This paper reviews the banking response to Hong Kong¡¦s industrial take-off in the 1950s and the transition to a service economy and regional financial centre in the 1970s. Adjustments to bank business models were frequently flawed, and bankers were prone to self-destructive behaviour. The...

Within the banking efficiency analysis literature there is a dearth of studies which have considered how banks have 'survived' the Asian financial crisis of the late 1990s. Considering the profound changes that have occurred in the region's financial systems since then, such an analysis is both...

This study predicts and finds that chief executive officer (CEO) risk-taking incentives induced by stock option compensation increase a bank's contribution to systemic distress risk and systemic crash risk. We also predict and find that this CEO incentive systemic risk relation operates through...