Bertay, Ata Can; Demirgüç-Kunt, Asli; Huizinga, Harry - In: Journal of Financial Intermediation 22 (2013) 4, pp. 532-558
strategy, and the extent to which it faces market discipline depend on both size measures. We show that bank returns increase … bank shareholders. We also find that systemically large banks are subject to greater market discipline as evidenced by a … low capitalization levels. This suggests that market discipline, exercised through funding costs, does not prevent banks …