greater financial stability. Additional data on
cross-country regulatory and supervisory practices show that this effect is mitigated in …
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