Martins, António Miguel; Serra, Ana Paula - Faculdade de Economia, Universidade do Porto - 2012
banks and on their profitability as a result of high exposure to the real estate sector. This is especially critical during … real estate crises, when bank losses tend to increase dramatically and for all banks, placing the entire financial system … interest rates. In particular, stock returns are more sensitive to real estate market conditions in the case of smaller banks …