fixed income unless the value of the bank’s assets falls below a predetermined threshold. In such an event, the debt … obligation is automatically converted to the bank’s common equities. By using a contingent claims valuation approach we present … bank that includes DES or alternatively subordinated debt in its capital structure. We compare and evaluate quantitatively …

The paper focuses on a comparison of bank-based andmarket-based …nancial systems with respect to their ability to … period. In contrast, the bank-based system allows for both quick recovery and postponing and smoothing the negative …

currency crisis, widespread bank failures, hyperinflation and government crisis has a very negative affect over the whole … Bulgarian economy. Parallel with the introduction of currency board, as part of measures for improvement of bank system …

We examine wealth effects, for banks and insurers, of bank rights to sell and underwrite annuities. The stock …-price reactions to four court and regulatory decisions are consistent with expectations of bank gains at insurers' expense. Cross …, riskier bank holding companies with fee- based and consumer business gain most, consistent with the extension of federal …

This paper evaluates bank exit regimes in selected financial centres using econometric methods. The focus is on bank … exit regimes applicable to commercial banks in New York, London, Frankfurt, Helsinki and Tokyo in 1998–2002. Bank exit … regimes are studied from the perspective of bank creditors and bank shareholders. In order to apply econometric methods, the …

The primary purpose of this article is to investigate the relationship between bank capital and credit risk taking in … and legal environment in driving bank capitalization and credit risk taking behavior in emerging market economies. …