The current review of the 1988 Basel Capital Accord has put the spotlight on the ratios used
to assess banks' capital adequacy. This article examines the effectiveness of three capital …

This paper tests for the presence of depositor discipline by examining the effects of depository
institutions' risk on the pricing and growth of uninsured deposits. The study analyzes a …

A central issue currently debated among bank analysts and economists is whether mergers
enhance the efficiency of surviving banks. This paper investigates the post-merger …

A large fraction of the companies that went private between 1990 and 2007 were fairly
young public firms, often with the same management team making the crucial restructuring …

This paper looks at the role of commercial banks and investment banks as financial advisors.
In their role as lenders and advisors, banks can be viewed as serving a certification function…

1. Introduction t is probably safe to assume that Frank Capra’s intentions in his classic film It’sa
Wonderful Life were to exalt the fundamental virtues of the human character and to …

We investigate whether the “stress test,” the extraordinary examination of the 19 largest US
bank holding companies conducted by federal bank supervisors in 2009, produced useful …

The link between financial market concentration and stability is a topic of great interest to
policymakers and other market participants. Are concentrated markets-those where a relatively …

An increase in margin requirements in the First Section of the Tokyo Stock Exchange is
followed by a decline in margin borrowing, trading volume, the proportion of trading performed …

We hypothesize that the intrinsic benefit required to trigger a refinancing has become smaller,
due to a combination of technological, regulatory, and structural changes that have made …