The paper warns about the potential efficiency losses associated with low business bankruptcy rates (number of firms … argument, analysed with an incomplete contracts model à la Bolton and Scharfstein (1996), is as follows. The low efficiency and …

their effect on banks' risk, capital, efficiency and cost. We show that more stringency and more risk sensitivity in … regulation not always result in a trade off between efficiency and solvency: the impact depends on the area of national …

China declined during the past decade, despite these reforms. In this paper, we show both empirically and theoretically that … operating in China during 1996-2008, we show that competition actually increased in the past decade when the PE indicator is … specifications and estimation methods. All in all, our analysis suggests that bank lending markets in China have been more …

basically reflects that the four state-owned commercial banks -China’s largest banks- have been the main drag for system …’s profitability. We find the same negative influence for China’s development banks (so called Policy Banks), which are fully state … the influence of government intervention in explaining bank performance in China. These findings should not come as a …